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Exxon Mobil Corporation

Exxon Mobil Corporation

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NYSEEnergy

135 stories mentioning Exxon Mobil CorporationUpdated 37m 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.

Sectors

Sector Update: Energy

Energy stocks were lower Thursday afternoon, with the NYSE Energy Sector Index decreasing 0.6% and the State Street Energy Select Sector SPDR ETF (XLE) falling 1%.The Philadelphia Oil Service Sector Index was dropping 1.8%, and the Dow Jones US Utilities Index was adding 0.8%.Front-month West Texas Intermediate crude oil was declining 0.8% to $107.77 a barrel, and the global benchmark Brent crude contract was decreasing 0.3% to $104.70 a barrel. Henry Hub natural gas futures rose 0.5% to $3.02 per 1 million BTU.In corporate news, ExxonMobil (XOM) has signed a memorandum of understanding with QatarEnergy and the Egyptian government to explore the potential development and commercialization of gas discoveries in Cyprus through Egypt's existing gas and liquefied natural gas export infrastructure, QatarEnergy said Thursday. Exxon shares were down 1%.

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Oil & Energy

Egypt Expands Regional Gas Hub Push in QatarEnergy, ExxonMobil Cyprus Deal

QatarEnergy signed a memorandum of understanding with Egypt and ExxonMobil (XOM) to advance the potential commercialization of gas discoveries in Cyprus through Egypt's gas and LNG export network, it said Thursday.The agreement allows the parties to assess future gas development opportunities and build flexible commercial structures linked to Egypt's existing export and domestic gas infrastructure, QatarEnergy said.The agreement supports closer cooperation on natural gas between Egypt and Cyprus, improves the use of existing infrastructure, and reinforces Egypt's role as a potential Eastern Mediterranean gas hub.QatarEnergy Chief Executive Saad Sherida Al-Kaabi said the agreement marks a key step toward unlocking long-term natural gas potential across the Eastern Mediterranean region."We look forward to working closely with the Government of Egypt and our strategic partner ExxonMobil to achieve the objectives of this MoU for the benefit of all parties," Al-Kaabi said.The companies aim to develop integrated and commercially sustainable energy solutions that can support rising regional gas demand and improve links between regional and international markets, according to QatarEnergy.QatarEnergy said the agreement could strengthen broader regional cooperation and help diversify gas supplies across multiple international markets through stronger infrastructure integration.Price: $157.07, Change: $+0.79, Percent Change: +0.51%

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Wire

ExxonMobil Signs MoU With QatarEnergy to Explore Gas Cooperation With Egypt, Cyprus

ExxonMobil (XOM) has signed a memorandum of understanding with QatarEnergy and the Egyptian government to explore the potential development and commercialization of gas discoveries in Cyprus through Egypt's existing gas and liquefied natural gas export infrastructure, QatarEnergy said Thursday.Under the memorandum, the three parties aim to study opportunities and commercial frameworks for deeper integration between Egypt and Cyprus in the natural gas sector, according to a statement.Price: $159.10, Change: $+2.80, Percent Change: +1.79%

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Equities

Weatherford Wins Deepwater Completions Contract From ExxonMobil Unit Offshore Nigeria

Weatherford International (WFRD) said Thursday it has secured a deepwater integrated completions contract from ExxonMobil (XOM) affiliate Esso Exploration & Production Nigeria for offshore operations in Nigeria.Under the contract, Weatherford said it will provide integrated upper and lower completions solutions for deepwater wells, with a focus on improving safety, well integrity, operational reliability and efficiency throughout the lifecycle of the wells.Weatherford said the completion equipment will be configured through its global supply chain and supported locally in Nigeria to enable in-country execution and service delivery.Financial terms of the contract were not disclosed.

