ExxonMobil Responds to International Chamber of Commerce Arbitration Ruling
STATEMENT:
We disagree with the ICC panel's interpretation but respect the arbitration and dispute resolution process. As we've said before, ExxonMobil and CNOOC are aligned that we had a duty to ensure contract terms are always adhered to and not set a bad precedent for ourselves and industry.
Given the significant value we've created in the development of the Guyana resource, we believed we had a clear duty to our investors to consider our preemption rights to protect the value we created through our innovation and hard work at a time when no one knew just how successful this venture would become.
We welcome Chevron to the venture and look forward to continued industry-leading performance and value creation in Guyana for all parties involved.
About ExxonMobil
ExxonMobil, one of the largest publicly traded international energy and petrochemical companies, creates solutions that improve quality of life and meet society's evolving needs.
The corporation's primary businesses - Upstream, Product Solutions and Low Carbon Solutions – provide products that enable modern life, including energy, chemicals, lubricants, and lower emissions technologies. ExxonMobil holds an industry-leading portfolio of resources, and is one of the largest integrated fuels, lubricants, and chemical companies in the world. ExxonMobil also owns and operates the largest CO2 pipeline network in the United States. In 2021, ExxonMobil announced Scope 1 and 2 greenhouse gas emission-reduction plans for 2030 for operated assets, compared to 2016 levels. The plans are to achieve a 20-30% reduction in corporate-wide greenhouse gas intensity; a 40-50% reduction in greenhouse gas intensity of upstream operations; a 70-80% reduction in corporate-wide methane intensity; and a 60-70% reduction in corporate-wide flaring intensity. To learn more, visit exxonmobil.com and ExxonMobil's Advancing Climate Solutions.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
a few seconds ago
- Business Wire
i3 Verticals Announces Earnings Release and Conference Call Date for Third Quarter of Fiscal 2025
NASHVILLE, Tenn.--(BUSINESS WIRE)--i3 Verticals, Inc. (Nasdaq: IIIV) ('i3 Verticals' or the 'Company'), announced today that it will release its financial results for the third quarter ended June 30, 2025, on Thursday, August 7, 2025, after the Nasdaq market close. The Company will also host a conference call on Friday, August 8, 2025, at 8:30 a.m. EDT to discuss financial results and operations. To listen to the call live via telephone, participants should dial (844) 887-9399 approximately 10 minutes prior to the start of the call. A telephonic replay will be available from 11:30 a.m. EDT on August 8, 2025, through August 15, 2025, by dialing (877) 344-7529 and entering Confirmation Code 4426770. To listen to the call live via webcast, participants should visit the 'Investors' section of the Company's website, and go to the 'Events & Presentations' page approximately 10 minutes prior to the start of the call. The online replay will be available on this page of the Company's website beginning shortly after the conclusion of the call and will remain available for 30 days. About i3 Verticals The Company provides innovative software and services solutions to its public sector customers. These comprehensive solutions cover a broad range of applications, including cloud native enterprise software, all of which enable state and local governments and related agencies to serve their constituents in an efficient and seamless manner. With thousands of software installations across all 50 states and Canada, i3 Verticals is a leader in the public sector vertical. More information about the Company can be found at
Yahoo
28 minutes ago
- Yahoo
AM Best Upgrades Credit Ratings of Lincoln Heritage Life Insurance Company
OLDWICK, N.J., July 24, 2025--(BUSINESS WIRE)--AM Best has upgraded the Financial Strength Rating to A (Excellent) from A- (Excellent) and the Long-Term Issuer Credit Rating to "a" (Excellent) from "a-" (Excellent) of Lincoln Heritage Life Insurance Company (Lincoln Heritage) (Springfield, IL). The outlook of these Credit Ratings (ratings) has been revised to stable from positive. The ratings reflect Lincoln Heritage's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management. The upgrading of the ratings for Lincoln Heritage reflects a trend of strong and consistent operating performance, with three consecutive years of record operating, underwriting, and investment earnings. The company's strong operating performance is further evidenced in the return on equity ratios, which exceed 20% on a one-, three- and five-year basis. This trend of improved operating performance began in 2022, when the company reported strong underwriting gains mainly driven by a significant decline in death claims. This trend of underwriting income continued through 2024, and continues through first-quarter 2025, as claims trends have moderated over time post the COVID-19 pandemic. Investment income has also increased significantly in recent years, largely driven by growth in invested assets and an improvement in investment yield from the investment portfolio. Lincoln Heritage's strong operating results have been accretive to the balance sheet, with risk-adjusted capital and liquidity metrics improving as its capital has accumulated over the long term. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on
Business Wire
30 minutes ago
- Business Wire
Files.com Acquires ExpanDrive, Launches Free Version to Expand Multi-Cloud Access
TEMPE, Ariz.--(BUSINESS WIRE)-- the leading platform for secure and automated file transfer, today announced its acquisition of ExpanDrive, a desktop application for accessing cloud and remote storage as local drives. As part of the acquisition, ExpanDrive is now free for personal use under a new freemium pricing model. Bringing Remote Storage to the Desktop ExpanDrive enables users to mount cloud platforms and remote servers – including SFTP, Amazon S3, Google Drive, and Dropbox – directly into their native file explorers on macOS, Windows, and Linux, without syncing or separate transfers. 'ExpanDrive offers a beautifully simple way to access remote storage right from your desktop,' said Kevin Bombino, CEO of 'We're thrilled to make it free for personal use, helping more people experience frictionless file access.' Freemium Model Now Live ExpanDrive is now: Free for individuals and small teams (under 10 users annually) Paid for larger teams and enterprises, unlocking features like the Web Console, Server Edition, and premium support Strengthening the Ecosystem ExpanDrive's technology and user experience will help shape future innovations across the platform – reinforcing its mission to unify secure file access, automation, and management at any scale. About ExpanDrive Founded in 2004, ExpanDrive allows users to mount cloud and remote storage as local drives across operating systems, simplifying access to services like SFTP, S3, Google Drive, Dropbox, and more. About is the secure file platform for automation, compliance, and scale, trusted by over 4,000 organizations. It enables teams to manage, transfer, and integrate files across systems with enterprise-grade security, direct cloud integrations, and powerful automation.
