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So far, Woods' plans have turned investors demanding an energy transition strategy into believers - at least on climate. At the same time, the company plans to have a leading role in the vehicle electrification business. Reuters GraphicsMORE OIL VS GREEN AMBITIONExxon's ambitious agenda includes starting up the world's largest hydrogen power plant by 2027. RISKY BUSINESSThe $17 billion budget for low carbon technologies as the company's total revenue grows next year "will continue to rise", the CEO said. Spending in low carbon currently is constrained by scarcity of customers willing to sign up for contracts and insufficient regulations, Woods said.

Persons: Darren Woods, Carlos Barria, Woods, ”, Paul Sankey, Sankey, Chris James, Dan Ammann, Goldman Sachs, Neil Mehta, Ammann, Brian Weeks, Chris Bohn, Sabrina Valle, Richard Valdmanis, Gary McWilliams, Anna Driver Organizations: ExxonMobil, Economic Cooperation, REUTERS, Exxon Mobil, Natural Resources, Chevron, Reuters, Exxon, Sankey Research, Carbon Solutions, Thomson Locations: Asia, San Francisco , California, U.S, United States, Sankey, Americas, Brazil, Guyana, Texas, Gulf of Mexico, Houston, Dubai

☆ Activist investor Ubben shutting down Inclusive Capital-sources
▼ + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.

Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston

Darren Woods, CEO of ExxonMobil, speaks at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S., November 15, 2023. REUTERS/Carlos Barria/File Photo Acquire Licensing RightsHOUSTON, Nov 29 (Reuters) - Exxon Mobil Corp (XOM.N) Chief Executive Darren Woods is making plans to attend the COP28 climate summit in Dubai next week, two people familiar with the matter said, in what would mark a first for an Exxon CEO, if confirmed. Woods is expected to advocate that reducing carbon emissions should be a priority in addressing climate change, rather than reducing oil production. "We commit to solving the world’s energy and emissions challenges simultaneously," Darren Woods said at the APEC CEO summit earlier this month. Exxon says technology advancements allowed it to join the initiative and that the decision guards no relation with Pioneer's acquisition.

Persons: Darren Woods, Carlos Barria, Woods, Sultan al, Jaber, Exxon's, Matt Kolesar, Sabrina Valle, Sarah McFarlane, Josie Kao, Aurora Ellis Organizations: ExxonMobil, Economic Cooperation, REUTERS, Rights, Exxon Mobil Corp, Exxon, APEC, Abu, Abu Dhabi National Oil Company, United, Natural Resources, Gas Methane Partnership, Reuters, United Nations Environment Programme, Shell, BP, Conoco, Chevron, Thomson Locations: Asia, San Francisco , California, U.S, Dubai, Abu Dhabi, United Nations, OGMP, Occidental

☆ Petrobras CEO replacement being discussed within Brazil gov't, sources say
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +1 min

President Luiz Inacio Lula da Silva has shown dissatisfaction with certain actions taken by CEO Jean Paul Prates. Lula asked the CEO to tweak Petrobras' investment plan to prioritize local job creation, Reuters reported last week. "There should be changes" in the presidency of Petrobras, one of the sources said. Last week, Mines and Energy Minister Alexandre Silveira said it was past time for Petrobras to reduce diesel and gasoline prices at its refineries. Reporting by Sabrina Valle and Lisandra Paraguassu; Writing by Peter Frontini; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

Persons: Luiz Inacio Lula da Silva, Jean Paul Prates, Lula, Prates, Alexandre Silveira, Sabrina Valle, Lisandra, Peter Frontini, David Gregorio Our Organizations: Petroleo Brasileiro SA Petrobras, HOUSTON, Petrobras, PETR4, Reuters, Mines, Energy, Thomson Locations: BRASILIA

[1/2] A logo of Brazil's state-run Petrobras oil company is seen at their headquarters in Rio de Janeiro, Brazil October 16, 2019. Lula told Prates that Petrobras should commission 25 ships to be built in Brazilian shipyards, instead of the four currently planned. When asked for comment, Petrobras referred Reuters to a Nov. 8 statement, in which it said it is still finalizing its investment plan. Last week, Reuters reported that Petrobras' plan will include around $100 billion in investments that the firm is both analyzing and those it has already committed to. In the previous 2023-2027 plan, Petrobras projected $78 billion in investments.

