ExxonMobil has announced a record $9.2 billion profit for the second quarter, surpassing analyst expectations. The strong performance was driven by increased oil and gas production, particularly from the recent acquisition of Pioneer Natural Resources. …
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Occidental Petroleum Sells Delaware Basin Assets for $818 Million to Reduce Debt
Occidental Petroleum (OXY) has announced the sale of certain Delaware Basin assets in Texas and New Mexico to Permian Resources for approximately $818 million. This move is part of Occidental’s strategy to reduce its debt, …
Continue readingExxonMobil Exits Malaysia’s Upstream Sector, Sells Assets to Petronas
ExxonMobil, the US-based energy giant, has exited Malaysia’s upstream sector after agreeing to sell its oil and gas assets to Petronas, the national oil company. This move signifies a strategic shift for ExxonMobil, as it …
Continue readingRecord $241 Million Oil Pollution Penalty for Marathon Oil
The US government has announced a record $241 million settlement with Marathon Oil for alleged air pollution violations at its oil and gas facilities on the Fort Berthold Indian Reservation in North Dakota. The settlement, …
Continue readingTexas Ports Shutter as Tropical Storm Beryl Bears Down
As Tropical Storm Beryl intensifies, ports along the Texas coast are bracing for impact. Ports are enacting closures and restricting traffic to prepare for the storm’s expected landfall as a Category 1 hurricane later this …
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