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A small, quiet Arkansas town home to just 11,100 people is set to become the epicenter of the US 'white gold' boom. Magnolia, a blue-collar town in the state's southern region, was once a locus for oil but is on track to become a major producer of lithium, dubbed 'white gold' because of its soft, silvery-white look and the fact it powers most modern tech - from cellphones to laptops and electric cars. Exxon Mobil is planning to build one of the world’s largest lithium processing facilities near the town, with a capacity to produce 75,000 to 100,000 metric tons...

Far-right Rep. Marjorie Taylor Greene plunged a House Homeland Security Committee hearing into chaos Wednesday by accusing Rep. Eric Swalwell of having a “sexual relationship with a Chinese spy” — leading Democrats to unsuccessfully demand that the remark be purged from the record. Greene (R-Ga.) made the comment moments after Swalwell accused her of “anti-police rhetoric” and showed a print-out of a tweet she wrote promoting “Defund the FBI” merchandise in response to purported bureau bias. “That was quite entertaining from someone that had a sexual relationship with a Chinese spy — and everyone knows it,” Greene shot back, referring...

Near the Gulf Coast just east of Texas’ oil-rich Permian Basin, nearly 2,000 ExxonMobil contractors are making sure the company’s latest project – which includes 26 miles of piping, 35 miles of electrical wiring and 875 tons of steel – is pumping oil at full capacity. senior vice president of global operations detailed how the company’s Beaumont complex is not only fueling U.S. energy supply but also the economy. "When you put it all together and you look at this particular location, what I love about it, it allows us to buy what I consider to be very much needed,...

N'DJAMENA, March 23 (Reuters) - Chad has nationalized all the assets and rights including hydrocarbon permits and exploration and production authorisations that belonged to a subsidiary of Exxon Mobil (XOM.N), the Central African nation's energy and hydrocarbons ministry said in a statement on Thursday. Exxon Mobil said in December that it had closed the sale of its operations Chad and Cameroon to London-listed Savannah Energy (SAVES.L) in a $407 million deal, but the Chadian government contested the agreement, saying the final terms were different from what Exxon Mobil had presented. It warned that it may ask courts to block Savannah's...

RUSH: I had this story yesterday and I didn’t get to it. It’s a Bloomberg story based on an op-ed in the Wall Street Journal by James A. Baker and George Shultz. Now, these two guys date back to the Republican Reagan administration. They are considered Republican royalty. They are called even by the Drive-Bys, they have so much respect now, they’re called elder statesmen in the Republican Party. And according to the Drive-Bys, Democrats, the Republicans don’t have any statesmen, period, but these two guys have written an op-ed pushing a carbon tax. And they had a meeting with...

Over the past five years, the United States’ largest independent oil and gas company, Exxon Mobil, has mostly focused its exploratory activities in South America.Last month, the oil major announced that it had made two new discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block offshore Guyana, potentially adding more barrels to one of the most closely watched new oil discoveries. ExxonMobil has now made more than 30 discoveries on the block since 2015, and has ramped up offshore development and production at a pace that far exceeds the industry average.In contrast, Exxon’s exploits in Africa have been...

IRVING, Texas – ExxonMobil today released the following statement in response to a letter from President Biden.We have been in regular contact with the administration to update the President and his staff on how ExxonMobil has been investing more than any other company to develop U.S. oil and gas supplies. This includes investments in the U.S. of more than $50 billion over the past five years, resulting in an almost 50% increase in our U.S. production of oil during this period. Globally, we’ve invested double what we’ve earned over the past five years -- $118 billion on new oil and...

The blast at a Texas oil refinery early Thursday will probably push already high gasoline prices even higher — although not immediately. The blast and resulting fire at the ExxonMobil plant in the Houston-area city of Baytown, Texas, injured at least four workers. The accident could hamper output at one of America’s largest refineries for months, weighing on gasoline supply at at time when US refining capacity has already been reduced, said Tom Kloza, chief oil analyst for the Oil Price Information Service. “They’re not going to have all systems go for a couple of quarters,” he said. The average...

What the local sheriff called a "major industrial accident" led to a huge fire early Thursday at an ExxonMobil refinery in Baytown, Texas, near Houston. Harris County Sheriff Ed Gonzalez tweeted that "initial reports indicated some type of explosion occurred inside the plant." He said there were apparently four people injured. Three were airlifted out and one was removed by ambulance. Gonzalez said there didn't appear to be any need for anyone to evacuate or shelter-in-place. ExxonMobil said in a statement that its "fire teams are working to extinguish the fire" and it was trying to account for everyone who...

Lockheed Martin, the nation's top defense contractor, forced 13 executives including a three-star general to complete a three-day Zoom course so they would 'unlearn their male privilege'. The course was led by Portland-based firm White Men as Full Diversity Partners. It was carried out last June, at the height of the BLM movement, and involved 13 Lockheed employees dialing in for 16 hours. Details of the three-day course last June were obtained by City Journal. The 13 employees were Director of Aeronautics Mark Ward, Air Force lieutenant colonel David Starr, Senior Design Engineer Jeff Schweiss, Risk Management and Sustainability Executive...

