ExxonMobil Enters Black Sea with Exploration Agreement in Turkey

Exxon Mobil Corporation announced today its affiliate, ExxonMobil Exploration and Production Turkey B.V., has signed an agreement with Turkish national oil company, Türkiye Petrolleri Anonim Ortakl??? (TPAO), to explore in two large deepwater blocks offshore Turkey, marking ExxonMobil’s entry into Black Sea exploration. ExxonMobil will become operator during the initial exploration phase and earn... 

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Exxon Mobil Plans $100M Philippines Investment

Exxon Mobil says it will invest at least $100 million in offshore oil exploration near the Philippines. Stephen Greenlee, vice president for Exxon Mobil Exploration Co., says Exxon is evaluating seismic data from the area and could start drilling next year, he said. The Philippines government this week announced that a consortium of mostly Philippine companies will immediately begin commercial oil... 

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Australia’s Nido Petroleum eyes listing of RP operations

Nido Petroleum Philippines Ltd. plans to undertake an initial public offering (IPO) in the medium term to fund capital expenditures for future oil exploration in the Philippines, a top company official said. David Whitby, managing director of Australia-based Nido Petroleum Ltd., told reporters on Friday that they are eyeing to eventually list their shares at the Philippine Stock Exchange (PSE). ”Strategically,... 

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Oil Giants Put Energy Into Other Resources

Inside two half-million-gallon tanks built in the 1950s, a team of microorganisms is preparing to munch its way into the annals of energy innovation. Late this month, the microbes will start transforming truckloads of restaurant grease into electricity for a water pollution control plant in Millbrae, Calif. The one-of-a-kind setup relieves the city and area eateries of a fatty disposal headache while... 

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