Exxon, Chevron beat analysts' estimates on permian oil supply boost

Quick Summary:

Exxon’s fast-growing oil developments in Guyana and the Permian Basin are producing crude for less than $35 a barrel at a time when a barrel fetches more than $70, and Exxon is working on several gas-export projects in Texas, Papua New Guinea and Mozambique.

Chevron announced plans to relocate its corporate headquarters to Houston from the San Francisco Bay area earlier this year after 145 years of being based in the Golden State.(Updates with comparison to European peers in third paragraph.

As for Chevron, the explorer expects to close asset sales in Canada, Congo and Alaska by the end of the year as part of a plan to raise as much as $15 billion from divestments by 2028.

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Article Details

Category: BusinessFinance

Markets: IndiaCanadaCongoGuineaGuyanaKazakhstanMexicoMozambiquePapua New Guinea

Topics: Chevron Corp Exxon Mobil Corp. Exxon Corporate earnings CHEVRON

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 23:20:57 (5 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 736 words

Reading Time: 5 minutes read

Sentences: 27 lines

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Copyright Owner: © Business Standard

News ID: 23365918

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