#energy

First Marcellus, now, EF and Powder. That’s 12 billion in divestitures. Take that to the bank.

Still won’t help the share price.

Chinese doing it

https://africa.businessinsider.com/local/markets/ghana-bets-on-its-first-privately-owned-dollar198-billion-refinery-in-push-to-produce/q20pcky

ExxonMobil has publicly stated that domestic manufacturing is a central pillar of India’s Viksit Bharat 2047 vision, and the company has launched its own “Make in India” initiative to help realize that goal ExxonMobil+1.

Strategic Alignment with India’s Goals
India’s Viksit Bharat 2047 aims to transform the country into a self-reliant, globally competitive manufacturing hub. ExxonMobil sees strong synergies between its global energy infrastructure operations and India’s industrial ambitions, particularly in heavy engineering, shipbuilding, and specialized manufacturing ExxonMobil.

Current and Future Sourcing
Current scale: In the last two years, ExxonMobil affiliates have sourced USD 100 million worth of equipment from India ExxonMobil+1.

Future target: The company plans to scale sourcing to billions of dollars by the end of the decade ExxonMobil+1.

Focus areas:

Mega modules — large, pre-assembled units used in petrochemical plants and refineries.

Energy infrastructure equipment for LNG, refining, and chemical projects.

Shipbuilding synergies — both industries require heavy engineering, specialized suppliers, and complex logistics networks ExxonMobil+1.

Why India?
India offers:

A skilled workforce in engineering and fabrication.

Expanding connectivity (roads, ports, railways) to support large-scale manufacturing.

Resilient supply chains that can support complex, high-value projects ExxonMobil.

Impact
By leveraging India’s growing engineering and fabrication capabilities, ExxonMobil aims to:

Reduce reliance on foreign manufacturing for its global projects.

Support India’s industrial growth and energy security.

Create high-value jobs and technology transfer opportunities in the country ExxonMobil+1.

In short, ExxonMobil’s “Make in India” initiative is not just a corporate sourcing strategy — it’s a strategic investment in India’s manufacturing future, aligned with its national vision for 2047.

This new energy tailgate podcast has to be the most comical thing I have seen come out of this leadership team. It’s so bad and embarrassing as an employee.

Do we still need Exploration? Is EM still winning post Guyana?

Lessons learned from Hormuz conflict is that XOM needs secure LNG and Venture Global is the perfect fit. XOM was slow in January of 2026 where it could have bought it cheap…and most likely paid it off in short term

Lessons learned from Hormuz conflict is that XOM needs secure LNG and Venture Global is the perfect fit. XOM was slow in January of 2026 where it could have bought it cheap…and most likely paid it off in short term

Lessons learned from Hormuz conflict is that XOM needs secure LNG and Venture Global is the perfect fit. XOM was slow in January of 2026 where it could have bought it cheap…and most likely paid it off in short term

Who is on to explain the North Sea SALE includes 30% India resources?

On February 15, ExxonMobil announced that the company's Huizhou Daya Bay R&D Center officially started construction in the Huizhou Daya Bay Petrochemical Park.

The Daya Bay R&D Center is ExxonMobil's second R&D center in China after the Shanghai R&D Center. The new Daya Bay R&D Center will focus on R&D activities in the fields of novel chemistry, process development and process scale-up. The center is ExxonMobil's first comprehensive R&D center equipped with pilot equipment outside the North American headquarters. It integrates product R&D and process development. It is planned to be constructed in two phases, and the first phase is scheduled to be opened in 2025.

"The construction of the Daya Bay R&D Center will further meet the growing market and technology needs in the Asia-Pacific region," said Wan Lifan, chairman of ExxonMobil (China) Investment Co., Ltd., and the R&D center will bring dozens of high-level R&D jobs , to introduce high-level chemical talents for the local area, and further strengthen international technical exchanges and cooperation. ExxonMobil has established a good strategic partnership with Guangdong Province, which will provide strong support for Guangdong to build a world-class green petrochemical industrial cluster.

