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Tag Archives: Exxon Mobil

Exxon Mobil joins Permian land rush

oil derrick

Exxon Mobil announced Tuesday it will sell $5.6 billion in stock to acquire companies that control prime areas of oil and gas real estate in the Permian Basin. The company estimates that 60 billion barrels of oil reside under the land included in the oil and gas interests soon acquired from Fort Worth’s Bass family. About 3.4 billion barrels is ...

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Fed judge to decide whether climate change lawsuit proceeds

American flag, pipeline protest

EUGENE, Ore. (AP) — A federal judge in Eugene, Oregon, is considering arguments about whether a lawsuit brought by a group of children and a leading climate scientist can go forward. The plaintiffs’ lawsuit alleges that the federal government has known for more than 50 years that carbon pollution causes climate change, but it has failed to implement plans to ...

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House GOP subpoenas NY, Mass. AGs on climate change probe


WASHINGTON (AP) — Escalating a political fight over global warming, a Republican House chairman issued subpoenas Wednesday to two Democratic state attorneys general, seeking records about their investigation into whether Exxon Mobil misled investors about man-made climate change. Texas Rep. Lamar Smith, chairman of the House Science Committee, is pursuing records from New York Attorney General Eric Schneiderman and Massachusetts ...

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New Hampshire a big step closer to getting $236M from Exxon

gn by Mike Mozart via Flickr

CONCORD, N.H. (AP) — New Hampshire is a big step closer to getting a $236 million judgment after the U.S. Supreme Court said this week it wouldn’t hear Exxon Mobil’s appeal regarding its use of a gasoline additive that contaminated groundwater in the state. The case involved MTBE, or methyl tertiary butyl ether, a petroleum-based gasoline additive that has been ...

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Justices won’t touch $236M verdict in Exxon Mobil pollution

Exxon Mobil, Supreme Court

CONCORD, N.H. (AP) — The U.S. Supreme Court said Monday it will not hear Exxon Mobil’s appeal of a $236 million judgment for its use of a gasoline additive that contaminated groundwater in New Hampshire. The court’s order leaves in place a jury verdict involving contamination by the chemical MTBE. Exxon Mobil wanted the judgment thrown out because New Hampshire ...

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Top Eagle Ford news stories: April 22-29

Top Eagle Ford news stories: April 22-29

Review this week’s top Eagle Ford news stories all in one place. Ukraine marked the 30-year anniversary of the Chernobyl nuclear disaster and ExxonMobil lost its coveted AAA credit rating. Find more stories below. 5. New Mexico sues Texas oil company for lease payments SANTA FE, N.M. (AP) — The New Mexico State Land Office is suing a Texas oil ...

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Exxon’s 1Q profit plunges 63 percent on lower oil prices

Q2 profits

DALLAS (AP) — Exxon Mobil produced its weakest quarter in more than 16 years as lower oil prices pushed its profit down by 63 percent. Revenue tumbled 28 percent, and the oil giant lost money in its vaunted exploration and production business despite a 2 percent increase in production. It made more money, however, in chemicals. Exxon continued to slash ...

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Bakken crude sold as export first time since ban lifted

Bakken crude sold as export

Hess Corp. confirmed last week that it has sold Bakken crude to a buyer in Europe, the first shipment of North Dakota’s light crude since U.S. Congress lifted the decades-old oil export ban last December. As reported by Reuters, the shipment consisted of 175,000 barrels of Bakken crude. In early April the crude was loaded at a terminal in St. ...

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US Virgin Islands, Massachusetts launch probes into Exxon

U.S. Virgin Islands. (Image: David Barnas via Flickr)

NEW YORK (AP) — Attorneys general in the U.S. Virgin Islands and Massachusetts are investigating whether Exxon Mobil deceived the public or shareholders about the effects of climate change, joining similar inquiries into the oil giant launched by New York and California. The investigations announced Tuesday came as nearly two dozen state attorneys general said at a New York news conference that they’d formed ...

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Feds reject Exxon Mobil bid to block shareholder proposal

Exxon sign by Mike Mozart via Flickr

ALBANY, N.Y. (AP) — The Securities and Exchange Commission has rejected Exxon Mobil’s bid to block a shareholder proposal that would require it to disclose how its business will be affected by a 2-degree target limit on global warming. The SEC Office of Chief Counsel said it disagrees with the Irving, Texas-based oil company that the proposal is “so inherently ...

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