Algiers, Algeria - Algeria's state oil company announced Thursday it signed a memorandum with ExxonMobil to develop two gas fields, a move an analyst called "a big step" for the country's energy ambitions. The two companies plan to "study the existing opportunities to develop the hydrocarbon resources in the Ahnet basin...

It did not disclose the cost of the agreement.

The oil and gas strike is the first of 2024.

Rivals' challenge to the control of a key oil asset can derail the acquisition.

Chevron last year posted a record profit of $35.5 billion.

In June last year Eni agreed a deal with QatarEnergy for a 3.1 percent share in Qatar's North Field East project, the first phase of the Gulf emirate's expansion into the largest gas field on the planet, which extends into Iranian territory. The deal with Eni follows a quick succession...

Last year Shell inked a deal with QatarEnergy for a 9.4% stake in Qatar's North Field South project, the second phase in the expansion of the world's largest gas field, extending under the Gulf into Iranian territory. Later it also agreed to a 6.25% share in the first phase of...

This is the company's biggest takeover since 1990 acquisition of Mobil.

The US state of California sued five of the world's largest oil companies, alleging the firms caused billions of dollars in damages and misled the public by minimizing the risks from fossil fuels, according to a court filing. The case was filed in superior court in San Francisco against ExxonMobil,...

Online celebrities best known for posting about video games are also dropping in unexpected plugs for gasoline stations, fuel rewards and club cards. In India, Mexico, South Africa and the United States many spots were found that promoted major oil firms such as BP, Chevron, ExxonMobil, Shell and TotalEnergies on...

From BP to ExxonMobil to TotalEnergies, none of the oil and gas majors have repeated the exceptional profits posted in 2022 when prices surged in the wake of Russia's invasion of Ukraine, but they nevertheless remain comfortably profitable this year. BP was the last to report earnings, reporting Tuesday a...

Profits fell on lower refining margins, natural gas prices.

ExxonMobil will acquire Denbury for $4.9 billion.

Vienna, Austria-- Egypt plans to drill new gas wells in the Mediterranean Sea and the Nile Delta as part of its ambitious $1.8 billion offshore exploration program. According to Tarek El Molla, Egypt's Minister of Petroleum and Mineral Resources, the country is developing several exp fields in the Mediterranean Sea,...

The Saudi company posts net profit of $31.9bn, down 19.25 percent from a year earlier.

The surging profits prompted outcry from critics as Britons face a cost-of-living crisis, which has topped the agenda for Thursday's local elections in England. They have also rekindled calls for more taxation to help offset sky-high household energy bills caused by key producer Russia's war on Ukraine.

The oil company's profits during Q4 stood at $12.8bn.

Results reflect higher production of oil, natural gas.

Guyana, with 800,000 inhabitants, is already the country with the most reserves per capita in the world -- over 10 billion barrels of oil equivalent -- ahead even of Brunei, Kuwait or the United Arab Emirates.

His comments came days after oil giants ExxonMobil and Chevron reported bumper earnings, reflecting how a surge in crude prices after Russia's invasion of Ukraine has boosted the industry. Natural gas costs have also risen, due to Europe's mobilization to offset lost imports from Russia.

Hike in profit was due to high oil, natural gas prices.

Campaigners say this "significant misalignment" between communication strategies and business plans could allow five of the biggest privately-owned energy firms to continue to delay the decarbonization needed to avoid the worst impacts of climate change.

ExxonMobil's second quarter profits nearly quadrupled to $17.9 billion in results released Friday that underscored the elevated state of oil and natural gas prices amid commodity market tightness.

ExxonMobil has taken a 6.25 percent stake in the expansion of Qatar's North Field, which contains the world's biggest natural gas reserves.

President Joe Biden on Friday slammed ExxonMobil for not producing more oil, as soaring gas prices deplete Americans' wallets and the US leader's popularity ahead of midterm elections.

The climate commitments of global energy giants lack credibility as they rely on costly technologies that have yet to be proven at scale, according to a report published Thursday by Carbon Tracker. The non-profit think tank that researches the impact of climate change on financial markets noted that despite a...

US giant ExxonMobil announced in April the discovery of three new oil deposits in Guyana, raising estimates of the country's oil reserves to the equivalent of 11 billion barrels. Those discoveries fueled Guyana's existing border dispute with Venezuela, which wants to explore territorial waters claimed by both countries.

It has offices in Moscow and St Petersburg with 1,000 employees.

Big oil companies said their 2021 profits were $66.7 billion.

ExxonMobil reported a profitable fourth-quarter Tuesday to conclude a strong comeback year in 2021 on higher oil prices amid recovering energy demand.

The net-zero target is only for its operations, not products.

US giant ExxonMobil and Qatar Energy signed a contract Friday for oil and gas exploration and production-sharing off the divided island of Cyprus despite Turkey’s opposition to the deal. Cypriot Energy Minister Natasa Pilides, Varnavas Theodosiou, CEO of ExxonMobil Cyprus, and Ali al-Mana, director of Qatar Energy’s International Upstream and...

The activists want the company to do more to address climate concerns

  Iraq got a boost from high oil prices as it made some $6 billion in oil revenues. The country is looking to buy from ExxonMobil a 32 percent stake in an oilfield     The economy of Iraq received a boost from oil revenues when the country made some...