Exxon Mobil

US oil and gas mergers hit $30 billion in Q2 2024, with major deals like ConocoPhillips’ bid for Marathon Oil driving significant industry activity and consolidation.

The U.S. Department of Energy finalizes a contract to purchase 4.65 million barrels of crude oil for the Strategic Petroleum Reserve, reinforcing national energy security.

Exxon Mobil Corp. (XOM) lowered profit expectations for the second quarter of 2024, citing lower refining margins and natural gas prices. The company expects earnings per share to be between…

The US Senate Budget Committee is investigating domestic oil producers for potential illegal coordination of oil prices with OPEC, raising concerns about market manipulation.

A Texas judge dismissed a lawsuit by Exxon Mobil against activist investor Arjuna Capital after the group agreed to withdraw a proposal on greenhouse gas emissions. The dismissal raises concerns about Exxon’s approach to shareholder engagement on environmental issues.

The United States’ oil refining capacity edged up for the second consecutive year, reaching 18.38 million barrels per day (bpd) in 2024. This increase is primarily driven by expansions at existing facilities, with a major project at Exxon Mobil’s Beaumont, Texas refinery playing a significant role. However, the industry grapples with consolidation and uncertainty surrounding the ownership of Citgo Petroleum, the sixth-largest refiner, potentially impacting future fuel prices.

In a move that could signal a significant shift for Big Oil, Exxon Mobil faces mounting pressure from investors unhappy with the company’s handling of climate change activism. This investor discontent centers on a lawsuit Exxon Mobil filed against two small shareholders who proposed a climate resolution.

Nigeria is on the brink of finalizing a significant deal that could see the sale of Exxon Mobil’s oil assets to indigenous oil firm Seplat Petroleum Development Company Plc. The…

The FTC approves the Exxon-Pioneer deal but blocks former Pioneer CEO from joining Exxon’s board due to accusations of colluding with OPEC to raise oil prices. Lawmakers raise concerns about industry concentration, while the deal is expected to close on Friday.

Exxon Mobil CEO Darren Woods received a nearly 3% raise in total compensation for 2023, reaching $36.9 million, according to a regulatory filing submitted by the oil giant. This news comes as Exxon grapples with declining profits, highlighting a growing disconnect between executive pay and company performance. The situation has sparked outrage among some shareholders and raises questions about Exxon’s commitment to responsible corporate governance.