Exxon Stock News

Recently, ExxonMobil, (NYSE:XOM), and Chevron, (NYSE:CVX) announced their intention to sharply ramp up production in their shale output by about 25% this year. The companies both have a large production base already with XOM having added about 85K BOEPD to their 460K BOEPD total in 2021. CVX is a little behind XOM with around 300K BOEPD, and plans similar growth of about 25% in 2022. If this comes to fruition, it will add another 180-200K BOEPD to the increase in U.S. shale output that the Energy Information Agency-EIA, projects will rise by ~800K

The former British colony of Guyana, one of South Americas poorest nations, is undergoing a major economic transformation driven by a massive oil boom. ExxonMobils 2015 discovery of crude oil has been a game-changer for a deeply impoverished Guyana that was severely impacted by the COVID-19 pandemic. The U.S. energy supermajor, after making a slew of quality oil discoveries, is investing heavily in offshore Guyana commencing petroleum production during 2019 from the Stabroek Block. That has been a boon for the former British colonys

ExxonMobil and LyondellBasell have joined forces with the largest recycling facility in Texas and the city of Houston to increase used plastic collection rates, increasing available supply for both chemical and mechanical recyclers, a top ExxonMobil executive said. "There''s a lot of room for improvement, a lot of plastic in the Houston area," said Dave Andrew, vice president of new…

Includes $125 million investment in Global Clean Energy Holdings, and option for ExxonMobil to acquire 25% equity stake Accelerates nonfood-based camelina cultivation in key growing regions in the United States Progresses efforts to help reduce greenhouse gas emissions in the transportation sector Global Clean Energy Holdings, Inc. (OTCQX: GCEH ) is advancing its renewable diesel production through an agreement with ExxonMobil , which will invest $125 million with an option to acquire up to a 25% equity stake in the company. The investment, outlined in filings with the U.S. Securities and Exchange Commission, will help Global Clean Energy grow its proprietary camelina business in key farming regions in the United States and accelerate expansion into Europe and South America. "This strategic investment by ExxonMobil is transformational for GCE and will enable the rapid expansion of our proprietary camelina business. It also demonstrates the long-term commitment of both organizations to develop ultra-low carbon, nonfood-based feedstocks and advanced biofuels," said Richard Palmer, CEO of Global Clean Energy Holdings. "Throughout our four years working together, ExxonMobil has actively supported our feedstock deployment efforts in multiple U.S. growth regions." GCE''s Sustainable Oils subsidiary is the leading global producer of camelina, a fast-growing, nonfood oilseed crop planted during fallow rotations by …

The London based BP oil company has seen its profits surge to the highest in almost a decade, thanks to rising crude and gas prices. Per Second News reports that BP boosted share buybacks and followed Shell, Exxon Mobil and Chevron in pouring money back to investors after years of paltry returns. BP will repurchase another $1.5 billion (£1.1 billion) of shares using surplus 2021 cash flow before it announces first-quarter results later this year. Chief executive Bernard Looney said BP had strengthened the balance sheet and grown returns and had made strong progress in our transformation to an integrated energy company. Bernard Looney Adjusted net income was $4.07 billion (£3 billion) for the period, up from $115 million (£85 million) a year earlier and beating the average analyst estimate of $3.87 billion (£2.86 billion). Operating cash flow was $6.12 billion (£4.53 billion), compared with $2.27 billion (£1.68 billion) a year earlier. The company reported a significantly lower oil trading result and an average contribution from gas marketing and trading and the impact of higher energy costs. The results leave little doubt about the massive gains BP has made since the start of the Covid-19 pandemic.

The latest financial books of the worlds largest oil and gas companies have sweetened shareholder returns and further reassured investors of a more stable footing two years after Covid-19 first shook the oil market. Global oil demand roared back in 2021, with gasoline and diesel use surging as consumers resumed travel and business activities amid the coronavirus pandemic, a dramatic shift from 2020 when the oil and gas industry endured a dreadful 12 months. With global Brent crude averaging $71 per barrel ($71/b) in 2021, oil majors were able to maximise value from their fossil fuels operations and further boost investors confidence that their business model is well strengthened to fund other activities aligned with Paris Agreement targets. Shell The British oil major posted adjusted earnings of $19.29 billion for the full-year 2021. That compared with a profit of $4.85 billion the previous year. Analysts polled by Refinitiv had expected full-year 2021 net profit to come in at $17.8 billion.

Medan, Indonesia John Doe can still recall the moment his alleged torturers made him believe he would never see his family again. It was in 2000 in Aceh Province, Indonesia, following his alleged capture by members of the Indonesian military working at the nearby ExxonMobil gas plant. They tied me up in a crucifix

Villagers allege the gas and oil giant is responsible for a litany of human rights abuses in the early 2000s.

Exxon Mobil Corporation has asked the Court of Appeal, Lagos, to upturn the decision of the National Industrial Court (NIC), which refused to stay its proceedings in a suit filed by one Mr. Paul Arinze The post Firm appeals ruling over jurisdiction appeared first on The Guardian Nigeria News - Nigeria and World News .

InvestorPlace - Stock Market News, Stock Advice & Trading Tips As Exxon Mobil slashes its debt and ramps up its cash flow, sensible dividend investors can employ a buy-and-hold strategy with XOM stock. The post Rally in Exxon Mobil Stock Doesnt Mean Its Not a Great Value appeared first on InvestorPlace . More From InvestorPlace Stock Prodigy Who Found NIO at $2 Says Buy THIS Now Man Who Called Black Monday: Prepare Now. #1 EV Stock Still Flying Under the Radar Interested in Crypto? Read This First

In 1977, an internal memo at Exxon, the United States oil giant, made clear that carbon emissions from its product were causing climate change. But not only that – time was running out to act. “CO2 release most likely source of inadvertent climate modification,” said the shorthand document. “5-10 yr time window to get necessary …

A whale with a lot of money to spend has taken a noticeably bearish stance on Exxon Mobil . Looking at options history for Exxon Mobil (NYSE: XOM ) we detected 30 strange trades. If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish. From the overall spotted trades, 6 are puts, for a total amount of $185,070 and 24, calls, for a total amount of $1,190,768. What''s The Price Target? Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $52.5 to $95.0 for Exxon Mobil Full story available on Benzinga.com

Large fossil-fuel companies including Exxon and Occidental Petroleum are touting carbon capture as a part of their future plans to reduce emissionsand lobbying Congress to increase a tax credit to make the projects more economically sustainable.