Tillerson News

QatarEnergy has named the first LNG carrier to be delivered as part of its new LNG fleet expansion program as Rex Tillerson, in recognition of the former Chairman and CEO of ExxonMobil, who also served as the 69th United States Secretary of State.During his 10-year term as Chairman and CEO of ExxonMobil, Tillerson oversaw the consolidation of relations with the State of Qatar and its energy sector, resulting in strategic partnerships and significant investments in Qatar’s LNG industry.While making his mark on the global energy scene…

Djibouti's container port will remain in state hands as the government seeks investment, a senior official said on Wednesday in comments likely to reassure Washington where lawmakers say they fear it could be ceded to China. The Doraleh Container Terminal is a key asset for Djibouti, a tiny state on the Red Sea whose location is of strategic value to countries such as the United States, China, Japan and former colonial power France, all of whom have military bases there. Djibouti last month terminated the concession of Dubai's state-owned DP World to run the port…

Exxon Mobil Corp will exit some joint ventures with Russia's Rosneft, citing Western sanctions first imposed in 2014, while the Russian company said the pullout will result in serious losses for its U.S. partner. The move is an about-face for Exxon, which had opposed the sanctions over Russia's invasion of Crimea and argued they unfairly penalized U.S. companies while allowing foreign energy rivals to operate in the country, the world's largest oil producer. Yet the sanctions…

The Trump administration and key Asian allies are preparing to expand interceptions of ships suspected of violating sanctions on North Korea, a plan that could include deploying U.S. Coast Guard forces to stop and search vessels in Asia-Pacific waters, senior U.S. officials said. Washington has been talking to regional partners, including Japan, South Korea, Australia and Singapore, about coordinating a stepped-up crackdown that would go further than ever before in an attempt to squeeze Pyongyang’s use of seagoing trade to feed its nuclear missile program, several officials told Reuters.

The United States has proposed that the United Nations Security Council blacklist 10 ships for transporting banned items from North Korea, according to documents seen by Reuters on Tuesday. The vessels are accused of "conducting illegal ship-to-ship transfers of refined petroleum products to North Korean vessels or illegally transporting North Korean coal to other countries for exports," the United States said in its proposal. If none of the 15 members of the Security Council's North Korea sanctions committee object to the ships being designated by Thursday afternoon, the U.S.

As foreign ministers from countries with territory in the far North celebrated an agreement on fighting climate change this week, one topic seethed below the surface: growing competition for Arctic resources and sea lanes as the ice melts. Russia, one of eight members of the Arctic Council which includes the United States, Canada and the Nordic countries, has been pouring money and missiles into the Arctic as well as reopening and building bases there. This is bringing its Arctic military presence to the highest level since the 1991 fall of the Soviet Union.

A fleet of North Korean cargo ships is heading home to the port of Nampo, the majority of it fully laden, after China ordered its trading companies to return coal from the isolated country, shipping data shows. Following repeated missile tests that drew international criticism, China banned all imports of North Korean coal on Feb. 26, cutting off the country's most important export product. To curb coal traffic between the two countries, China's customs department issued an official order on April 7 telling trading companies to return their North Korean coal cargoes, said three trading sources with direct knowledge of the order. U.S. President Donald Trump and Chinese President Xi Jinping were discussing North Korea at Trump's Mar-a-Lago resort on April 7.

China appears to have largely completed major construction of military infrastructure on artificial islands it has built in the South China Sea and can now deploy combat planes and other military hardware there at any time, a U.S. think tank said on Monday. The Asia Maritime Transparency Initiative (AMTI), part of Washington's Center for Strategic and International Studies, said the work on Fiery Cross, Subi and Mischief Reefs in the Spratly Islands included naval, air, radar and defensive facilities. The think tank cited satellite images taken this month, which its director, Greg Poling, said showed new radar antennae on Fiery Cross and Subi. "So look for deployments in the near future," he said. China has denied U.S. China's Defense Ministry did not respond to a request for comment.

