Here’s what you need to know this week in oil and gas:
Tillerson’s assets total $400 million
Rex Tillerson, who is President-elect Donald Trump’s choice for secretary of state, disclosed his assets this week, which totaled as much as $400 million in investments that spanned more than a dozen nations.
Tillerson, the former chairman and chief executive officer of Exxon Mobil Corp., will receive a cash payout from the company of about $180 million instead of restricted stock awards that have yet to vest. In his ethics filing, Tillerson said the money would be placed in a trust to be managed by an independent trustee.
About $300 million of the assets are in Exxon interests and pension benefits and between $28.6 million and $98 million are in other assets.
Tillerson’s confirmation hearing could begin as soon as next week.