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Exxon Mobil Corporation

Exxon Mobil Corporation

$XOM
NYSEEnergy

206 stories mentioning Exxon Mobil CorporationUpdated just now

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 Stocks Fall Late Afternoon

Energy stocks declined late Tuesday afternoon with the NYSE Energy Sector Index falling 2.2% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.5%.The Philadelphia Oil Service Sector Index shed 0.2%, and the Dow Jones US Utilities Index rose 0.3%.West Texas Intermediate crude oil fell 2.7% to $93.96 a barrel, and global benchmark Brent rose 3.8% to $99.79 a barrel. Henry Hub natural gas futures was slightly lower at $2.91 per 1 million BTU.In corporate news, Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's (XOM) deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported. Occidental shares were down 1.9%, and Exxon fell 3.1%.BP's (BP) board unanimously removed Albert Manifold as chair and director, effective immediately. BP shares fell 3.9%.Oklo (OKLO) shares jumped 4.5% after it said Tuesday it has been selected by the US Department of Energy, along with four other nuclear companies, for advanced talks under the surplus plutonium utilization program.Baker Hughes (BKR) shares rose 1.1% after it said it has extended its contract with Petrobras (PBR) to provide integrated well construction services in Brazil's Santos Basin. Petrobras shares were down 2.3%.

$BKR$BP$OKLO$OXY$PBR$XOM
Sectors

Sector Update: Energy

Energy stocks declined late Tuesday afternoon with the NYSE Energy Sector Index falling 2.2% and the State Street Energy Select Sector SPDR ETF (XLE) dropping 2.5%.The Philadelphia Oil Service Sector Index shed 0.2%, and the Dow Jones US Utilities Index rose 0.3%.West Texas Intermediate crude oil fell 2.7% to $93.96 a barrel, and global benchmark Brent rose 3.8% to $99.79 a barrel. Henry Hub natural gas futures was slightly lower at $2.91 per 1 million BTU.In corporate news, Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's (XOM) deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported. Occidental shares were down 1.8%, and Exxon fell 3.2%.

$OXY$XOM
Wire

Market Chatter: Occidental Acquiring 10% Stake in Exxon's Deepwater Block Offshore Trinidad

Occidental Petroleum (OXY) is acquiring a 10% stake in Exxon Mobil's deepwater exploration block off the coast of Trinidad and Tobago, Reuters reported Tuesday, citing two people familiar with the matter.Exxon was the sole owner of the offshore block, which lies in water depths of 2,000 to 3,000 meters, the report said.Occidental and Exxon didn't immediately reply to requests 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: $58.17, Change: $-0.64, Percent Change: -1.09%

$OXY$XOM
Wire

Occidental to Acquire 10% Stake in Exxon Deepwater Block Offshore Trinidad, Reuters Reports

Occidental to Acquire 10% Stake in Exxon Deepwater Block Offshore Trinidad, Reuters Reports

$OXY$XOM
Wire

Market Chatter: Exxon, ConocoPhillips Push for Safeguards Before Returning to Venezuela

Exxon Mobil (XOM) and ConocoPhillips (COP) are seeking durable contract terms and a resolution to the billions of dollars they are owed as part of active negotiations with the Venezuelan government about returning to the country after exiting two decades ago, Bloomberg reported Tuesday, citing people familiar with the matter.The oil companies said Venezuela has more work to do, but they are encouraged by President Delcy Rodriguez's willingness to negotiate, the report said, citing the people.Exxon and ConocoPhillips didn't immediately reply to requests 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: $150.65, Change: $-4.27, Percent Change: -2.76%

$COP$XOM
Wire

Exxon, ConocoPhillips Push for Safeguards Before Returning to Venezuela, Bloomberg Reports

Exxon, ConocoPhillips Push for Safeguards Before Returning to Venezuela, Bloomberg Reports

$COP$XOM
Asia Markets

Progress on Potential Middle East Peace Agreement Drives US Equity Futures Higher Pre-Bell

