ExxonMobil (NYSE:XOM) recently completed its $60 billion acquisition of Pioneer Natural Resources. The deal expands the oil and gas giant’s presence in the oil-rich Permian basin. However, before the Federal Trade Commission (FTC) signed off on the transaction, Pioneer CEO Scott Sheffield was banned from taking a board seat at Exxon.It alleged Sheffield colluded with the Organization of Petroleum Exporting Countries (OPEC) to keep oil prices higher. By calling for Permian producers to restrain investing too ...

About this content About Josh Lamb After graduating from the University of Kent in the summer of 2022 with a degree in History, Josh joined Proactive later that year as a journalist in the UK editorial team. Josh has reported on a range of areas whilst at Proactive, including energy companies during a time of global crisis, aviation and airlines as the sector recovers from the pandemic, as well as covering economic, social and governance issues. Read more About the publisher Proactive financial news and ...

These billionaires are betting big on energy stocks.It is always interesting to watch how billionaires are investing their money. They have a knack for enriching themselves and other investors. Because of that, following their stock market moves can prove to be profitable.Several billionaire investors are currently betting big on energy stocks. Chevron (CVX 0.22%), ExxonMobil (XOM -0.41%), and Western Midstream (WES -0.60%) stand out to a few Fool.com contributors because billionaires are buying their stock ...

Warren Buffett is betting billions of dollars on these two oil stocks. Should you follow suit?Want to find profitable oil stocks? Pay attention to what Warren Buffett is buying. His holding company, Berkshire Hathaway, now owns several oil stocks. Two in particular are worth diving into now.Buffett is betting big on this oil stockAs of last quarter, Berkshire Hathaway held around 250 million shares of Occidental Petroleum (OXY -1.04%) worth roughly $14 billion. Given that Occidental has a market share of on ...

U.S. energy major Chevron Corporation (CVX) has stated that one of its three LNG trains at Australia’s Gorgon LNG Facility will remain offline for five weeks. The LNG train has been offline since Apr 30, 2024, owing to a mechanical fault in a turbine. Management has noted that they have begun working to repair the fault and the process may take several weeks.The Gorgon LNG project has a nameplate capacity of 15.6 million tonnes per annum. It is located on Barrow Island, offshore Western Australia. Exports f ...

The oil market continues to look for direction. After running up above $85 a barrel to start the year, West Texas Intermediate crude oil, the American standard, is back below $80 as tensions in the Middle East ease and on growing signs that the U.S. economy is slowing. At the same time, a warmer than expected winter in Europe and North America has led to a glut of natural gas, depressing prices for that energy product. But that could mean opportunity for investors looking for undervalued oil and gas stocks. ...

Three time-tested businesses have the necessary catalysts to blow past electric-vehicle (EV) maker Tesla by 2026.For more than a year, the iconic Dow Jones Industrial Average, broadly followed S&P 500, and growth-driven Nasdaq Composite have been enjoying a true "running of the bulls." While certain sectors and industries have taken turns contributing to the bull market, the "Magnificent Seven" have done most of the heavily lifting.The Magnificent Seven represent seven of the largest and most-influential co ...

Vivek VishwakarmaThe current market remains a ‘target rich’ environment for income investors, with many stocks yielding well above the key 3% psychological mark. While it’s tempting to pile money into Treasuries that now yield around 5%, one should question for how long that yield may last, considering that the weaker-than-expected April Jobs Report builds a case for rate cuts this year. As such, buying Treasuries carries reinvestment risk, in which interest income may not be deployed at similar yields ...

The Dow Jones Industrial Average is an index comprised of 30 blue-chip stocks that are meant to serve as a cross-section of the U.S. economy. Owing to its composition of established blue-chip names, the Dow tends to grow at a slower pace than either the benchmark S&P 500 index or the technology-laden Nasdaq index. Thanks to its slower growth, there are currently some pretty attractive undervalued Dow stocks available.So far in 2024, the Dow is up only 3% compared to a 9% increase in the S&P 500 and an 8% ri ...

When it comes to America’s oil use and production, one major producer signaled that market uncertainty can’t pump the pipeline brakes. "Markets are relatively balanced. Demand growth is strong. Last year was all-time record demand. We'll see demand grow again this year," Chevron CEO Mike Wirth said on "Mornings with Maria" Tuesday. "So, the end of the oil age is not yet upon us."Wirth spoke with host Maria Bartiromo at the 27th annual Milken Institute Global Conference, where he detailed expectations for po ...