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Exxon Mobil Corporation

Exxon Mobil Corporation

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317 stories mentioning Exxon Mobil CorporationUpdated 1d ago

Exxon featured as Australia's Woodside dismissed media speculation it intended to acquire the firm, while energy shares moved on US-Iran peace news.

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Wire

Update: Market Chatter: White House Looking to Expand US Oil Refining Capacity

(Updates with White House comment in the last paragraph.)The White House is mulling ways it can use the Defense Production Act to expand US oil refining capacity, Reuters reported Friday, citing two sources familiar with the plans.The suggestion to use the act occurred in a recent meeting between President Donald Trump and nearly a dozen US refiners, the report said.No final decisions were made, and participants expect conversations to continue, the report said."America's refining capacity is essential to ensuring the United States has continuous access to secure, affordable, and reliable energy," White House spokeswoman Taylor Rogers said in an email to. "Expanding that capacity is a top priority for the President and his energy team, who are evaluating concrete options to increase our refining capacity through regulatory reform, faster permitting, and additional investment."(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $165.11, Change: $-0.12, Percent Change: -0.07%

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Wire

Market Chatter: White House Looking to Expand US Oil Refining Capacity via Defense Production Act

The White House is mulling ways it can use the Defense Production Act to expand US oil refining capacity, Reuters reported Friday, citing two sources familiar with the plans.The suggestion to use the act occurred in a recent meeting between President Donald Trump and nearly a dozen US refiners, the report said, citing the sources, who added that no final decisions were made and that participants expected conversations to continue.The White House didn't immediately reply to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $165.36, Change: $+0.13, Percent Change: +0.08%

$MPC$PSX$VLO$XOM
Wire

White House Looking to Expand US Oil Refining Capacity Via Defense Production Act, Reuters Reports

White House Looking to Expand US Oil Refining Capacity Via Defense Production Act, Reuters Reports

$MPC$PSX$VLO$XOM
Oil & Energy

Market Chatter: Vancouver-China Aframax Freight Rates Reach Record High on Firm Demand

Aframax tanker Vancouver-China freight rates hit an all-time high Thursday amid tightening vessel supply and firm demand, while competing trade economics improved in Asia and the Arab Gulf, S&P Global reported, citing shipbrokers.The Vancouver-China Aframax rate stabilized near $3.1 million through August and early September. However, shipowner Centrofin secured a $7.5 million trans-Pacific run from ExxonMobil (XOM) after the charterer entered the market late for an end-September cargo. The rate reached its highest level since Platts began publishing the benchmark in October 2024.Six transatlantic fixtures emerged from the US Gulf Coast Thursday, with rates climbing through the day. Eni (E), Sinochem, Equinor (EQNR), and BP (BP) all booked cargoes, each at a higher rate than the last.The gains come amid a fresh escalation between the US and Iran, with US forces striking Iranian tankers this week and Iran claiming retaliation against vessels in the Gulf.ExxonMobil, Eni, Sinochem, Equinor and BP did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $164.80, Change: $-0.44, Percent Change: -0.26%

$BP$E$EQNR$XOM
Asia Markets

Update: US Equity Futures Lower Pre-Bell Thursday as Traders Assess Inflation Data Amid Higher Oil Prices

(Updates with economic data, recent oil price movement, world markets' overview and corporate stock movements.)US equity futures were edging lower pre-bell Thursday as traders assessed the first of two key inflation reports this week and observed oil prices continuing to ascend, with Brent crude futures exceeding $105 per barrel.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 1% lower.President Donald Trump said that he expects the war with Iran to end after the November US midterm elections, according to media reports. He told reporters Wednesday that Iran was trying to influence the elections.Traders digested the latest round of earnings, with Macy's (M) posting higher fiscal Q2 adjusted earnings and revenue.Oracle (ORCL) is expected to report its fiscal Q1 earnings after the market closes. Analysts polled by FactSet expect earnings of $1.74 per share on revenue of $19.14 billion.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 4.4% at $105.67 per barrel and US West Texas Intermediate crude 4.8% higher at $100.66 per barrel.The US Producer Price Index, a measure of wholesale inflation released at 8:30 am ET, rose 0.4% in August as expected in a survey compiled by Bloomberg, and following a 0.1% gain in July. The consumer price index follows on Friday.Initial jobless claims fell to 206,000 in the week ended Sept. 5 from 207,000 in the previous week, compared with expectations for a drop to 205,000.The existing home sales report, scheduled for release at 10 am ET, is expected to show a decrease of 1.7% for August after a 1.7% drop in the prior month.In other world markets, Japan's Nikkei closed 0.2% higher, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.4% lower. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.2% lower in Europe's early afternoon session.In equities, Macy's stock fell 4% after the company reported its fiscal Q2 financial results. HSBC (HSBC) shares dropped 1.9% after the company said that Pam Kaur plans to step down as chief financial officer and executive director next year. UBS (UBS) stock was down 1.8% after a Reuters report that the company plans to cease its fund sales unit in China at the end of September.On the winning side, Exxon Mobil (XOM) and ConocoPhillips (COP) shares were up 1.9% and 2.3%, respectively, as part of a broader upswing in energy-related stocks.

