Group 1: ExxonMobil's Discovery - ExxonMobil has made a significant oil discovery at the Likembe-01 well in Angola's offshore Block 15 after a two-year hiatus in the region, demonstrating its commitment to exploration and production activities [1] - The Likembe-01 well was drilled to a maximum water depth of 3,013 meters and is part of Angola's efforts to enhance crude output from existing projects to counteract production declines [1][2] - This discovery aligns with Angola's strategy to boost oil production amid years of underinvestment and technical challenges, which have led to a decline in output [2] Group 2: Block 15 Overview - Block 15 is a major oil-producing block in Angola, holding approximately 4 billion barrels of oil equivalent (boe) of recoverable resources [2] - The recent discovery at Likembe-01 brings the total number of discoveries on Block 15 to 18, indicating a revitalization of Angola's oil sector [3] - ExxonMobil holds a 40% interest in Block 15, operating alongside partners Sonangol, Equinor, and Azule Energy [3] Group 3: Strategic Implications - The discovery at Likembe-01 could encourage Angolan officials to boost output, which is vital for the country's economic stability as it heavily relies on oil revenues [2] - ExxonMobil's recent discoveries highlight its strategic focus on expanding its global oil exploration portfolio, reinforcing its position in key offshore regions [3]

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. However, when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yiel ...

Exxon Mobil Corporation (XOM) and QatarEnergy, a state-owned energy titan, have signed a framework agreement to acquire two offshore exploration sites off Egypt’s coast.Per the deal, QatarEnergy will hold a 40% stake in the Masry and Cairo concessions, with ExxonMobil retaining a 60% working interest. This partnership, pending approval from the Egyptian government, marks a significant expansion in the offshore exploration endeavors of both companies.The Masry and Cairo concessions, located off the north coa ...

Exxon Mobil (XOM) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Over the past month, shares of this oil and natural gas company have returned -2%, compared to the Zacks S&P 500 composite's +1.3% change. During this period, the Zacks Oil and Gas - Integrated - International industry, which Exxon falls in, has lost 1.2%. The key question now is: What could be the stock's future ...

zodebala Introduction In early February of this year, I began covering Exxon Mobil (NYSE:XOM) stock here on Seeking Alpha, and since then, the stock has surged by 15.8%, outperforming the market's return by about threefold. Needless to say, I am incredibly pleased with this outcome. Seeking Alpha, Oakoff's coverage of XOM My thesis at the time revolved around Exxon stock being a robust investment opportunity within the O&G sector as the company has maintained strong core earnings and is targeting significan ...

A Pennsylvania jury ordered ExxonMobil to pay $725.5 million to a former mechanic who claimed toxic chemicals in the company’s gasoline and solvents caused his cancer, according to attorneys for the plaintiff.The 10-2 verdict came on Thursday, attorneys said, after a trial in a state court in Philadelphia, where former mechanic Paul Gill alleged he was exposed to benzene in ExxonMobil products while working at a gas station between 1975 and 1980.Following the trial that lasted just over a week, the jury fou ...

An Exxon Mobil Corporation (XOM) -led consortium recently announced that its Liza Unity Floating Production Storage and Offloading (FPSO) vessel has achieved peak production, pumping out an impressive 252,000 barrels per day (bbl/day) offshore Guyana, per a Reuters report.The consortium, comprising ExxonMobil, Hess Corporation (HES) and CNOOC, is gearing up for further advancements, with plans to inaugurate output next year using its newest vessel, One Guyana. According to the report, Alistair Routledge, Gu ...

Exxon is not just an energy company of the past.ExxonMobil (XOM -0.02%) released first-quarter results on April 26, and the report gave shareholders much to cheer about. For the period ending March 31, the company posted earnings of $8.2 billion, or $2.06 per share.Exxon earned $11.43 billion, or $2.79 per share, in Q1 of last year. Although the recent numbers equal a 26%-28% decrease, a more noteworthy metric is that Exxon generated a whopping $10.1 billion in free cash flow, beating analysts' expectations ...

Exxon Mobil Corporation’s (XOM) trading staff rallied outside its Brussels office last week, protesting against the relocation of the trading floor to London, per a Bloomberg report.Approximately 50 employees voiced their concerns over hundreds of job reductions that have occurred over the past three years. Among them, about a fifth are trading floor personnel who face potential job losses if they decline relocation, according to union representatives. The protest highlighted the stakes for approximately 37 ...

ExxonMobil Corporation (XOM) is finally moving ahead with its Rovuma liquefied natural gas (LNG) project in Mozambique. The company seems optimistic about the project and expects to seek a final investment decision at the end of 2025. The Rovuma LNG project is being developed by ExxonMobil, along with Eni SpA (E) .While XOM will be responsible for the construction and operation of the onshore liquefaction and related facilities, Eni will focus on the Coral floating LNG and upstream operations. The Rovuma LN ...