US EditionExxon, Chevron Turn Page on Legal Fight as Profits Slip
- ExxonMobil is welcoming Chevron as a partner in Guyana after resolving a legal dispute, stated CEO Darren Woods.
- ExxonMobil and Chevron reported decreased profits due to lower crude prices, signaling the end of their legal fight over an acquisition.
- Chevron completed the acquisition of Hess' interest in an offshore field in Guyana on July 18, indicating a favorable arbitration outcome.
- The legal dispute allowed for better planning and expedited $1 billion in efficiency gains six months ahead of schedule.
Insights by Ground AI
Does this summary seem wrong?
24 Articles
24 Articles
Forced frenemies, Exxon and Chevron take diverging paths as leaders of the booming Permian
The top Big Oil giants in the Western Hemisphere, Exxon Mobil and Chevron also are the top producers in the booming Permian Basin—but they’re pledging to take very different paths going forward. While West Texas production leader Exxon aims to spike its volumes another 50% in the next five years and keep growing beyond 2030, Chevron is taking a “plateau” approach and focusing on free cash flow. The two companies reported their earnings Aug. 1 ju…
·New York, United States
Read Full Article
ABC FOX Montana+21 Reposted by 21 other sources
Exxon, Chevron turn page on legal fight as profits slip
Lower crude prices dented profits at ExxonMobil and Chevron as the companies signaled Friday they are moving past a legal fight over an acquisition ultimately won by the latter firm.
·Missoula, United States
Read Full Article
Coverage Details
Total News Sources24
Leaning Left4Leaning Right0Center6Last UpdatedBias Distribution60% Center
Bias Distribution
- 60% of the sources are Center
60% Center
L 40%
C 60%
Factuality
To view factuality data please Upgrade to Premium
