Latest news with #Exxon Mobil
Reuters
6 days ago
- Business
- Reuters
Petrobras simulation for Foz do Amazonas drilling license scheduled for late August
RIO DE JANEIRO, Aug 13 (Reuters) - Brazilian environmental agency Ibama and state-run oil company Petrobras have scheduled a disaster simulation in the country's Foz do Amazonas region for the week of August 24, Ibama said on Wednesday. The so-called pre-operation assessment is seen as the last step before Ibama rules on whether to grant Petrobras a long-sought drilling license in the region. The Foz do Amazonas basin is part of the Equatorial Margin, Brazil's most promising frontier for oil exploration due to shared geology with nearby Guyana, where Exxon Mobil (XOM.N), opens new tab is developing huge fields. Petrobras has spent years seeking permits to drill in the environmentally sensitive region that is home to vast coral reefs, opens new tab and coastal Indigenous communities. In June, oil majors acquired 19 blocks in Foz do Amazonas during an auction, with Petrobras partnering with Exxon in 10, and a Chevron-led consortium with China's state-owned CNPC acquiring nine blocks. The acquisitions happened even though Ibama's President Rodrigo Agostinho has said it would be hard to issue new licenses without a complex environmental study known as an AAAS, which could take years to complete.
Bloomberg
12-08-2025
- Business
- Bloomberg
Norway's $1.9 Trillion Wealth Fund Trims Big Oil Stocks
Norway's $1.9 trillion sovereign wealth fund pared back its holdings in oil and gas majors including Exxon Mobil Corp and Chevron Corp in the first half of the year. The fund trimmed its position in Exxon to 1.32% from 1.46% at the end of 2024. Its second-biggest energy holding, Shell Plc, was reduced to 2.55% from 2.78% during the same period. Positions in Chevron, BP Plc and TotalEnergies SE were all cut, according to holdings posted on its website on Tuesday.
