ExxonMobil first-quarter earnings plunge $3.1 billion

ExxonMobil Corp. posted first-quarter earnings of $1.8 billion compared with $4.9 billion a year earlier. The impacts of sharply lower commodity prices and weaker refining margins were partly offset by strong chemical results. Source: News

Chevron posts $725-million first-quarter loss

Chevron Corp. posted a first-quarter loss of $725 million compared with earnings of $2.6 billion in first-quarter 2015. Foreign currency effects decreased earnings in the quarter by $319 million compared with an increase of $580 million a year earlier. Source: News

Turkmenistan advances plans for second GTL plant

Turkmenistan is moving forward with construction of a second grassroots gas-to-liquids plant to be built at Ovadan-Depe, near the country’s capital city of Ashgabat. Source: News

Cedigaz: Gas market imbalance to last in the short, medium terms

Worldwide natural gas consumption in 2015 was characterized by moderate growth, up 1.6% to 3,472 billion cu m, after having stagnated in 2014, according to first estimates of Cedigaz, the international association for natural gas. Source: News

Hollub’s move to Oxy chief executive complete

Vicki A. Hollub has been appointed by the board of Occidental Petroleum Corp., Houston, as president and chief executive officer, completing the previously disclosed succession plan with Stephen I. Chazen. Source: News

MARKET WATCH: NYMEX crude oil price reaches above $46/bbl

Light, sweet crude prices for June delivery gained 70¢ on the New York market, closing Apr. 28 at $46.03/bbl and marking a second consecutive record settlement for 2016. Brent crude oil for June delivery closed above $48/bbl, and the Brent June contract was set to expire with Apr. 29 closing. Source: News

Suncor to buy additional 5% of Syncrude for $937 million (Can.)

Suncor Energy Inc. is to buy an additional 5% of Syncrude Canada Ltd. for $937 million (Can.) from the Canadian subsidiary of Murphy Oil Corp. The purchase will bring Suncor’s interest in Syncrude to 53.74% and close out Murphy’s participation (OGJ Online, Dec. 9, 2015). Source: News