ExxonMobil, Chevron Plan Next Moves After Legal Battle

ExxonMobil, Chevron plan next moves after legal battle

The top two US oil companies are planning their next moves following their years-long legal battle. ExxonMobil and Chevron each reported on Friday that second-quarter profits fell by about $2 billion compared with the same period last year, thanks to weak oil prices. But after an arbitration court ruled last month in Chevron’s favor over its contested acquisition of Hess, the mammoth firms are feeling upbeat.Exxon CEO Darren Woods said he expect…

Exxon, Chevron Raise Production as Europe Falls Behind

Trying to catch up in oil and gas production is difficult enough. It becomes even harder when competitors keep pulling further ahead. That is the challenge now facing Europe’s energy majors, as Exxon Mobil and Chevron post record-breaking output. Exxon Mobil produced 4.63 million barrels of oil equivalent per day (boed) in the second quarter, a 6 percent increase from the same period last year. This marks its highest-ever second-quarter output, …

Record Production at Exxon and Chevron Humbles European Rivals: Ron Bousso  - Energy News, Top Headlines, Commentaries, Features & Events

*Exxon, Chevron oil and gas production hit record in Q2 *Shell production drops to lowest in at least 20 years, BP’s drops from year ago *European majors hope to close a valuation gap with US rivals By Ron Bousso LONDON, Aug 5 – When playing catch up, picking up the pace may not be enough. One also has ...

How oil giants ExxonMobil and Chevron fared in Q2

ExxonMobil’s second-quarter profit dropped to the lowest level in four years as OPEC+ ramped up production and oil prices slumped. The Texas oil driller still topped Wall Street profit expectations Friday and shares rose slightly before the opening bell, even with global markets falling on the erratic trade policies of the U.S. The price for a barrel of U.S. benchmark crude has remained below $70 for most of the year and in May dropped below $60…

E&E News: Oil majors’ profits fall despite record production

Exxon Mobil and Chevron have been hampered by lower oil prices and global economic uncertainty.