Exxon profit up, tops Street on taxes and output

Exxon Mobil Corp reported a better-than-expected 53 percent increase in quarterly profit, helped by a lower tax rate and a surge in natural gas production in the United States and Qatar. Oil demand rose last year and the U.S. government expects another 1.5 percent gain this year as businesses’ and consumers’ appetite for fuels like diesel... 

Wall Street set to open higher on earnings, M&A

U.S. stocks were set for a higher open on Monday as merger activity and solid earnings, including Exxon Mobil, overshadowed concerns about the possible spread of unrest in Egypt to other parts of the Middle East. Alpha Natural Resources said on Saturday it agreed to a $7.1 billion deal to buy Massey Energy Co, which would create the second largest... 

Global Oil and Gas Upstream M&A 2010 Review

Record $211 billion in deals announced in 2010; Study sees another strong year in 2011 with more than $90 billion of properties on the market. PLS Inc., with international partner Derrick Petroleum Services and further analysis from Rystad Energy, reports global upstream oil and gas M&A activity for 2010 reached a record $211 billion. That volume... 

Texas, home to Big Oil, takes shine to solar power

Texas has long been home to Big Oil companies that specialize in extracting petroleum from hard-to-reach places. Now the hip college town of Austin is vying to become the epicenter of a potentially giant market for carbon-free electricity generated by the hot Texas sun. The rest of Texas may follow, if the state legislature passes incentives that will... 

Ivanhoe Energy’s estimated oil sands resource increased by 81% at Tamarack Project in Alberta

Robert Friedland, Executive Chairman, President and Chief Executive Officer, and Ed Veith, Executive Vice President, Upstream, of Ivanhoe Energy Inc., announced that a recently completed evaluation by independent engineers has estimated that Ivanhoe Energy’s Tamarack Project, in the Athabasca region of Western Canada, contains best-estimate contingent... 

Jacobs Receives Engineering & Construction Services Contract From ExxonMobil

Jacobs Engineering Group Inc.announced that it received a contract to provide engineering, procurement, and construction services for ExxonMobil’s diesel supply projects in Baytown, Texas, and Baton Rouge, La. These projects, with scheduled completion in 2010, allow the refineries to meet rising diesel demand globally. Through the construction... 

ExxonMobil to Invest over $1 Billion to Increase Cleaner Diesel Supply

ExxonMobil Refining & Supply today announced it will invest more than $1 billion in three refineries to increase the supply of cleaner burning diesel by about six million gallons per day. The company will construct new units and modify existing facilities at its Baton Rouge, Louisiana; Baytown, Texas; and Antwerp, Belgium, refineries. “This underscores... 

Integrated Solutions Required to Meet Energy Challenge, ExxonMobil Says in New Outlook for Energy: A View to 2030

An integrated series of solutions will be required to manage increases in global energy demand and greenhouse gas emissions that will result from population growth and economic expansion, Exxon Mobil Corporation said, releasing the corporation’s Outlook for Energy: A View to 2030. “The world needs to meet the ever-growing need for reliable and affordable... 

Oil & Gas in Italy

Research and Markets has announced the addition of the “Oil & Gas in Italy” report to their offering. The Oil & Gas in Italy industry profile is an essential resource for top-level data and analysis covering the oil & gas industry. It includes detailed data on market size and segmentation, plus textual and graphical analysis... 

Air Products Signs Long-Term Hydrogen Supply Agreement with ExxonMobil’s Baytown Refinery

Air Products, the leading global hydrogen provider, today announced the signing of a long-term hydrogen supply agreement with ExxonMobil Refining and Supply Company. Air Products is to supply ExxonMobil’s Baytown, Texas refinery with additional hydrogen product from its extensive West Gulf Coast hydrogen pipeline network beginning in April 2010. “Air...