Persons: Sergio Moraes, Luiz Inacio Lula da Silva, Jean Paul Prates, Prates, Lula, Brazil's, Sabrina Valle, Lisandra Paraguassu, Rodrigo Viga Gaier, Marta Nogueira, Fabio Teixeira, Roberto Samora, Gabriel Stargardter, Marguerita Choy Organizations: REUTERS, HOUSTON, RIO DE, Petrobras, PETR4, Reuters, Thomson Locations: Rio de Janeiro, Brazil, BRASILIA, RIO, RIO DE JANEIRO, Brasilia, Mato Grosso, Sul, Petrobras

☆ Exxon to start lithium production for EVs in the U.S. by 2027
▼ + stars: | 2023-11-13 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +3 min

[1/2] Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Ammann did not disclose how much Exxon intends to invest in the lithium business, or when it might become profitable. Exxon plans to begin production with partner Tetra Technologies, Reuters exclusively reported on Saturday. It will produce the metal onsite and sell it under the brand name Mobil Lithium, the company said on Monday. Exxon is focusing on lithium production to be used not only in EVs but also consumer electronics and energy storage systems that can hold electricity generated from intermittent solar and wind power.

Persons: Dado Ruvic, Dan Ammann, Ammann, Sabrina Valle, Sourasis Bose, Maju Samuel, Bernadette Baum Organizations: Exxon Mobil, REUTERS, Companies, Exxon, Tetra Technologies HOUSTON, Exxon's, Imperial, Tetra Technologies, Reuters, Mobil, BP, Shell, Deloitte, Thomson Locations: China, United States, Europe, Arkansas, U.S, Alberta, Canada, Houston, Bengaluru

☆ Occidental Petroleum beats Q3 estimates on higher production
▼ + stars: | 2023-11-08 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +2 min

The logo for Occidental Petroleum is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 30, 2019. The oil and gas company reported a $1.18 a share profit compared to average Wall Street analyst forecasts for an 84 cent a share profit, according to LSEG. Its chemical and midstream unit earnings fell compared to a year ago. Midstream swung to a loss of $130 million from a $104 million profit. Its chemicals business profit fell to $373 million from $580 million a year ago.

Persons: Brendan McDermid, Warren Buffett's, Midstream, Sabrina Valle, Sourasis Bose, Krishna Chandra Eluri, Stephen Coates, Jamie Freed Organizations: Occidental Petroleum, New York Stock Exchange, REUTERS, Rights, Tuesday, Occidental, Berkshire Hathaway's, Anadarko Petroleum, BlackRock, Devon Energy, Thomson Locations: New York, U.S, Berkshire, Occidental, Texas, Devon, Houston, Bengaluru

☆ Exxon names new shale oil chief to replace executive facing assault charge
▼ + stars: | 2023-10-30 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +3 min

Cahir has previously run Exxon's shale business including its XTO unit as senior vice president of Unconventional from July 2020 through April 2022. Unconventional is Exxon's term for shale oil and gas. That purchase will bring Exxon's shale output to 1.3 million barrels of oil and gas (boepd), more than a quarter of its overall production. Cahir led Exxon's Unconventional unit as senior vice president as Exxon implemented tough costs cuts following the collapse of oil and gas prices during the pandemic. NO PLEAFormer shale boss Scott appeared before a Texas judge last week on second-degree felony sexual assault.

