Big oil companies are raking in their highest profits since the onset of the coronavirus pandemic, but they plan to continue spending sparingly to boost production despite higher commodity prices. Continue Reading
Surging prices for plastics are likely to help Exxon’s petrochemicals division post record-high earnings this week when the company reports its earnings. Items like flooring, roofing and packaging all saw Continue Reading
Exxon Mobil Corp’s (XOM.N) new chief financial officer Kathyrn Mikells is the first woman and external hire to join the oil major’s management committee, as energy firms search to diversify Continue Reading
Exxon Mobil (XOM.N) has signed a memorandum of understanding to participate in a carbon capture and storage (CCS) project in Scotland, the U.S. oil and gas producer said on Friday. Continue Reading
Royal Dutch Shell Plc (RDSa.L) plans to leave Aera, its California-based oil and gas-producing joint venture with Exxon Mobil Corp (XOM.N) , four people familiar with the talks told Reuters. Continue Reading
On the day the little investment firm Engine No. 1 would learn the outcome of its proxy battle at Exxon Mobil, its office in San Francisco still didn’t have furniture. Continue Reading
Exxon Mobil Corp. is preparing to reduce headcount at its U.S. offices by between 5% and 10% annually for the next three to five years by using its performance-evaluation system Continue Reading
Exxon Mobil Corp (XOM.N) plans to invest $240 million to expand the crude slate and improve pollution control at its 502,500 barrel-per-day refinery in Baton Rouge, Louisiana, said the state’s Continue Reading
The recent overhaul of Exxon Mobil Corp’s (XOM.N) board of directors could shift billions of dollars in spending and strategy over several years, but any changes likely will take time, Continue Reading
Exxon Mobil’s newly elected board member Kaisa Hietala says her work at Finnish refiner and biofuel producer Neste makes her more than just a champion of biofuels, she also has Continue Reading
An activist investor is likely to pick up a third seat on the board of Exxon XOM 0.79% Mobil Corp., giving it additional leverage to press the oil giant to address investor discontent about Continue Reading
Exxon Mobil’s U.S. oil refineries pump out far more lung-damaging soot than similarly-sized facilities operated by rivals, according to regulatory documents and a Reuters analysis of pollution test results. The Continue Reading
Last December, when a week-old hedge fund named Engine No. 1 challenged Exxon Mobil to change its ways, laughter echoed through Wall Street circles, from the fund’s name that recalled Continue Reading
Exxon Mobil Corp. CEO Darren Woods suffered one of the biggest setbacks of his career at the hands of a tiny activist investment firm established less than six months ago. At Continue Reading
Exxon Mobil’s shareholders have voted to replace at least two of the company’s 12 board members with directors who are seen as better suited to fight climate change, bolster Exxon’s Continue Reading
An activist investor’s successful campaign to win seats on the board of Exxon Mobil Corp. XOM 1.17% represents a historic defeat for the oil giant, one that will likely force it to more directly confront growing Continue Reading
ExxonMobil is facing a major challenge from a group of investors in one of the biggest fights a corporate boardroom has endured over its stance on climate change, an issue Continue Reading
ExxonMobil, a titan of corporate America, faces a pivotal moment this week as restive shareholders have their say on what critics call an inadequate response to seismic shifts brought on Continue Reading
ExxonMobil faces an “existential business risk” by pinning its future on fossil fuels as governments move to slash emissions, an activist hedge fund will tell investors in the final push Continue Reading
Exxon Mobil Corp. is being warned by activist hedge fund Engine No. 1 it faces an “existential business risk” by pinning its future on fossil fuels as governments move to slash emissions, the Continue Reading
Exxon, which is counting on carbon capture and storage as a primary way to achieve its targets for reducing greenhouse gas emissions , touted the recent creation of a new Continue Reading
Exxon Mobil Corp. expects to cut about 300 jobs in the Asian oil-trading hub of Singapore by the end of 2021, part of a global retrenchment that was announced last Continue Reading
Exxon Mobil Corp. XOM 3.73% added two new directors to its board Monday, as the beleaguered energy company tries to fend off calls for change from a pair of activist investors. The Texas oil Continue Reading
Exxon Mobil Corp. shareholders should reject activist investor Engine No. 1’s proposals at the company’s annual meeting, the oil giant said Monday in a preliminary proxy filing. The company said shareholders should Continue Reading
Exxon slashed its oil reserves by almost a third in what is the most radical reserve revision in the company’s modern history. The supermajor reported reserves totaling 15.3 billion barrels Continue Reading
