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SABIC, Exxon Mobil JV on Gulf Coast Prepares for Initial Startup – Report
Saudi petrochemicals firm SABIC said on Sunday its joint venture project with ExxonMobil in the U.S. Gulf Coast has started commissioning activities and preparing for an initial startup, according to Reuters.
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Saudi Energy Minister Khalid Al-Falih in Washington Today to Meet with Secretary Perry
Saudi Arabia’s Energy Minister Khalid Al-Falih is in Washington D.C. on Monday to meet with Secretary of Energy Rick Perry, according to a Reuters report which cited a Trump administration official and the Department of Energy. Saudi Arabia has markedly increased oil exports to America in recent months, according to Bloomberg. This weekend, the energy minister […]
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Ambassador Prince Khaled bin Salman Phones Tex. Gov Abbott to Express Saudi Support after Harvey as Students Pitch In
Saudi Arabia’s Ambassador to the United States Prince Khaled bin Salman telephoned Texas Governor Greg Abbott to confirm that Saudi Arabia supports the American people following the disaster of Hurricane Harvey. Harvey, which flooded many parts of Texas and Louisiana and caused dozens of deaths and billions in damage, was one of the worst storms to […]
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Counting The US-Saudi Deals: A Look at What We Know So Far following President Trump’s Visit to Saudi Arabia
Bloomberg and naturalgasintel.com feature a thorough rundown of all of the deals that were announced during the recent visit by President Donald Trump to Saudi Arabia. While the total remains unknown, the deals are estimated to be valued between $300 and $400 billion. Aerospace, Arms and Defense – $110 billion U.S. Department of Defense and Saudi […]
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Trump Administration Taking ‘More Saudi-Friendly Approach to the Conflict in Yemen’
The U.S. State Department’s approval of a resumption of weapons sales to Saudi Arabia that would reverse a decision by President Obama is “a potential sign of reinvigorated U.S. support for the kingdom’s involvement in its neighbor’s ongoing civil war,” the Washington Post reports. President Trump must approve the reversal, which was ordered by Secretary of […]
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ExxonMobil Announces $20 billion Investment in Manufacturing on U.S. Gulf Coast
Exxon Mobil Corporation said in a press release that it is expanding its manufacturing capacity along the U.S. Gulf Coast through planned investments of $20 billion over a 10-year period “to take advantage of the American energy revolution.” The projects, at 11 proposed and existing sites, are expected to generate thousands of new high-paying jobs and […]
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Secretary of State Tillerson Calls Saudi King Salman, Applauds Saudi Role in Regional Stability
U.S. Secretary of State Rex Tillerson called Saudi Arabia’s King Salman by phone yesterday, and commended the Kingdom on its role in “promoting stability across the region,” the SPA reports. Tillerson also “stressed on the importance of working with the Kingdom, developing a comprehensive plan to strengthen bilateral relations and cooperation both military and counter-terrorism […]
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SABIC, Exxon Affiliate Studying JV Petrochemicals Complex on U.S. Gulf Coast
Saudi Arabia’s SABIC said Monday it is studying launching a jointly-owned petrochemicals complex with an affiliate of U.S. Exxon Mobil. fIf developed, the project would be “located in Texas or Louisiana near natural gas feedstock and include a world-scale steam cracker and derivative units,” the company said. Before making final investment decisions, the companies will “conduct necessary […]
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Abu Dhabi Buzzes On Eve of World Future Energy Summit ‘13
World Leaders, Luminaries, Companies and Businessmen Descend on Abu Dhabi For the 6th edition of the World’s Largest Renewable Energy Conference and Exhibition [Abu Dhabi] – This week, world leaders, government officials and delegations, business executives, academics, engineers, scientists and many more will converge for the World Future Energy Summit 2013, part of Abu Dhabi’s […]
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ExxonMobil’s CEO doesn’t care about his growth plans annoying Saudi Arabia
“We expect to grow our volumes in 2024 to about 650,000 barrels per day, and then we’re going to continue that growth through to the targets that we’ve laid out in 2027 of about a million barrels a day,” CEO Darren Woods said on a call with investors.
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ExxonMobil, SABIC Start Operations At Gulf Coast Manufacturing Facility
ExxonMobil and SABIC have partnered together for 40 years on petrochemical projects. Gulf Coast Growth Ventures represents their first joint venture in the Americas. SABIC is the operating partner for two long-standing joint ventures with ExxonMobil in the Kingdom of Saudi Arabia, Kemya in Jubail and Yanpet in Yanbu. Ownership interests in Gulf Coast Growth Ventures is evenly divided with 50 percent to ExxonMobil and 50 percent to SABIC. ExxonMobil is the site operator.
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Saudi Arabia’s SABIC launches U.S. Gulf Coast project with ExxonMobil
Petrochemicals giant Saudi Basic Industries Corp's (SABIC) (2010.SE) joint venture project with ExxonMobil (XOM.N) in the U.S. Gulf Coast, which involves an ethylene production unit, has begun commercial operations, it said on Thursday. The company announced plans on Sept. 19 to establish an ethylene production unit with annual capacity of about 1.8 million tonnes, SABIC said in a bourse statement.
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SABIC, ExxonMobil JV in U.S. preparing for initial startup
Saudi Basic Industries, the world's fourth-biggest petrochemicals firm, said on Sunday its joint venture project with ExxonMobil in the U.S. Gulf Coast has started commissioning activities and preparing for an initial startup. The project includes the establishment of an ethylene production unit with annual capacity of about 1.8 million tonnes, which will feed two polyethylene units and a monoethylene glycol unit, it said in a statement.
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ExxonMobil reports results for fourth quarter 2020 and provides perspective on forward plans
Exxon Mobil Corporation today announced an estimated fourth quarter 2020 loss of $20.1 billion, or $4.70 per share assuming dilution. Fourth quarter capital and exploration expenditures were $4.8 billion, bringing full-year spending to $21.4 billion, $9.8 billion lower than the prior year.
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ExxonMobil reports its first annual loss since its merger
Annual revenue at ExxonMobil plunged $83.4 billion, or 31.5%, to $181.5 billion. "The past year presented the most challenging market conditions ExxonMobil has ever experienced," said CEO Darren Woods on a conference call.
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ExxonMobil raises production outlook as it balances offshore and onshore growth
Register Now ExxonMobil on Wednesday raised expectations for oil and gas production growth to 135% between 2017 and 2025, based on higher-than-expected Permian Basin production, as well as exploration success and development plans at its Guyana and Brazil offshore holdings.
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Shell, Eni, ExxonMobil win concessions in Egypt tender
Shell won most of the concessions in an oil and gas exploration tender organized by the Egyptian natural gas holding company and the country's General Petroleum Corporation.
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Permian Boosts ExxonMobil, Chevron Earnings
Exxon surpassed analysts’ forecasts by almost one-third with the biggest refining bonanza in six years and Permian Basin crude output that almost doubled.
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Analysis: ExxonMobil’s Shale Oil Dilemma
Exxon’s recent Permian acquisition is likely just the first step in the company’s strategic pivot towards shales.
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