Exxon Oil Deal
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
 "Exxon Mobil's market value surpasses Tesla's as oil rises, EV sales slow")
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 to buy Pioneer Natural in $60 bn deal with energy prices surging")
Exxon aims to sell $25 billion of assets to focus on mega-projects: Report
The sell-off would be a marked acceleration of the US oil major's previous divestment plans.
 "Exxon aims to sell $25 billion of assets to focus on mega-projects: Report")
India strikes a better deal on LNG price with Exxon: Dharmendra Pradhan
The Gorgon gas prices are now linked to about 13-13.5% of the global oil price on a delivered basis
 "India strikes a better deal on LNG price with Exxon: Dharmendra Pradhan")
