Business / Corporate Apr 8, 2020
After cuts by other major oil producers, Exxon chops spending by 30%
Exxon Mobil Corp on Tuesday throttled back a multi-year investment in shale, LNG and deep water oil production and will cut planned capital spending by 30 percent this year as the COVID-19 pandemic saps energy demand and oil prices. Oil companies are reversing 2020 spending ...
Business Dec 11, 2019
A judge on Tuesday ruled in favor of Exxon Mobil Corp. in a lawsuit brought by New York state accusing the oil company of hiding from investors the true cost of addressing climate change. Justice Barry Ostrager in Manhattan Supreme Court ruled that the state ...
World Dec 5, 2019
Report from Exxon Mobil-owned firm in 1991 shows the cost of curbing CO2
by Eric Roston
Back in 1991, when climate policy was in its infancy, an Exxon subsidiary came to a startling and prescient conclusion about how to curb carbon-dioxide emissions that cause global warming: It would require a heavy price on carbon dioxide pollution before the companies creating ...
Business Nov 8, 2019
Exxon calls New York climate case a 'joke' on last day of trial
by Erik Larson
A lawyer for Exxon Mobil Corp. mocked New York's fraud lawsuit against the oil giant, saying the state had falsely accused engineers and scientists of cooking up a massive scheme to mislead investors about the financial risks of climate change. "It's a cruel joke, your ...
Business Oct 22, 2019
Companies slow to disclose financial costs of climate change, Moody's says
U.S. and European companies in polluting industries rarely disclose the financial risks they face related to climate change even though a global task force called on them to do so two years ago, according to Moody's Investors Service. The analysis of the public filings of ...
Business May 9, 2019
Answer to climate change will be found in labs, Exxon Mobil CEO says
For Darren Woods, Exxon Mobil Corp.'s chief executive officer, the answer to climate change won't be found in solar panels or high-profile global accords, but rather in a U.S. government laboratory. At a time when environmentalists want Exxon to leave more oil and gas in ...
Business Dec 24, 2018
Venezuela navy confronts Exxon oil-exploration ship in Guyana border row
Venezuela's navy "intercepted" a ship exploring for oil on behalf of Exxon Mobil Corp. in Guyanese waters over the weekend, neighboring Guyana's foreign ministry said in a statement, while Venezuela said the incident occurred within its territory. The latest incident in a century-old border dispute ...
Business Mar 30, 2018
A federal judge on Thursday dismissed Exxon Mobil Corp's lawsuit seeking to stop New York and Massachusetts from probing whether the company misled investors and the public about climate change and the potential effects on its business. U.S. District Judge Valerie Caproni in Manhattan said ...
World / Politics Apr 22, 2017
U.S. will not give Exxon special permission to drill in Russia
The United States will not make an exception for American companies, including Exxon Mobil, seeking to drill for oil in areas prohibited by U.S. sanctions on Russia, Treasury Secretary Steven Mnuchin said on Friday. The unusually direct statement served to clarify that the United States ...
World / Politics Jan 4, 2017
Tillerson to cede control of $240 million in Exxon as Trump pick
Rex Tillerson, former Exxon Mobil Corp. chief executive and President-elect Donald Trump's pick for U.S. secretary of state, will relinquish control of about $240 million in company shares if confirmed as he severs ties to comply with conflict-of-interest requirements. If confirmed, Tillerson will sell the ...
World / Politics Dec 13, 2016
President-elect Donald Trump planed on Tuesday to nominate Exxon Mobil Corp. chief Rex Tillerson for U.S. secretary of state, setting off a confirmation fight that puts the oilman's ties to Russian President Vladimir Putin — and Trump's own — in the spotlight. The nomination is ...