Exxon profit falls compared with record-setting numbers last year, but consolidation in full swing By MICHELLE CHAPMAN AP Business Writer Exxon Mobil’s third-quarter profit declined compared with last year’s unprecedented numbers, but they’re up 15% compared with the previous quarter. The oil giant had its strongest ever refinery throughput for the period. It also raised its quarterly dividend. Exxon Mobil …

Chevron Corp. expects to close on a $5 billion deal to acquire Noble Energy, Inc. by the end of this year. In the largest oil and gas deal since the coronavirus pandemic hit in March and the oil price crashed below zero in April, Chevron officials announced Monday the company has entered into a definitive agreement with Noble to acquire …

NEW YORK (AP) — Profits fell at Exxon Mobil and Chevron warned of tough times ahead as the global pandemic began to erode oil demand. Exxon lost $610 million in the first quarter, down 126% from the same time last year, the Irving, Texas oil giant said Friday. Revenue was $56.16 billion, down 12% from the same quarter in 2019. …

It’s March 17, and A.J. De Los Santos is stressing out over the news. Lorena Castillo and Becca Titus were right behind him on the stress-o-meter. As the staff of United Way of Lea County, they just learned that the United Way worldwide organization sent down a decree that each local non-profit agency needs to immediately create a Community Crisis …

SAN RAMON, Calif. (AP) — Chevron Corp. said Tuesday it will book a charge of at least $10 billion because lower long-term prices for oil and natural gas will reduce the value of its assets. More than half the write-down is related to gas drilling operations in Appalachia. The huge fourth-quarter write-down — between $10 billion and $11 billion — …

It’s usually a big, over-sized check whenever a major oil company donates to a Lea County school. This check needed to be big, to fit all the zeros. On Tuesday, the Chevron Corp. donated $100,000 to Hobbs Municipal Schools as part of its Community Partner program. The program focuses on three areas of social investment — health, education and economic …

SAN RAMON, Calif. (AP) — Chevron won’t increase its buyout offer for Anadarko, cutting short a potential bidding war with Occidental Petroleum. Occidental challenged Chevron’s initial bid last month, offering $57 billion in cash and stock, including debt and book value of non-controlling interest. Chevron’s offer was worth about $50 billion by the same metric. Occidental’s bid gained momentum two …

NEW YORK (AP) — A bidding war is breaking out over Anadarko Petroleum, with Occidental making an offer that it says is about a 20% premium to Chevron’s deal announced earlier this month. Occidental Petroleum Corp. said in a letter to Anadarko’s board on Wednesday that its bid is worth $76 per share in cash and stock and would give …

DALLAS (AP) — Exxon Mobil increased revenue during a volatile fourth quarter for world oil markets, but profit fell 28 percent from a year earlier, when Exxon booked a huge gain from lower corporate tax rates. The earnings topped Wall Street expectations, however, and capped Exxon’s most profitable year since 2014. The shares rose $2.64, or 3.6 percent, to close …