Exxon Mobil

California sues Exxon over global plastic pollution, firm defends recycling

The investigation mirrors California's previous probes into the oil industry's alleged efforts to mislead the public about climate change, which the state is also suing over

US approves Exxon-Pioneer deal, alleges shale founder colluded with Opec

Former Pioneer CEO Scott Sheffield coordinated efforts with U.S. shale oil producers to constrain their output and raise energy prices, the Federal Trade Commission said

Exxon Mobil's market value surpasses Tesla's as oil rises, EV sales slow

Tesla fell 1.9 per cent to $147.05 a share on Friday, making it the second-worst performing stock in the S&P 500 Index this year

Global corporate dividends hit record $1.66 trn in 2023 amid bank payouts

The world's biggest dividend payers in 2023 were Microsoft , followed by Apple and Exxon Mobil

Exxon Mobil beats estimates, ends 2023 with a $36 billion profit

Profits from oil majors have been down in 2023 by about a third from record levels in 2022, pressured as oil and gas prices retreated after spiking when Russia invaded Ukraine

Exxon Mobil drilling for lithium in Arkansas, to begin production by 2027

Exxon Mobil on Monday announced it's drilling for lithium in southern Arkansas, with the oil giant expected to begin production of the critical material for electric vehicles by 2027. Exxon in early 2023 acquired the rights to 120000 gross acres (48562 gross hectares) of the Smackover formation in southern Arkansas, considered one of the most prolific lithium resources of its type in North America. Exxon said that by 2030 it aims to produce enough lithium to supply the manufacturing needs more than 1 million electric vehicles. "Lithium is essential to the energy transition, and ExxonMobil has a leading role to play in paving the way for electrification," Dan Ammann, president of ExxonMobil Low Carbon Solutions, said in a news release. Exxon didn't disclose how much it's spending on the project, which is expected to be a boost for a part of Arkansas that has a history as an oil and gas producer. "I'm not being dramatic when I say this has the potential to transform our state," Arkan

Exxon posts sharply lower $9.1 bn profit on lower oil, gas prices

Exxon's oil and gas pumping business was hurt by a 60% drop in natural gas prices compared with a year ago

Exxon to buy Pioneer Natural in $60 bn deal with energy prices surging

Exxon Mobil is buying Pioneer Natural Resources in an all-stock deal valued at USD 59.5 billion, its largest buyout since acquiring Mobil two decades ago, creating a colossal fracking operator in West Texas. The transaction's value, including debt, is about USD 64.5 billion. Pioneer shareholders will receive 2.3234 shares of Exxon Mobil for each Pioneer share they own. Exxon purchased XTO Energy in 2009 for approximately USD 36 billion. In the late 1990s, the merger between Exxon and Mobil totalled more than USD 80 billion. The deal with Pioneer Natural gives Exxon Mobil more access to the Permian basin, which runs through parts of Texas and New Mexico. Exxon has been flush with cash. The company posted record annual profits in 2022, bringing in USD 55.7 billion in annual profits, exceeding its previous record of USD 45.22 billion in 2008. Exxon has been using some of that cash on acquisitions. In July the company announced that it was buying pipeline operator Denbury in an all-s

Exxon Mobil nears $60 bn acquisition of shale driller Pioneer Natural

The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998

Exxon Mobil experiments with extraction of lithium from subsurface brine

Exxon is looking at how to utilize its expertise in fracking of oil and gas from shale rock, which involves the use of large volumes of water

BP logs 70% dip in second-quarter net profit, raises dividend by 10%

BP's net income, missed expectations of $3.5 billion

$58 bn investment in E&P; Chevron, Exxon, Total keen on India: Hardeep Puri

Global energy majors Chevron Corp, Exxon Mobil Corp and TotalEnergies are interested in investing in India's oil, gas exploration and production sector, said India's oil minister, Hardeep Singh Puri

Exxon sues European Union in bid to block new windfall tax on oil groups

Argues that Brussels exceeded its legal authority by imposing the levy

Exxon Mobil, Chevron reap over $31 billion profit from energy crunch

Exxon's stock rose 2.6 per cent at 9:33 am in New York. Chevron advanced 2.7 per cent

Oil giant Exxon Mobil rakes in profit of $19.66 bn in Q3; revenue doubles

Exxon Mobil broke records again with its profits in the third quarter, raking in USD 19.66 billion in net income. The Irving, Texas company said on Friday that it booked USD 112.07 billion in revenue during the quarter, more than double revenue last year during the same period. Americans have struggled with painfully high gasoline prices in recent months, paying more than USD 4.80 on average for a gallon of regular at the beginning of July. Prices eased somewhat towards the end of the quarter, but customers were still paying more than USD 3.79 a gallon of regular, on average, in late September. Our strong third-quarter results reflect the hard work of our people to invest in and build businesses critical to meeting the demand we see today, said CEO Darren Woods, in a statement. We all understand how important our role is in producing the energy and products the world needs, and third-quarter results reflect our commitment to that objective. Natural gas prices have also been high, .

ONGC inks agreement with ExxonMobil for deepwater exploration in India

The collaboration areas focus on the Krishna Godavari and Cauvery Basins in the eastern offshore and the Kutch-Mumbai region in the western offshore

ExxonMobil and Chevron shatter profit records in second quarter

The US pair, along with UK-based Shell and France's TotalEnergies, combined to earn nearly $51 billion in the most recent quarter, almost double what the group brought in for the year-ago period

Exxon profits surge despite $3.4B hit after exit from Russia over war

The oil giant took a huge hit as it abandoned its Russian operations due to the war, writing down USD 3.4 billion

Boeing, Exxon, Apple join Western firms spurning Russia over Ukraine

Ford suspends operations in Russia; Apple stops iPhone sales in Russian market

Exxon Mobil faces stark choice after rivals BP, Shell abandon Russia

The moves by BP and Shell leaves Exxon and TotalEnergies SE as the only remaining supermajors with significant drilling operations in Russia.