ExxonMobil said today it has launched a legal challenge to a finding by the Treasury Department’s Office of Foreign Assets Control (OFAC) that it violated U.S. sanctions against Russia in 2014 when the company followed authoritative and specific guidance from the Obama administration that OFAC retroactively changed a year later. “OFAC seeks to retroactively enforce a new interpretation of an executive order [...]
The University of Wisconsin-Madison and ExxonMobil have announced a two-year renewal of an agreement to research the fundamental chemistry of converting biomass into transportation fuels. The research is part of a broad effort to identify scalable and commercially viable solutions to help meet increasing global energy demand with a renewable resource. This Smart News Release features multimedia. View the full release [...]
Exxon Mobil Corporation (NYSE:XOM) announced today that its subsidiary ExxonMobil Exploration and Production Suriname B.V., along with co-venturers Hess and Statoil, signed a production sharing contract for Block 59 with Staatsolie Maatschappij Suriname N.V., the national oil company of Suriname. The block adds significant acreage to ExxonMobil’s operated portfolio in the Guyana-Suriname Basin. Deepwater Block 59 is [...]
Scientists from Exxon Mobil Corporation (NYSE:XOM) and Synthetic Genomics, Inc. will hold a press briefing today at the 2017 BIO International Convention in San Diego to discuss a breakthrough in the companies’ research into the development of algae biofuels involving the modification of an algae strain that more than doubled its oil production without significantly inhibiting the strain’s growth. Results of [...]
ExxonMobil and Synthetic Genomics Inc. today announced a breakthrough in joint research into advanced biofuels involving the modification of an algae strain that more than doubled its oil content without significantly inhibiting the strain’s growth. Using advanced cell engineering technologies at Synthetic Genomics, the ExxonMobil-Synthetic Genomics research team modified an algae strain to enhance the algae’s [...]
Exxon Mobil Corporation (NYSE:XOM) said today it has made a final investment decision to proceed with the first phase of development for the Liza field, one of the largest oil discoveries of the past decade, located offshore Guyana. The company also announced positive results from the Liza-4 well, which encountered more than 197 feet (60 meters) of high-quality, oil-bearing sandstone reservoirs, which will underpin a [...]
Exxon Mobil Corporation (NYSE:XOM) today announced positive production well test results from the Muruk 1 sidetrack 3 well in the Papua New Guinea North Highlands located about 13 miles (21 kilometers) northwest of the Hides gas field. The well successfully flowed gas at a rate of 16 million standard cubic feet per day. The well rate was constrained by test facilities which limited tests to short flow and build up [...]
New York Attorney General Eric Schneiderman made “inflammatory, reckless and false allegations” when he misstated how ExxonMobil assesses the potential impacts of climate policy on its business to justify expanding a politically based investigation with “ever-shifting and unravelling investigative theories.” “From the outset of this investigation, it has been clear that the attorney general [...]
Exxon Mobil Corporation (NYSE:XOM) today announced that its wholly owned affiliate, Exploration and Production Equatorial Guinea (Deepwater) Ltd., has signed a production sharing contract with the government of Equatorial Guinea for a deepwater block located 36 miles west of Malabo. “We look forward to building on our more than 20-year history of safe operations in Equatorial Guinea with this new high-quality [...]
To commemorate the 20th anniversary of the UTeach program, ExxonMobil has provided a grant of more than $275,000 to DonorsChoose.org that will provide each public school UTeach alumnus with funding for classroom projects. The UTeach program is an innovative, university-based teacher preparation initiative that has significantly increased the number of qualified science, technology, engineering and math (STEM) teachers in [...]
ExxonMobil Chemical Company announced today the mechanical completion of two new 650,000 tons per year high performance polyethylene lines at its plastics plant in Mont Belvieu, Texas. The company expects production to begin during the third quarter of 2017. Part of a previously announced multi-billion dollar expansion project in the Baytown area, the polyethylene lines will process ethylene feedstock from the new steam [...]
Affiliates of Exxon Mobil Corporation (NYSE: XOM) and SABIC (Saudi Basic Industries Corporation) signed an agreement today to conduct a detailed study of the proposed Gulf Coast Growth Ventures project in Texas and begin planning for front-end engineering and design work. The agreement was signed during the Saudi-US CEO Forum in Riyadh in the presence of Yousef Al-Benyan, SABIC vice chairman and chief executive officer [...]
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