$WFRD$XOM
Oil & Energy

Market Chatter: Nigeria Oil Output Hits 1.6 Million b/d as Producers Boost Drilling

Nigerian oil producers are accelerating drilling plans as the Iran conflict and disruptions to the Strait of Hormuz push crude prices above $100 per barrel, Bloomberg reported on Wednesday.Independent producers pumping below 50,000 barrels per day are accelerating spending after buying oil assets divested by international companies over the past several years, the analysis said.Former Exxon Mobil (XOM) manager Wisdom Enang said smaller operators could increase combined production by 200,000 b/d to 300,000 b/d before year-end as tighter global supply boosts demand for Nigerian crude.Nigeria lifted oil production to 1.6 million b/d in April, marking the country's biggest monthly increase in almost three years, according to the report.President Bola Tinubu has pushed reforms to attract investment into the oil sector through tax incentives, quicker contract approvals and management changes at the national oil company.Oando Energy Resources plans to drill additional wells and raise output 30% to 42,500 b/d by year-end after acquiring Eni assets in 2024, Chief Executive Officer Wale Tinubu told Bloomberg.Tinubu added that the company is accelerating a five-year strategy to double production and benefit from supply shortages created by the Middle East conflict.Petralon Energy advanced plans for a third well after crude prices moved well above its $65/bbl base-case forecast shortly after the company drilled a second well.Petralon Chief Executive Officer Ahonsi Unuigbe said additional drilling should increase the company's production 56% to 7,500 b/d before year-end.Pan Ocean Oil and Newcross Companies, which jointly produce 48,000 b/d, restarted two wells after the conflict began and are using higher revenue to fund expansion projects and reduce debt.(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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Asia Markets

US Equity Futures Edge Higher Pre-Bell Amid Chip Sector Gains as Traders Await Nvidia Earnings

US equity futures were edging higher pre-bell Wednesday as traders anticipated Nvidia's (NVDA) fiscal Q1 financial results, expected after the closing bell, amid share gains in the broader chip sector.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.Investors look forward to Nvidia's earnings for key information on trends in artificial intelligence and the demand for chips. The company's stock was up 1.6% in premarket activity.Traders digested the latest round of earnings, with Analog Devices (ADI) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.9% at $107.67 per barrel and US West Texas Intermediate crude 3.3% lower at $100.96 per barrel.The Atlanta Fed Business Inflation Expectations survey for May is scheduled for release at 10 am ET. The Federal Reserve will release the minutes of its most recent policy meeting at 2 pm.Fed Governor Michael Barr is slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 1.2% lower, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, gains of major chip firms AMD (AMD), Micron Technology (MU), and Intel (INTC) helped propel the wider semiconductor sector. AMD stock was up 2.4%, Micron shares rose 3.8%, and Intel stock was up 4.8%.On the losing side, Lowe's (LOW) stock was down 1.2% despite reporting higher fiscal Q1 adjusted earnings and sales. Energy firms Exxon Mobil (XOM), BP (BP), and Equinor (EQNR) saw their stocks drop as oil prices declined. Exxon Mobil shares were down 0.9%, BP stock fell 1.1%, and Equinor shares were down 1.6%.

Dow JonesNasdaq CompositeS&P 500$ADI$AMD$BP$EQNR$INTC$LOW$MU$NVDA$XOM
Commodities

US LNG Feedgas Drops to 16-Week Low, Reuters Analysis Shows

US LNG feedgas flows sank to their lowest level since late January, hitting 15.1 billion cubic feet per day on Tuesday due to spring maintenance turnarounds at several export terminals, Reuters reported, citing LSEG data.The sharp contraction comes despite a partial operational rebound at the QatarEnergy and Exxon Mobil (XOM) led Golden Pass terminal in Texas, which saw daily feedgas flows recover to roughly 0.3 bcfd after taking in virtually zero supply for six consecutive days following its maiden cargo export in late April, the analysis noted.Monthly average gas flows to US liquefaction plants have retreated to 16.9 bcfd so far in May, down significantly from the historic monthly record high of 18.8 bcfd established in April, it added.Sustained supply disruptions linked to the war in Ukraine and ongoing geopolitical conflicts involving Israel and Iran have kept global gas benchmarks highly sensitive to any shifts in US export velocity, leaving international buyers closely monitoring the conclusion of these seasonal maintenance cycles.