Persons: Dado Ruvic, Bart Cahir, Cahir, Exxon Mobil's, David Scott, Scott, Dan Cogdell, Cogdell, Ken Paxton, Paxton, Sabrina Valle, Erwin Seba, David Gregorio, Jonathan Oatis Organizations: Exxon Mobil, REUTERS, Exxon, Pioneer, Solutions, Natural Resources, Exxon's, Texas, Thomson Locations: HOUSTON, Cahir, Midland, U.S, Delaware, Texas

ExxonMobil and Pioneer Natural Resources logos are seen in this illustration taken, October 6, 2023. After brief informal conversations earlier this year, Exxon approached Pioneer about a deal last month, the sources said. Exxon's shares were hovering near record highs, and it had a cash pile of about $30 billion. Woods had already capitalized on elevated energy prices to streamline Exxon's operations and focus on highly profitable oil and gas production. This allowed Exxon to enter the deal negotiations with its stock coveted by investors as a valuable currency.

Persons: Dado Ruvic, Darren Woods, Scott Sheffield, Woods, Darren, Sheffield, Scott, Sabrina Valle, David French, Anirban Sen, Sonali Paul Organizations: ExxonMobil, Pioneer, REUTERS, HOUSTON, Exxon Mobil Corp's, Natural Resources, Exxon, Sheffield, Thomson Locations: Guyana, Sheffield, Houston, New York

The deal, valued at $253 a share, would be Exxon's biggest since its $81 billion purchase of Mobil Oil in 1998, years before the shale boom began. It combines the largest U.S. oil company with one of the most successful names to emerge from the shale revolution that turned the country into the world's largest oil producer in little more than a decade. Pioneer is the Permian's largest operator accounting for 9% of gross production, while Exxon occupies the No. "The combination of ExxonMobil and Pioneer creates a diversified energy company with the largest footprint of high-return wells in the Permian Basin," said Pioneer CEO Scott Sheffield. Under Sheffield, Pioneer grew through rapid-fire purchases, including multi-billion dollar deals in 2021 for DoublePoint Energy and Parsley Energy.

Persons: Darren Woods, ” Woods, Scott Sheffield, Shubhendu, Anirban Sen, Sabrina Valle, Gary McWilliams, Rashmi Aich, Jamie Freed, Sriraj Organizations: Exxon Mobil, Natural Resources, Mobil Oil, Exxon, Reuters, Pioneer, RBC Capital Markets, ExxonMobil, DoublePoint Energy, Parsley Energy, BG Group, Denbury, Shubhendu Deshmukh, Thomson Locations: HOUSTON, Ukraine, U.S, Sheffield, Bengaluru, New York, Houston

ExxonMobil and Pioneer Natural Resources logos are seen in this illustration taken, October 8, 2023. Pioneer shares closed at $237.41 on Tuesday, having risen 11% since the first reports of a deal surfaced last Thursday. Exxon declined to comment on "market speculation," while Pioneer did not immediately respond to a request for comment. It is the third-largest oil producer in the Permian basin, after Chevron Corp (CVX.N) and ConocoPhillips (COP.N), with rock-bottom production costs averaging about $10.50 per barrel of oil and gas. Under CEO Scott Sheffield, the oil producer grew through rapid-fire purchases, including multi-billion dollar deals in 2021 for DoublePoint Energy and Parsley Energy.

Persons: Dado Ruvic, Darren Woods, Scott Sheffield, Exxon's, Shubhendu, Anirban Sen, Sabrina Valle, Gary McWilliams, Rashmi Aich, Jamie Freed Organizations: ExxonMobil, Pioneer, REUTERS, Exxon Mobil, Natural Resources, Exxon, Mobil Oil, Antitrust, Reuters, Exxon socked, Chevron Corp, ConocoPhillips, DoublePoint Energy, Parsley Energy, BG Group, Bloomberg News, Denbury Inc, Denbury, Shubhendu Deshmukh, Thomson Locations: HOUSTON, Ukraine, U.S, Bengaluru, New York, Houston

☆ Exxon investors ready to embrace buying existing oil over new drilling
▼ + stars: | 2023-10-06 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +4 min

In the last four years energy investors have dumped stocks in oil companies that boost capital spending, favoring higher returns over spending on costly, long-term new projects. But Exxon shares last month hit a record high of $120, lifted by returns on its oil, gas and refining businesses. 2 Permian shale oil producer, for $60 billion, signals it is ready to pay up for production after missing its own output targets in the Permian. A deal would bring Exxon to about 1.33 million barrels of oil and gas per day, the largest in the oilfield. It has good reserves, growing production, spending in check and debt at healthy levels, he said.

