Welcome to our dedicated page for Exxon Mobil news (Ticker: XOM), a resource for investors and traders seeking the latest updates and insights on Exxon Mobil stock.
Exxon Mobil Corporation (XOM) provides comprehensive energy solutions through global exploration, refining, and chemical manufacturing operations. This news hub offers investors and industry professionals direct access to the company's official communications and market-moving developments.
Track ExxonMobil's latest press releases including quarterly earnings disclosures, operational updates, and strategic initiatives. Our curated collection features verified announcements on production milestones, partnership agreements, and sustainability efforts without editorial commentary.
Key updates cover exploration activities, refinery capacity changes, petrochemical innovations, and energy transition projects. Bookmark this page for real-time access to XOM's regulatory filings, leadership statements, and industry position updates essential for market analysis.
Exxon Mobil Corporation (NYSE:XOM) reported third-quarter 2022 earnings of $19.7 billion, or $4.68 per share, aided by rigorous cost control and increased production, particularly with record levels in the Permian. Cash flow reached $24.4 billion with free cash flow hitting $22 billion. The company declared a dividend of $0.91 per share, marking 40 consecutive years of growth. It also signed a landmark agreement for carbon capture aiming to store up to 2 million metric tons of CO2 annually.
Exxon Mobil Corporation will announce its third quarter 2022 financial results on October 28, 2022, at 5:30 a.m. CT. Following the release, a live conference call will be held at 7:30 a.m. CT, featuring CEO Darren Woods, CFO Kathy Mikells, and VP of Investor Relations Jennifer Driscoll. Investors can join the call by phone or via a webcast. Archive details will be available on ExxonMobil's IR page.
ExxonMobil announced significant advancements in its offshore activities in Guyana, with approximately 360,000 barrels per day production in Q3 and a target of over one million barrels per day by 2030. The company reported two new discoveries at the Sailfin-1 and Yarrow-1 wells in the Stabroek block, contributing to a total of over 30 discoveries since 2015. The first two sanctioned projects have exceeded production expectations, while a third, Payara, is set for startup by the end of 2023. ExxonMobil's commitment to responsible development is evident as it aims to meet global energy demands.
ExxonMobil has announced the sale of the Billings refinery and select midstream assets to Par Pacific Holdings. This transaction includes the Silvertip pipeline and interests in the Yellowstone pipeline and product terminals in Montana and Washington. The deal will allow ExxonMobil to focus on higher-value manufacturing, while employees will be offered positions at Par Pacific. The sale is expected to close in Q2 2023, subject to regulatory approvals. Par Pacific will maintain the Exxon and Mobil-branded service stations in the region.
FLO and Imperial have announced a collaboration to expand the electric vehicle (EV) charging network in Canada, supporting the country's net-zero greenhouse gas emissions goals. The partnership will allow Esso- and Mobil-branded gas stations to offer FLO charging services. This initiative aims to enhance the deployment of EV charging stations, generating financial benefits for FLO and improving charging access nationwide. Both companies emphasize the importance of lower-emission technologies in achieving Canada's climate objectives.
Imperial Oil will host its Q3 2022 Earnings Call on October 28 at 9 a.m. MT, following the earnings release that morning. Chairman and CEO Brad Corson will make opening remarks before a Q&A session with analysts. Interested parties can register for the webcast via the link provided. The call will be accessible for one year on Imperial's website. If technical issues arise, updates will be available on the company's site or on SEDAR. Imperial Oil emphasizes its role as Canada's largest petroleum refiner and commitment to high standards across its operations.
EnLink Midstream has signed a transportation service agreement (TSA) with ExxonMobil to utilize its pipeline network for carbon dioxide delivery in Louisiana. The agreement allows for an ultimate capacity of 10 million metric tonnes per year, starting with 3.2 million metric tonnes in early 2025. This project aims to support decarbonization efforts in a region emitting approximately 80 million metric tonnes of CO2 annually. Both companies see this as a vital step toward reducing emissions and meeting environmental goals.
CF Industries has partnered with ExxonMobil to capture up to 2 million metric tons of CO2 annually from its
Imperial has secured a long-term contract with Air Products to supply low-carbon hydrogen for its renewable diesel complex at the Strathcona refinery in Alberta. The agreement supports the construction of a hydrogen plant that will help produce over 1 billion liters of renewable diesel annually, significantly reducing greenhouse gas emissions. Air Products is investing CAD 1.6 billion to enhance its Edmonton facility, intending to supply approximately 50% of the hydrogen output for this project. The renewable diesel initiative is set to create around 600 construction jobs and is expected to reduce emissions by 3 million tonnes per year.
ExxonMobil affiliates have agreed to sell their interests in the Aera oil-production operation in California to Green Gate Resources E, LLC, a subsidiary of IKAV. The transaction comprises a share sale of Mobil California Exploration & Producing Asset Company along with an associated loading facility and pipeline system. This divestiture aligns with ExxonMobil's strategy to focus on low-cost oil and gas investments to enhance shareholder value. The sale, which is expected to close in Q4 2022, does not impact ExxonMobil's retail network in California.