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Equities

Bernstein Adjusts Price Target on Exxon Mobil to $182 From $195, Maintains Outperform Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $168.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Commodities

Glenfarne Secures ConocoPhillips Supply Deal for Alaska LNG

Glenfarne Alaska LNG and ConocoPhillips (COP) Alaska signed a gas sales precedent agreement to supply natural gas produced on Alaska's North Slope to phase one of the upcoming Alaska LNG Project, marking another step toward a final investment decision on the long-delayed development.According to the company statement on Monday, with this 30-year agreement, it has now secured enough precedent agreements to support phase one of the project.The company noted that it now had agreements with all three major producers in Alaska's North Slope, including Exxon Mobil (XOM), Hilcorp Alaska and Pantheon Resources.The project is being developed in two distinct, financially independent phases, with phase one comprising a 739-mile, 42-inch pipeline to deliver gas to consumers in Alaska, aiming to address looming supply shortages in the region."Today's milestone agreement establishes the commercial terms for ConocoPhillips to supply gas and help Phase One of Alaska LNG provide energy security for Alaska," Glenfarne Alaska LNG President Adam Prestidge said.

$COP$PANR$XOM
Equities

HSBC Adjusts Price Target on Exxon Mobil to $168 From $158, Maintains Hold Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $168.64, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

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Commodities

Argentina to Grant Tax Benefits to Attract $25 Billion to Vaca Muerta Oil Project

Argentina will include the LLL Oil project, located in the country's Vaca Muerta shale area, in its RIGI incentive program, offering tax benefits and guarantees to attract $25 billion in investment, Horacio Marin, CEO of state oil company YPF said on Linkedin on Friday.Marin said the project was the largest ever included under RIGI and the country's largest-ever export-focused oil project.The YPF-owned project will generate more than $100 billion in export revenue over its lifetime, Marin said. Export revenue is estimated at $6 billion per year from 2032 from 240,000 barrels of daily output drawn from 1,152 wells."For years we said that Vaca Muerta was going to change the story of Argentine energy. Today we're entering this phase," Marin said."What lies ahead in the next two years is unprecedented. We will achieve it with passion and with our people who go the extra mile every day to turn huge challenges into concrete results," he said."We are building a company and an industry of world class."A Bloomberg article on the development said that the company would likely need to attract significant capital from banks and other companies most likely outside the country.It noted that the country has achieved a jump in oil output in recent years after this was stymied by years of regulatory shifts. However, it said that major international oil companies have given the country a wide berth of late.TotalEnergies (TTE), Exxon Mobil (XOM) and Equinor (EQNR) have all divested since President Javier Milei took office more than two years ago, Bloomberg noted.

$EQNR$TTE$XOM
Commodities

Market Chatter: Trump Administration Moves to Fast-Track Arctic Oil Permits in Alaska Reserve

The Trump administration plans to streamline permitting for oil projects in the National Petroleum Reserve-Alaska, seeking to accelerate crude production in the US Arctic amid heightened concern over global energy supplies, Bloomberg reported on Friday.The 23-million-acre reserve, about 500 miles north of Anchorage, was originally designated for naval oil supplies and is estimated by the US government to contain 8.8 billion barrels of recoverable oil.The Interior Department is expected to create a new framework for approving oil production facilities and related infrastructure in the reserve. Officials said qualifying projects could undergo environmental review and receive permits in as little as 30 days.The proposed initiative centers on an Interior Department effort to conduct a broad environmental review of a typical reserve development, examining the impacts of wells, gravel roads, processing units and other common infrastructure.That review would lay the groundwork for a future rule establishing criteria for oil and gas projects eligible for expedited permitting based on the broader environmental analysis.The Interior Department's Bureau of Land Management is to launch the effort with an environmental impact statement and a 45-day public comment period on the study's scope.The Interior Department did not immediately respond to a request for comment from.The proposal could reportedly benefit companies including ConocoPhillips (COP), Santos and Repsol, all of which hold leases in the reserve, as well as ExxonMobil (XOM), Shell (SHEL), Armstrong Oil & Gas and other oil companies that bid about $164 million on leases in the reserve during a record-setting government auction in March."We know we can speed up permitting a common sense way," Burgum reportedly told Bloomberg in an interview.Burgum was reportedly set to announce the plan on Friday near the Willow project during a visit to oil and mining sites in Alaska.Bloomberg said environmental groups warned the proposal could weaken scrutiny of long-term energy projects and their impacts on wildlife, ecosystems and Indigenous communities.(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.)

