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ExxonMobil to Sell U.K. Upstream Central and Northern North Sea Assets

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ExxonMobil has signed an agreement with HitecVision, through its wholly owned portfolio company NEO Energy, for the sale of most of ExxonMobil’s non-operated upstream assets in the United Kingdom central and northern North Sea. The sale price of more than $1 billion is subject to closing adjustments, and has additional upside of approximately $300 million in contingent payments based on potential for increase in commodity prices.
The sale includes ExxonMobil’s interests in 14 producing fields in the UK North Sea, including Shearwater (pictured). (Photo: Business Wire)
“We continue to high-grade our portfolio by divesting assets that are less strategic and focusing our investments on our advantaged projects that are among the best in the industry,” said Neil Chapman, senior vice president of ExxonMobil. “Our development plans that prioritize Guyana, the U.S. Permian Basin, Brazil a ....

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Exxon Mobil Corporation: ExxonMobil to Sell U.K. Upstream Central and Northern North Sea Assets

Exxon Mobil Corporation: ExxonMobil to Sell U.K. Upstream Central and Northern North Sea Assets
Sale price of more than $1 billion advances divestment plans, further focusing portfolio on advantaged assets
ExxonMobil retains extensive refining and fuels marketing, lubricants, petrochemicals production and natural gas marketing business in the U.K.
ExxonMobil has signed an agreement with HitecVision, through its wholly owned portfolio company NEO Energy, for the sale of most of ExxonMobil s non-operated upstream assets in the United Kingdom central and northern North Sea. The sale price of more than $1 billion is subject to closing adjustments, and has additional upside of approximately $300 million in contingent payments based on potential for increase in commodity prices. ....

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Federal Tax Credit Extended for Rinnai America Corporation Customers

Press release content from PR Newswire. The AP news staff was not involved in its creation.
Federal Tax Credit Extended for Rinnai America Corporation Customers
February 9, 2021 GMT
PEACHTREE CITY, Ga., Feb. 9, 2021 /PRNewswire/ Rinnai America Corporation, manufacturer of the number-one selling brand of Tankless gas Water Heaters in North America, announces the extension of Federal Tax Credits on residential energy efficiency products for their customers; qualifying products include tankless water heaters and boilers.
Homeowners who have made energy-efficient improvements, including an upgrade to a Rinnai Tankless Water Heater, may qualify for a $300 US federal tax credit known as the Nonbusiness Energy Property Credit. For a tankless unit to qualify, it must have a Uniform Energy Factor (UEF) of at least 0.82 – all Rinnai condensing tankless water heaters and the V94Xi non-condensing tankless water heater qualify. ....

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Tan Sri Wan Zulkiflee Wan Ariffin Joins ExxonMobil Board of Directors

Press release content from Business Wire. The AP news staff was not involved in its creation.
Tan Sri Wan Zulkiflee Wan Ariffin Joins ExxonMobil Board of Directors
February 2, 2021 GMT
IRVING, Texas (BUSINESS WIRE) Feb 2, 2021
Exxon Mobil Corporation (NYSE:XOM) said today that Tan Sri Wan Zulkiflee Wan Ariffin has joined its board of directors. Wan Zulkiflee served from 2015 to 2020 as president and group chief executive officer of Petronas, the national oil and gas company of Malaysia.
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In his role as president and CEO at Petronas, Wan Zulkiflee led strategic growth and efficiency initiatives, and the company’s entry into specialty chemicals. During his tenure, Petronas reported multiple years of strong results and furthered the company’s investments in lower-emission technologies. ....

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Len Fox Elected as Controller, Corporate Vice President; David Rosenthal to Retire

Press release content from Business Wire. The AP news staff was not involved in its creation.
Len Fox Elected as Controller, Corporate Vice President; David Rosenthal to Retire
February 1, 2021 GMT
IRVING, Texas (BUSINESS WIRE) Feb 1, 2021
The Exxon Mobil Corporation (NYSE:XOM) board of directors has elected Len M. Fox as vice president and controller for the company, effective March 1, 2021. Fox will replace David Rosenthal, who is anticipated to retire on or about July 1, 2021.
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Fox has worked for ExxonMobil since 1988, starting as an analyst in Exxon Coal and Minerals controllers organization in Houston, Texas. He has held increasingly senior roles and management positions, including in financial services in Exxon Chemical Company and Exxon Company U.S.A., planning in ExxonMobil Production Company, as chief financial officer for the Aera joint venture, and as general auditor for ExxonMobil’s upstream companies. ....

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