Exxon Stock News

Exxon Mobil (XOM) CEO Darren Woods said if there''s a supply disruption of Russian crude it could lead to "significantly" higher oil prices. "I think its very difficult to know exactly…

As the Russian invasion looms on, Western companies have started to pull out of Russia. These include Exxon Mobil, Ford, Netflix and Disney.

Oil and Natural Gas Corp (ONGC) said on Thursday it did not foresee any challenge in selling its share of crude from Russian oilfields or repatriating dividends from there in the current situation."Based on present applicable sanctions and removal of five Russian banks from SWIFT arrangement, the company does not foresee any challenge in selling crude oil or repatriating dividends except that scrutiny of financial transactions may be higher than usual," ONGC Videsh, the overseas arm of state-run explorer, said in an emailed response to ET. "ONGC Videsh banks in Russia are not affected by SWIFT cut off as of now as per our information," it added.Oil prices rallied to $119 per barrel on Thursday on fears that Russian supplies will be disrupted by the volley of Western sanctions that are aimed at non-energy sectors. Cautious financiers, insurers, and traders are steering away from Russian oil cargoes. "As of now, we have not faced any issues (in selling crude)," ONGC said.ONGC didn''t clearly say if it was rethinking its investment plan in Vostok, Russia''s massive arctic oil project. "Considering the dynamic nature of the development as a result of the Russia-Ukraine conflict, ONGC Videsh is keeping a close watch on the development," the company said on Vostok plans.Sources told ET that Western sanctions would make it nearly impossible for ONGC to raise capital for investment in the massive Vostok project.

In response to Russia’s invasion of Ukraine, British energy giant BP announced on February 27 that it will sell its nearly 20% ownership in Russian state-owned energy giant Rosneft. BP’s rival Shell is also pulling out of all of its operations in Russia, as are US energy giant ExxonMobil and Norway’s state-controlled company, Equinor. These […] The post Shell, BP, ExxonMobil leaving Russia after decades appeared first on Asia Times .

Energy expert, Wood Mackenzie, said Seplat Energy’s move to acquire the entire share capital of Mobil Producing Nigeria Unlimited (MPNU), a subsidiary of ExxonMobil, offers huge upside for oil as well as gas. In his recent insight, Mackenzie, who is a trusted intelligence provider that empowers decision-makers with unique insights on the world’s natural resources, […]

Exxon (XOM) stock could see a major rise in the coming months with price predictions for crude oil increasing due to the Russia-Ukraine war.

Oil prices are at their highest level since 2008, and a disruption in supplies out of Russia could lead to significantly higher prices.

Volodymyr Zelensky addressed the Russian people the day before Russia invaded Ukraine last week, asking them to stop their leadership from sending troops across the border and into his country, in an emotional video appeal that underscored the close ties between the two nations. Zelensky said Moscow had approved the movement of nearly 200,000 troops into Ukrainian territory, along with thousands of armored vehicles. He said an incursion risked becoming “the start of a big war on the European continent.” “You are being told this is a plan to free the people of Ukraine,” Zelensky said. “But the Ukrainian people are free.” “The Ukraine on your news and Ukraine in real life are two completely different countries, and the main difference is that ours is real,” Zelensky said. “You are told that we are Nazis. How could a people that lost more than 8 million people in the fight against Nazism support Nazism? “How could I be a Nazi?” Zelensky, who is Jewish, asked, noting that his grandfather spent the entire war as a Soviet soldier but died in an independent Ukraine.

Following Russia’s invasion of Ukraine, it has also revealed it will make no new investments in Russia The post ExxonMobil stops management of Sakhalin-1 appeared first on Energy Live News .