ExxonMobil stated that the company has safely completed the hoisting of large heavy equipment for the Huizhou ethylene project. At present, the construction of the main factory area of the first phase project is progressing smoothly, and the supporting projects and the main factory area are advancing as planned. The start of the Daya Bay R&D Center is another important milestone since the start of construction in 2020.

The ExxonMobil Huizhou Ethylene Project is the first major petrochemical project wholly-owned by an American company in China, with a total investment of over US$10 billion, and will be constructed in two phases. The first phase of the project will build a 1.6 million tons/year ethylene cracking unit, as well as mid-downstream high-end polyethylene, polypropylene and other production equipment and supporting facilities. The production of various high-end chemical products will help reduce the import of high-performance polymers in the Chinese market rely.

ExxonMobil said the Huizhou project will produce chemicals used in packaging, automotive, industrial and consumer goods, and hygiene and personal care products. The project adopts industry-leading technology to improve energy efficiency, which is in line with the development direction of China's national petrochemical industry and will help reduce the Chinese market's dependence on imports of high-performance polymers.

https://www.echemi.com/cms/1231239.html

Shell can’t drill it’s self to prosperity so it’s levers are buy Shell stock, offload marginal production, and try to buy a company with existing production. Shell needs a big move within the next 6 months.

How’s a Woodside and Shell marriage? Certainly satisfy the Asia market while reduced investment in the ME.

How’s Kosmos? Cheap and get instant gas to Europe

Any old timers know why EM is so reluctant to be a player in deepwater GOM?

Studies indicate that workers utilizing artificial intelligence are less likely to face layoffs. This trend contradicts widespread fears about AI displacing jobs. Only a small percentage of laid-off workers attribute their job loss directly to AI. West Virginia's workforce is considered less exposed to generative AI applications than the national average. The increased demand for energy from AI data centers presents economic opportunities for energy-producing states like West Virginia.

Clarksburg, West Virginia

https://www.wvnews.com/news/wvnews/studies-ai-skills-shield-workers-from-layoffs-west-virginia-itself-less-susceptible/article_0144aff5-075b-4955-b7ec-7d79fbd5ff30.html

The global economy now uses roughly half as much energy per dollar of output as it did in 1980, helping cushion oil shocks.

Read more in F&D magazine.

https://www.imf.org/.../2026/06/picture-this-shock-absorbers

Oil prices have risen sharply with the latest war in the Middle East, reviving memories of the 1970s. The effective closure of the Strait of Hormuz, a route for about a quarter of seaborne oil trade, represents a major global supply shock. The damage will depend largely on how long the disruption lasts. Oil markets were well supplied heading into the disruption, strategic stock releases added barrels, and buoyant financial markets helped limit broader tightening in financial conditions.

Beyond these immediate buffers, two structural factors have also cushioned the blow. First, the world economy is far more energy efficient than it was 50 years ago. Each dollar of output now requires roughly half as much energy as it did in 1980.

Second, the energy system is more diversified. Oil’s share of the mix has fallen from about half in 1973 to less than a third today. Oil remains the world’s leading fuel, but it no longer dominates.

Even so, these cushions do not protect countries from pain evenly. Ultimately, the severity of the shock at the country level depends on two things: how much oil an economy imports and how much policy space its government has to respond. More than 80 percent of countries are net oil importers, and the most vulnerable entered this episode with limited room in public budgets to shield households and businesses. That is why the same global shock can become a much harsher national one where import dependence is high and policy space is thin.

How will MW react to industry pivot toward LNG and natural gas domestically and Asia market specifically?

Does CVX buy another company and artificially boost the companies staff as genius like they did with Hess exploration team.

It’s looking competitive for Woodside as its assets are perfectly aligned with Shell

How COVID-19 Impacted Energy Companies

Source: Microsoft CoPilot Search

The COVID-19 pandemic had a profound and multifaceted impact on the global energy sector, affecting demand, supply chains, financial stability, and long-term energy transitions.

1. Sharp Drop in Energy Demand
   Lockdowns and reduced economic activity caused global primary energy demand to fall by about 4% in 2020 compared to 2019 Statista. Transport fuel demand, especially in China, contracted sharply, with gasoline, diesel, jet fuel, and bunkers all declining CSIS. Even moderate growth in ethane and liquefied petroleum gas (LPG) was not enough to prevent overall oil demand from flattening or contracting CSIS.