Persons: Lucas Jackson, Exxon Mobil's, Bill Smead, Vince Lorusso, Lorusso, Shale Research Alexandre Ramos, Kathryn Mikells, Bass, Scott Hanold, Matthew Bernstein, Sabrina Valle, Anna Driver, Diane Craft Organizations: Exxon Mobil Corporation, New York Stock Exchange, REUTERS, Rights, Exxon, Natural Resources, Smead Capital Management, Clough Capital Partners, Management, Shale Research, XTO Energy, RBC Capital Markets, ExxonMobil, Rystad Energy, Thomson Locations: New York, Ukraine, U.S, Americas, Guyana

☆ What Wall St, policymakers have to say on potential Exxon-Pioneer deal
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +3 min

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. A deal would be Exxon's biggest acquisition since its $81 billion deal for Mobil in 1998 and could deepen the oil major's position in the country's most lucrative oil patch. Following are the comments on the likely deal. BILL SMEAD, CHIEF INVESTMENT OFFICER OF SMEAD CAPITAL MANAGEMENT"I can't imagine any deal is going to go for less than $65 billion, considering Pioneer is currently trading around $50 billion . I mean there's no question the position of that magnitude or size would give them considerable leverage in negotiating or contracts with the service providers."

Persons: Lucas Jackson, BILL SMEAD, PETER MCNALLY, Scott Sheffield, SHELDON WHITEHOUSE, BEN COOK, HENNESSY, NEAL DINGMANN, Arunima Kumar, Sourasis Bose, Sabrina Valle, Raphael Satter, Arun Koyyur Organizations: Exxon Mobil Corporation, New York Stock Exchange, REUTERS, Exxon Mobil, Natural Resources, Mobil, RBC, RHODE, Exxon, Thomson Locations: New York, United States, Bengaluru, Houston

Exxon Mobil logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Exxon shares were down 1.6%Friday's gains leave the stock short of the offer, as it is possible that the two companies will not reach an agreement. If the negotiations conclude successfully, an agreement between Exxon and Pioneer could be reached in the coming days, Reuters reported on Thursday, citing three sources. "Pioneer is the Permian's largest operator at 9% of gross production while Exxon is No. Combined amounts to 15% of operated Permian production, but only 6% of total US production.

Persons: Dado Ruvic, Andrew Dittmar, Enverus, Scott Hanold, Bill Smead, Mrinalika Roy, Sourasis Bose, Arunima Kumar, Sabrina Valle, Sriraj Organizations: Exxon Mobil, REUTERS, Natural Resources, Mobil, Reuters Graphics, Exxon, Pioneer, Reuters, RBC Capital, Smead Capital Management, Thomson, & $ Locations: Bengaluru, Houston

[1/2] The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998 and would expand its footprint in one of the most lucrative regions of the U.S. oil patch. Pioneer, which had a market value as of Thursday of $50 billion, is the third-largest producer of oil in the Permian basin after Chevron Corp (CVX.N) and ConocoPhillips (COP.N). Exxon produced about 620,000 boed in the Permian basin in the second quarter, a record for the company. Chevron Corp (CVX.N), for example, agreed in May to acquire shale producer PDC Energy Inc in a stock-and-debt transaction worth $7.6 billion.

