Donald Trump Tag

US President Donald Trump has devised a plan to sell off half of the nation’s strategic crude oil reserves in order to help balance the budget. The plan was outlined in the White House’s 2018 budget proposal, which proposes raising nearly US$16.6 billion by 2027 through...

ExxonMobil (NYSE:XOM) and SABIC (Saudi Basic Industries Corporation) have signed an agreement which will see planning commence for a petrochemicals project in Texas. Both companies selected a site in San Patricio County last month, for the proposed petrochemical complex, that will process 1.8 million tonnes of...

Global discoveries of conventional crude oil plummeted to a record low in 2016 as energy firms continued to pursue cost-cutting measures following sustained low prices in the sector. The International Energy Agency (IEA) reported that oil discoveries dropped to 2.4 billion barrels last year, compared to...

US President Donald Trump has launched an investigation into cheap foreign imports of steel, citing concerns over national security. According to analysts, this move could raise the possibility of new tariffs being introduced on steel imports, thus strengthening the national steel industry in the US. The announcement...

ExxonMobil (NYSE:XOM) has announced it will commit US$20 billion of investments to the US Gulf Coast over a 10-year period. The world’s largest publicly traded oil company will strategically invest in new refineries, petrochemicals and other projects across the region. Chairman and chief executive Darren Woods told...