Latest News Updates From Kevin Crowley

Exxon Mobil said lower oil prices reduced fourth-quarter results by $800 million to $1.2 billion, one of the first signs that Big Oil is facing a tough earnings season. 

As tensions mount between Venezuela and the U.S., Chevron remains the only global oil company with access to Venezuela’s immense crude reserves — the largest known.

Exxon’s adjusted Q3 profit per share was 7 cents higher than analysts forecast, while Chevron posted an almost 20-cent surprise on Oct. 31. For Exxon, it was the sixth consecutive beat.

Exxon is the first of the oil majors to post quarterly earnings guidance and often sets the trend for the industry.

CEO Darren Woods said the invention is being tested by several EV manufacturers.

The Texas oil giant is making several forays into low-carbon energy even as it expands fossil fuel production faster than its rivals.

The CPChem cuts primarily involve corporate roles including information technology, supply chain management and logistics rather than chemical plants, according to people familiar with the matter.

John Hess plans to buy back his family’s iconic toy truck business next year from Chevron after the oil giant bought his company this month.

Chevron plans to lay off 200 employees in the Permian Basin, less than the 800 previously reported by the Texas Workforce Commission, the company said May 29. 

Hess, the U.S. oil producer widely known for its signature green-and-white toy trucks, said the release of a collection of new miniature vehicles was delayed because of trade tariffs.