Exxon Mobil Corp

The owners of the 800-mile Trans-Alaska Pipeline System are seeking to renew its federal land authorization more than seven years before it expires, aiming to ensure the Trump administration makes the determination rather than his successor. The Interior Department has launched a formal review of the reauthorization application from Alyeska Pipeline Service Company, which operates the pipeline on behalf of owners Hilcorp Energy, ConocoPhillips, and Exxon Mobil. If successful, the bid would result in 30 more years of federal land authorizations, offering more certainty for a critical piece of U.S. oil infrastructure. The effort coincides with the Interior Department's preparation to ease environmental review requirements for some oil and gas exploration in Alaska's National Petroleum Reserve, part of Trump's push to speed energy development in the Arctic.

ExxonMobil's Permian Basin operations are driving upstream growth, with second-quarter 2026 production hitting a record of more than 1.8 million oil-equivalent barrels per day. Upstream earnings rose sequentially to $7.93 billion from $5.74 billion, and advantaged volume growth added $1.14 billion year over year, mainly from the Permian and Guyana. Management targets a 9% production CAGR through 2030, aiming for Permian output of about 2.5 MMBoe/d and total upstream production of about 5.5 MMBoe/d by then. Advantaged assets are expected to make up around 65% of upstream production by 2030, supporting a target of more than $15 per barrel in upstream unit earnings. Other Permian producers are also expanding, with Diamondback Energy raising 2026 production guidance to at least 1 MMBoe/d and Matador Resources raising its total production guidance to 218,500-223,500 barrels of oil equivalent per day.

Exxon Mobil has resumed oil production at the Liza Unity floating production, storage and offloading vessel offshore Guyana after a small fire triggered an emergency halt, UpstreamOnline.com reported Wednesday. The company said operations have returned to normal and the temporarily interrupted offloading has been completed. Heat detectors activated in the FPSO living quarters' laundry room on Sunday indicated a small fire that was quickly extinguished, and production was suspended as part of an established safety response. The incident caused no injuries or major damages, but Guyana's Natural Resources Ministry will conduct a full investigation. The Liza Unity FPSO, producing at Guyana's Stabroek block since 2022 with no previous incidents, produced nearly 250K bbl/day of crude in 2025.

Shell is exploring a potential sale of its U.S. chemicals business, with ExxonMobil, LyondellBasell and other large industry players reported to have submitted offers. The move comes alongside recent portfolio sales in renewables and gas projects as Shell refines its asset mix and places greater emphasis on liquefied natural gas operations. If Shell proceeds with a sale around the reported $8 billion level, it would be a clear step toward concentrating capital in LNG and gas focused projects. Analysts already flag pressure in chemicals margins, so exiting the U.S. business could reduce that drag but may also limit upside if conditions stabilise.

Morgan Stanley chief U.S. equity strategist Michael Wilson warned that a renewed oil price spike is the single biggest near-term threat to American equities, calling the risk asymmetric because stocks get hurt more by a crude surge than they benefit from a dip. Wilson said equities historically face genuine trouble only when oil prices surge 75% to 100% year over year, a threshold crossed in just five of 23 geopolitical shock events his team studied. Morgan Stanley lifted its Brent crude forecast to around $90 in Q3, $100 in Q4, and $95 in Q1 2027, up from roughly $75 across all four quarters, and expects the Middle East supply recovery to extend well into 2027, keeping the market in deficit through Q4 2026 and Q1 2027. Wilson recommended energy shares such as Exxon Mobil and Chevron as a hedge, and reiterated his preference for quality stocks with high free cash flow and gross margins, while maintaining a year-end S&P 500 target of 7,800 to 8,000 contingent on stable or moderately rising oil prices.