2. Volatility and Price Crashes
   Oil prices plunged 50–80% in the first quarter of 2020, with WTI and Brent crude futures falling over 20% on average pmc.ncbi.nlm.nih.gov. This volatility exposed companies to extreme financial risk, increasing insolvency threats pmc.ncbi.nlm.nih.gov.

3. Supply Chain Disruptions
   The pandemic disrupted global manufacturing and logistics, hitting renewable energy supply chains hard. China, a major producer of solar panels, wind turbine components, and lithium-ion batteries, faced lockdowns that halted production and shipping Johns Hopkins University. This caused delays or cancellations of clean energy projects for months or years Johns Hopkins University.

4. Financial and Workforce Impacts
   Thousands of jobs were lost across the sector, and bankruptcy filings rose Statista. Workforce availability was reduced due to illness, quarantine, and remote work limitations, further slowing operations Johns Hopkins University.

5. Energy Transition Setbacks
   The slowdown in renewables and infrastructure projects delayed climate goals. However, the crisis also highlighted the need for resilience, and some recovery efforts—like Europe’s €225 billion energy transition fund—aimed to accelerate decarbonization www.spglobal.com.

6. Long-Term Structural Shifts
   COVID-19 reduced long-term global oil demand by 2.5 million barrels per day, but not enough to shift the projected peak oil demand date www.spglobal.com. Gas demand was hit harder than other fuels due to declining primary energy use, rising renewables, and coal stickiness www.spglobal.com.

7. Recovery and Rebound
   By 2021, as restrictions eased and vaccination rates rose, energy demand began to recover and surpass pre-pandemic levels Statista. Some companies adapted by diversifying supply chains, investing in digitalization, and focusing on resilience.

In summary: COVID-19 caused a demand shock, severe price volatility, supply chain paralysis, and financial strain for energy companies. While the sector rebounded in 2021–2022, the pandemic accelerated supply chain awareness, reshaped energy demand patterns, and underscored the importance of resilience in the energy transition.

Here's the link to a very detailed article from the UK Daily Mail regarding the current state of affairs:-

www.dailymail.com/news/article-15878351/amp/GUY-ADAMS-BP-death-British-oil-giant-war-fossil-fuels.html

ByJudith Magyar,Brand Contributor.

“Digital transformation often gets mistaken for an IT upgrade,” said Kurt Aerts, business venture executive at ExxonMobil. He was speaking at the ASUG Best Practices event for Oil, Gas and Energy in Houston, Texas. “Our ongoing transformation is a powerful reminder that true change means transforming the business at scale. It’s not about implementing new systems — it’s about fundamentally changing how an enterprise operates and creates value.”

Not just another systems project
This philosophy underpins the company’s multi-year transformation that integrates people, processes, systems, and data across an organization with $350 billion in annual revenue, about 60,000 employees, and operations spanning upstream, chemicals, fuels, lubricants, and low-carbon solutions.

One of the key steps in ExxonMobil’s journey, which began in 2017, was to reframe the mindset. “We don’t want to optimize, we want to transform,” said Aerts.

Process transformation requires challenging deeply ingrained ways of working and prioritizing adoption of industry standards for each process area and service offering such as Record-to-Report, Source-to-Pay or Order-to-Cash, to drive globally consistent execution. This takes a governance model designed for clarity and speed of decision making — two prerequisites for meaningful transformation and to prevent the common trap of consensus-driven optimization.

Transforming the core
Aerts went on to describe ExxonMobil’s three core pillars of transformation:

Processes are now harmonized to industry standards enterprise-wide versus being executed differently by business or geography.

Systems are modernized from 12 heavily customized ERPs to a unified, cloud-based platform on SAP S/4HANA.

Data is being turned from fragmented, trapped information into harmonized consistently defined enterprise assets.

In the past, answering a simple question such as ‘how much do we sell to Walmart’ required hours of aggregating and reconciling across 12 ERPs. Real-time, enterprise-wide visibility will speed up the process considerably. “Harmonized data is becoming ExxonMobil’s new gold standard — the foundation for predictive analytics, AI, and faster decision-making,” Aerts explained.

