Qatar names TotalEnergies of France as its first foreign partner. Exxon Mobil, Shell and ConocoPhilips are expected to take 25 percent. Production will start in 2026 and expansion is “on target”. Qatar named TotalEnergies of France as its first foreign partner to develop the world’s largest natural gas field, which will eventually help alleviate Europe’s … Read more
U.S. consumer inflation accelerated in May as oil prices hit a record high. The cost of food soared, leading to the largest annual increase in four decades. A gallon of regular gasoline costs an average of $4.99 nationwide on Friday, according to AAA. U.S. President Joe Biden on Friday charged the U.S. oil industry, and … Read more
NEW YORK: Exxon Mobil made $5.48 billion in profits in the first quarter, more than doubling its profits compared to the same quarter last year, as oil and gas prices grew consistently. However, due to the war, the oil giant had to quit its Russian activities, resulting in a $3.4 billion write-down. Including that loss, … Read more
RIYADH: The US-based oil field service company, Halliburton, is in talks with Exxon Mobil about the sale of a stake in the huge West Qurna-1 oil field in southern Iraq. Iraq will step in to buy the stake, if the talks with Halliburton fail, but it wants a US partner for Exxon’s stake, Bloomberg reported, citing the … Read more