The US Strategic Petroleum Reserve has fallen to 289.7 million barrels, its lowest level since November 1982, after a 3.7 million barrel draw last week, leaving the emergency buffer at just 41% of its 714 million barrel capacity. The drawdown is part of a planned 172 million barrel US contribution to an International Energy Agency release, and if completed, inventories could fall toward 243 million barrels, below the 252 million barrel threshold that restricts limited drawdowns under federal law. The Government Accountability Office found current effective drawdown capacity is about 2.7 million barrels per day versus a 4.4 million barrel design rate, with low cavern inventories contributing to limitations. Refilling the reserve would require buying roughly 200 million barrels, representing up to $18 billion in crude demand at $90 per barrel, a direct tailwind for upstream producers like Exxon Mobil and Chevron. The Energy Information Administration expects Middle Eastern production to return closer to pre-conflict levels in early 2027, but still sees about 600,000 barrels per day of disruption through the end of next year, while other chokepoints like the Strait of Malacca, Bab el-Mandeb, and the Turkish Straits remain vulnerable to disruption.

Iraq is seeking to more than double its oil production to between 8 million and 10 million barrels per day within six years, and three major U.S. energy companies are positioned to benefit. Chevron has signed memorandums of understanding for the West Qurna 2 and Nassiriya oil fields, with Iraq wanting Chevron to nearly double West Qurna 2's production to between 750,000 and 800,000 barrels per day. ConocoPhillips recently agreed to buy a 42% interest in BP Energy Company of Kirkuk, supporting redevelopment of four large-scale fields in northern Iraq, and is part of a consortium potentially developing the Akkas gas field. ExxonMobil signed an agreement last year to develop the Majnoon oilfield, which holds an estimated 38 billion barrels of oil in place, after leaving Iraq in 2023.

Exxon Mobil plans to transition half of its Permian Basin drilling fleet to automated rigs by 2028 as part of a push to boost production in the basin by nearly 40% to 2.5 million barrels of oil equivalent per day by 2030. The company currently operates more than 30 drilling rigs in the Permian, two of which are automated rigs with robotic equipment, including its first automated rig supplied by drilling contractor Helmerich & Payne installed last year. Bart Cahir, Exxon's senior vice president of unconventionals, told Reuters that removing workers from the rig floor reduces variability and allows them to focus on other operations, increasing drilling efficiency. Cahir noted that about a third of significant injuries in well drilling occur on the rig floor, so automation essentially eliminates that risk.

Diversified upstream E&P stocks delivered a strong second quarter, with the five companies tracked beating analysts' consensus revenue estimates by 9.7% as a group. ExxonMobil reported revenues of $116 billion, up 42.3% year over year and 6.8% above expectations, while Occidental Petroleum posted the biggest beat at 15.3% with revenues of $8.33 billion, up 57.1%. Chevron's revenues of $70.06 billion rose 56.3% and beat by 6.2%, Devon Energy's $6.89 billion was up 67.4% and beat by 10.3%, and ConocoPhillips' $19.52 billion rose 32.4% and beat by 9.6%. Share prices for the group have risen 10.9% on average since the latest earnings results.

ExxonMobil has made a final investment decision to expand blending capacity for its Proxxima polyolefin thermoset resin system in Louisiana. The project will add 120,000 tons per year of capacity, following the completion of a retrofit and expansion at a Texas blending facility that began operations in June 2025. Proxxima, launched in 2023, is used in wind turbine components, subsea pipeline coatings, rebar, automotive parts, and industrial coatings. Exxon expects its products solutions segment to deliver $9 billion in earnings growth by 2030 compared with 2024, with high-value products and new businesses like Proxxima contributing 40% of that growth. Longer term, the company sees new businesses including Proxxima reaching $13 billion in earnings by 2040, with a $100 billion total addressable market for Proxxima systems and carbon materials.

Exxon Mobil held approximately flat at $166.07 Friday afternoon after touching $168 earlier in the session, as tightening Iranian exports kept Brent crude near $94 per barrel. Iranian shipments dropped to approximately 534,000 barrels per day in August from a 2025 average of 1.4 million, while floating storage outside the blockade zone declined from roughly 105 million to 80 million barrels. Exxon enters that tightening market after producing second-quarter operating cash flow of $23.6 billion and free cash flow of $17.2 billion. The supply shock strengthens Exxon's upstream pricing, but expensive energy can revive inflation and weaken global demand. Exxon trades around 21 times earnings with a 2.5% dividend yield.

