Global Industry: Big Oil Proves Crude Price Is Just a Number

Global Industry: Big Oil Proves Crude Price Is Just a Number

(Bloomberg) – The crude market had its worst quarter in four years but you wouldn’t be able to tell by looking at Big Oil’s stellar earnings numbers. Advertisements

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Global Industry: ExxonMobil Earns $20.8 Billion in 2018

Global Industry: ExxonMobil Earns $20.8 Billion in 2018

Exxon Mobil Corporation today announced estimated 2018 earnings of $20.8 billion, or $4.88 per share assuming dilution, compared with $19.7 billion a year earlier. Excluding U.S. tax reform and asset impairments, earnings were $21 billion, compared with $15.3 billion in 2017.

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Mozambique Oil & Gas: ExxonMobil to start drilling for oil/gas soon

Mozambique Oil & Gas: ExxonMobil to start drilling for oil/gas soon

Mozambique has granted ExxonMobil the right to drill for oil and natural gas in the country’s central and northern regions. ExxonMobil will build the world’s biggest liquefaction units (outside Qatar). Under the new development plans approved by the government Exxon’s first two liquefaction units should start producing in 2024.

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Mozambique Oil & Gas: Area 4 Secure Enought Offtake Commitments for the Rovuma LNG Project

Mozambique Oil & Gas: Area 4 Secure Enought Offtake Commitments for the Rovuma LNG Project

Area 4 co-venture participants have secured liquefied natural gas (LNG) offtake commitments from affiliated buyer entities of the partners, a key milestone enabling the participants to rapidly move toward a final investment decision in 2019 on the first phase of the Rovuma LNG project.

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Mozambique Oil & Gas: Govt detects gaps on Exxon’s Development Plan, delays FID

Mozambique Oil & Gas: Govt detects gaps on Exxon’s Development Plan, delays FID

The impasse between the Mozambican government and oil companies’ Final Investment Decisions (DFI) on hydrocarbon explorations in the Rovuma Basin Area 4 continues. Decision-making was originally scheduled for the first quarter of 2019, but new developments could stretch the deadline to the third quarter.

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