Managing scale and risk
Large-scale transformation requires effective risk management. ExxonMobil’s approach balances value capture and risk mitigation.

Deployments are phased by the existing ERP ecosystem, not geography or function, to manage complexity and provide business continuity. A layered governance structure — from a sponsor committee of senior executives to operational design boards — supports accountability, transparency, and alignment at every level.

Aerts shared some lessons from the frontline, stressing the importance of foundational principles. When challenges arise, these principles help keep decisions aligned with strategic intent. Next, he reiterated that data matters most, because clean, consistent data is the real enabler of transformation. And finally, the team learned early on that an out-of-the-box approach really works. Industry-standard configurations deliver agility and prevent the drift toward customization that burdens future upgrades.

“We were able to achieve significant simplification,” he said. “For instance, we reduced about 1,400 company codes to under 1,000, and profit centers from more than 15,000 to fewer than 500. This has eliminated significant complexity while increasing transparency across financial reporting.”

ExxonMobil’s key metrics reflect the disciplined execution of the transformation, and is exceeding its targets on its two principal objectives:

80% target on Fit to Standard: a testament to the commitment to adopt industry standard processes.

90% target on Clean Core: enabling instant upgradeability and system resilience.

Ultimately, ExxonMobil’s enterprise transformation is about creating competitive advantage. By harmonizing data, simplifying systems, and standardizing processes across business lines and geographies, the company is positioning itself for faster innovation and improved experiences for employees, suppliers and customers.

Shaping the future
Transformation is also about visionary leadership in an industry that is adapting to societal needs on how energy is produced, distributed, and consumed. ExxonMobil has a long history of collaboration with SAP to address functionality gaps and ensure the solution is optimized for the oil and gas industry. In essence, ExxonMobil’s journey offers a blueprint for global organizations facing the same challenges, especially lack of agility caused by legacy systems, fragmented data, and decentralized processes.

Aerts concluded: “A successful transformation isn’t about replacing tools; it’s about redesigning processes, data and systems to deliver industry leading performance in efficiency, effectiveness and the experience of our employees and customers, while ensuring agility for adjustments required due to changes in the market.”

https://www.forbes.com/sites/sap/2025/11/04/exxonmobil-is-rewiring-its-enterprise-for-the-energy-future/

If you think Shell is messed up…it’s actually a fine running Swiss watch. Enjoy what a near peer is going through…Any time you hear energy transition and BP beyond petroleum…

First Marcellus, then what?

I keep waiting for the other economic shoe to drop...

Important points in summary. Link to full article at end.
"Strategic petroleum reserves have been released, commercial inventories have been drawn down."
In plain terms, the world has been living off its emergency stockpiles." "And even after the Strait reopens, he cautioned against expecting an immediate return to normal.
Ships need to be repositioned, and a backlog of cargoes needs to be worked through the system.
Transit times add days or weeks to the time before the product actually reaches consumers.
'We're thinking there's going to be a 1- to 2-month time lag between the Strait opening up and the market seeing normal flow,' Woods said."
** "Beyond that, governments and buyers that have drawn down reserves will need to restock."

https://sg.finance.yahoo.com/news/exxon-ceo-delivers-blunt-message-171700095.html?guccounter=1&guce_referrer=YW5kcm9pZC1hcHA6Ly9jb20uZ29vZ2xlLmFuZHJvaWQuZ29vZ2xlcXVpY2tzZWFyY2hib3gv&guce_referrer_sig=AQAAAJW9Mbl8zOro2hAcbaqvhG_qkfO-dIcOcukIRrgwuT2n_RZNCb9aoEzLm0WATYTmh9YdbRFySH7bCriqyBkUdXU02e6M73w0FZNocWTtupHG6wP_AMzfOuROG7LYRnloKBGsMNhzXepJg2mJWNdcAR0yr21csNMyv6k_yeiB6hq_

Market Shift: From Crude to Lithium

ExxonMobil is officially turning the legendary Smackover Formation into a lithium engine. With a 2027 start date, the project is expected to generate $27M in annual profit by processing 165,000 barrels of brine daily.

