Welcome to our dedicated page for Exxon Mobil Corporation news (Ticker: XOM), a resource for investors and traders seeking the latest updates and insights on Exxon Mobil Corporation stock.
Exxon Mobil Corporation, trading under the symbol XOM, is an American multinational oil and gas giant, and the largest direct descendant of John D. Rockefeller's Standard Oil. As an integrated oil and gas company, ExxonMobil is involved in the exploration, production, and refining of oil worldwide.
In 2023, ExxonMobil reported daily production of 2.4 million barrels of liquids and 7.7 billion cubic feet of natural gas. By the end of the same year, the company's reserves stood at 16.9 billion barrels of oil equivalent, with 66% comprising liquids. The company also boasts a global refining capacity of 4.5 million barrels of oil per day, making it one of the largest refiners and a leading manufacturer of commodity and specialty chemicals.
ExxonMobil continuously engages in numerous projects and partnerships aimed at maintaining and enhancing its operations. The company's financial health remains robust, supported by its extensive reserve base and large-scale operations across various segments of the oil and gas industry.
For more detailed and up-to-date information on ExxonMobil's latest news and developments, visit the StockTitan website.
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Imperial Oil Limited (TSE: IMO, NYSE American: IMO) announced a substantial issuer bid to purchase for cancellation up to $1.5 billion of its common shares. The Offer had a tender price range from $78.50 to $94.00 per Share and was oversubscribed, resulting in the purchase of approximately $1.5 billion and 3.4 percent of the total number of issued shares. Exxon Mobil Corporation, Imperial’s majority shareholder, made a proportionate tender under the Offer and will maintain its proportionate Share ownership at approximately 69.6 percent following completion of the Offer.
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ExxonMobil (XOM) expects to deliver around $14 billion of further earnings and cash flow growth potential over the next four years. The company anticipates capital investments to generate average returns of approximately 30%, with payback periods of less than 10 years for over 90% of the capex. ExxonMobil is pursuing over $20 billion in lower emissions opportunities, up $3 billion, and has generated $9 billion in structural cost savings with $6 billion more expected by 2027. The company is increasing the pace of share repurchases to $20 billion per year from the Pioneer close through 2025, assuming reasonable market conditions.
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ExxonMobil (XOM) announces the start of production at Payara, Guyana's third offshore oil development on the Stabroek Block, bringing total production capacity to approximately 620,000 barrels per day. The Prosperity FPSO vessel is expected to add 220,000 barrels per day, with plans for more capacity in the future. The company aims to have six FPSOs in operation by 2027, supporting economic development and reducing greenhouse gas intensity. The project also involves significant investment in the local workforce and suppliers, benefiting Guyanese communities.
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Exxon Mobil Corporation (NYSE: XOM) plans to become a leading producer of lithium in North America, targeting first production in 2027. This domestic sourcing initiative aims to contribute to energy security, support manufacturing, and advance U.S. climate policy objectives with significantly fewer environmental impacts. The project demonstrates ExxonMobil’s leadership in the energy transition, with the product branded as Mobil Lithium.
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Exxon Mobil Corporation announced the appointment of Dina Powell McCormick to its board of directors, effective January 1. Ms. Powell McCormick, a distinguished executive with extensive experience in international diplomacy, national security, and global financial markets, is expected to bring valuable insight and leadership to the company.
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Denbury Inc. (NYSE:DEN) will be removed from the Tortoise Recycling Decarbonization IndexSM (RCYCL) and the Tortoise Recycling Decarbonization UCITSSM Index (RECYCLE) due to its approved acquisition by Exxon Mobil Corp (NYSE:XOM). The removal will take place at market open on Friday, November 3, 2023. The indices will not require special rebalancing and the weight of DEN will be distributed proportionally to the remaining constituents.
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Exxon Mobil Corporation has completed its acquisition of Denbury Inc. in an all-stock transaction valued at $4.9 billion. Denbury shareholders will receive 0.84 shares of ExxonMobil for each Denbury share. This acquisition strengthens ExxonMobil's Low Carbon Solutions business and expands its low-carbon leadership. ExxonMobil now owns the largest CO2 pipeline network in the U.S. and has access to strategic CO2 storage sites. The acquisition also includes Gulf Coast and Rocky Mountain oil and natural gas operations.
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Denbury stockholders approve merger with ExxonMobil. The merger agreement states that ExxonMobil will acquire all outstanding shares of Denbury at an exchange ratio of 0.84 shares of ExxonMobil for each Denbury share. Over 75% of total shares outstanding and 99% of shares voted supported the merger. The transaction is expected to close on November 2, 2023.
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Imperial Oil Limited has announced a substantial issuer bid to purchase up to $1.5 billion of its common shares. The offer will proceed through a modified Dutch auction with a tender price range of $78.50 to $94.00 per share. The offer is expected to commence on November 3, 2023, and remain open until December 8, 2023. Exxon Mobil Corporation, Imperial's majority shareholder, will make a proportionate tender to maintain its ownership at approximately 69.6%.
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Imperial Oil Limited has announced a substantial issuer bid to purchase up to $1.5 billion of its common shares. The offer will commence in the next two weeks and be completed before the end of December 2023. ExxonMobil intends to make a proportionate tender to maintain its ownership at approximately 69.6 percent.
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FAQ
What is the current stock price of Exxon Mobil Corporation (XOM)?
The current stock price of Exxon Mobil Corporation (XOM) is $121.93 as of November 21, 2024.
What is the market cap of Exxon Mobil Corporation (XOM)?
The market cap of Exxon Mobil Corporation (XOM) is approximately 528.8B.
What does ExxonMobil do?
ExxonMobil is an integrated oil and gas company involved in the exploration, production, and refining of oil globally.
How much oil and gas did ExxonMobil produce in 2023?
In 2023, ExxonMobil produced 2.4 million barrels of liquids and 7.7 billion cubic feet of natural gas per day.
What were ExxonMobil's reserves at the end of 2023?
At the end of 2023, ExxonMobil's reserves were 16.9 billion barrels of oil equivalent, with 66% being liquids.
How large is ExxonMobil's refining capacity?
ExxonMobil has a global refining capacity of 4.5 million barrels of oil per day.
Is ExxonMobil involved in chemical manufacturing?
Yes, ExxonMobil is one of the world's largest manufacturers of commodity and specialty chemicals.
What is ExxonMobil's stock symbol?
ExxonMobil trades under the symbol XOM.
Who founded ExxonMobil?
ExxonMobil is the largest direct descendant of John D. Rockefeller's Standard Oil.
How can I stay updated about ExxonMobil's latest news?
You can stay updated on ExxonMobil's latest news by visiting the StockTitan website.
What makes ExxonMobil significant in the oil and gas industry?
ExxonMobil's extensive production, large reserve base, and significant refining capacity make it a major player in the oil and gas industry.
Does ExxonMobil partner with other companies?
Yes, ExxonMobil engages in various projects and partnerships to enhance its operations.
Exxon Mobil Corporation
NYSE:XOM
XOM Rankings
XOM Stock Data
528.81B
4.39B
0.05%
65.69%
1.03%
Oil & Gas Integrated
Petroleum Refining
United States of America
SPRING