Persons: Angus Mordant, Bill Smead, Exxon, Scott Sheffield, Richard Dealy, David French, Anirban Sen, Sabrina Valle, Greg Roumeliotis, Lincoln, Kim Coghill Organizations: REUTERS, Exxon Mobil, Natural Resources, Mobil, Chevron Corp, ConocoPhillips, Exxon, Pioneer, Street Journal, Smead Capital Management, Energy Inc, DoublePoint Energy, Parsley Energy, Thomson Locations: Loving County , Texas, U.S, Texas, New Mexico, Ukraine, dealmaking, Dallas, New York, Houston

[1/2] The sun sets behind a crude oil pump jack on a drill pad in the Permian Basin in Loving County, Texas, U.S. November 24, 2019. The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998 and would expand its footprint in one of the most lucrative regions of the U.S. oil patch. Pioneer, which had a market value as of Thursday of $50 billion, is the third-largest producer of oil in the Permian basin after Chevron Corp (CVX.N) and ConocoPhillips (COP.N). If the negotiations conclude successfully, an agreement between Exxon and Pioneer could be reached in the coming days, the three sources said, asking not to be identified because the matter is confidential. Exxon produced about 620,000 boed in the Permian basin in the second quarter, a record for the company.

☆ Exxon-Pioneer deal talks: What Wall St, policymakers have to say
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +4 min

The logo of Exxon Mobil Corporation is shown on a monitor above the floor of the New York Stock Exchange in New York, December 30, 2015. It would be Exxon's biggest acquisition since its $81 billion deal for Mobil in 1998 and could deepen the oil major's position in the country's most lucrative oil patch. MATTHEW BERNSTEIN, SENIOR SHALE ANALYST, RYSTAD ENERGY"If Exxon Mobil is crowned the undisputed king of the Permian in the coming days, the shale sector will fundamentally become a more mature consolidated business." "A deal the size of Exxon Mobil's potential acquisition of Pioneer, however, could usher in a new 'Shale 4.0' era ... BILL SMEAD, CHIEF INVESTMENT OFFICER OF SMEAD CAPITAL MANAGEMENT"I can't imagine any deal is going to go for less than $65 billion, considering Pioneer is currently trading around $50 billion .

Persons: Lucas Jackson, MATTHEW BERNSTEIN, MARK VIVIANO, Scott Sheffield, BILL SMEAD, PETER MCNALLY, SHELDON WHITEHOUSE, BEN COOK, HENNESSY, NEAL DINGMANN, Arunima Kumar, Sourasis Bose, Sabrina Valle, Raphael Satter, David French, Sriraj Kalluvila, Arun Koyyur Organizations: Exxon Mobil Corporation, New York Stock Exchange, REUTERS, Exxon Mobil, Natural Resources, Mobil, Exxon, RBC, RHODE, Thomson Locations: New York, United States, Bengaluru, Houston

☆ Guyana contractor in US probe leaves $300 million Exxon shore base project
▼ + stars: | 2023-10-04 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +4 min

Mohamed's decision to leave the consortium could reduce complications for the Texas-based company should U.S. authorities decide to levy sanctions on the pair or file an indictment. The construction of the shore base is part of Exxon’s efforts to expand oil production off Guyana’s coast, an important part of the company's growth plans. Following the Reuters report in July, Exxon had made an internal decision to remain neutral on the Mohameds, according to four sources with knowledge of the matter. Nazar was quoted in local media on Tuesday saying his decision to leave the consortium was based on religious beliefs. Reporting by Sabrina Valle; Editing by Richard Valdmanis, Richard Chang and Aurora EllisOur Standards: The Thomson Reuters Trust Principles.

Persons: Nazar Mohamed, Azruddin, Mohamed's, Alistair Routledge, Mohamed, Exxon, Andron Alphonso, Nicholas Deygoo, Boyer, Jan De Nul, Nazar, Washington, “, ”, George McEachern, Sabrina Valle, Richard Valdmanis, Richard Chang, Aurora Ellis Organizations: Exxon, Exxon Mobil Corp, Reuters, Mohamed’s, NRG Holdings, Company, U.S, FBI, International Corruption, Thomson Locations: Guyana HOUSTON, American, Texas, U.S, United States, Venezuela, Guyana, Vreed, European

☆ Exxon 3Q profits to climb from last quarter on higher prices
▼ + stars: | 2023-10-04 | by ( Sabrina Valle | Thomson Reuters | U.S. Energy Correspondent Focused In Covering Global Operations Of Oil Majors Out Of Houston. | ) www.reuters.com time to read: +2 min