Source: https://lnkd.in/gitnnp6k

Why is there rumors of SM energy buying chevron assets in Colorado lol, SM energy is in debt acquiring Civitas I don’t think they will be buying anything for a good while. Besides chevron I feel like has invested way too much in this area that SM energy won’t be able to afford what they ask.

5/14/2026 12:00:00 PM

Deal includes Chevron assets in Vietnam, Australia, Philippines, Malaysia
Deal expected to close in 2027

Chevron divests Asian refining assets to streamline operations

Eneos aims to boost overseas sales share to over 50% by 2030, CEO says
Eneos Holdings said it will buy U.S. major Chevron's 50% stake in Singapore Refining Company and other assets in Southeast Asia and Australia for nearly $2.2 billion, in its first refining foray outside of Japan.

The deal, which includes Chevron's assets in Vietnam, Australia, Philippines and Malaysia, is expected to close in 2027, Eneos said. Chevron has been looking to divest refining and storage assets in Asia to streamline operations and reduce costs.

"This investment represents a significant step in strengthening the business platform that connects Japan with Southeast Asia and Oceania," said Eneos Holdings CEO Tomohide Miyata.

Eneos operates nine refining complexes in Japan including a joint venture with PetroChina.

Chevron divestment. SRC operates a 290,000 barrels-per-day refinery in Singapore and the other half of the company is held by PetroChina 0857.HK through its subsidiary Singapore Petroleum Co.

"The agreement reflects Chevron's disciplined approach to managing its international portfolio," said Andy Walz, president of Chevron's downstream, midstream and chemicals.

The SRC stake sale is the second major refinery deal in the Asian oil hub after Shell sold its Bukom refining and petrochemical complex in 2024. Chevron previously sold its Hong Kong retail stations to Thai refiner Bangchak Corp. Corp for $270 million.

The latest sale includes Chevron's Penjuru terminal and lubricants facility in Singapore, which has a storage capacity of around 400,000 cubic meters, roughly equivalent to 2.5 million barrels of oil.

Taking over a fuel terminal in one of the world's largest oil storage and blending hubs will expand Eneos' trading capabilities, especially in refined fuel, analysts said.

"It will be an important strategic move for Eneos to grow downstream given its domestic market in Japan is saturated and expected to decline," said Sushant Gupta, Wood Mackenzie's Asia Pacific refining and oils research director, a reference to Japan's long-term decline in demand owing to a shrinking population.

"It is not just the refinery but things that come along will be the deal sweetener."

Morgan Stanley was appointed by Chevron to handle the sale of the refinery stake and other assets in Asia.

Eneos eyes more overseas M&A deals. Eneos is looking to widen its overseas operations via the purchases from Chevron, while looking at other buys.

"With regard to our overseas operations, which currently account for just under 20% of sales, we intend to use this M&A as a catalyst to significantly expand this share - including through future growth in our trading business - with the aim of raising it to more than 50% by fiscal 2030," said Eneos' Miyata.

He said he did not believe the latest acquisition of assets from Chevron alone would be sufficient to achieve that goal.

"We aim to reach the target through future overseas M&As, and we are already taking steps in that direction," he added.

https://www.hydrocarbonprocessing.com/news/2026/05/eneos-to-buy-chevrons-singapore-refinery-stake-asian-assets-for-22-billion/

A trade secret is legally defined as confidential business information that gains economic value from not being generally known and is protected through reasonable efforts to keep it secret. In U.S. law, this definition is most clearly articulated in 18 U.S.C. § 1839, part of the Defend Trade Secrets Act (DTSA).

📘 Core Legal Elements of a Trade Secret
Under federal law, information qualifies as a trade secret if it meets all three of these requirements:

Secrecy — The information is not generally known or readily ascertainable through proper means by others who could benefit from it.

Economic value — The information has actual or potential economic value because it is secret. Competitors would gain an advantage if they obtained it.

Reasonable measures — The owner takes reasonable steps to maintain its secrecy (e.g., NDAs, access controls, secure storage).

If any one of these elements' stops being true, the information loses trade secret protection.

