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 (NYSE: XOM) generates frequent news and disclosures as one of the largest publicly traded international energy and petrochemical companies. Its updates cover developments across its Upstream, Product Solutions and Low Carbon Solutions businesses, as well as capital markets activity and corporate governance changes. This news page aggregates those announcements so readers can review company‑issued information in one place.
Investors and followers of XOM can find coverage of quarterly earnings releases, where ExxonMobil reports segment‑level earnings, production volumes, refining throughput, product sales, cash flow from operations, and capital expenditures. The company also issues news and related Form 8‑K filings when it provides earnings considerations documents, updates its Corporate Plan through 2030, or schedules upcoming financial results releases and conference calls.
Beyond financial results, ExxonMobil news includes items on its Corporate Plan outlook, structural cost savings, and the role of advantaged assets in the Permian Basin, Guyana, and LNG within its Upstream segment. In Product Solutions, news highlights record refinery throughput, high‑value product sales in Chemical and Specialty Products, and acquisitions that support entry into areas such as battery anode materials. Low Carbon Solutions‑related news covers carbon capture and storage projects, contracts for CO₂ volumes, and CCS‑enabled low‑carbon data center concepts.
Governance and leadership updates are also reported, such as the election of new directors to the board, committee assignments, and changes in senior executive roles disclosed via 8‑K filings. For anyone tracking XOM stock, this page offers a central view of ExxonMobil’s official press releases and regulatory news, helping users follow how the company describes its performance, strategic priorities, and lower‑emissions initiatives over time.
ExxonMobil has partnered with QatarEnergy to enhance the North Field East project, increasing Qatar's LNG production capacity from 77 million tons to 110 million tons annually by 2027. ExxonMobil will hold a 25% stake in a new joint venture, allowing it to boost its LNG volumes to between 52 to 60 million tons per year. The agreement emphasizes the companies' commitment to providing cleaner energy on a global scale. The first LNG from this expansion is expected in 2025.
ExxonMobil has responded to a letter from President Biden, emphasizing its substantial investments in U.S. oil and gas. Over the last five years, the company has invested more than $50 billion, resulting in a nearly 50% increase in U.S. oil production. ExxonMobil has globally invested $118 billion for new oil and gas supplies, despite earning only $55 billion in net income. The company aims to enhance U.S. refining capacity by 250,000 barrels per day. It also urges the government to adopt clear policies to support resource development.
Imperial Oil Limited (NYSE American: IMO) has completed its share buyback, purchasing 32,467,532 shares at $77.00 each, totaling $2.5 billion. This acquisition represents 4.9% of the company's outstanding shares as of May 2, 2022. The buyback was oversubscribed, with 96% of tendered shares accepted, including a proportionate tender from majority shareholder ExxonMobil, maintaining its 69.6% ownership. Shareholders will receive a deemed dividend of $75.25 per share. Payment will occur by June 21, 2022.
Imperial Oil Limited (NYSE: IMO) announced the preliminary results of its substantial issuer bid, offering to purchase up to $2.5 billion of its common shares. The offer utilized a modified Dutch auction with a price range of $62.00 to $78.00 per share and expired on June 10, 2022. The company expects to buy approximately 32.5 million shares at $77.00 each, representing 4.9% of its outstanding shares. Shareholders tendering at or below the purchase price will experience a prorated buyback, while ExxonMobil maintains a 69.6% ownership post-offer.
Christian Brothers Investment Services (CBIS) announced that a shareholder proposal urging ExxonMobil (XOM) to assess the impact of climate change on its business has received a majority vote at the annual meeting. The proposal, supported by faith-based and socially responsible investors, seeks a detailed report on how the International Energy Agency's Net Zero 2050 Scenario could affect Exxon's financial statements. CBIS emphasizes the need for transparency in light of global net-zero commitments and highlights a lack of quantifiable disclosures in Exxon's current reports.
ExxonMobil plans to strengthen shareholder value by addressing global energy needs and reducing greenhouse gas emissions. During its annual shareholders meeting, CEO Darren Woods outlined a strategy focused on five operational priorities, including financial performance and innovation. The company has streamlined its operations into three core businesses and aims for $9 billion in annual cost savings by 2023, alongside investing over $15 billion in emissions-reduction initiatives through 2027. In 2021, ExxonMobil reported earnings of $23 billion and cash flow of $48 billion, marking significant improvements.
ExxonMobil has agreed to sell its Barnett Shale gas assets in Texas to BKV Corporation for $750 million, with potential additional payments tied to future natural gas prices. The transaction aligns with ExxonMobil's strategy to focus on high-return investments and was initiated after these assets were excluded from the development plan in 2020. The sale is expected to close in the second quarter of 2022, ensuring full employment offers for affected personnel. This move aims to strengthen ExxonMobil's competitive positioning in the market.
Imperial Oil Limited (TSE: IMO, NYSE American: IMO) reported that all seven director nominees were elected at its annual shareholders meeting on May 3, 2022. A total of 606,381,191 shares, representing 90.62% of outstanding shares, were voted. The voting results for each nominee show strong support, with over 540 million votes in favor for each director. Imperial continues to assert its position as Canada's largest petroleum refiner and a major crude oil producer, committed to high standards in the development of energy resources.
ExxonMobil has agreed to sell its Romanian upstream affiliate to Romgaz for over $1 billion, subject to government approvals. This sale aligns with ExxonMobil's strategy to focus on investments in advantaged assets with a low cost of supply, specifically the Neptun Deep project in the Black Sea. The transaction is expected to close in the second quarter of 2022, transferring operatorship of the XIX Neptun Block to OMV Petrom and employees will transition along with the sale.
Imperial Oil Limited has announced a substantial issuer bid to purchase for cancellation up to $2.5 billion of its common shares. The offer, which will use a modified Dutch auction format, is expected to commence on May 6, 2022 and remain open until June 10, 2022. The purchase price per share will range from $62.00 to $78.00. ExxonMobil, holding approximately 69.6% of shares, plans to participate proportionately to maintain its ownership stake.