Exxon's snapshot of operating profits, delivered in a securities filing after the market close, signals a good quarter for oil companies on high oil prices and strong demand for gasoline and diesel. Exxon's oil and gas production earnings were boosted by an about 30% increase in average crude oil prices during the period. The securities filing put oil and gas operating profits at between $5.2 billion and $6.7 billion, compared to last year's $12.4 billion in its third-quarter oil and gas business. Refining also slipped to less than half the year ago's $5.8 billion operating profit. Exxon shares fell nearly 4% on Wednesday to $111.50 as oil prices tumbled on a global bond sell-off and rising interest rates.

Persons: Dado Ruvic, Brent, Tanay, Maju Samuel, Lisa Shumaker Organizations: Exxon Mobil, REUTERS, Rights, JPMorgan, Refining, Exxon, Thomson Locations: U.S, Ukraine, Bengaluru

Sept 28 (Reuters) - U.S. oil producers Exxon Mobil (XOM.N) and Hess Corp (HES.N) have withdrawn from exploring the Kaieteur block in Guyana’s deepwaters, Exxon said on Thursday, after disappointing exploration results. The exit comes as the producers focus on their larger and highly productive Stabroek block, where more than 11 billion barrels of oil and gas have been discovered so far. The companies have transferred their stakes in the block to Ratio Guyana Limited and Cataleya Energy Limited, which originally held the exploration licenses, Exxon said. A consortium composed of Exxon, Hess and CNOOC Ltd (0883.HK) control all offshore production in Guyana through the Stabroek block. Exxon and Hess were among oil companies that submitted bids in an auction for 14 other oil and gas exploration blocks.

Persons: Exxon, Hess, Kiana Wilburg, Sabrina Valle, Chris Reese, Leslie Adler Organizations: Exxon Mobil, Hess Corp, Exxon, Guyana, Cataleya Energy, Hess, CNOOC Ltd, Qatar Energy, Thomson Locations: deepwaters, HK, Guyana, Stabroek, Georgetown, Houston

A woman walks in the Chevron office as the U.S. government granted a six-month license allowing Chevron to boost oil output in U.S.-sanctioned Venezuela, in Caracas, Venezuela December 2, 2022. Current oil flows mark a 70%-increase from average output in 2022. But to go further requires large specialized drilling rigs that might be difficult to find in Venezuela, the people said. The California-based company's campaign calls for addition of at least two powerful drilling rigs. Other foreign oil companies in joint ventures with PDVSA also have begun early planning for possible drilling campaigns.

Persons: Gaby Oraa, Petropiar, PDVSA, Chevron, Marianna Parraga, Sabrina Valle, Matt Spetalnick, David Gregorio Our Organizations: Chevron, REUTERS, Companies, Chevron Corp, OPEC, Treasury, U.S . Office, Foreign Assets, U.S, PDVSA, Thomson Locations: Venezuela, Caracas, HOUSTON, Washington, The California, Lake Maracaibo, U.S

While the Florida governor had acknowledged that human-induced climate change was real earlier in his career, he has since backed away from that position, a shift that was apparent on Wednesday. "We will unleash American energy dominance as a way to stop inflation and achieve $2 gas in 2025," DeSantis said on Wednesday. DeSantis' speech, which was meant to broadly lay out his energy policy, comes as his campaign is in need of a boost. In addition to expanding fossil fuel production, DeSantis called for significant investments in so-called critical minerals, including the creation of a Critical Mineral Strategic Reserve. DeSantis said he would seek to require plaintiffs to pay compensation when they bring spurious litigation against energy projects.

