The cuts would include everything from layoffs to retirements or performance-based exits
Chevron's market value leapfrogged that of Exxon Mobil for the first time during a week in which it closed a $4.1 billion, all-stock deal for Noble Energy, a smaller oil and gas producer
It's not the first time that there's only been one oil and gas company in the Dow
Prompted by Apple's stock split, Exxon will exit the index after 92 years
Exxon's oil and gas production business fell to a loss and its refining unit was hit by lower demand and weaker prices
Billionaire Mukesh Ambani's Reliance Industries is India's answer to US giants Exxon, AT&T and Amazon - all rolled into one, Bernstein Research said on Tuesday. "Reliance has disrupted the energy and telecoms industry in India and is on the cusp of doing the same to retail, fintech, and media," it said in a report adding the company has an enviable track record of innovation and execution. For the oil-to-telecom conglomerate, energy remains core business and is expected to further expand as India is forecast to be the fastest-growing market for fuel and chemical products over the next decade, it said adding the company's partnership with BP of the UK and Saudi Aramco will support this. Reliance owns the world's largest single-site oil refining complex and has multiple petrochemical plants. Three years back it forayed into telecom business and has reached 34 per cent share of market revenue. "Based on the current net add run-rates it will likely reach 44 per cent share by the end ..
The decision came after a trial that included testimony from former Exxon Mobil CEO Rex Tillerson
The sell-off would be a marked acceleration of the US oil major's previous divestment plans.
State offers no hard evidence of an effort to mislead holders
It made its investments on a joint-venture basis with the state-owned Petroleos de Venezuela SA
Trump appears to be in the final days of deliberations over his top diplomat with an announcement possible next week