$COP$SHEL$XOM
Wire

Sector Update: Energy Stocks Gain Late Afternoon

Energy stocks were higher late Friday afternoon, with the NYSE Energy Sector Index rising 1.5% and the State Street Energy Select Sector SPDR ETF (XLE) climbing up 2%.The Philadelphia Oil Service Sector Index was decreasing 0.3%, and the Dow Jones US Utilities Index fell 2.2%.Front-month West Texas Intermediate crude oil gained 4.2% to $105.43 a barrel, and the global benchmark Brent crude contract was advancing 3.4% to $109.31 a barrel. Henry Hub natural gas futures rose 2.7% to $2.97 per 1 million BTU.In sector news, US Secretary of Energy Chris Wright told CNBC on Friday he expects China to increase oil imports from the US because the two nations are natural partners and because China relies heavily on imports from the Middle East that have mostly been cut off for weeks.In corporate news, ConocoPhillips (COP) shares rose 2.9% after Argus raised its price target to $136 from $128, while keeping its buy rating.Exxon Mobil (XOM) was found not liable by a Texas jury in a lawsuit accusing the oil major of misleading investors about its Canadian oil sands and Rocky Mountain gas operations, Reuters reported late Thursday. Shares gained 3%.BP (BP) plans to cut its pipeline gas trading team and focus on expanding its liquified natural gas trading, Reuters reported. Separately, BP is contemplating selling some natural gas assets in Egypt, Reuters reported. Shares rose 1.7%.Prairie Operating (PROP) shares fell 15% after it reported a Q1 loss late Thursday of $2.16 per diluted share, narrowing from a loss of $3.49 a year earlier. Four analysts polled by FactSet expected earnings of $0.15.

$BP$COP$PROP$XOM
Sectors

Sector Update: Energy Stocks Rise Friday Afternoon

Energy stocks were higher Friday afternoon, with the NYSE Energy Sector Index rising 0.9% and the State Street Energy Select Sector SPDR ETF (XLE) climbing 1.6%.The Philadelphia Oil Service Sector Index was decreasing 0.5%, and the Dow Jones US Utilities Index fell 2.4%.Front-month West Texas Intermediate crude oil gained 3.9% to $105.12 a barrel, and the global benchmark Brent crude contract was advancing 3.2% to $109.08 a barrel. Henry Hub natural gas futures rose 2.4% to $2.96 per 1 million BTU.In sector news, US Secretary of Energy Chris Wright told CNBC on Friday he expects China to increase oil imports from the US because the two nations are natural partners and because China relies heavily on imports from the Middle East that have mostly been cut off for weeks.In corporate news, BP (BP) plans to cut its pipeline gas trading team and focus on expanding its liquified natural gas trading, Reuters reported. Separately, BP is contemplating selling some natural gas assets in Egypt, Reuters reported. BP shares were up 1%.ConocoPhillips (COP) shares rose 2.2% after Argus lifted the company's price target to $136 from $128, while keeping its buy rating.Exxon Mobil (XOM) was found not liable by a Texas jury in a lawsuit accusing the oil major of misleading investors about its Canadian oil sands and Rocky Mountain gas operations, Reuters reported late Thursday. Exxon shares climbed 2.9%.