🧩 What Counts as a Trade Secret?
Trade secrets can include virtually any type of business, technical, or scientific information, such as:

Formulas (e.g., beverage recipes)

Processes or manufacturing methods

Algorithms

Customer lists

Designs or prototypes

Negative know‑how (failed experiments that reveal what doesn’t work)

The law covers both tangible and intangible information, regardless of how it is stored.

🏛️ Authoritative Legal Definition (DTSA)
Under 18 U.S.C. § 1839(3), a trade secret includes “all forms and types of financial, business, scientific, technical, economic, or engineering information… if (A) the owner has taken reasonable measures to keep such information secret; and (B) the information derives independent economic value… from not being generally known.”

AI usage imposes significant environmental costs, primarily through massive electricity consumption, high water usage for cooling data centers, and electronic waste from hardware manufacturing.

While AI can help optimize energy efficiency, its rapid growth contributes to rising greenhouse gas emissions. By 2027, AI demand could use 4.2–6.6 billion cubic meters of water.

Key Environmental Impacts of AI

• Energy Consumption & Emissions: Training and running complex AI models require immense power, with data centers currently accounting for about 1% of global electricity demand. A single generative AI query uses 4-5 times more energy than a standard search engine request.

• Water Usage: Data centers consume vast amounts of water for cooling to prevent servers from overheating.

• Hardware and E-Waste: Producing GPUs and servers requires mining for rare earth minerals, leading to soil erosion and pollution. Rapid hardware turnover increases electronic waste.

• Infrastructure Impact: The expansion of AI infrastructure can contribute to local environmental degradation, including air quality issues in surrounding communities.

Experts emphasize that the environmental sustainability of AI is often overlooked, with urgent need for more transparent, efficient models

The company is attempting to be hush-hush about this, but my (soon to be ex) co-workers are announcing on LinkedIn. Last day in the office is today for some.

This entire industry (ev charging) is cooked. All players are trying to get acquired by either an (ev) auto manufacturer or an energy company (like a Shell) increasing footprint in the ev charging space.

Terrific event. The client and partner excitement has been very high particularly around AI

Shell bought an actual company instead of shares for cancellation. It looks like they're supporting LNG export... Does that mean that the Montney assets are not as good as we were led to believe?

Even if it isn't the best deal I applaud the effort

Oil major will cut investment over next five years from $30bn to $20bn

Maxine Kelly and Martha Muir in London

PublishedDec 9 2025

UpdatedDec 9 2025, 13:21

Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at https://help.ft.com/faq/gifting-and-sharing-an-article/what-is-a-gift-article/.
https://www.ft.com/content/dc0f4207-7eb3-482d-8f28-e2b15ed07e9f?syn-25a6b1a6=1

ExxonMobil said it would slash planned spending on low-carbon projects by a third, as oil majors pare back clean energy initiatives and pivot back to fossil fuels.

The Texas-based company, the largest US oil producer, also said in a strategic update on Tuesday that it planned to lift earnings and cash flow by $5bn by 2030, with no increases in capital spending.

Exxon said spending on low-carbon initiatives would be cut to $20bn over the next five years, down from about $30bn previously. The company also recently paused plans for a $7bn hydrogen plant in Baytown, Texas, citing low customer demand.

Some of the world’s biggest oil and gas companies are pulling back from low-carbon projects and returning their focus to fossil fuels, amid expectations that oil demand will remain more resilient and that the green transition will take longer than anticipated.

President Donald Trump has made the promise of abundant, cheap oil and gas a key pillar of his second term and pledged to “export American energy all over the world”.

UK oil major BP in February reversed its push into clean energy to refocus on fossil fuels, with chief executive Murray Auchincloss saying the company went “too far, too fast”. It also shelved plans for its hydrogen and carbon capture scheme in north-east England.

Shell also scrapped a 2021 commitment to let oil output fall by 1 per cent to 2 per cent a year until 2030 and wrote down the value of its $1bn wind business. However, other companies such as TotalEnergies have continued to invest in their renewables arms.

The interior department will on Wednesday hold a lease sale for 80mn acres in the US Gulf, as mandated by Trump’s signature tax and spending bill, which analysts at TD Cowen expect to attract interest from Shell, BP and Chevron.

