Exxon Mobil Corporation (XOM) has signaled that U.S. oil and gas producers are unlikely to significantly ramp up production despite potential policy shifts under a future Trump administration. Speaking at the Energy Intelligence Forum in London, Liam Mallon, head of ExxonMobil's upstream division, emphasized that the industry remains focused on economic sustainability over aggressive drilling."We're not going to see anybody in 'drill, baby, drill' mode," Mallon stated. He highlighted that radical production ...

Exxon Mobil Corporation (XOM) , the U.S. oil and gas giant, has withdrawn its stake from Block 52, offshore Suriname, per a statement by Staatsolie, the national oil company of Suriname. The company has transferred its 50% working interest in the block to Petronas, the Malaysian national energy firm. Petronas is the operator of the block that now holds a 100% working interest.XOM’s decision to exit Block 52 came in despite the discovery of gas reserves on the site in 2020. Staatsolie states that ExxonMobil’ ...

ExxonMobil (XOM -0.11%) has been a surprising stock market winner this year. Despite sluggish energy prices and the broader sector taking a back seat to the excitement in high-growth technology companies, shares of Exxon are up 20% thus far in 2024 and near its all-time high.The oil and gas giant continues to deliver solid financial results, reaffirming its blue chip status with a long history of generating positive shareholder returns. Heading into 2025, can the rally keep going or is it time for investors ...

Exxon Mobil Corporation (XOM) , the U.S. oil and gas giant, is scheduled to drill a well targeting natural gas finds offshore Cyprus in January 2025. Since the Russian invasion of Ukraine in 2022, many major energy companies have been trying to explore new energy reserves in the Mediterranean region in an attempt to diversify from Russia.Many oil-producing companies have been eyeing the East Mediterranean region, where many natural gas discoveries have been made in recent years. Following the invasion of Uk ...

Exxon Mobil (NYSE: XOM ) is a large, growing U.S. energy company with considerable earnings power and free cash flow strength. Exxon Mobil generated its highest amount of free cash flow in the last year in the SeptemberAnalyst’s Disclosure: I/we have a beneficial long position in the shares of XOM, CVX either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no ...

ExxonMobil's focus on oil and gas production quality is paying off.The energy sector is chock-full of high-yield companies with inconsistent payouts or track records of slashing dividends during industrywide downturns. ExxonMobil (XOM -1.04%) is an exception.The largest U.S.-based oil and gas major by market cap just raised its dividend for the 42nd consecutive year to $0.99 per share per quarter. Investing $6,000 in Exxon stock should generate over $200 in passive income per year and likely more over time ...

Exxon Mobil Corporation (XOM) , the U.S.-based oil and gas giant, has announced its plans to lay off 397 Pioneer Natural Resources employees following the latter’s acquisition earlier this year. In May 2024, XOM acquired Pioneer Natural Resources in a transaction worth $63 billion. Following this, Exxon Mobil became the largest oil and gas producer in the prolific Permian Basin. The company benefited from integrating Pioneer’s assets into its portfolio. XOM’s production reached an all-time high in almost 10 ...

Darren Woods, chairman and chief executive officer of Exxon Mobil Corp., speaks during the 2022 CERAWeek by S&P Global conference in Houston, Texas, on Monday, March 7, 2022.President-elect Donald Trump should keep the U.S. involved in global efforts to address climate change, Exxon Mobil CEO Darren Woods said Tuesday.Trump should try to bring a "common sense" approach to the annual U.N. Climate Change Conference and "continue to have the U.S. influence policy around the world," Woods told CNBC's "Squawk Bo ...

AUSTIN, TEXAS - AUGUST 05: An Exxon gas station is seen on August 05, 2024 in Austin, Texas. ... [+] (Photo by Brandon Bell/Getty Images)Getty ImagesAfter a 24% rise since the beginning of 2024, at the current price of around $121 per share, we believe Exxon Mobil (NYSE: XOM), a leading explorer, producer, transporter, and seller of crude oil and natural gas - and North America’s largest energy company by market cap - could see gains in the longer term with limited growth potential in the near term. XOM sto ...

Exxon Mobil Corporation (XOM) , the oil and gas supermajor, has concluded the purchase of a floating production, storage, and offloading (FPSO) vessel from SBM Offshore. The FPSO Prosperity, working for ExxonMobil’s Payara field offshore Guyana, was acquired through the transaction.While ExxonMobil has gained ownership of the vessel, SBM Offshore is responsible for its operations and maintenance activities. The transaction involves a total consideration of $1.23 billion in cash. The transaction was closed b ...