Page 2 - Exxon Mobil
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, .
 "Oil giant Exxon Mobil rakes in profit of $19.66 bn in Q3; revenue doubles")
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
 "ONGC inks agreement with ExxonMobil for deepwater exploration in India")
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
 "ExxonMobil and Chevron shatter profit records in second quarter")
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
 "Boeing, Exxon, Apple join Western firms spurning Russia over Ukraine")
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.
Exxon Mobil faces new pressure over dealings with Russia's Rosneft
Exxon holds a 30% stake, alongside Rosneft, Japan's SODECO and India's ONGC Videsh, in Sakhalin Island oil and gas fields in Russia's Far East
 "Exxon Mobil faces new pressure over dealings with Russia's Rosneft")
ExxonMobil eyes more long-term gas supply deals with India
At present Exxon has a long-term contract to annually supply 1.5 million tonnes of liquefied natural gas to Indian firm Petronet LNG
Exxon Mobil starts sale of US shale gas properties in disinvestment plan
The top US oil producer is marketing 61 wells that last year produced around 81 million cubic feet per day equivalent of natural gas.
 "Exxon Mobil starts sale of US shale gas properties in disinvestment plan")
ExxonMobil lifts spending on emission reduction plan to $15 bln
The energy giant said the USD 15 billion will go toward projects focused at reducing greenhouse gas emissions from existing operations and increased investments in the low carbon solutions business
 "ExxonMobil lifts spending on emission reduction plan to $15 bln")
Joe Biden recommends overhaul of nation's oil and gas leasing program
The long-awaited report by the Interior Department stops short of recommending an end to oil and gas leasing on public lands
 "Joe Biden recommends overhaul of nation's oil and gas leasing program")
Musk now worth more than ExxonMobil after $36.2 bn single-day gain
Eclipsing the value of an old-economy bellwether like Exxon may seem like an inevitable milestone in Musk's trajectory
 "Musk now worth more than ExxonMobil after $36.2 bn single-day gain")
Equity index giant MSCI to give 10,000 firms global warming ratings
The firm is launching Implied Temperature Rise scores, which estimate whether a firm's activities and plans are consistent with keeping global warming below 2 degrees Celsius
 "Equity index giant MSCI to give 10,000 firms global warming ratings")
Exxon Mobil plans to cut US headcount by 5-10% annually for 3 years
The cuts will target the lowest-rated employees relative to peers, and for that reason will not be characterized as layoffs
Investors, Dutch court deliver 'stark warning for Big Oil' on climate
Investor support for climate concerns could force oil and gas companies to rethink how fast they pivot to other forms of energy
 "Investors, Dutch court deliver 'stark warning for Big Oil' on climate")
Exxon floats $100 bn carbon storage hub requiring public, private financing
The plan would require "$100 billion or more" from companies and government agencies to store 50 million metric tons of CO2 by 2030
Exxon scales back shale ambitions to focus on low costs, saving dividend
The top U.S. oil producer incurred a historic loss of US$22.4 billion last year and is trying to convince a skeptical Wall Street that it can rebound
Exxon Mobil's total reserves drop by a third after Covid-19 oil price drop
The reserves reductions were "a result of very low prices during 2020 and the effects of reductions in capital expenditures," the company said in a filing
Exxon, Chevron CEOs discussed merger in early 2020, talks no longer active
The CEOs of ExxonMobil Corp and Chevron Corp held preliminary talks in early 2020 to explore combining the two largest US oil producers in what would have been the biggest merger of all time
Oil major Exxon Mobil plans to lower greenhouse gas emissions by 2025
The world's top oil and gas firms are under heavy pressure from investors and climate activists to meet the 2015 Paris climate goal