US equity futures were edging higher pre-bell Tuesday as traders monitored the US-Iran situation for a potential peace agreement to end the Middle East war.Dow Jones Industrial Average futures were 0.5% higher, S&P 500 futures were up 0.7%, and Nasdaq futures were 1.1% higher.US Secretary of State Marco Rubio said that negotiations could "take a few days." Both sides said they have made progress on a potential memorandum of understanding that would end the war and provide 60 days for negotiators to reach a final deal.The framework of the memorandum is focused on halting the war and the US naval blockade in exchange for Iran ensuring safe transit in the Strait of Hormuz, according to Iranian foreign ministry spokesperson Esmaeil Baghaei.Traders observed the latest round of earnings, with AutoZone (AZO) reporting an increase in fiscal Q3 net income and net sales.Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 3% at $96.22 per barrel and US West Texas Intermediate crude 3.9% lower at $92.84 per barrel.The Chicago Federal Reserve Bank's monthly National Activity Index rebounded to a reading of 0.14 in April from negative 0.15 in March, compared with expectations for a smaller gain to negative 0.03 in survey of analysts compiled by Bloomberg as of 7:30 am ET.The March S&P Case-Shiller home price index is scheduled for release at 9 am ET. The May consumer confidence index, due at 10 am ET, is projected to fall to 92.0 from 92.8.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng ended flat, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.5% and Germany's DAX index was 0.4% lower in Europe's early afternoon session.In equities, Eli Lilly (LLY) shares were up 1.2% after the company said its experimental gene-editing therapy, VERVE-102, reduced LDL cholesterol and PCSK9 protein levels in a phase 1 study involving adults with heterozygous familial hypercholesterolemia or premature coronary artery disease. BHP Group (BHP) stock was 1.4% higher after a Guardian report that the company scrapped plans for an iron ore processing facility near its Jimblebar mine in Western Australia that was expected to improve ore quality and lower emissions.On the losing side, energy majors ExxonMobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY) saw their shares decline after oil prices fell below $100 for the first time in weeks. ExxonMobil shares were down 1.1%, Chevron stock was 1.2% lower, and Occidental Petroleum shares also fell 1.2%.

Dow JonesNasdaq CompositeS&P 500$AZO$BHP$CVX$LLY$OXY$XOM
Equities

Barclays Adjusts Exxon Mobil Price Target to $182 From $163, Maintains Overweight Rating

Exxon Mobil (XOM) has an average rating of overweight and mean price target of $169.50, 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://finwires.com/en/contact)

$XOM
Oil & Energy

Market Chatter: Exxon Reportedly Eyes Return to Venezuela, NYT Reports

Energy major Exxon (XOM) is in talks about a possible return to Venezuela nearly 20 years after the nationalization of its assets, the New York Times reported on Thursday, citing sources familiar with the talks.The potential deal, which could be finalized and announced as early as this month, involves the energy major signing upstream contracts to extract crude across up to six separate fields spanning multiple regions.The development marks a major pivot for the largest American energy firm, which just four months ago publicly declared Venezuela as "uninvestable" due to long-standing regulatory and expropriation risks, the report noted.The operational rift dates back to 2007 when then-President Hugo Chavez nationalized multi-billion-dollar heavy oil projects in the Orinoco Belt.Unlike industry peers who negotiated minority joint ventures with state-run PDVSA, Exxon refused compromise, exited the country, and launched protracted international arbitration battles that ultimately awarded the company roughly $1 billion in damages, a debt Venezuela's government has yet to fully settle.None of the parties involved responded immediately to' request for comments.Persistent security volatility in the Middle East has instilled a sense of urgency among Western oil majors to aggressively diversify upstream portfolios away from the oil-rich region.(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.)

$XOM
Wire

Market Chatter: Exxon Mobil Holds Talks to Acquire Oil-Production Rights in Venezuela

Exxon Mobil (XOM) is in talks to acquire rights to produce oil in Venezuela, the New York Times reported Thursday, citing several people familiar with the matter.The deal may be finalized and made public as soon as this month with Exxon signing contracts to produce in as many as six fields across several regions, the report said.It remains unclear if the initial accord would include binding obligations or only represent the company's expression of interest, the report said.Exxon Mobil 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: $155.25, Change: $-1.03, Percent Change: -0.66%

$XOM
Sectors

Sector Update: Energy Stocks Decline Thursday Afternoon

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 1.6%.The Philadelphia Oil Service Sector Index was declining 1.8%, and the Dow Jones US Utilities Index was adding 0.8%.Front-month West Texas Intermediate crude oil was declining 0.2% to $98.03 a barrel, and the global benchmark Brent crude contract was decreasing 0.7% to $104.27 a barrel. Henry Hub natural gas futures rose 0.7% to $3.03 per 1 million BTU.In sector news, US natural gas stocks rose by 101 billion cubic feet in the week ended May 15, faster than the 96 billion gain expected in a survey compiled by Bloomberg and following an increase of 85 billion cubic feet in the previous week.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 1.6%.ConocoPhillips (COP) Chief Executive Ryan Lance told Bloomberg that recent changes to Venezuela's oil law, intended to woo foreign oil companies, do not go far enough to attract foreign investment to the country. ConocoPhillips shares fell 1.8%.Devon Energy (DVN) said it acquired 16,300 net undeveloped acres in the Delaware Basin in New Mexico for about $2.6 billion through a Bureau of Land Management oil and gas lease sale. Devon shares were down 3.4%.

$COP$DVN$XOM
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%.

$XOM
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%

$XOM
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%

$XOM
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.)

$XOM
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.

$XOM
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://finwires.com/en/contact)

$XOM
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

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