For much of the last week, the U.S. aircraft carrier Carl Vinson has been patrolling the South China Sea. It is just the kind of display of Washington’s power and global reach that the U.S. Navy excels at – both to reassure allies and, in this case, send a message to potential foes. How much longer Washington will be able to perform such operations unchallenged, however, is an increasingly open question. Some military experts project that within a little more than a decade, China’s People’s Liberation Army Navy may have more warships than Washington under its command.

China on Monday welcomed U.S. Defense Secretary Jim Mattis' suggestion that diplomacy should be the priority in the South China Sea, and that major U.S. military action was not being considered to contend with China's assertive behaviour there. Mattis, speaking in Tokyo on Saturday, blamed China for "shredding the trust of nations in the region", but also played down any need for U.S. military manoeuvres in the disputed waters of the South China Sea and instead called for open lines of communication. The comments, his most complete on the issue to date, came after analysts had said other remarks made by President Donald Trump's administration had suggested the possibility of U.S. military action, or even a naval blockade.

China said on Tuesday it had "irrefutable" sovereignty over disputed islands in the South China Sea after the White House vowed to defend "international territories" in the strategic waterway. White House spokesman Sean Spicer in his comments on Monday signaled a sharp departure from years of cautious U.S. handling of China's assertive pursuit of territorial claims in Asia. "The U.S. is going to make sure that we protect our interests there," Spicer said when asked if Trump agreed with comments by his secretary of state nominee, Rex Tillerson. On Jan. 11, Tillerson said China should not be allowed access to islands it has built in the contested South China Sea.

The new U.S. "I think the U.S. is going to make sure that we protect our interests there," White House spokesman Sean Spicer told a news briefing. Spicer was responding to a question as to whether Trump agreed with comments by his Secretary of State nominee, Rex Tillerson, on Jan. 11 that China should not be allowed access to islands it has built in the contested South China Sea. Tillerson's remarks at his Senate confirmation hearing prompted Chinese state media to say the United…

Exxon Mobil Corporation (NYSE:XOM) announced today that it will donate $500,000 to the American Red Cross and the Greater Baton Rouge Food Bank to support local flooding disaster relief assistance in Louisiana. “Our thoughts and prayers are with our friends and neighbors in Louisiana who have been impacted by storms and severe flooding in the region," said Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation. ExxonMobil employs more than 5,500 employees and contractors in the Baton Rouge area where it has operated for more than 100 years. Baton Rouge employees spend more than 40,000 hours volunteering in the community each year supporting 168 local organizations. Annually, the company donates about $5 million to agencies and schools in the Baton Rouge area.

* Earnings of $1.8 billion decreased 63 percent from the first quarter of 2015. * Earnings per share were $0.43 assuming dilution. * Cash flow from operations and asset sales was $5 billion, including proceeds associated with asset sales of $177 million. * Capital and exploration expenditures were $5.1 billion, down 33 percent from the first quarter of 2015. * Oil equivalent production increased 1.8 percent from the first quarter of 2015, with liquids up 11.5 percent and gas down 9.3 percent. * The corporation distributed $3.1 billion to shareholders in the first quarter of 2016. * Dividends per share of $0.73 increased 5.8 percent compared with the first quarter of 2015.

30%That’s the minimum level of capital expenditure cuts facing owners and operators of offshore rigs, vessels and various support services, as they scramble to keep equipment working and their heads above water during one of the worst oil downturns in 30 years. From a high of $108 per barrel in June of last year, prices plummeted roughly 60% as supply surpassed weakening demand, crashing in November to around $44 a barrel. The pricing collapse caught all sectors of the industry and financial markets by surprise, pulling down with it market valuations, quarterly earnings and day rates.

