Exxon Mobil Corporation - XOM STOCK NEWS

The Board of Directors of Exxon Mobil Corporation has declared a cash dividend of $0.88 per share, payable on December 10, 2021 to shareholders of record as of November 12, 2021. This reflects an increase from the $0.87 dividend paid in the third quarter of 2021. Exxon Mobil has consistently shared its success with shareholders for over a century, increasing its annual dividend payments for 39 consecutive years.

Exxon Mobil Corporation (NYSE:XOM) will announce its third quarter 2021 financial results on October 29, 2021, at 6:30 a.m. CT. A press release and supplementary financial data will be accessible at www.exxonmobil.com. Following the release, a conference call led by CEO Darren Woods, CFO Kathryn Mikells, and VP Stephen Littleton will review the results at 8:30 a.m. CT. Interested parties can join via webcast or by phone.

ExxonMobil announced plans to expand carbon capture and storage (CCS) at its LaBarge facility in Wyoming, aiming to capture an additional 1 million metric tons of CO₂ annually. This project represents a $400 million investment towards emission reduction. ExxonMobil currently captures about 6-7 million metric tons of CO₂ yearly at LaBarge, which accounts for nearly 20% of global CO₂ captured. Bids for engineering, procurement, and construction contracts have been requested, with operations expected to begin by 2025, pending regulatory approvals.

Imperial Oil Limited (TSE: IMO, NYSE American: IMO) has announced its 2021 Third Quarter Earnings Call, scheduled for October 29 at 9 a.m. MT. CEO Brad Corson will provide brief remarks before addressing analyst questions. This call follows the company's earnings release earlier that morning, allowing investors to gauge Imperial's financial performance.

Imperial remains a leader in Canada's energy sector, focusing on innovation and technology in petroleum refining, crude oil production, and petrochemicals.

ExxonMobil plans to establish a large-scale advanced recycling facility in Baytown, Texas, aiming for operations to commence by year-end 2022. This facility will be one of North America's largest, with an initial capacity to recycle 30,000 metric tons of plastic waste annually. By year-end 2026, ExxonMobil seeks to expand its recycling capacity to 500,000 metric tons across multiple sites. Additionally, the company has successfully recycled over 1,000 metric tons of plastic waste to date and is focused on increasing certified circular polymer supply.

ExxonMobil has increased its estimate of recoverable resources for the Stabroek Block offshore Guyana to about 10 billion oil-equivalent barrels. The latest addition comes from the new Cataback-1 well, which encountered 243 feet of net pay in high-quality reservoirs. This brings the total significant discoveries in the block to over 20. The company has contributed over $480 million to the Guyanese economy and employs more than 2,850 locals in its projects. ExxonMobil operates the block with a 45% interest alongside Hess and CNOOC.

ExxonMobil has signed an Expression of Interest to enhance its participation in the Acorn carbon capture and storage project in Scotland, capturing CO₂ emissions from its Fife Ethylene Plant. This follows a prior agreement for emissions from St Fergus gas terminals. The Acorn project aims to capture and store 10 million metric tons of CO₂ annually by 2030, potentially rising to 20 million by the mid-2030s. Recent infrastructure upgrades at Fife improve emissions reductions, aligning with the company's commitment to low-carbon solutions.

ExxonMobil has made significant discoveries in the Stabroek Block offshore Guyana, adding to its recoverable resource estimate of approximately 9 billion oil equivalent barrels. The Pinktail well encountered 220 feet of high-quality hydrocarbon-bearing sandstone, while the Turbot-2 well revealed 43 feet of additional net pay. The Liza Unity FPSO vessel, set to begin production in early 2022, has a capacity of 220,000 barrels per day. ExxonMobil aims to have at least six projects operational by 2027, enhancing its resource base and value for shareholders.

ExxonMobil has initiated the certification process for natural gas at its Poker Lake facility in New Mexico, becoming the company’s first site for such certification. This process will adhere to stringent criteria set by the independent validator MiQ, aimed at validating ExxonMobil's efforts to reduce methane emissions. The certified natural gas could be available to customers by Q4 2021, as ExxonMobil seeks to enhance its operational transparency and support its clients' emissions goals while promoting a lower-carbon future.