ExxonMobil will sell most of its non-operated assets in the UK’s central and northern North Sea to private equity fund HitecVision for more than $1 billion, the U.S. supermajor said Continue Reading
Exxon Mobil Corp. has already upped its climate plans, only three months into an activist investor’s campaign to force change inside the company. Now the group, Engine No. 1, is pushing the Continue Reading
Globally integrated energy supermajor ExxonMobil was severely mauled during 2020. The company reported a massive 2020 full-year loss of $22 billion, its worst performance in roughly 40 years, after being Continue Reading
ExxonMobil ( NYSE: XOM ) booked its first annual loss since the 1999 merger of Exxon and Mobil, and the first annual loss in at least 40 years after the Continue Reading
ExxonMobil expects 2021 capital expenditures to decline 11-25% from 2020 levels as the company focuses on projects with lower breakevens amid an uncertain price environment, company executives said during a Continue Reading
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The chief executive officers of Exxon Mobil Corp. and Chevron Corp. spoke last year about combining the two largest U.S. oil companies, Dow Jones reported, citing people familiar with the Continue Reading
Exxon Mobil Corp. pledged to spend $3 billion on low-emission technologies through 2025 to address investor concerns over its environmental record, unveiling a plan that comprises several projects that have Continue Reading
The chief executives of Exxon Mobil Corp. XOM -2.65% and Chevron Corp. CVX -4.29% spoke about combining the oil giants after the pandemic shook the world last year, according to people familiar with the talks, testing the waters for what Continue Reading
Exxon Mobil Corp. XOM -1.13% is preparing to make changes to its board and adopt further measures to reduce its carbon footprint as the beleaguered energy giant faces pressure from a pair of activist investors. The Continue Reading
ExxonMobil is considering further cuts to capital expenditure, changes to its board and more investment in sustainable technologies after it held talks with activist investors engaged in a proxy battle Continue Reading
Engine No. 1, the new activist investor firm seeking long-term policy changes at Exxon, said on Wednesday it had formally nominated four independent director candidates to the supermajor’s board, continuing Continue Reading
Exxon Mobil Corp. disclosed emissions data on customers’ use of its fuels and other products for the first time after coming under pressure from investors. The oil giant’s so-called Scope 3 Continue Reading
ExxonMobil is on track to book another quarterly loss this year—its fourth consecutive loss in 2020—announcing that it expects to book a massive up to $20-billion write-down for Q4, the Continue Reading
This is a big story about what Exxon Mobil knows. But it’s also about what Exxon—and its peers in the oil industry as a whole—want investors, decision makers and the Continue Reading
t was February 2019, and Exxon Mobil Corp. was ready to make one of the largest-ever investments in a U.S. hub for overseas shipments of liquefied natural gas. The $10 billion project Continue Reading
Oil major Exxon Mobil Corp said on Monday it planned to reduce its greenhouse gas emissions over the next five years, an official said. Pete Trelenberg, the ExxonMobil Director of Continue Reading
ExxonMobil on Monday said it would reduce its greenhouse gas emissions, bending to pressure from investors that have been calling on the oil giant to address the risks posed to Continue Reading
ExxonMobil said Dec. 14 it has added reductions in greenhouse gas emissions over the next five years to support Paris Agreement climate change goals. The major’s 2025 greenhouse gas (GHG) Continue Reading
Exxon Mobil Corp. entered 2020 with a multiyear growth plan projected to significantly increase its greenhouse-gas emissions. Then came Covid-19 and criticism from activist investors over its record on climate Continue Reading
ExxonMobil plans to reduce the greenhouse gas emissions from its global upstream operations by 2025, in support of the Paris Agreement, the U.S. supermajor said on Monday, days after it Continue Reading
Over the last 135 years, Exxon Mobil has survived hostile governments, ill-fated investments and the catastrophic Exxon Valdez oil spill. Through it all, the oil company made bundles of money. Continue Reading
A giant oil company like Exxon Mobil Corp. will publicly disclose forward-looking numbers on production forecasts, earnings potential and capital expenditures. But the biggest fossil-fuel producers don’t provide short-term guidance to Continue Reading
Exxon Mobil Corp. is about to incur the biggest writedown in its modern history. (Bloomberg) — Exxon Mobil Corp. is about to incur the biggest writedown in its modern history Continue Reading
Exxon Mobil Corp. is suspending employee bonuses for this year. (Bloomberg) — Exxon Mobil Corp. is suspending employee bonuses for this year after the crude-market collapse spurred a record run Continue Reading