Persons: Ron DeSantis, Mike Pence, Vivek Ramaswamy, Nikki Haley, Brian Snyder, DeSantis, Donald Trump's, Joe Biden, Harold Hamm, Dan Eberhart, Donald Trump, Gram Slattery, Sabrina Valle, Richard Valdmanis, James Oliphant, Timothy Gardner Organizations: U.S, South Carolina, Republican, REUTERS, Rights, Energy, Democrat, Continental Resources, Environmental Protection Agency, Republicans, Securities and Exchange Commission, Reserve, Thomson Locations: Florida, Milwaukee , Wisconsin, U.S, Midland , Texas, Texas, Colorado, California, Iowa

While the Florida governor had acknowledged that human-induced climate change was real earlier in his career, he has since backed away from that position. "We will unleash American energy dominance as a way to stop inflation and achieve $2 gas in 2025," DeSantis said on Wednesday. DeSantis' speech, which is meant to broadly lay out his energy policy, comes as his campaign is in need of a boost. The Florida governor has slid in the polls for months, and he now sits 37 points behind former President Donald Trump, according to the latest Reuters/Ipsos poll. In addition to expanding fossil fuel production, DeSantis called for significant investments in so-called critical minerals, including the creation of a Critical Mineral Strategic Reserve.

Persons: Ron DeSantis, Mike Pence, Vivek Ramaswamy, Nikki Haley, Brian Snyder, DeSantis, Harold Hamm, Dan Eberhart, Donald Trump, Gram Slattery, Sabrina Valle, Richard Valdmanis, James Oliphant, Timothy Gardner Organizations: U.S, South Carolina, Republican, REUTERS, Rights, Continental Resources, Environmental Protection Agency, Republicans, Reserve, Thomson Locations: Florida, Milwaukee , Wisconsin, U.S, Midland , Texas, Texas, Colorado, California

☆ Republican Hopeful DeSantis Attacks EVs, Emission Goals in Energy Plan
▼ + stars: | 2023-09-20 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +3 min

Taken as a whole, the plan represents a doubling down on pledges DeSantis and most of his Republican opponents have made on the campaign trail to jettison limits on fossil fuel production and consumption. While the Florida governor had acknowledged that human-induced climate change was real earlier in his career, he has since backed away from that position. The Florida governor has slid in the polls for months, and he now sits 37 points behind former President Donald Trump, according to the latest Reuters/Ipsos poll. DeSantis' plan calls on pensions and government accounts to eliminate environmental, social or governance considerations, known as ESG, from consideration when making investment considerations, a plan which tracks closely with moves he made as Florida governor. In addition to expanding fossil fuel production, DeSantis' plan calls for significant investments in so-called critical minerals, including the creation of a Critical Mineral Strategic Reserve.

Persons: Gram Slattery WASHINGTON, Ron DeSantis, DeSantis, Harold Hamm, Dan Eberhart, Donald Trump, Gram Slattery, Sabrina Valle, Richard Valdmanis, James Oliphant, Timothy Gardner Organizations: Republican, Continental Resources, Environmental Protection Agency, Republicans, Reserve Locations: Midland , Texas, Florida, Texas, Colorado, California

☆ Exxon working on direct air capture of CO2, stays out of EV charging stations
▼ + stars: | 2023-09-19 | by ( Nia Williams | ) www.reuters.com time to read: +3 min

Direct air capture involves extracting carbon directly from the atmosphere. The technology could be developed on the back of Exxon's carbon capture and storage (CCS) business which will also involve trapping emissions underground, Crocker said. Exxon last year extended a joint research agreement with DAC developer Global Thermostat, intended to accelerate development of the technology for full-scale deployment. DAC "would link very closely to our CCS business where we are going to have large geologic storage and the capability to capture CO2," Crocker said. Limiting its own emissions and CCS take up the majority of the $17 billion allocated for Exxon's Low Carbon business through 2022-2027.

Persons: Sergio Moraes, Matthew Crocker, Crocker, Sabrina Valle, David Gregorio Our Organizations: Exxon Mobil Corp, Oil, Gas Expo, REUTERS, Rights, Exxon, United Nations, Global, Occidental, CCS, Exxon's, Deloitte, Thomson Locations: Rio de Janeiro, Brazil, Rights CALGARY , Alberta, Houston

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