Dow JonesNasdaq CompositeS&P 500$COP$HSBC$M$ORCL$UBS$XOM
Oil & Energy

Kazakhstan Suspends NCOC Enforcement Proceedings as Court Reviews Appeal

Kazakhstan has temporarily halted enforcement proceedings against Kashagan operator North Caspian Operating Company, or NCOC, as part of standard procedure while a court reviews its appeal, the Justice Ministry said Wednesday.Enforcement proceedings against NCOC were suspended after a court requested the case materials, but the ministry said Kazakhstan will continue efforts to recover funds for the state."...The work to recover funds from NCOC in favor of the state will continue in accordance with the procedure established by law," the ministry said.NCOC, a joint venture of Shell (SHEL), TotalEnergies (TTE), ExxonMobil (XOM) and China's CNPC, faces a long-running dispute with Kazakhstan over alleged environmental violations tied to sulfur storage, according to a Reuters report.The government has ordered NCOC to pay a fine of nearly $5 billion as part of the case, the report said.NCOC did not immediately reply to' request for comment.Price: $95.44, Change: $+0.12, Percent Change: +0.12%

$SHEL$TTE$XOM
Oil & Energy

Angola, Exxon Mobil, Partners Make Offshore Hydrocarbons Discovery

Angola's national agency for oil, gas and biofuels has announced that together with partners Exxon Mobil Angola (XOM) and others working on development in its Block 15, they had found a hydrocarbons in the Vicango Este-01 exploratory well, it said in a statement.Sited about 370 kilometers offshore to the northeast, the well was drilled to a depth of 940 meters by the Valaris DS-9 platform. It found an area about 25 meters deep containing hydrocarbons, marking the 20th such discovery in the block in the last three decades. The agency said there was potential for more finds.Block 15 is operated by Exxon Mobil affiliate Esso Exploration Angola, which has a 36% stake. Other owners are Azule Angola Limited with 24%, Azule Angola BV with 18%, Equinor's (EQNR) unit in Angola with 12% and Sonangol E&P with 10%.Price: $164.51, Change: $+3.80, Percent Change: +2.36%

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Wire

ExxonMobil's Pioneer Natural Resources Launches Cash Tender Offers for 2030 and 2031 Senior Notes

ExxonMobil's (XOM) wholly owned Pioneer Natural Resources subsidiary launched cash tender offers for any and all of its outstanding $1.10 billion of 1.90% senior notes due 2030 and $1 billion of 2.15% senior notes due 2031, according to a Tuesday statement.Notes purchased under the offers will be cancelled, the company said. The offers are not conditional upon any minimum amount of notes being tendered and are set to expire on Sept. 14, the company added.Price: $162.62, Change: $+3.16, Percent Change: +1.98%

$XOM
Equities

TotalEnergies Advances Papua LNG Toward Final Investment Decision

TotalEnergies (TTE) said Monday that Papua LNG has reached key contractual and commercial milestones, advancing the project toward a final investment decision.The EPC tendering process is complete, with contract award recommendations awaiting co-venturer approval, while design optimization and package rebidding have cut project capital expenditure to around $14 billion, generating close to $4 billion in savings since 2024, the company said.The gas agreement with Papua New Guinea has been finalized, while a new LNG marketing JV will commercialize 2.4 million tonnes per annum of Papua LNG's 5.6 million tonnes of total production.Following the farm-down and PNG's exercise of its back-in right, TotalEnergies will retain a 20% stake in Papua LNG, with ExxonMobil (XOM) holding 34.1% and serving as operator, it added.TotalEnergies and ExxonMobil shares were up more than 2% and 1% respectively in premarket activity Tuesday.