Exxon Mobil Corp kicked off construction on Wednesday of its $10 billion petrochemical complex in south Chinese city Huizhou, state news agency Xinhua reported. The complex, which consists of a 1.6 million tonnes per year ethylene facility, is one of the few mega petrochemical projects in China wholly owned by a foreign investor.

SINGAPORE (Reuters) - Exxon Mobil Corp (XOM.N) kicked off construction on Wednesday of its $10 billion petrochemical complex in south Chinese city Huizhou, state news agency Xinhua reported. The complex, which consists of a 1.6 million tonnes per year ethylene facility, is one of the few mega petrochemical projects in China wholly owned by a foreign investor.

Exxon Mobil plans to reduce the number of oil rigs operating in an oil-rich region in the Southwest and may cut planned capital expenditures as the spreading coronavirus saps energy demand. The price of a barrel of oil has fallen more than 20% since the start of the year, and 8% in the last month, with energy demand expected to shrink as the outbreak drags on the global economy. Exxon will reduce the number of rigs in the Permian basin, a region that stretches across the border of New Mexico and Texas. Capital expenditures include expenses such as drilling and...

Last Thursday, in a move that surprised everyone but perhaps shouldn’t have come as a surprise at all, New York State Attorney General Tish James withdrew two counts of fraud against ExxonMobil during her closing arguments in the flimsy case she and her predecessor, Eric Schneiderman, spent the last half-decade pursuing against the energy giant. Tellingly, AG James dismissed the two of her original fraud counts that were based on laws requiring demonstration of actual harm in order to obtain a positive judgment. Her suit claimed that ExxonMobil’s alleged “fraud” of keeping two separate estimates of the future costs of...

PITTSBURGH - A fight at a gas station on Pittsburgh's North Side was recorded on video and went viral on social media. Police said multiple people are now facing criminal charges, and the videos led to a protest Saturday and Sunday. For the second straight day, dozens of people gathered outside two Pittsburgh gas stations to protest the owners. Police also were back at the Exxon gas station after they said two customers were violently attacked by an owner and employee. Officers went into the gas station as they continue their investigation, collecting evidence throughout the day. On Sunday, protesters...

Iraq is planning a $53 billion megaproject with global energy giants ExxonMobil and PetroChina to use seawater from the Persian Gulf to boost oil production, Prime Minister Adel Abdul-Mahdi announced Tuesday. The 30-year project would boost output from Iraq’s southern oil fields, and includes designs to capture natural gas, which is currently lost to flaring, for production, Abdel-Mahdi said at a press conference. Iraq is producing oil at record levels, but officials are targeting even higher output to meet budget projections and finance reconstruction projects following 16 years of war. Output averaged 4.5 million barrels per day in March, second...

Fire burns at ExxonMobil refinery in Baytown Ad Duration00:15 - visit sponsor's site PlayPlay Current time00:00 Seek 00:00 Duration01:06 Toggle Mute Volume SettingsToggle Fullscreen EMBED <>MORE VIDEOS Fire at Exxon refinery Thursday, April 7th, 2016 BAYTOWN, TX -- Fire at a Baytown ExxonMobil facility Thursday sent a massive plume of smoke into the air. At this point, it's not clear what started the fire. The good news is all employees have been accounted for

The perception that only elite schools produce elite leaders needs to die. The No. 1 company in last year’s Fortune 500 was Walmart Inc., with $500 billion in revenue. That would make its chief executive, Douglas McMillon, a pretty important and powerful executive, don’t you think? Can you guess where he went to college? The University of Arkansas. He has an MBA, too. From the University of Tulsa. Second on the list was Exxon Mobil Corp. Its CEO, Darren Woods, went to Texas A&M. Third was Berkshire Hathaway Inc., run by the man many consider the greatest investor who ever...

The Venezuelan Navy illegally entered the waters of Guyana this weekend and forced a ship contracted by Exxon Mobil to conduct oil research in the area to vacate, The incident, which Guyanese authorities angrily denounced and vowed to bring to the attention of the United Nations, reignites a feud Venezuelan socialist dictator Nicolás Maduro began with the neighboring country in 2015, claiming as much as two-thirds of Guyana itself belonged to Venezuela. Guyana has repeatedly noted that Venezuela signed an agreement in 1899 on the territory in question and no disputes remain as to who owns that land. Exxon Mobil...

Sanity: Without question, President Obama and his administration were the biggest enemies of the fossil fuel industry in the history of our country. Never mind that fossil fuels (along with innovation) were responsible for transforming the United States into the world’s leading economic power. Obama was dead-set on destroying the industry in lieu of some ‘clean energy’ nirvana that is decades away from reality, given the pace of technological development in that industry.