Exxon Mobil Corporation - XOM STOCK NEWS

The Board of Directors of Exxon Mobil Corporation declared a cash dividend of $0.88 per share on its Common Stock, payable on March 10, 2022. Shareholders of record as of February 10, 2022 will receive this dividend. This first-quarter dividend matches the previous quarter's amount and reflects the company's commitment to sharing its success with investors, having increased annual dividends for 39 consecutive years.

Exxon Mobil Corporation will release its fourth quarter 2021 financial results on February 1, 2022, at 6:30 a.m. CT. A press release will be available on their official website. CEO Darren Woods, CFO Kathy Mikells, and VP of Investor Relations Stephen Littleton will hold a conference call at 8:30 a.m. CT to discuss the results, accessible via a webcast or by phone. An archive will be provided on their investor relations page.

Imperial Oil has announced plans to reduce its greenhouse gas emissions intensity from oil sands operations by 30% by 2030, using next-generation technologies and carbon capture solutions. The company reaffirms its goal for net zero emissions by 2050, collaborating with governments and industry partners. This initiative builds on a successful 20% reduction in emissions intensity from 2013 to 2016, supported by $2.1 billion invested in research and technology. Imperial is a founding member of the Oil Sands Pathways to Net Zero alliance, aiming to achieve net zero emissions in oil sands operations by 2050.

ExxonMobil aims for net-zero greenhouse gas emissions from its operated assets by 2050, focusing on comprehensive emission-reduction roadmaps. Key initiatives include 2030 emission-reduction plans targeting a 20-30% reduction in corporate-wide greenhouse gas intensity and significant reductions in methane and flaring emissions. The company pledges over $15 billion investment in lower-emission technologies by 2027, emphasizing carbon capture, hydrogen, and biofuels. ExxonMobil's strategy aligns with various net-zero scenarios and aims to ensure resilience while creating shareholder value.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) will host its 2021 Fourth Quarter Earnings Call on February 1, starting at 9 a.m. MT. CEO Brad Corson will provide brief remarks before addressing questions from analysts. The earnings release will take place earlier that day. The event will be available via webcast, which will be accessible for one year on the company's investor relations website. Imperial Oil is a leading player in Canada's energy sector, focusing on responsible resource development.

Imperial Oil (NYSE American: IMO) announced plans to market its 50% interest in XTO Energy Canada, a joint venture with ExxonMobil Canada. This includes substantial assets in the Montney and Duvernay shale areas of Alberta, covering 568,000 net acres in Montney and 85,000 net acres in Duvernay. Net production from these assets totals approximately 140 million cubic feet of natural gas and 9,000 barrels of oil per day. The company continues operations as normal during this evaluation, retaining RBC Capital Markets as a financial advisor.

ExxonMobil has acquired a 49.9% stake in Biojet AS, a Norwegian company focused on producing lower-emissions biofuels from wood waste. This agreement allows ExxonMobil to purchase up to 3 million barrels of biofuels annually. Biojet AS plans to build five facilities, with commercial production starting in 2025.

The project is expected to significantly reduce greenhouse gas emissions in the transportation sector, meeting advanced fuel requirements in Norway and the EU. ExxonMobil continues its commitment to invest in lower-emission energy solutions.

ExxonMobil announced two significant oil discoveries at Fangtooth-1 and Lau Lau-1 in the Stabroek block offshore Guyana. The Fangtooth-1 well revealed approximately 164 feet of high-quality oil-bearing sandstone, while Lau Lau-1 showed about 315 feet. These findings contribute to the estimated 10 billion oil-equivalent barrels in recoverable resources. The company's strategy of exploring deeper targets supports growth, employing over 3,200 locals and investing more than $540 million with over 800 local companies since 2015.

Imperial Oil has updated its corporate guidance for 2022, emphasizing a strategy focused on maximizing asset performance and prioritizing shareholder returns. Capital expenditure is projected at $1.4 billion, supporting key projects such as the Kearl in-pit tailings and Sarnia products pipeline. Upstream production is estimated between 425,000 and 440,000 barrels per day, with Kearl aiming for 280,000 barrels daily ahead of schedule. Downstream throughput is expected to be 395,000 to 405,000 barrels per day with utilization rates at 92% to 94%.