Senate Majority Leader Chuck Schumer (D-N.Y.) and 22 other Democratic senators are urging federal regulators to investigate two recent multibillion-dollar acquisitions by oil giants ExxonMobil and Chevron, saying the deals could lead to higher prices at the pump. In a letter Wednesday to the Federal Trade Commission (FTC), the lawmakers said Exxon’s proposed $60 billion […]
Chevron Corp. has agreed to buy U.S. rival Hess Corp. for $53 billion in stock in a deal that reflects top U.S. energy companies’ sustained confidence in oil and gas assets. The proposed deal will increase the company’s oil and gas production by more than 10 per cent, ramping up its competition with ExxonMobil Corp., […]
Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at $59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. Including debt, Exxon is committing about $64.5 billion to the acquisition, leaving no doubt of the Texas energy company’s commitment to fossil fuels […]
Thousands were evacuated overnight in China after land collapses caused large cracks on nearby streets. Footage shows bulged and warped roads, with some buildings even tilting with the pressure. We spoke to impacted residents for the latest. Topics in this episode: Thousands Evacuated in China’s Tianjin China Slams U.S. Over Alleged Cuba Spy Base Heavy […]
Exxon-Mobil reported bumper profits last quarter, despite falling gas prices. What contributed to the record? You can now add horsepower to an EV Mercedes, but at a cost. The IRS commissioner confirmed the agency is hiring armed tax agents nationwide as part of President Joe Biden’s push to shore up enforcement. But the IRS says […]
Pfizer stock lost $43 billion in value this month, and it’s expecting a big drop in sales this year for its COVID-19 products. Oil giant Exxon is breaking the profit record for the Western oil industry. How did it make so much money? The Federal Reserve is set to raise interest rates again this week. We […]
HOUSTON—Exxon Mobil Corp. posted a $56 billion profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry. Oil majors are expected to break their own annual records on high prices and soaring […]
Four people were injured when a fire erupted on Thursday at Exxon’s complex in Baytown, Texas, one of the largest refining and petrochemical facilities in the United States. All other personnel were accounted for, Exxon said, adding that its emergency response crews were still working to extinguish the blaze. The Baytown plant houses a chemical […]
Amazon is completing its second biggest acquisition—buying Hollywood’s MGM studios. Climate change activists win two board seats at Exxon Mobil, as an activist investor pushes to overhaul Exxon’s strategy. A state liquor law makes New York City restaurants delay reopening. What’s so special about a liquor license? And why can’t they get one?
DALLAS (AP)—At Exxon Mobil, profit is down and the stock has sagged too, but debate at the annual meeting is more likely to focus on the oil giant’s stance on climate change and other issues. Shareholder activists are pushing Exxon to study and disclose whether regulations designed to reduce carbon emissions could hurt demand for […]