Exxon Mobil Corp (NYSE: XOM ) shares are up 25.4% year-to-date in 2022 as investors have piled into energy stocks, value stocks and dividend stocks. One analyst said Thursday that a closer look at Exxon''s fundamentals reveals it may actually be an under-the-radar growth stock. The Analyst: Bank of America analyst Doug Leggate reiterated his Buy rating and $110 price target for Exxon. Related Link: 6 Of The Best Energy Stocks To Buy And Hold As Oil Prices Surge The Thesis: Leggate said Thursday that Exxon''s long-term growth strategy is transitioning from four years of investment to an extended period of cash flow growth in 2022. Over the next five years, Leggate estimates Exxon will generate $100 billion … Full story available on Benzinga.com

NEW YORK , March 3, 2022 /PRNewswire/ -- InvestorsObserver issues critical PriceWatch Alerts for PLAN, STLD, AMD, DE, and XOM. … Full story available on Benzinga.com

Renewable fuels company Global Clean Energy Holdings (GCEH) announced today that it has raised $145 million, in a preferred stock deal led by energy giant ExxonMobil. GCEH specializes in nonfood-based feedstocks used for the production of ultra-low carbon advanced biofuels and biomaterials. Proceeds from the financing will be used to complete the conversion of GCEH’s […] The post Renewable Biofuels Producer Global Clean Energy Holdings Raises $145 Million appeared first on ESG Today .

German car giant, Volkswagen (VW) said it would stop its vehicle production in Russia “until further notice” and “immediately” halt exports to Russia in light of the attack on Ukraine. VW operated its own car production sites in Kaluga, south-west of Moscow and Nizhny Novgorod, further east. The company on Thursday, announced that production at both sites would be stopped for the time being. No cars from among the VW Group brands, including Audi, Porsche and Skoda would be exported to Russia, it said in a statement. On Wednesday, luxury carmaker Mercedes-Benz said it was halting business with Russia. Selling to or buying from Russian companies had become far harder in the days since the Kremlin launched its invasion due to sanctions imposed by the international community. German carmakers had been particularly hard hit and the conflict had affected for example the provision of wiring harnesses from Ukraine that relayed information and electric power around a vehicle. Several car manufacturers had announced temporarily halts in production at some of their German sites in the past two days.

Giant global businesses in every sector are abandoning Russia following the invasion of Ukraine. Why it matters: In addition to condemning the invasion, the companies see an impossible environment — from worker safety … to the logistics of getting supplies ... financial and sales disruption ... and the complexity of complying with sanctions. State of play: Financial sanctions have isolated Russia from the rest of the world . Businesses operating in Russia have an increasingly limited ability to collect revenue or pay workers and suppliers. Economic sanctions, including export controls, have curtailed imports . Some workers are being moved out of Russia. Restricted airspace and travel are preventing companies from getting equipment they need to continue to operate. Between the lines: Some companies that have very little physical presence in Russia — including many in tech , retail and media — are limiting how products are used in Russia, or have pulled them. Flashback: Since the Soviet Union''s collapse three decades ago, Russia had been seen as an emerging market with long-term growth potential.

A number of the multinational establishments in the oil and gas sector are looking to pack their bags from the country. Mele Kyari , the Group Managing Director of the Nigerian National Petroleum Corporation, has come out to explain why oil companies of foreign origin are ceasing to operate in the country any further. Companies such as Royal Dutch Shell have closed and reports have recently surfaced of Exxon Mobil, Chevron and Total Energies are looking to sell their assets off. These developments have brought a lot of uncertainty into the Nigerian oil industry which is not as vibrant as it once was. Kyari explained that the reason for these foreign oil firms leaving is because they are focusing their attention on other energy sectors especially those that have to deal with reducing carbon emissions to net-zero levels. “Companies are divesting. They are leaving our country. That is the best way to put it," Kyari said. "They are not leaving because opportunities are not here but because companies are shifting their portfolios where they can add value and not just that, but where they can also add to the journey towards carbon net-zero commitment.” With increasing levels of climate change which is a threat to the environment, countries across the world are coming together to reduce the level of carbon and other greenhouse gases into the atmosphere.