exxonmobil
New York (AFP) - ExxonMobil and Chevron reported lower but still strong profits Friday as they push ahead with hefty shareholder payouts and major acquisitions. The two biggest US oil companies, which have similar profiles and strategies, both saw fourth-quarter profits dip amid lower commodity prices, especially for natural gas. But both companies still scored mammoth full-year earnings: $36 billion at ExxonMobil and $21.4 billion at Chevron. Those are below the record profits of 2022, which benefited from a spike in crude prices following Russia's invasion of Ukraine, but robust enough to e...
AFP
Oil giant Exxon Mobil has filed a complaint in a Texas court seeking to prevent climate activist investors' proposal from going to a vote at its annual investor meeting in May. This marks the first time a major US oil company has gone to court to block environmental activist investors' motions. The complaint was filed in the US District Court for the Northern District of Texas against Massachusetts-based investment firm Arjuna Capital and Follow This, an Amsterdam-based activist investor group. The investors have been urging Exxon to step up the pace of reductions in greenhouse gas emissions. ...
DPA International
Oil giant Exxon Mobil has filed a complaint in a Texas court seeking to prevent climate activist investors' proposal from going to a vote at its annual investor meeting in May. This marks the first time a major US oil company has gone to court to block environmental activist investors' motions. The complaint was filed in the US District Court for the Northern District of Texas against Massachusetts-based investment firm Arjuna Capital and Follow This, an Amsterdam-based activist investor group. The investors have been urging Exxon to step up the pace of reductions in greenhouse gas emissions. ...
DPA
Oil giant Exxon Mobil has filed a complaint in a Texas court seeking to prevent climate activist investors' proposal from going to a vote at its annual investor meeting in May. This marks the first time a major US oil company has gone to court to block environmental activist investors' motions. The complaint was filed in the US District Court for the Northern District of Texas against Massachusetts-based investment firm Arjuna Capital and Follow This, an Amsterdam-based activist investor group. The investors have been urging Exxon to step up the pace of reductions in greenhouse gas emissions. ...
DPA Breaking News
New York (AFP) - ExxonMobil sealed a megadeal to acquire shale producer Pioneer Natural Resources for about $60 billion on Wednesday, and depicted the transaction as boosting US energy security in an attempt to allay regulatory concerns. The US oil giant said the takeover, the company's biggest since the late 1990s acquisition of Mobil by Exxon, will enable greater economies of scale in the Permian Basin -- a fast-growing petroleum region in the southwestern US -- permitting it to deploy drilling and operating technologies over a bigger region and enabling cheaper oil production. "The combined...
AFP
New York (AFP) - Shares of Pioneer Natural Resources surged more than 10 percent Friday following reports the shale producer is nearing a megadeal to be acquired by ExxonMobil. The potential transaction, which would bolster ExxonMobil's holdings in the Permian Basin in Texas and New Mexico, could be announced "in the coming days" and be worth $60 billion, reported the Wall Street Journal, citing people familiar with the matter. The newspaper also said it was "still possible" there would be no deal. Pioneer's output of 707,000 barrels per day of oil equivalent amount to just over a quarter of E...
AFP
Key Points Exxon Mobil has been struggling below resistance near $119 for the past six months, but the stock rallied in recent weeks.An area of price consolidation often sets up a stock for fresh gains.Exxon Mobil’s CEO said in June that he expects Permian Basin shale production to double in the next five years, helped by technological advances.The company has a 40-year track record of increasing its dividend.5 stocks we like better than Exxon MobilExxon Mobil Corp. (NYSE:XOM) has been struggling below resistance near $119 as it forms a follow-on base after undercutting previous structure lows...
ValueWalk
Shares of Exxon Mobil (NYSE:XOM) fell by as much as 1.8% during the early hours of Friday’s trading session; the decline is happening on a day when the broader markets (namely the S&P 500) are up by a third of a percent. The initial reaction can be attributed to markets digesting the latest figures released by the oil giant during its second quarter of 2023. Key PointsExxon Mobil stock declined after the company released its second quarter 2023 earnings results. As it will become apparent, the initial reaction to the developments throughout the year will represent a severe disconnect from real...
ValueWalk
New York (AFP) - ExxonMobil and Chevron reported profits Friday that were much lower than last year's due a drop in commodity prices, but still lofty enough to enable increased shareholder distributions. The two US oil giants joined European rivals Shell and Total in seeing steep declines in their bottom-line results compared with the heady year-ago period when Russia's invasion of Ukraine sent crude and natural gas prices sky bound. ExxonMobil reported profits of $7.9 billion, down 56 percent on a 28 percent drop in revenues to $82.9 billion. Chevron reported profits of $6.0 billion, down 48 ...
AFP
New York (AFP) - ExxonMobil will acquire Denbury Inc., a specialist in enhanced oil recovery and carbon sequestration, for $4.9 billion as it builds out its low-carbon business, the oil giant announced Thursday. The all-stock acquisition provides ExxonMobil with Denbury's carbon dioxide pipeline network in industrial-rich regions of the southern states of Texas, Louisiana and Mississippi, where oil companies plan major carbon sequestration projects in response to climate change. The deal is expected to close in the fourth quarter. "Acquiring Denbury reflects our determination to profitably gro...
AFP
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