Exxon Mobil Corporation - XOM STOCK NEWS

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) will host its 2023 First Quarter Earnings Call on Friday, April 28, at 9 a.m. MT. During the call, chairman and CEO Brad Corson will provide remarks before addressing questions from analysts. The earnings release will be available that morning, and the event will be accessible via webcast. Should any technical issues arise during the filing of the Form 8-K, investors can find updates on Imperial's website or on Canada's SEDAR system. As an industry leader in energy resource development, Imperial continues to emphasize its commitment to technology and innovation in refining and production.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) will host its 2023 Investor Day on April 19 at 9 a.m. EST. The event will feature presentations from chairman and CEO Brad Corson and VP of investor relations Dave Hughes, focusing on the company’s operations and business strategy. A question-and-answer session will follow. Interested parties can register for the live webcast through the company’s website, where a recording will be available for one year. Imperial is recognized as Canada’s largest petroleum refiner and a major crude oil producer, committed to high standards and innovation in developing the country’s energy resources.

Imperial has appointed J.R. (Jon) Wetmore as the new Americas Fuels Value Chain Planning & Business Development Manager for Exxon Mobil Corporation (NYSE:XOM), effective May 1, 2023. Wetmore, previously Vice President of Downstream and Chemicals at Imperial, has a tenure noted for driving record performance across various market conditions and advancing the renewable diesel project at the Strathcona refinery in Edmonton, Alberta. His extensive industry experience spans over 29 years, including roles in the United States and Europe. A successor for Wetmore at Imperial will be announced later.

ExxonMobil has successfully completed the expansion of its Beaumont refinery, marking the largest U.S. refinery expansion since 2012. The $2 billion project boosts production capacity by 250,000 barrels per day, bringing total refinery capacity to over 630,000 barrels per day. This expansion, timed to meet increasing post-pandemic energy demands, was executed on schedule and within budget, employing more than 1,700 contractors. ExxonMobil's integrated operations in Beaumont notably enhance their strategic edge in processing Permian Basin crude oil, ensuring a robust supply of essential fuels.

Exxon Mobil Corporation will host a virtual Low Carbon Solutions spotlight on April 4, 2023, at 9:00 a.m. CT. Key executives, including Darren Woods and Kathy Mikells, will discuss the growth of the Low Carbon Solutions business aimed at creating a lower-emission future. The event will feature a Q&A session and will be accessible via a webcast. Presentation materials and a replay will be available on the ExxonMobil Investor Relations website.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) has announced a quarterly dividend of 44 cents per share for Q1 2023, payable on April 1, 2023, to shareholders of record on March 3, 2023. This dividend remains unchanged from Q4 2022. With over a century in operation, Imperial has consistently paid dividends and has increased its annual payment for 28 consecutive years. The company is a leading player in Canada's petroleum industry, focusing on responsible energy resource development and maintaining high operational standards.

Imperial reported a robust fourth-quarter 2022 net income of $1,727 million, significantly up from $813 million in Q4 2021, representing a 114% increase. Cash flow from operating activities reached $2,797 million. The company achieved record upstream production of 441,000 gross oil-equivalent barrels per day, bolstered by strong performance at Kearl, Cold Lake, and Syncrude. Imperial returned over $2.1 billion to shareholders this quarter, including a first-quarter dividend of 44 cents per share. A major $720 million renewable diesel project was also approved, furthering Imperial's commitment to achieving net zero emissions by 2050.

Exxon Mobil Corporation (NYSE:XOM) reported a record-breaking $55.7 billion in earnings for 2022, alongside a cash flow from operations of $76.8 billion. The company achieved over 30% year-over-year production growth in Guyana and the Permian region and set its highest annual refining throughput globally since 2012. However, the fourth quarter of 2022 saw earnings drop to $12.8 billion due to additional European taxes and asset impairments. ExxonMobil plans to invest $22.7 billion in capital projects while extending its share-repurchase program up to $35 billion in 2023-2024. The net-debt-to-capital ratio improved to approximately 5%, enhancing financial flexibility.