Exxon has four upcoming sites in Guyana due to start production by 2030, as well as final investment decisions on natural gas projects in Papua New Guinea and Mozambique.

Exxon’s chief executive Darren Woods told the Financial Times last month that assumptions the company made when setting its previous goals for spending on low-carbon projects had not been met, blaming disappointing customer demand and government policies.

Exxon on Tuesday said it expected $25bn in earnings growth and $35bn in cash flow growth by 2030 compared with 2024 on the same constant-price and margin basis, a $5bn improvement on its previous plan.

This reflected the company’s “stronger contributions from advantaged assets, a more profitable business mix and lower operating costs”, Exxon said.

The company also announced its chief financial officer, Kathy Mikells, will retire from February 2026 and be replaced by Neil Hansen, Exxon’s president of global business solutions.

https://www.ft.com/content/dc0f4207-7eb3-482d-8f28-e2b15ed07e9f?syn-25a6b1a6=1

When does the Kearl sale occur? Or at least the sale of some of the interest

Exxon pulls offer to sell two initial Golden Pass LNG cargoes - Reuters

Exxon Mobil (XOM) has withdrawn an offer to sell two initial cargoes of liquefied natural gas from its Golden Pass export plant in Texas that has been in the process of starting up operations, Reuters reported Thursday.

ExxonMobil Is Rewiring Its SAP Enterprise For The Energy Future

By Judith Magyar,Brand Contributor.
Nov 04, 2025, 07:59am EST

Harmonized data is becoming ExxonMobil’s new gold standard — the foundation for predictive analytics, AI, and faster decision-making.

“Digital transformation often gets mistaken for an IT upgrade,” said Kurt Aerts, business venture executive at ExxonMobil. He was speaking at the ASUG Best Practices event for Oil, Gas and Energy in Houston, Texas. “Our ongoing transformation is a powerful reminder that true change means transforming the business at scale. It’s not about implementing new systems — it’s about fundamentally changing how an enterprise operates and creates value.”

Not just another systems project
This philosophy underpins the company’s multi-year transformation that integrates people, processes, systems, and data across an organization with $350 billion in annual revenue, about 60,000 employees, and operations spanning upstream, chemicals, fuels, lubricants, and low-carbon solutions.

One of the key steps in ExxonMobil’s journey, which began in 2017, was to reframe the mindset. “We don’t want to optimize, we want to transform,” said Aerts.

Process transformation requires challenging deeply ingrained ways of working and prioritizing adoption of industry standards for each process area and service offering such as Record-to-Report, Source-to-Pay or Order-to-Cash, to drive globally consistent execution. This takes a governance model designed for clarity and speed of decision making — two prerequisites for meaningful transformation and to prevent the common trap of consensus-driven optimization.

Transforming the core
Aerts went on to describe ExxonMobil’s three core pillars of transformation:

Processes are now harmonized to industry standards enterprise-wide versus being executed differently by business or geography.

Systems are modernized from 12 heavily customized ERPs to a unified, cloud-based platform on SAP S/4HANA.

Data is being turned from fragmented, trapped information into harmonized consistently defined enterprise assets.

In the past, answering a simple question such as ‘how much do we sell to Walmart’ required hours of aggregating and reconciling across 12 ERPs. Real-time, enterprise-wide visibility will speed up the process considerably. “Harmonized data is becoming ExxonMobil’s new gold standard — the foundation for predictive analytics, AI, and faster decision-making,” Aerts explained.

Managing scale and risk
Large-scale transformation requires effective risk management. ExxonMobil’s approach balances value capture and risk mitigation.

Deployments are phased by the existing ERP ecosystem, not geography or function, to manage complexity and provide business continuity. A layered governance structure — from a sponsor committee of senior executives to operational design boards — supports accountability, transparency, and alignment at every level.

Aerts shared some lessons from the frontline, stressing the importance of foundational principles. When challenges arise, these principles help keep decisions aligned with strategic intent. Next, he reiterated that data matters most, because clean, consistent data is the real enabler of transformation. And finally, the team learned early on that an out-of-the-box approach really works. Industry-standard configurations deliver agility and prevent the drift toward customization that burdens future upgrades.

