ExxonMobil will only consider M&A if it adds value says CEO
The market for upstream acquisitions is good with low asset values but chief executive Rex Tillerson said the company's criteria was unchanged
ExxonMobil will keep an eye on the market for upstream acquisitions at this time of low asset values but its criteria have not changed, its chief executive Rex Tillerson told the Oil & Money conference in London 7 October. “We are looking for quality assets in terms of people and resources, where we can add value,” he said. Apart from the Anglo-Dutch major Shell bidding for UK BG, there has been little acquisition activity, compared with the price crash at the end of the 90s. It takes a buyer or a seller “a while to sort out the value of a business,” Tillerson said. Owning midstream assets would only be important to ExxonMobil if that would improve the security of its supply, he said. “W
Also in this section
20 February 2026
The country is pushing to increase production and expand key projects despite challenges including OPEC+ discipline and the limitations of its export infrastructure
20 February 2026
Europe has transformed into a global LNG demand powerhouse over the last few years, with the fuel continuing to play a key role in safeguarding the continent’s energy security, Carsten Poppinga, chief commercial officer at Uniper, tells Petroleum Economist
20 February 2026
Sempra Infrastructure’s vice president for marketing and commercial development, Carlos de la Vega, outlines progress across the company’s US Gulf Coast and Mexico Pacific Coast LNG portfolio, including construction at Port Arthur LNG, continued strong performance at Cameron LNG and development of ECA LNG
19 February 2026
US LNG exporter Cheniere Energy has grown its business rapidly since exporting its first cargo a decade ago. But Chief Commercial Officer Anatol Feygin tells Petroleum Economist that, as in the past, the company’s future expansion plans are anchored by high levels of contracted offtake, supporting predictable returns on investment
