Tag: energy
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Sonoco announces its 40th consecutive dividend increase of 4%
The Board of Directors of Sonoco (NYSE: SON) today increased its quarterly common stock dividend by approximately 4 percent to $0.51 per share from the previous quarterly distribution of $0.49 per share. This new dividend will be paid on June 9, 2023, to shareholders of record as of May 10, 2023. With this increase, Sonoco’s annualized dividend payout moves to $2.04 per share from $1.96 per…
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Exxon in talks to buy Pioneer Natural Resources
Discussions between the two companies about a potential deal have been informal, the people said. But after posting record profits in 2022, Exxon is flush with cash and, according to people familiar with the company’s plans, has been exploring options that could reshape a swath of the U.S. oil and gas industry while pushing Exxon deeper…
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After five years of exploration Exxon (XOM) abandons drilling off the coast of Brazil
After failing for the third time to find commercially viable amounts of crude there last year, the Texas oil giant has shifted geologists and engineers from working on the offshore acreage it began snapping up with partners for $4 billion in 2017 to other countries, including Guyana, Angola and Canada, these people said. Exxon hasn’t…
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Biden Administration places new restrictions on Arctic Oil exploration
President Biden moved to block future oil and gas leasing in the Arctic Ocean’s federal waters, part of a sweeping plan to protect 16 million acres of land and water in Alaska. Sunday’s announcement comes as the administration is preparing to approve the massive Willow oil-drilling project in the Alaskan Arctic over the objections of environmentalists and…
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TC Energy (TRP) ups dividend 3.3%
TC Energy Corporation (TRP) today announced that its Board of Directors declared a quarterly dividend of $0.93 per common share for the quarter ending March 31, 2023, on the Company’s outstanding common shares. The common share dividend is payable on April 28, 2023, to shareholders of record at the close of business on March 31,…
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Exxon to combine business units in part of reorg
The U.S. oil company, which posted a record profit in 2022, plans to form three new organizations under which it will wed several smaller units later this year such as its financial-services, procurement and customer-service groups, according to a memo that was sent to employees and viewed by The Wall Street Journal. Reorganizing the business…