“I made it a goal for our country to get to net-zero emissions from pollutants by 2050,” Biden explained. “By the way, it’s the only existential threat to humanity, if we don’t stay below these numbers, the whole world is changing. Clean hydrogen is going to help us meet this goal. When it comes to charging our cars or powering our homes, all we need is clean electricity.”

According to a report by the US Energy Department, the country could produce up to 10 million metric tons of hydrogen by 2030. The U.S. government has been on a mission to reduce hydrogen costs by 80% to $1 a kilogram by 2030.

The post Amazon, Exxon Hydrogen to Receive Piece of $7 Billion U.S. Funds appeared first on theprimarymarket.com.

Reportedly, ExxonMobil already approached Pioneer to test the company’s openness to being sold. However, at this point, the talks are exploratory and remain on an informal level. If the talks result in a positive outcome, the deal shouldn’t be expected sooner than 2024.

ExxonMobil benefited from surging gas and oil prices that dominated for the better part of 2022. The company saw a historic $55.7 billion in earnings while finishing the year with more than $29 billion in cash and equivalents.

Now, ExxonMobil wants to put those huge profits to use and is looking to pull off a blockbuster deal that would ensure they remain one of the industry powerhouses for years to come.

While Pioneer remains their primary target, they are also looking into several other companies of a similar profile.

Pioneer is the country’s third-largest shale oil producer on the country and the largest one in Permian Basin. The Irving, Texas, headquartered company finished 2022 with $8.4 billion in surplus cash, sending the majority of that amount to its shareholders through dividends and a stock buyback program.

The post ExxonMobil Exploring Acquisition of Shale Oil Producer Pioneer appeared first on theprimarymarket.com.

“I made it a goal for our country to get to net-zero emissions from pollutants by 2050,” Biden explained. “By the way, it’s the only existential threat to humanity, if we don’t stay below these numbers, the whole world is changing. Clean hydrogen is going to help us meet this goal. When it comes to charging our cars or powering our homes, all we need is clean electricity.”

According to a report by the US Energy Department, the country could produce up to 10 million metric tons of hydrogen by 2030. The U.S. government has been on a mission to reduce hydrogen costs by 80% to $1 a kilogram by 2030.

The post Amazon, Exxon Hydrogen to Receive Piece of $7 Billion U.S. Funds appeared first on theprimarymarket.com.

Reportedly, ExxonMobil already approached Pioneer to test the company’s openness to being sold. However, at this point, the talks are exploratory and remain on an informal level. If the talks result in a positive outcome, the deal shouldn’t be expected sooner than 2024.

ExxonMobil benefited from surging gas and oil prices that dominated for the better part of 2022. The company saw a historic $55.7 billion in earnings while finishing the year with more than $29 billion in cash and equivalents.

Now, ExxonMobil wants to put those huge profits to use and is looking to pull off a blockbuster deal that would ensure they remain one of the industry powerhouses for years to come.

While Pioneer remains their primary target, they are also looking into several other companies of a similar profile.

Pioneer is the country’s third-largest shale oil producer on the country and the largest one in Permian Basin. The Irving, Texas, headquartered company finished 2022 with $8.4 billion in surplus cash, sending the majority of that amount to its shareholders through dividends and a stock buyback program.

The post ExxonMobil Exploring Acquisition of Shale Oil Producer Pioneer appeared first on theprimarymarket.com.