Tag: ExxonMobil

EXXONMOBIL-REFINERY
Business

ExxonMobil’s profit doubles in Q1 over high demand

ExxonMobil’s profits in the first quarter of 2023 doubled due to the increased demand for oil and gas and cost-cutting measures, resulting in a record $11.4bn profit despite falling oil prices and paying $200m in windfall taxes in Europe. BBC reported that the energy giant’s profits included a $3.4bn after-tax reduction to exit Russia. The […]

Chad nationalizes all Exxon Mobil's assets
Oil and Gas

Chad nationalizes all Exxon Mobil’s assets

The West African nation’s energy and hydrocarbons ministry said in a statement on Thursday that Chad has nationalized all assets and rights, including hydrocarbon permits and exploration and production authorizations, belonging to a subsidiary of Exxon Mobil. Exxon Mobil announced in December 2022 that it had reached a $407 million agreement to sell its operations […]

EXXONMOBIL-REFINERY
Business

ExxonMobil to complete sale of shallow water assets soon

Energy leader, ExxonMobil, said it is hopeful to sell its shallow water oil production assets to Seplat Energy soon upon approval from the Nigerian government. This was disclosed in a statement by the President of Global Upstream, Liam Mallon, issued to Reuters. According to Nairametrics, the statement was made ahead of the CERAWeek Energy Conference […]