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.

About The Author Amanda Casanova

I am a writer and editor based in north Texas. Previously, I have worked for the Galveston County Daily News, the Houston Chronicle, the Abilene Reporter-News and the Lufkin Daily News. I’m also a Texas A&M University graduate and because of this, I own way too many maroon T-shirts. I’m happily married to my college sweetheart. I love Gilmore Girls and running in 5K races. Also, I have a slight addiction to vanilla Dr Pepper.