ExxonMobil (XOM) Declares $0.82 Quarterly Dividend; 3.9% Yield

Rosneft suing Exxon-led oil project over dispute between neighbours

July 24, 2018 7:08 AM EDT

By Vladimir Soldatkin and Oksana Kobzeva

MOSCOW (Reuters) - Russian oil major Rosneft's $1.4 billion lawsuit against the ExxonMobil-led (NYSE: XOM) Sakhalin-1 consortium relates to a row over how oil should be shared between the Sakhalin-1 concession and an adjacent Rosneft field, court papers show.

By bringing the legal action, Rosneft is taking on one of its closest foreign partners: Rosneft and ExxonMobil have multiple joint projects. But Rosneft and its powerful boss Igor Sechin have a track record of assertively fighting their corner in commercial disputes.

Rosneft filed the... More

ExxonMobil (XOM) Raises Estimate for Guyana's Stabroek Block to 4 Billion Barrels

July 23, 2018 8:14 AM EDT

ExxonMobil (NYSE: XOM) said today it has increased its estimate of the discovered recoverable resources for the Stabroek Block offshore Guyana to more than 4 billion oil-equivalent barrels and has advanced its evaluation to support a third phase of development and consideration of two additional phases.

The increase follows completion of testing at the Liza-5 appraisal well, a discovery... More

Energy giants opening natural gas spigots, fueling profit rise

July 23, 2018 6:34 AM EDT

By Ernest Scheyder

HOUSTON (Reuters) - The world's largest oil companies are pumping more natural gas than ever before, helping to spur a rise in profits while sating rising global demand for fuels that can mitigate global greenhouse gas emissions.

This marks a shift over the past decade for an industry that once focused predominantly on crude oil, with gas in most cases an after-thought. Now, the rise of gas-powered electric generation, surging production from U.S shale fields and the burgeoning liquefied natural gas (LNG) industry that makes shipping the fuel possible, have conspired to create a... More