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 reported a significant loss of $20.1 billion for Q4 2020, equating to $4.70 per share. This loss, driven by the pandemic's impact, resulted in annual earnings dropping substantially from $14.3 billion in 2019 to a loss of approximately $23.3 billion for the year. The company reduced capital expenditures to $21.4 billion, a decrease of $9.8 billion from 2019. Despite challenges, ExxonMobil aims for structural cost savings of $6 billion annually by 2023 while focusing on high-return investments and maintaining dividends.
ExxonMobil has launched a new business, ExxonMobil Low Carbon Solutions, to commercialize its low-carbon technology portfolio, initially focusing on carbon capture and storage (CCS). The company plans to invest $3 billion in lower emission energy solutions by 2025. With over 30 years of experience in CCS, ExxonMobil aims to reduce emissions significantly and is evaluating more than 20 CCS projects globally. The business will also market emission-reduction credits and explore partnerships in innovative energy technologies.
Exxon Mobil Corporation (NYSE:XOM) has elected Len M. Fox as vice president and controller, effective March 1, 2021, succeeding David Rosenthal who will retire around July 1, 2021. Fox, with ExxonMobil since 1988, has held various senior roles, including treasurer for ExxonMobil Chemical Company. Rosenthal has been with the company since 1979, serving as vice president and controller since 2014. ExxonMobil continues to focus on innovation and technology to meet global energy demands, positioning itself as a leading player in the international energy sector.
The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) has declared a cash dividend of $0.87 per share on Common Stock. This dividend is scheduled for payment on March 10, 2021, to shareholders on record as of February 10, 2021. This amount matches the previous quarter's dividend, reflecting the company's consistent commitment to shareholder returns, having shared its success through dividends for over 100 years.
Exxon Mobil Corporation (NYSE:XOM) addressed the nominations by Engine No. 1 for its board at the 2021 annual meeting. The company has been in discussions with Engine No. 1 since mid-December and will evaluate the nominations per its by-laws. ExxonMobil emphasizes its commitment to enhancing long-term shareholder value and addressing climate change with technology initiatives. The company aims to lower costs and improve operational efficiency to boost shareholder returns and maintain a strong dividend.
Exxon Mobil Corporation (NYSE:XOM) will release its fourth quarter 2020 financial results on February 2, 2021. The press release will be available at 6:30 a.m. CT on the company's website. Following this, CEO Darren Woods and VP of Investor Relations Stephen Littleton will host a conference call at 8:30 a.m. CT to review the results. Investors can access the call via webcast or phone. An archive of the call and supplemental financial information will also be provided on the website.
ExxonMobil has announced plans to significantly reduce greenhouse gas emissions by 2025, aiming for a 15-20% decrease in upstream emissions intensity relative to 2016 levels. The strategy includes a 40-50% reduction in methane intensity and a 35-45% decrease in flaring intensity. The company emphasizes support for the Paris Agreement and intends to align with the World Bank's initiative to eliminate routine flaring by 2030. ExxonMobil has invested over $10 billion in lower-emission technologies since 2000 and will provide annual reports on Scope 3 emissions, advocating for comprehensive policies to tackle climate change.
ExxonMobil has updated its business strategy, prioritizing capital spending on high-value assets, notably in Guyana and the U.S. Permian Basin. CEO Darren Woods highlighted improved exploration successes and reduced development costs, which enhance the company's investment portfolio. ExxonMobil plans capital expenditures of $16 billion to $19 billion in 2021 and aims to double earnings by 2027. Notably, a non-cash impairment charge of $17 billion to $20 billion will result from removing less strategic assets from its development plan. The company anticipates improved cash flow conditions despite ongoing COVID-19 challenges.
Exxon Mobil Corporation (NYSE:XOM) reported a third-quarter 2020 loss of $680 million, equating to a loss of $0.15 per share, significantly impacted by COVID-19 related demand declines. Capital expenditures reached $4.1 billion, down from $7.7 billion in the previous year. Oil-equivalent production was 3.7 million barrels per day, up 1% from Q2 2020. The company expects 2021 capital spending to range between $16 billion and $19 billion, optimizing costs and exploring structural efficiencies. ExxonMobil is progressing projects in Guyana, adding to estimated recoverable resources of nearly 9 billion barrels.
Exxon Mobil Corporation (NYSE:XOM) has declared a cash dividend of $0.87 per share, scheduled for payment on December 10, 2020. Shareholders of record as of November 12, 2020 will receive this dividend, which maintains the same level as the third-quarter dividend. Exxon Mobil has a long-standing tradition of returning value to its shareholders, having done so for over 100 years.
