Exxon Mobil Corporation (XOM) is reportedly contemplating the sale of its oil and gas assets in Argentina’s lucrative Vaca Muerta shale region. This development indicates a major shift in the U.S. energy giant’s focus in South America.ExxonMobil’s assets in Argentina encompass stakes in seven oil and gas blocks in the Vaca Muerta region. The sale process began last year, with ExxonMobil exploring options for a potential $1-billion sale of these shale assets. The process seems to be advancing, with binding o ...

Exxon Mobil Corp. (XOM, Financial) announced its earnings for the fourth quarter and full-year 2023 on Feb. 2. Ranked 15th in the S&P 500, the company is considered one of the most powerful oil supermajors with solid dividends increasing annually, thereby being considered a dividend aristocrat. It operates in three distinct segments: upstream (oil and gas production), downstream and chemicals with specialty products. The upstream segment generated 54.70% of the total earnings of the company in the fourth qu ...

NEW YORK, NEW YORK - NOVEMBER 03: The ExxonMobil company logo is displayed on a screen at the New ... [+] York Stock Exchange during afternoon trading on November 03, 2023 in New York City. All three major indexes are on pace to continue and close off of Thursday's high and are on pace to have its best week of 2023 amid the release of a jobs report by the Bureau of Labor Statistics. (Photo by Michael M. Santiago/Getty Images)Getty ImagesThe oil industry has historically been politically conservative. In tur ...

Energy stocks, crucial for powering homes, businesses, and vehicles, saw their stocks dip slightly in 2023. Yet investors, like Fidelity’s energy sector portfolio manager, are optimistic for 2024, pointing to tight supply, robust demand, and higher production investments as reasons for potential growth in energy stocks. Among these, Exxon Mobil (NYSE:XOM) has been standing out as a leader in oil and gas exploration, production, refining, and marketing. Its comprehensive involvement in the energy field offer ...

SPRING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE: XOM) announced today that the securities commissions for the provinces of Alberta and Ontario have issued a decision document (the Decision), which has the effect of granting ExxonMobil exemptive relief from the disclosure requirements contained in National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (NI 51-101). As a result of the Decision, and provided that certain conditions set out in the Decision are met on an on ...

grandriver I began coverage of Exxon Mobil Corp (NYSE:XOM) in October 2023, highlighting it as my favorite play in the international oil patch given its superior execution and management along with a favorable geographic footprint vs. peers. Following the company's announcement to take over Permian E&P Pioneer Resources (PXD) in late November, I published a further note, commenting and offering my thoughts on what I deem to be a perfect strategic fit to XOM's mid-term strategy of shifting its portfolio towa ...

Exxon Mobil Corporation (XOM) has been awarded an exploration license by Guyana. The license allows the energy giant to look for oil and gas in a disputed area off the coast of South America, where the Venezuelan military had previously expelled two U.S. oil companies. This recent move by Guyana may escalate its tension with neighbouring Venezuela.The energy giant plans to drill two exploration wells in the north and west of the Stabroek block, which has three fields that produce close to 650,000 barrels of ...

On Feb. 2, ExxonMobil (XOM -2.12%) reported its second-highest year of earnings over the last decade. And there could be even more growth to come in the years ahead.Exxon's record earnings in 2022 were a bit of an outlier. Oil prices surged in response to Russia's invasion of Ukraine, geopolitical tensions, and strong demand. 2023, which featured lower oil and gas prices, could be a glimpse of what's to come for Exxon.Exxon is laying the groundwork for sustained earnings growth. A lot of it has to do with c ...

Exxon Mobil Corporation (XOM) announced its decision to exit Equatorial Guinea in the second quarter of 2024, marking the end of nearly three decades of oil drilling activities in the country.The oil major will transfer its remaining investments to the local government, concluding a chapter that transformed the small West African nation into a member of the Organization of the Petroleum Exporting Countries.The move aligns with ExxonMobil’s long-term strategy, focusing on the fastest-growing, lowest-cost opp ...

ExxonMobil (XOM 0.69%) launched an ambitious strategy in 2018 to more than double its earnings and cash flow by 2025, assuming similar commodity prices. The multipronged plan would see the oil company invest in its highest-return projects, enhance its portfolio, and reduce costs. That plan is turning it into a moneymaking machine. The oil company's successful execution of its long-term strategic plan was evident last year. ExxonMobil has already more than doubled its earnings from 2019's baseline. And as CE ...