HOUSTON—The two largest U.S. oil companies—Exxon Mobil Corp. and Chevron Corp.—disclosed plans to increase outlays on energy projects next year amid high oil demand and prices. While spending more, it will be less than half the combined $84 billion they spent in 2013, when oil prices often traded above $100 per barrel as it has…
Exxon Shares Surge to Record High on Strong Earnings Outlook
HOUSTON—Exxon Mobil Corp. shares passed their all-time high on Friday as oil prices resumed their climb and analysts raised their long-term views of top U.S. oil producer’s cash flow and earnings outlook. Exxon is leading a parade of record profits among oil majors this year after doubling down on oil during the pandemic, when energy…
Exxon Posts Biggest Profit in 7 Years on High Oil Prices
February 2, 2022
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HOUSTON—Exxon Mobil Corp. on Tuesday reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top U.S. oil producer benefited from strong energy prices. The company slashed spending after fuel demand cratered two years ago. Since then, earnings have topped pre-pandemic levels, helped by the rise in oil prices, with the…
This Oil Stock Has a Better 1-year Return Than Amazon, GoPro, Bank of America, and GE
As shares of clean energy manufacturing and EV companies soared in 2021, so did oil and gas giant Exxon Mobil Corp. Since January 2021, Exxon Mobil stock’s one-year return has outperformed several of the world’s most popular consumer discretionary, tech, and financial services stocks: Amazon.com Inc., GoPro Inc., Bank of America Corp., and General Electric…
Exxon Signals Fourth Quarterly Profit in a Row Despite Charges
December 31, 2021
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HOUSTON—Exxon Mobil Corp. on Thursday signaled a return to annual profit for 2021 as stronger oil and gas prices drove a gain of up to $1.9 billion in operating profits that exceeded one-time charges. The largest U.S. oil producer issued a snapshot of final quarter results that showed it expects sequentially higher profit from oil…
4 Injured in Fire at Exxon’s Baytown, Texas Plant
Four people were injured when a fire erupted on Thursday at Exxon’s complex in Baytown, Texas, one of the largest refining and petrochemical facilities in the United States. All other personnel were accounted for, Exxon said, adding that its emergency response crews were still working to extinguish the blaze. The Baytown plant houses a chemical…
Exxon Posts Strongest Results Since 2017, Pledges to Resume Share Buybacks
Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts’ estimates. The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents, with results lifted by oil and gas prices that have…
Exxon Discusses New Terms With Union Representing Locked-Out Texas Refinery Workers
October 11, 2021
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Exxon Mobil Corp. said on Saturday it and the United Steelworkers union, the union representing workers locked out of a Texas refinery, discussed terms of a proposed labor contract. Exxon said it provided clarifications to its latest proposal and rejected the union’s proposed changes to that offer, saying they would raise its costs. “Union provided…
Exxon Offers New Proposal to Locked-Out Texas Refinery Workers
HOUSTON—Exxon Mobil Corp. on Wednesday offered its first concession in a new contract proposal to locked-out workers at its Beaumont, Texas, refinery and lube oil plant to include some seniority protection. Exxon on May 1 locked some 650 workers out at the 369,000-barrel-per-day refinery, replacing them with temporary workers and saying the company was afraid…
NTD Business Full Broadcast (May 26)
Amazon completing its second biggest acquisition – buying Hollywood’s MGM studios. Netflix and Disney Plus beware. Climate change activists win 2 board seats at Exxon Mobil, as an activist investor pushes to overhaul Exxon’s strategy. A state liquor law makes New York City restaurants delay reopening. What’s so special about a liquor license? And why can’t…
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