$BP$COP$XOM
Wire

Market Chatter: US Energy Secretary Expects China to Increase Oil Imports From US

US Secretary of Energy Chris Wright told CNBC on Friday he expects China to increase oil imports from the US because the two nations are natural partners and because China relies heavily on imports from the Middle East that have mostly been cut off for weeks.(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: $156.00, Change: $+4.25, Percent Change: +2.80%

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Wire

US Energy Secretary Expects China to Increase Oil Imports From US, CNBC Reports

US Energy Secretary Expects China to Increase Oil Imports From US, CNBC Reports

$COP$CVX$OXY$XOM
Sectors

Sector Update: Energy Stocks Rise Pre-Bell Friday

Energy stocks were advancing pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.8%.The United States Oil Fund (USO) was up 2% and the United States Natural Gas Fund (UNG) was 1.7% higher.Front-month US West Texas Intermediate crude oil was 2.7% higher at $103.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.1% to $107.96 per barrel, and natural gas futures were up 1.9% at $2.95 per million British Thermal Units.Exxon Mobil (XOM) was found not liable by a Texas jury in a lawsuit accusing the oil major of misleading investors about its Canadian oil sands and Rocky Mountain gas operations, Reuters reported. Exxon Mobil stock was 0.5% higher premarket.BP (BP) is contemplating selling certain natural gas assets in Egypt, Reuters reported, citing sources familiar with the matter. BP shares were marginally lower pre-bell.

$BP$UNG$USO$XLE$XOM
Sectors

Sector Update: Energy

Energy stocks were advancing pre-bell Friday, with the State Street Energy Select Sector SPDR ETF (XLE) up 0.7%.The United States Oil Fund (USO) was up 1.9% and the United States Natural Gas Fund (UNG) was 1.5% higher.Front-month US West Texas Intermediate crude oil was 2.6% higher at $103.89 per barrel at the New York Mercantile Exchange. Global benchmark North Sea Brent crude oil rose 2.1% to $107.95 per barrel, and natural gas futures were up 2.2% at $2.96 per 1 million British Thermal Units.Exxon Mobil (XOM) was found not liable by a Texas jury in a lawsuit accusing the oil major of misleading investors about its Canadian oil sands and Rocky Mountain gas operations, Reuters reported. Exxon Mobil stock was 0.2% higher premarket.

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Equities

Market Chatter: Exxon Mobil Found Not Liable Over Oil Sands, Gas Asset Disclosures

Exxon Mobil (XOM) was found not liable by a Texas jury in a lawsuit accusing the oil major of misleading investors about its Canadian oil sands and Rocky Mountain gas operations, Reuters reported late Thursday.The report said the 2016 lawsuit claimed Exxon hid losses tied to its Canadian bitumen business, failed to properly account for carbon costs in reserve valuations, and delayed impairment charges related to Rocky Mountain dry gas assets.Jurors in Dallas federal court found that investors who bought Exxon shares between Feb. 24 and Oct. 28, 2016 failed to prove the company misled them through its disclosures, Reuters reported.Exxon Mobil did not immediately respond 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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Research

Research Alert: Integrated Oil & Gas Fundamental Outlook: Neutral, But Reflecting Mixed Views

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:WTI crude oil sits at $101/b today vs. $67/b before U.S. attacks on Iran on February 28, with the Strait of Hormuz largely closed creating an 11-12 mmb/d supply shortage. Independent refiners reported strong Q1 margins, while April CPI hit 3.8%, the highest in three years. We remain neutral on Integrated Oil & Gas, liking downstream but wary of upstream prospects given mixed fundamentals. We estimate WTI averaging $99/b in 2026 but see it falling to $63/b in 2027 due to adverse economic effects on the broader global economy, and UAE departing OPEC, presuming Strait reopening in 2H 2026. We think refining has tailwinds from wider Brent-WTI spreads at $6/b vs. normalized $3.50-$4.00/b and reduced U.S. capacity after two California refinery closures. We anticipate wider refining margins in 2026 and likely into 2027, while most of our upstream EPS estimates are below consensus for 2027.

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