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.
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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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Imperial Oil Limited declares a quarterly dividend of 50 cents per share, payable on January 1, 2024. The company has a long history of growth and financial stability, paying dividends for over a century and increasing its annual dividend payment for 29 consecutive years.
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Imperial reported strong financial results in the third quarter, with a net income of $1,601 million and cash flow from operating activities of $2,359 million. Upstream production averaged 423,000 gross oil-equivalent barrels per day, with record production at Kearl. Downstream operations performed well with refinery capacity utilization of 96%. The company returned over $3.4 billion to shareholders and plans to initiate a substantial issuer bid to return up to $1.5 billion in the fourth quarter. Imperial also released its Advancing Climate Solutions report, highlighting its commitment to reducing greenhouse gas emissions.
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Exxon Mobil Corporation reported strong third-quarter earnings of $9.1 billion, or $2.25 per share. They generated $16.0 billion of operating cash flow and increased cash balance by $3.4 billion. The company delivered the best-ever third-quarter global refinery throughput at 4.2 million barrels per day. They returned $8.1 billion to shareholders in the quarter and increased the fourth-quarter dividend to $0.95 per share. Exxon Mobil also announced a merger with Pioneer Natural Resources.
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