ExxonMobil Corp. (NYSE:XOM), the world’s largest publicly-traded oil producer, named MetLife Inc. CEO Steven Kandarian to its board of directors Feb. 1.
The company cited Kandarian’s financial and risk management experience as a reason for adding him to the board, which will now have 11 members.
ExxonMobil does not hedge is oil production but does have insurance and other financial protections for part of its operations.
Shares of ExxonMobil rose 1.9% to $88.95 in afternoon trading Feb. 1.
ExxonMobil’s move came the same day Chevron Corp. (NYSE: CVX) named Caterpillar Inc. CEO Jim Umpleby to its own board.
Both ExxonMobil and Chevron are slated to report quarterly results Feb. 2.
Recommended Reading
OMV Makes Gas Discovery in Norwegian Sea
2024-08-26 - OMV and partners Vår Energi and INPEX Idemitsu discovered gas located around 65 km southwest of the Aasta Hansteen field and 310 km off the Norwegian coast.
Chevron Boosts Oil, NatGas Recovery in Gulf of Mexico
2024-09-03 - Chevron’s Jack/St. Malo and Tahiti facilities have produced 400 MMboe and 500 MMboe, respectively.
The EPC Market Keeps Its Head Above Water
2024-08-06 - While offshore investments are rising, particularly in deepwater fields, challenges persist due to project delays and inflation, according to Westwood analysis.
As Oil Production Scales the Heights, Texas E&P Jobs Disappear —TXOGA
2024-08-06 - As operational efficiencies give E&Ps the ability to produce more oil with fewer rigs, Texas employment in the oil patch has fallen five out of the first six months of 2024.
BP and NGC Sign E&P Deal for Offshore Venezuelan Cocuina Field
2024-07-28 - BP and NGC signed a 20-year agreement to develop Venezuela’s Cocuina offshore gas field, part of the Manakin-Cocuina cross border maritime field between Venezuela and Trinidad and Tobago.