PetroChina, China’s second largest petroleum retailer with more than 18,000 stations across the country, has selected the retail division of New York-based CBX to develop a brand strategy and new prototype for its fuel and convenience store operation.
Banking on CBX’s global expertise in the petroleum and convenience retail sector, PetroChina’s new store prototype will bring [...]

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 [...]

Exxon Mobil is getting out of the retail gasoline business, a market where profits have gotten tougher because of high crude oil prices.
The world’s largest publicly traded oil company said Thursday it will sell its 820-company owned stations and another 1,400 outlets operated by dealers to gasoline distributors across the U.S.
The Irving-based company didn’t [...]

Exxon Mobil chairman and CEO Rex Tillerson will keep both of his titles, as shareholders rejected a plan to split the top jobs at the oil company.
The plan to split Tillerson’s duties into two positions got only 39.5 percent of shareholders’ support at the company’s annual meeting in Houston. A similar vote last year failed [...]

Top executives of the five largest oil companies tried to shift the country’s anger over high petroleum prices to a debate over supplies in a hearing on Capitol Hill.
Sen. Patrick Leahy, D-Vt., told the executives there’s “a disconnect” between normal supply and demand and the skyrocketing price of oil — surpassing $130 a barrel even [...]

French oil company Total SA, the world’s fourth-largest oil and gas company, said its first-quarter profit rose 18 percent thanks to higher commodity prices.
Excluding an after-tax inventory effect, adjusted net income increased 9 percent to 3.25 billion euros ($4.87 billion). The company’s exploration and production business accounted for 85 percent of overall operating profit.
The results [...]

Members of the Rockefeller family, descended from the founder of what is now Exxon Mobil Corp., want the oil giant to split the roles of chairman and CEO and to put more focus on renewable energy.
The family members, who describe themselves as the company’s longest continuous shareholders, say they are concerned that the Irving, Texas-based [...]

Nigerian oil workers ended a strike that cut the country’s oil output over the last several days. The head of the union at an Exxon Mobil Corp. unit said members would return to work after negotiators reached an agreement with management about pensions.
Exxon Mobil said in a statement that it was restarting production.
Nigeria produces about [...]

Exxon Mobil Corp.’s first-quarter profit climbed 17 percent to $10.9 billion. That is the second-biggest U.S. quarterly corporate profit ever. Only Exxon Mobil’s fourth-quarter profit last year was bigger at $11.7 billion.
Earnings for the first three months of the year came to $2.03 per share, up from $9.3 billion, or $1.62 per share, a year [...]

The anti-corruption group Transparency International rated more than 40 energy companies on how much they disclose about where they get their revenue, how much they pay host governments and how they operate.
The survey gave low grades to Exxon Mobil but praised Shell and Petrobras.
Royal Dutch Shell PLC, Brazil’s Petrobras, Norway’s StatoilHydro ASA and Petro-Canada are [...]