ExxonMobil sues EU over plans for bloc-wide windfall tax December 28, 2022 ExxonMobil has filed a lawsuit against the EU in a bid to overturn the trading bloc’s plans to impose a windfall tax on energy companies. The US oil major is seeking to challenge the EU’s authority to impose a 33 per cent levy on energy companies’ profits during the fiscal year 2022. Two of [...]
Exxon Mobil to unveil monster profits powered by oil and gas boom October 23, 2022 Exxon Mobil is expected unveil another quarter of monster profits powered by high natural gas prices next week.
Exxon records record quarterly profits of $9.3bn April 4, 2022 Oil giant Exxon had record quarterly profits of almost $9.5bn, with Russia’s war in Ukraine ramping up production and the price of oil. America’s largest oil firm cashed in as the conflict pushed up oil to $114 per barrel, a seven-year high, and a 45 per cent increase from the previous quarter. Its record profits [...]
Microsoft among best firms to work for despite CEO making 410 times average salary March 14, 2022 HP and Microsoft are some of the best Fortune 500 firms to work for, with high average earnings despite eye-watering sums going to those at the top. Chief executives for some of the world’s leading companies earn up to 840 times the average employee according to a new report released this week. Ranked number one [...]
Motorists to be hit by fuel shortages as Exxon workers plan walkout February 21, 2022 Motorists could soon face fuel shortages as workers at the UK’s largest refinery have voted in favour of strike action over salaries. Around 100 workers at Exxon’s Fawley refinery will walkout starting from April after the oil giant decided offered a 2.5 per cent raise in salaries over the next two years, even though inflation [...]
ExxonMobil cuts costs and combines businesses amid activist pressure February 1, 2022 ExxonMobil is cutting costs amid activist pressure, in a bid to boost returns and accelerate its transition to a greener future.
Ministers urge Brits not to panic buy food and fuel as shortages spread September 24, 2021 Government ministers urged Brits not to panic buy fuel and goods as the shortage of lorry drivers is increasingly hitting supplies across the UK. Yesterday, BP said a number of its filling stations are closed due to a lack of fuel available, while Esso owner ExxonMobil also said some of its Tesco Alliance petrol forecourts [...]
Exxon Mobil lobbyist admits to denying climate science in lobbying efforts July 1, 2021 A senior Exxon Mobil lobbyist has been captured on camera revealing how the oil giant is using its power and influence to water down US climate legislation. The footage was obtained by Greenpeace UK’s investigators, who posed as head-hunters to obtain the information from one of Exxon Mobil’s most senior Washington lobbyists. Exxon Mobil has [...]
Activist hedge fund wins Exxon board seats in seismic day for big oil May 26, 2021 The oil industry was rocked today as hedge fund minnow Engine No. 1 saw two of its nominees elected to behemoth Exxon Mobil’s famously insular board. Engine No. 1’s victory, which came after a months-long fight with the Texas-based firm, could pile pressure on the company to speed up its diversification away from fossil fuels. [...]
PIRC sides with activist investor in Exxon boardroom battle May 12, 2021 Governance advisor Pensions & Investment Research Consultants (PIRC) has recommended Exxon Mobil shareholders vote in favour of four hedge fund board nominees, adding further fuel to the battle for Exxon’s boardroom. Exxon and activist hedge fund Engine No. 1 are battling over board seats and Exxon’s strategy to meet demands for lower-carbon energy. The fund has nominated four board [...]