$TTE$XOM
Commodities

Update: TotalEnergies Approaches FID Stage on Papua New Guinea LNG

(Updates with Santos' deal to buy further stake in project in the fifth paragraph.)France's TotalEnergies (TTE) has reached some contractual and commercial milestones on a Papua New Guinea liquefied natural gas project, taking it closer to final investment decision, the company said in a statement on Monday.It said an engineering, procurement and construction tendering process had been completed and recommendations submitted to co-investors for approval. The company said $4 billion in savings had been made since 2024 by altering the project design.These include an alternative upstream condensate scheme and rebidding EPC packages to include more Asian contractors, lowering the expected capital cost to about $14 billion.The decision was also taken to make Exxon Mobil (XOM) the project operator and for TotalEnergies to transfer 9.1% of its stake in the project to its Papua LNG partners, leaving Total with a 20% stake in the project but with no change to its LNG offtake share of 1.5 million tons per annum.Fellow stakeholder Australia's Santos will buy an additional 3.3% stake in the project from Total for $189 million, it said in a separate statement, conditional on obtaining regulatory approval and on a final investment decision being taken. Santos will then own a 21% stake in the project, it said.An LNG marketing joint venture has been established between TotalEnergies and the Papua New Guinea government entities, represented by Kumul Petroleum Holdings. They will jointly commercialize 2.4 Mtpa of LNG, just under half the project's annual output of 5.6 million Mtpa.Exxon Mobil will hold a 34.1% stake in the project upon completion of Total's farm-down.

$TTE$XOM
Commodities

TotalEnergies Approaches FID Stage on Papua New Guinea LNG

France's TotalEnergies (TTE) has reached some contractual and commercial milestones on a Papua New Guinea liquefied natural gas project, taking it closer to final investment decision, the company said in a statement on Monday.It said an engineering, procurement and construction tendering process had been completed and recommendations submitted to co-investors for approval. The company said $4 billion in savings had been made since 2024 by altering the project design.These include an alternative upstream condensate scheme and rebidding EPC packages to include more Asian contractors, lowering the expected capital cost to about $14 billion.The decision was also taken to make Exxon Mobil (XOM) the project operator and for TotalEnergies to transfer 9.1% of its stake in the project to its Papua LNG partners, leaving Total with a 20% stake in the project but with no change to its LNG offtake share of 1.5 million tons per annum.An LNG marketing joint venture has been established between TotalEnergies and the Papua New Guinea government entities, represented by Kumul Petroleum Holdings. They will jointly commercialize 2.4 Mtpa of LNG, just under half the project's annual output of 5.6 million Mtpa.Exxon Mobil will hold a 34.1% stake in the project upon completion of Total's farm-down.

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Commodities

US LNG Exports Surge as Battery Storage Faces Regulatory Hurdles, RBC Says

US natural gas exports are accelerating at the fastest pace in a decade, supported by expanding domestic infrastructure and global supply disruptions, even as the country's booming clean energy sector braces for regulatory turbulence, RBC Capital Markets strategists said in a Thursday note.RBC analysts said that LNG feedgas demand has averaged 19.3 billion cubic feet per day over the past five days, above its 30-day moving average of 18.2 Bcf/d, as renewed strikes in the Strait of Hormuz keep Qatari LNG supplies largely off the market.The rebound comes as a new wave of US LNG capacity is set to strengthen the country's position as a major global gas supplier.RBC said that US LNG exports rose 23% in H1 2026 from a year earlier, their fastest rate of growth since 2016, as new terminals and expansions lifted export capacity.Golden Pass LNG, a joint venture between Exxon Mobil (XOM) and QatarEnergy, has continued an uneven ramp-up that began in the spring, while the seventh and final train of the Corpus Christi Stage 3 project reached substantial completion on Aug. 28.RBC said that those developments are forecasted to bring total US LNG export capacity to about 20 Bcf/d by the end of 2026.RBC said a further 7.5 Bcf/d of export capacity is projected to come online over the following two years. The expansion is projected to support demand for US natural gas while adding to global LNG supplies as producers seek to fill gaps left by disrupted flows.Meanwhile, US grid-scale battery storage deployments reached a record of about 5 gigawatts in Q2 2026, but the sector could face near-term challenges from new restrictions targeting Chinese-linked electrical equipment.Last week, President Trump signed an executive order prohibiting certain acquisitions, imports, transfers and installations of bulk-power-system equipment linked to covered foreign entities, with China and Hong Kong among the most relevant jurisdictions.The order could affect some equipment already acquired or installed before Aug. 26, RBC analysts said, raising the prospect of delays for energy-storage projects until the government issues further guidance.The uncertainty comes as the US seeks to expand domestic battery manufacturing and reduce dependence on Chinese supply chains.RBC strategists said "near-term headaches" loom, but noted that previous investments in domestic manufacturing could allow the battery sector to continue its expansion.Price: $163.11, Change: $-1.04, Percent Change: -0.63%