Exxon Mobil Corporation today announced estimated full-year 2014 earnings of $32.5 billion compared with $32.6 billion a year earlier, reflecting the strength of its integrated business model in a lower price environment. “ExxonMobil’s results illustrate the value of our proven business model that integrates upstream, downstream, and chemical businesses,” said Rex W. Tillerson, chairman and chief executive officer. ExxonMobil completed a record eight major Upstream projects during the year, including the Papua New Guinea liquefied natural gas project, and achieved its full-year plan to produce 4 million oil-equivalent barrels per day. Fourth quarter earnings were $6.6 billion, or $1.56 per diluted share, down from $8.4 billion in the year-ago quarter.

ExxonMobil today announced $18 million in grants to Houston health care facilities to support cancer prevention and cardiovascular research, expand pediatric care for children with autism and enhance pediatric liver disease research and clinical services. The University of Texas MD Anderson Cancer Center will receive $10 million; $5 million will go to the Texas Heart Institute and $3 million to Texas Children’s Hospital. “ExxonMobil has had a long and deep involvement with Houston and Texas,” said Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation. ExxonMobil’s $10 million grant to MD Anderson will support the Healthy Community Initiative…

Scrapping a decades-old ban on U.S. crude oil exports would spur job creation and boost energy security by encouraging new investment that lifts production, Exxon Mobil Corp's chief executive said on Thursday. Chief Executive Officer Rex Tillerson, speaking to a business group, said trade restrictions should also be lifted for exports of liquefied natural gas, or LNG, which are subject to lengthy regulatory reviews. Dozens of companies are lining up to export LNG and a superlight type of crude oil known as condensate as U.S.

Industry leadership in producing liquefied natural gas (LNG) earned Exxon Mobil Corporation an Excellence Award today at the World Petroleum Congress in Moscow. ExxonMobil received the Excellence Award for Technical Development for its leadership in safety, environment and technology in the development of the global LNG industry through strong partnerships and long-term vision. “ExxonMobil’s history as an LNG producer dates back to 1970 and continues today with key partnerships in a number of projects including those in Qatar and Papua New Guinea,” said Rex W. Tillerson, ExxonMobil chairman and chief executive officer. The Excellence Award is one of the most prestigious recognitions in the oil and gas industry.

Deputy Prime Minister of the Russian Federation, Arkady Dvorkovich, has confirmed that the 21st World Petroleum Congress will be held in Moscow from 15 – 19 June 2014. The congress will be the largest international event in the global oil and gas industries. Dr. Over 500 other industry leaders and decision makers. The recent geopolitical situation in Ukraine, including sanctions and other macroeconomic and political factors, could have a strong impact on the world’s oil and gas markets. Although they do not adversely affect the Congress itself under the current scenarios, important discussions on the development of the entire energy sector and wide-ranging industry announcements are expected to take place at the Congress.

ExxonMobil & Rosneft sign 'Declaration on Protection of the Environment & Biodiversity for Oil and Gas Exploration & Development on Russian Arctic Continental Shelf'. The declaration was signed during a meeting between Igor Sechin, president and chairman of the management board of Rosneft, and Rex W. Tillerson, chairman and chief executive officer of Exxon Mobil Corporation, and senior managers from both organizations. The declaration sets out measures to help protect the Arctic’s ecosystems during oil and gas exploration and development activities to be undertaken by Rosneft and its partners. The parties have agreed to form a joint working group to consider establishing a coordination center that may include representatives of Roskosmos…

Today four oil majors – Chevron, ConocoPhillips, ExxonMobil and Shell – announced a plan to build and deploy a rapid response system that will be available to capture and contain oil in the event of a potential future underwater well blowout in the deepwater Gulf of Mexico. Significantly, the companies have already committed $1 billion to fund the initial costs of the system, and the four will form a non-profit organization, the Marine Well Containment Company, to operate and maintain this system. Other companies will be invited and encouraged to participate in this organization.

Speaking at the 19 World Petroleum Congress in Madrid, Mr. Tillerson outlined the challenge of supplying growing energy needs while minimizing the impact on the environment. “New energy technologies for energy supply, such as those enabling an increase in world LNG supplies, together with technologies to improve energy efficiency, will be critical in meeting the world’s energy challenge,” Mr. Tillerson said. “On the supply side, technological breakthroughs in the production and…