“We were able to achieve significant simplification,” he said. “For instance, we reduced about 1,400 company codes to under 1,000, and profit centers from more than 15,000 to fewer than 500. This has eliminated significant complexity while increasing transparency across financial reporting.”

ExxonMobil’s key metrics reflect the disciplined execution of the transformation, and is exceeding its targets on its two principal objectives:

80% target on Fit to Standard: a testament to the commitment to adopt industry standard processes.

90% target on Clean Core: enabling instant upgradeability and system resilience.

Ultimately, ExxonMobil’s enterprise transformation is about creating competitive advantage. By harmonizing data, simplifying systems, and standardizing processes across business lines and geographies, the company is positioning itself for faster innovation and improved experiences for employees, suppliers and customers.

Shaping the future
Transformation is also about visionary leadership in an industry that is adapting to societal needs on how energy is produced, distributed, and consumed. ExxonMobil has a long history of collaboration with SAP to address functionality gaps and ensure the solution is optimized for the oil and gas industry. In essence, ExxonMobil’s journey offers a blueprint for global organizations facing the same challenges, especially lack of agility caused by legacy systems, fragmented data, and decentralized processes.

Aerts concluded: “A successful transformation isn’t about replacing tools; it’s about redesigning processes, data and systems to deliver industry leading performance in efficiency, effectiveness and the experience of our employees and customers, while ensuring agility for adjustments required due to changes in the market.”

https://www.forbes.com/sites/sap/2025/11/04/exxonmobil-is-rewiring-its-enterprise-for-the-energy-future/

Article from MSN, interview with CBS:

"People should try to drive less. They should try to conserve energy," Walz told CBS News when asked how Americans could try saving money at the pump. "We should be doing that all the time. Energy's essential for people's lives, but we should conserve it."
"It's a global market for crude," Walz said. "We have crude here, that's closer to us, that we're all processing and using. That's helping Americans buffer their price. ... If this goes on for an extended period of time, it's probably gonna get tougher."

So… more wfh, right Andy?

https://www.msn.com/en-us/money/markets/chevron-executive-suggests-americans-should-drive-less-amid-high-gas-prices/ar-AA20UkrR?ocid=winp2fptaskbarhoverent&cvid=69df8a9f82a14a0cbd37caa4c8e29a43&ei=15

Updated - F, 4/10/26.

The Threat of Stagflation.

Energy prices are (not) coming down anytime soon -

• Energy prices will stay High for (months, or longer) due to numerous reasons from the U.S. Iran War.

The "peak" season for Energy is (Always) the Summer.

• Stagflation - High Inflation - Low Growth is a (Very serious) threat to the U.S. economy.

It the (current) trends continue (especially if Inflation is allowed to run) and the Fed doesn't raise Interest rates to control it is a Major recession > 2027.

• LEI - Leading Economic Index (the Chart).

  These are the facts.

Coming to a country near you. Stick that in your RTO pipe and smoke it, stank.

Oracle just laid off 25,000 employees on yesterday due to AI spending constraints.

They are looking at 30,000 total this round.

Total Technology layoffs 33,302 year-to-date.

Higher Energy prices will lead to a potential Major Recession by 2027.

Oil prices, and U.S. jobs created (nationally) -

• 2025 - 125,000 Total - Revised downwards from 181,000.

• 2026 - 34,000 Total - Non-Revised.

Higher Energy prices will remain for months (or longer) even if the U.S. Iran War ends (in the future) due to numerous factors including (the already damaged Energy infrastructure in the Mideast) with Iran remaining in control of the Strait of Hormuz.

• The U.S. will see  Oil prices (the highest) during the Summer peak season, Asia; and Europe; will see it first-now.

LNG not so much in the U.S. but that also applies as well.

• The U.S. economy, and (Wall Street) are (currently) underestimating the effects of higher Oil; and LNG prices to a lessor extent, on consumer spending; and jobs.

It will (not if) affect numerous product pricing, and supply chains; in virtually every industry.

How was the latest RIF in Smart Energy? How many and where?