Abu Dhabi National Oil Company (ADNOC) has agreed to acquire a 35% equity stake in ExxonMobil’s proposed low-carbon hydrogen and ammonia production facility in Baytown, Texas, US.
CF Industries Holdings recently announced that it is moving forward with a carbon capture and sequestration (CCS) project at its Yazoo City, Mississippi, Complex that is expected to reduce the facility's carbon dioxide (CO2) emissions by up to 500,000 metric tons annually.
Air Products unveiled plans for a carbon capture facility at its Rotterdam plant, intending to generate "blue" hydrogen for ExxonMobil's refinery and other clients. Anticipated to become Europe's largest upon its scheduled completion in 2026, this initiative will play a pivotal role in substantially reducing carbon dioxide emissions in Rotterdam, aligning with the Dutch climate objectives.
LyondellBasell has acquired a 25% stake in Cyclyx International, a joint venture between Agilyx and ExxonMobil formed in December 2020. Cyclyx is working with industry participants to develop innovative recycling solutions for all types of post-use plastics and aims at increasing the recyclability of plastics from 10% to 90%.
The US energy sector is on the verge of a mega merger: energy and petrochemical giant ExxonMobil has announced its intention to take over producer Pioneer Natural Resources. The merger is planned as an all-stock transaction valued at $59.5 billion, or $253 per share, based on ExxonMobil’s closing price on Oct. 5, 2023, according to a company statement. First reports about the ongoing negotiations already circulated last week.
US multinational energy company ExxonMobil has started up two new chemical production units at its Baytown, Texas, manufacturing facility. The $2 billion expansion is part of the company’s long-term growth plans for its US Gulf Coast refining and chemical facilities.
ExxonMobil has acquired Denbury, a carbon capture, utilization, and storage (CCUS) and enhanced oil recovery company. The all-stock transaction is valued at €4.5 billion.
Venture Global, a US-based exporter of LNG, which has just agreed two major supply deals with German customers, says it is on track to solidify its position as the country’s largest supplier of liquefied natural gas.
ExxonMobil has announced plans to invest nearly $110 million to build a lubricants production plant in India. The facility is expected to start operating by the end of 2025.
ExxonMobil has signed a Heads of Agreement with South Korea’s SK Inc. to collaborate on blue ammonia. Under the terms of the deal, SK expects to offtake supplies of blue ammonia from ExxonMobil’s proposed hydrogen and ammonia facility in Baytown, Texas, USA.
ExxonMobil has started up what it says is one of the largest advanced recycling facilities in North America at its integrated manufacturing complex in Baytown, Texas, where the company uses proprietary Exxtend technology to break down hard-to-recycle plastics and process them into chemical feedstock.
ExxonMobil, LyondellBasell and Cyclyx International have agreed to jointly establish a plastic waste sorting and processing facility in Houston, Texas, USA, providing feedstock for both mechanical and advanced recycling technologies.
US ammonia manufacturer CF Industries and energy giant ExxonMobil are collaborating to capture and store up to 2 million t/y of CO2 emissions the CF complex at Donaldsonville, Louisiana. The project is scheduled to start up in early 2025.
The Shell/ExxonMobil petroleum additives joint venture Infineum has agreed to acquire the Pipeline and Industrial Materials (PIM) business of US company Entegris. The transaction is expected to close in the fourth quarter, subject to regulatory clearance and the usual conditions.
Energy and petrochemical giants ExxonMobil and Shell have signed a Memorandum of Understanding with CNOOC and the Guangdong Provincial Development & Reform Commission in China to evaluate the potential for a world-scale carbon capture and storage (CCS) project.
The emirate of Qatar has begun signing agreements with US and European energy majors for the country’s planned $30 billion expansion of its North Field, which is believed to harbor the world’s largest natural gas reserves. TotalEnergies is taking the top slot.
State-backed Italian energy group Eni has reportedly been tapped by the government of Qatar to lead a consortium of five global energy groups to stem the near $30 billion expansion of the North Field, the world’s largest liquefied natural gas (LNG) project.
US engineering group KBR and ExxonMobil Catalysts and Licensing are to work together to enhance technology for propane dehydrogenation (PDH). Under the terms of the collaboration, ExxonMobil’s proprietary catalyst technology will be combined with KBR’s proprietary K-PRO process that produces propylene from propane.
Under pressure from economic sanctions imposed on Russian assets by Europe and the US after Russia’s invasion of Ukraine, Wintershall Dea, the German oil and gas producer owned to 67% by BASF said it will write off its €1.1 billion financing of the Nord Stream 2 natural gas pipeline project and will not pursue any new projects in Russia.
ExxonMobil is expanding its carbon capture and storage (CCS) capabilities at two sites in the US, namely Baytown in Texas, and LaBarge in Wyoming. The projects are part of plans to reduce CO2 emissions and reach a target of net zero across its operations by 2050.
ExxonMobil is restructuring its organization into three business lines and relocating its corporate headquarters from Irving, Texas to Houston by mid-2023 in a move the energy and chemicals giant said would better support customers, enhance performance and grow value.
ExxonMobil and SABIC have brought on stream what they tout as the world’s largest ethane cracker. The facility at Portland, Texas, which is operated by the companies’ Gulf Coast Growth Ventures (GCGV), has capacity to produce 1.8 million t/y of ethylene.
US multinational energy company ExxonMobil has bought a 49.9% stake in Biojet, a Norwegian biofuels company that plans to convert forestry and wood-based construction waste into biofuels and biofuel components. Financial terms were not disclosed.
ExxonMobil Chemical has acquired Materia, a US-based company that has pioneered technology for manufacturing a new class of materials that can be used in various applications, including wind turbine blades, electric vehicle parts, sustainable construction, and anticorrosive coatings. Financial terms of the deal were not disclosed.
Following trials earlier this year of its proprietary technology for advanced recycling – also referred to as chemical recycling – ExxonMobil has now announced its intention to build a large-scale plant in Baytown, Texas, USA.
ExxonMobil has signed an Expression of Interest for the carbon capture and storage (CCS) of CO2 emissions from its Fife ethylene plant in Scotland. The move sees the US energy and petrochemicals giant increase its participation in the proposed Acorn CCS project, which could potentially store more than 20 million t/y of CO2 by the mid-2030s.
Air Liquide, Borealis, TotalEnergies, Esso and Yara International have signed a Memorandum of Understanding (MoU) to explore the development of a carbon capture and storage (CCS) infrastructure project to help decarbonize their facilities in Normandy, France.
Celanese has emerged as the buyer of the TPV elastomers business Exxon Mobil put on the sale block earlier this year. The US chemicals and engineering plastics group said on Jun. 30 it had signed a definitive agreement to acquire the portfolio that includes the iconic Santoprene brand along with intellectual property, production and commercial assets.
Three independent executives nominated by US-based activist investor Engine No 1 have won seats on ExxonMobil’s board.
Exxon Mobil is exploring a sale of its Advanced Elastomer Systems (AES) division, potentially valuing it at around $800 million including debt, Reuters has reported, citing people familiar with the matter.