$XOM
Equities

Piper Sandler Adjusts Price Target on Exxon Mobil to $185 From $158, Keeps Neutral Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $170.95, according to analysts polled by FactSet.

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Wire

Market Chatter: Venture Global Reassures Plaquemines Phase 2 LNG Buyers on Deliveries

Venture Global (VG) told customers of its Plaquemines Phase 2 LNG export plant in Louisiana that deliveries remain on schedule at previously agreed prices, Reuters reported Wednesday, citing a person familiar with the matter.In a letter to customers, Venture Global said it remains committed to starting long-term deliveries by the end of Q2 2027 despite a recent jump in global gas prices, the report said. Customers include Exxon Mobil (XOM) and Chevron (CVX), the report said.Venture Global did not immediately respond to a request for comment from.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $14.88, Change: $-0.23, Percent Change: -1.56%

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Commodities

Market Chatter: Venture Global Confirms Plaquemines Phase 2 Deliveries to Customers

US LNG developer Venture Global has informed its customers that cargo deliveries from its Plaquemines Phase 2 export plant in Louisiana will start on schedule and at previously-agreed prices, a source with direct knowledge of this told Reuters.Customers for Plaquemines Phase 2 include oil majors Exxon Mobil (XOM) and Chevron (CVX). Venture Global sent a letter to unspecified customers on Tuesday saying it remained on track to start the deliveries from Phase 2 by the end of Q2, 2027.The company has been embroiled in disputes over LNG deliveries from its first LNG plant at Calcasieu Pass in Louisiana, Reuters reported.Higher spot LNG prices can cause concern among buyers that commercial arrangements agreed before such increases might no longer be honoured, the article said.Venture Global did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)Price: $14.33, Change: $-0.79, Percent Change: -5.20%

$CVX$VG$XOM
Commodities

Market Chatter: Refineries to Maintain East Texas Output as Tropical Storm Edouard Nears

As Tropical Storm Edouard approaches the US Gulf Coast, Motiva, Exxon Mobil (XOM) and TotalEnergies (TTE) plan to maintain scheduled production at their East Texas refineries, Reuters reported Tuesday, citing people familiar with operations.Exxon Mobil's Beaumont and TotalEnergies' Port Arthur refineries sent contractors home Tuesday, while maintaining normal staffing levels among their own employees, the sources said.Motiva, Exxon Mobil and TotalEnergies did not immediately reply to' request for comment.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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Sectors

Sector Update: Energy Stocks Rise Late Afternoon

Energy stocks were higher late Tuesday afternoon, with the NYSE Energy Sector Index rising 1.7% and the State Street Energy Select Sector SPDR ETF (XLE) up 1.2%.The Philadelphia Oil Service Sector Index increased 0.4%, and the Dow Jones US Utilities Index was up 0.7%.In geopolitical news, the US military launched fresh attacks on Iran, striking Islamic Revolutionary Guard Corps targets, the US Central Command said Tuesday in a post on social media platform X. Washington is striking "Iranian targets" near the Strait of Hormuz, US President Donald Trump said Tuesday. "If the failed nation of Iran retaliates for this very justified attack, they will be hit again at a much harder and higher level," Trump said in a social media post. The latest US military actions came a day after Iran reportedly attacked US bases in Jordan and the United Arab Emirates, in retaliation for Washington striking Iranian rocket launchers on Tehran's Larak Island.Front-month West Texas Intermediate crude oil jumped 5.4% to $90.39 a barrel, and the global benchmark Brent crude contract surged nearly 5% to $94.98 a barrel. Henry Hub natural gas futures rose 0.2% to $2.94 per 1 million BTU.In corporate news, Shell's (SHEL) Equilon Enterprises has signed an agreement to increase its equity in Tri Star Energy to 100% from 33%, the company said Tuesday. With the acquisition, Shell will become the full owner of an additional 320 fuel and convenience retail sites across the southeastern US. Shell shares rose 2.2%.Comstock Resources (CRK) shares jumped 11% after the company said it entered into a letter of intent under which the State Oil Co. of the Azerbaijan Republic, or SOCAR, would acquire interests in some of its Haynesville assets for $1.65 billion in cash.Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported. Chevron shares rose 2.1%.ExxonMobil (XOM) is among several major oil companies planning to pursue business in Venezuela, multiple news outlets including Reuters reported late Monday, citing comments made by US President Donald Trump at a press event in the Oval Office. Trump said ExxonMobil and Chevron are among companies preparing to bid for projects in the Venezuelan market, while other firms are also competing, the Reuters report said. ExxonMobil shares were up 2.1%.Fervo Energy (FRVO) shares surged 28% after the company said Tuesday it has signed a 396-megawatt power purchase agreement with Alphabet's (GOOGL) Google.

