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Exxon Mobil

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Chevron expands Venezuela operations amid high-stakes oil deal
business1 month ago

Chevron expands Venezuela operations amid high-stakes oil deal

Chevron confirmed plans to expand operations in Venezuela, potentially securing a 100-year concession over 17 oil fields via a joint venture with the state oil company PDVSA. The move is touted by U.S. officials as boosting American energy presence, but experts warn that Venezuela’s legal authority and aging oil infrastructure will heavily influence viability, and analysts caution it won’t instantly lower gasoline prices amid rising U.S. pump prices.

via AP News|
#business#chevron#exxon-mobil
Big Oil’s $26.5B windfall spurs talk of windfall taxes amid gas-price pain
energy2 months ago

Big Oil’s $26.5B windfall spurs talk of windfall taxes amid gas-price pain

ExxonMobil and Chevron posted a combined $26.5 billion in second-quarter profits, triggering political backlash and renewed calls for windfall taxes as high gas prices persist and the Iran war influences oil prices ahead of midterm elections; analysts say profits may stay elevated, while the industry weighs reinvestment risks amid policy uncertainty.

via The Washington Post|
#chevron#energy#exxon-mobil
SCOTUS Clears Exxon’s Path to Sue Cuba Over 1960 Asset Seizure
world3 months ago

SCOTUS Clears Exxon’s Path to Sue Cuba Over 1960 Asset Seizure

The Supreme Court, in a 6-3 decision written by Justice Kavanaugh, allowed Exxon Mobil to sue Cuban state-owned oil companies in U.S. courts over property seized in 1960 after Fidel Castro’s rise, leveraging a 1996 law that permits claims for expropriated assets; the Trump administration backed Exxon, and the case could involve hundreds of millions of dollars, signaling ongoing political and legal pressure between the U.S. and Cuba.

via CNN|
#1996-law#cuba#expropriation
U.S. Oil Holds Fire on Gulf Market Takeover Amid Modest Growth
business3 months ago

U.S. Oil Holds Fire on Gulf Market Takeover Amid Modest Growth

U.S. oil output is set to rise only modestly next year, with smaller producers drilling more while majors like Exxon and Chevron keep plans unchanged amid uncertainty from the Middle East conflict. The EIA now expects output to top about 14 million barrels per day, a gain from earlier expectations, but the war is unlikely to allow the United States to capture significant market share from Persian Gulf producers.

via The New York Times|
#business#energy-information-administration#exxon-mobil
Exxon Signals Looming Oil Inventory Crunch That Could Send Prices Skyward
business4 months ago

Exxon Signals Looming Oil Inventory Crunch That Could Send Prices Skyward

Exxon Mobil warned that oil inventories are headed for record lows in the coming weeks due to the Middle East war, a development it says will push prices higher—with Brent potentially hitting $150–$160 per barrel once inventory levels bottom out; current prices sit below $100 as markets await a possible U.S.–Iran deal to reopen the Strait of Hormuz. The IEA has flagged rapid stock depletion and a past release of 400 million barrels to cushion the disruption.

via CNBC|
#brent-crude#business#exxon-mobil
Big-3 Oil Stocks Poised to Lead What Could Be a Historic Oil Rally
energy5 months ago

Big-3 Oil Stocks Poised to Lead What Could Be a Historic Oil Rally

The author argues that Chevron, Exxon Mobil, and ConocoPhillips stand to benefit from unprecedented Middle East oil disruptions, forecasting Brent crude could reach $150–$200 per barrel due to Strait of Hormuz closures, depleted reserves, and strong demand. With diversified assets outside the Middle East, the Big-3 are positioned for outsized profits as global supply tightens, and all three are rated as buys, with Chevron favored for its steady dividend growth and a ~3.9% yield.

via Seeking Alpha|
#chevron#energy#energy-sector
Exxon: Oil market hasn’t priced in Iran-war disruption, Hormuz closure risk persists
business5 months ago

Exxon: Oil market hasn’t priced in Iran-war disruption, Hormuz closure risk persists

Exxon Mobil CEO Darren Woods says the oil market has not fully priced in the disruption from the Iran conflict and the Strait of Hormuz closure, with buffers like tankers in transit, strategic reserves, and inventory drawdowns delaying price moves. He expects Persian Gulf flows to normalize within a month or two after the strait reopens, but prices could rise if the strait remains closed. Exxon projects a ~750,000 bpd hit to Middle East production if closures persist into Q2 2025, and about 15% of its total output is affected; Iranian attacks on LNG lines also weigh on upstream production. The stock edged lower while oil prices have surged since the war began.

via CNBC|
#business#exxon-mobil#iran-war
Hormuz Blockade Ignites 7% Oil Rally, Highlighting COP, CVX, XOM
energy6 months ago

Hormuz Blockade Ignites 7% Oil Rally, Highlighting COP, CVX, XOM

Oil jumps about 7% as the Strait of Hormuz blockade reroutes tankers to U.S. Gulf ports, boosting domestic crude demand. Three U.S. producers—ConocoPhillips (COP), Chevron (CVX), and Exxon Mobil (XOM)—are cited as beneficiaries of higher realized prices and robust Gulf infrastructure, supported by COP’s low-cost output, CVX’s diversified earnings and dividend growth, and XOM’s large production footprint. The piece notes recent 2025 results and dividend histories, cautions energy stocks remain volatile, and suggests starting small for long-term exposure.

via 24/7 Wall St.|
#conocophillips#energy#exxon-mobil
Exxon stock scales fresh high as Woods presses Venezuela protections
business8 months ago

Exxon stock scales fresh high as Woods presses Venezuela protections

Exxon Mobil’s stock rose about 2% to around $126.54, hitting a fresh high as investors reward the company’s steady profits and global footprint, including Guyana, despite President Trump’s threats to cut Exxon out of Venezuelan oil deals. CEO Darren Woods urged durable protections and contractual guarantees in Venezuela, while near-term crude prices hover in the mid‑$60s, helping fuel the rally.

via MarketWatch|
#business#donald-trump#energy-industry
Exxon's Venezuela candor tests Trump's oil gambit
politics8 months ago

Exxon's Venezuela candor tests Trump's oil gambit

Exxon Mobil CEO Darren Woods told President Trump that Venezuela is 'uninvestable,' a blunt assessment echoed by other oil leaders; Trump reacted negatively, signaling limits to U.S. investment, while industry cautions say any reconstruction would require major political and legal reforms and security guarantees, with Chevron currently the only major international operator in Venezuela, illustrating the risk and optics at the White House meeting.

via Bloomberg.com|
#energy-policy#exxon-mobil#oil
Exxon and Chevron Q3 Earnings Decline Amidst Low Oil Prices
business11 months ago

Exxon and Chevron Q3 Earnings Decline Amidst Low Oil Prices

Chevron and Exxon Mobil, two major U.S. oil companies, reported continued quarterly profit declines, though Chevron's earnings surpassed expectations while Exxon Mobil's fell short. The overall trend shows a slowdown in profit declines compared to previous quarters, amid fluctuating oil prices and geopolitical factors. Other energy companies like Shell and Total Energies reported mixed results, with some initiating share buybacks. U.S. oil prices remain volatile, influenced by global trade tensions and sanctions.

via Investor's Business Daily|
#business#chevron#energy-stocks