Exxon Stock News

Exxon Mobil Corp''s decision to exit Russia has put India''s flagship overseas firm ONGC Videsh in a fix as it is a partner in the global energy giant-operated Sakhalin-1 oil fields in Far East Russia

Savings and structural changes should help the oil major juice up earnings and cash flows as crude prices are at their highest levels since 2013.

Non-associated gas from the Chayvo field is planned to be sent by a new pipeline to a 6.2 million tonnes per annum liquefaction facility to be built at the port of De Kastri on the Russian mainland.

New Delhi, Mar 2 (PTI) Exxon Mobil Corp’s decision to exit Russia has put India’s flagship overseas firm ONGC Videsh in a fix as it is a partner in the global energy giant-operated Sakhalin-1 oil fields in Far East Russia, sources said. ONGC Videsh Ltd (OVL) and three other state-owned Indian firms hold 49.9 per […]

Exxon Mobil Corp. said at its annual investor day that it plans capital investments of $21 billion to $24 billion in 2022, and $20 billion to $25 billion a year through 2027. The oil and gas giant said the investments will be directed toward "low-cost-of-supply" upstream projects in "unconventional, deepwater and LNG [liquid natural gas]," as well as other high-value products. The company said those plans include spending $15 billion over the next six years to reduce greenhouse gas emissions, and for investments in lower-emission business opportunities. Exxon Mobil added that it plans annual structural reductions of $9 billion a year by 2023, which the company expects will allow it to double earnings and cash flow potential by 2027 versus 2019, and reduce breakeven costs by about $10 per barrel. The stock rose 1.7% in premarket trading as crude oil futures jumped 5.4%. Over the past three months, Exxon''s stock has run up 29.2%, while crude futures have soared 64.4% and the S&P 500 has lost 5.9%.

Exxon Mobil Corp. undefined said at its annual investor day that it plans capital investments of $21 billion to $24 billion in 2022, and $20 billion to $25…

There’s a growing chorus of Western companies openly condemning Russian actions in Ukraine as sanctions have hammered the country’s ruble and forced the central bank to raise interest rates

The moves in diverse industries follow earlier announcements by Disney, Ford, Mastercard and others, and highlight the rising economic toll on Russia after its assault on Ukraine unleashed massive sanctions across Western governments Read more

https://www.investing.com/news/stock-market-news/exxon-focuses-on-returns-emissions-cuts-ahead-of-investor-day-2776003

US tech giant Apple says it has stopped sales of iPhones and other products in Russia

IRVING, Texas – ExxonMobil today detailed plans at its annual Investor Day to deliver industry-leading earnings, cash flow growth and shareholder returns, and lead in the energy transition across a range of lower-emissions scenarios.

Seplat Energy Plc on February 25 announced an agreement to acquire the entire share capital of Mobil Producing Nigeria Unlimited (MPNU), a subsidiary of ExxonMobil. In its recent insight, Wood Mackenzie, a trusted intelligence provider that empowers decision-makers with unique insights on the world’s natural resources said in the energy transition era, both ExxonMobil and […]

Exxon Mobil (Exxon) has followed in BP and Shell''s footsteps, and has announced it will exit its Russian assets valued at more than $4bn.

U.S. oil giant, ExxonMobil to withdraw from Russia over Ukraine invasion. U.S. oil giant, ExxonMobil, says it will discontinue its current operations in Russia over the country’s invasion of Ukraine. “We deplore Russia’s military action that violates the territorial integrity of Ukraine and endangers its people,” ExxonMobil said in a statement. “We are deeply saddened by the loss of innocent lives and support the strong international response. “ We are fully complying with all sanctions. “ExxonMobil supports the people of Ukraine as they seek to defend their freedom and determine their own future as a nation,” the statement stated. The U.S. concern operates the Sakhalin-1 gas project on behalf of an international consortium of Japanese, Indian and Russian companies. “In response to recent events, we are beginning the process to discontinue operations and developing steps to exit the Sakhalin-1 venture,” the statement added. ExxonMobil has been in Russia for decades and holds 30 per cent of the Sakhalin-1 project.

In a matter of days, the top energy producers have set out plans to exit Russian investments at a likely cost of tens of billions of dollars.