NYSE:XOM - New York Stock Exchange, Inc. - US30231G1022 - Common Stock - Currency: USD
Oil prices rebound on fears of potential supply disruptions as Trump prepares to impose sanctions on Iran, leading energy stocks to outperform.
Abu Dhabi National Oil Company's investments in the United States now sit within its new international investment arm XRG, ADNOC's CEO said on Tuesday, as the oil giant moves to build up a business focused on lower carbon energy and chemicals. The U.S. investments are in an ExxonMobil hydrogen plant and in NextDecade's liquefied natural gas facility.
Abu Dhabi’s main energy company will transfer stakes in some US assets to its new international investment firm, XRG PJSC, part of a push to create a $80 billion global venture.
The headline numbers for Exxon (XOM) give insight into how the company performed in the quarter ended December 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
(Bloomberg) -- Big Oil was once the antithesis of the asset-light, hyper-growth world of Silicon Valley. Now it’s looking to Big Tech to stay relevant. Most Read from BloombergHow the 2025 Catholic Jubilee Is Reshaping RomeTrump Paves the Way to Deputize Local Police on ImmigrationManhattan’s Morning Commute Time Drops With New Congestion TollHistoric London Elevator Faces Last Stop in Labour’s Housing PushHousing Aid Uncertain After Trump’s Spending Freeze MemoExxon Mobil Corp., Chevron Corp. a
Big Oil was once the antithesis of the asset-light, hyper-growth world of Silicon Valley. Now it’s looking to Big Tech to stay relevant.
Big Oil executives this week saw little prospect of a near-term improvement in refinery profits after Chevron, Exxon Mobil and Shell all reported fourth-quarter earnings that were hit hard by a downturn in the margins for producing fuel. An increase in global refining capacity in 2024, combined with sputtering demand growth has hurt refining margins. Chevron's shares declined 4% after it reported a loss in its refining business for the first time since 2020, causing the No. 2 U.S. oil producer to miss Wall Street's profit estimate.
Jessica Inskip discussed Exxon Mobil, Deckers Outdoor and Atlassian.
According to FinChat data, the company reported fourth-quarter revenue of $83.42 billion, compared with the average analysts’ estimate of $87.20 billion.
Exxon's earnings exceeded forecasts, but the company's revenue saw a decline
ExxonMobil's profits topped analyst estimates despite lower revenue than expected for the fourth quarter as the oil and gas giant said its production in 2024 hit its highest level in over a decade.
XOM Q4 earnings gain on production growth from its Guyana and Permian Basin resources. Revenues decline year over year due to lower commodity price realizations.