$CRK$CVX$FRVO$SHEL$XOM
Sectors

Sector Update: Energy Stocks Rise Tuesday Afternoon

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) up 0.9%.The Philadelphia Oil Service Sector Index increased 0.2%, and the Dow Jones US Utilities Index was fractionally higher.In geopolitical news, the US Air Force is attacking Iranian targets located in the area around the Strait of Hormuz, Axios reporter Barak Ravid said Tuesday on X, citing US officials.Front-month West Texas Intermediate crude oil jumped 4.4% to $89.49 a barrel, and the global benchmark Brent crude contract popped 3.8% to $93.91 a barrel. Henry Hub natural gas futures fell 1.3% to $2.90 per 1 million BTU.In corporate news, Chevron (CVX) is finalizing a deal for the operating rights to two giant oil fields in Venezuela's Orinoco Belt, Bloomberg reported. Chevron shares rose 1.7%.ExxonMobil (XOM) is among several major oil companies planning to pursue business in Venezuela, multiple news outlets including Reuters reported late Monday, citing comments made by US President Donald Trump at a press event in the Oval Office. Trump said ExxonMobil and Chevron are among companies preparing to bid for projects in the Venezuelan market, while other firms are also competing, the Reuters report said. ExxonMobil shares were up 2%.Fervo Energy (FRVO) shares surged 28% after the company said Tuesday it has signed a 396-megawatt power purchase agreement with Alphabet's (GOOGL) Google.Proposed legislation by California lawmakers to address wildfire risk and increase utility accountability fails to address the financing risks that utilities face, BofA Securities said Tuesday, as it downgraded PG&E (PCG) and Edison International (EIX). BofA cut its rating on both PG&E and Edison to neutral from buy and reduced its price target to $13 from $24 for PG&E and to $51 from $81 for Edison. PG&E shares were up 1.1%, and Edison rose 3%.

$CVX$EIX$FRVO$PCG$XOM
Sectors

Sector Update: Energy Stocks Advance Premarket Tuesday

Energy stocks were advancing premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.7% higher.The United States Oil Fund (USO) was up 2.6% and the United States Natural Gas Fund (UNG) was 2.4% lower.Front-month US West Texas Intermediate crude oil was 2.9% higher at $88.22 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.5% to $92.73 per barrel, and natural gas futures were down 2.5% at $2.86 per 1 million British Thermal Units.ExxonMobil (XOM) is among several major oil companies planning to pursue business in Venezuela, multiple news outlets including Reuters reported late Monday, citing comments made by US President Donald Trump at a press event. ExxonMobil stock was up nearly 2% pre-bell.Helix Energy Solutions (HLX) and Hornbeck Offshore Services have completed their combination in an all-stock transaction, the companies said. Helix Energy Solutions shares were 0.6% lower premarket.

$HLX$UNG$USO$XLE$XOM
Sectors

Sector Update: Energy

Energy stocks were advancing premarket Tuesday, with the State Street Energy Select Sector SPDR ETF (XLE) 1.4% higher.The United States Oil Fund (USO) was up 2.6% and the United States Natural Gas Fund (UNG) was 2.3% lower.Front-month US West Texas Intermediate crude oil was 2.7% higher at $88.04 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.3% to $92.56 per barrel, and natural gas futures were down 2.2% at $2.87 per 1 million British Thermal Units.ExxonMobil (XOM) is among several major oil companies planning to pursue business in Venezuela, multiple news outlets including Reuters reported late, citing comments made by US President Donald Trump at a press event. ExxonMobil stock was up more than 1% pre-bell.

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