ExxonMobil could deliver a larger-than-expected dividend increase when it announces its next payout lift, likely in October. The oil giant has raised its dividend for 43 consecutive years, with recent annual increases of $0.04 per share quarterly, and Wall Street expects a similar $0.03 to $0.04 boost. However, ExxonMobil's $20 billion share buyback pace, $145 billion in projected surplus cash flow through 2030, and Brent crude trading near $89 per barrel could support a bigger hike. The company's 2.5% dividend yield and 52.5% payout ratio leave room for growth, and competitive pressure from higher-yielding energy stocks may push it to be more generous.

ExxonMobil has warned Kazakhstan that the Tengiz oil field, the country's largest, will hit its production peak next year and then decline nearly 40% by 2035 to around 500,000 barrels per day. The company sees potential growth from the Kashagan field, where a joint investment of $80 billion could add up to 600,000 barrels per day, though a $5 billion environmental fine and a $150 billion arbitration claim must first be resolved. Exxon is investing $100 billion through 2030 to lift total production from 4.7 million barrels per day last year to 5.5 million by 2035, driven by the Permian Basin, Guyana, and LNG projects including Rovuma in Mozambique and Papua New Guinea.

Targa Resources shares closed at $297.77 on Tuesday, near their 52-week high of $305.08, after surging 85.2% over the past year. The rally followed a new 20-year agreement with ExxonMobil across the Permian Basin, which adds significant acreage dedications and is expected to drive volume growth through 2046. The Zacks Consensus Estimate for Targa's 2026 earnings is $11.01 per share, implying 29.7% year-over-year growth, while revenues are pegged at $19.12 billion, up 12.3%. However, the company raised its 2026 growth capital spending to $5 billion from $4.5 billion, and management expects marketing gains to moderate in the second half. Targa trades at an EV/EBITDA of 15.24, above the industry average of 12.35, and carries a Zacks Rank #3 (Hold).

Exxon Mobil shares rose about 1.9% to $167.93 Thursday morning as Brent crude surged $2.19 to $93.81 per barrel, extending its rally to a fifth straight session. The move comes as vessel traffic through the Strait of Hormuz remains severely constrained amid the U.S.-Iran standoff, according to Reuters. Exxon entered the rally after generating second-quarter operating cash flow of $23.6 billion, free cash flow of $17.2 billion and earnings of $14.5 billion. The stock now trades 33.93% above its GF Value estimate of $125.39, a premium that reflects the market's aggressive pricing of the geopolitical supply risk.

Baidu shares plunged 12.7% after the company reported second-quarter 2026 adjusted earnings of $1.06 per share, widely missing the Zacks Consensus Estimate of $1.51. Western Digital shares slid 7.4% amid a rough session for tech stocks. ExxonMobil Holdings shares rose 2.5% as energy emerged as one of the biggest winning sectors. Amer Sports shares gained 3.2% after reporting second-quarter fiscal 2026 adjusted earnings of 22 cents per share, beating the Zacks Consensus Estimate of 11 cents.

ExxonMobil Holdings moved higher after its Mozambique unit and Area 4 partners awarded about US$1.1 billion in pre-investment contracts for the Rovuma LNG Phase 1 project, advancing early development work. The contracts come on top of a busy few weeks for ExxonMobil Holdings, which has also signed 20-year midstream agreements in the Permian Basin and reported record production alongside strong free cash flow. The share price is up 12.35% on a one-month basis and the year-to-date share price return of 34.99% sits alongside a one-year total shareholder return of 58.59%. ExxonMobil Holdings last closed at $165.56, which sits slightly below a narrative fair value estimate of $169.91 that is built on detailed earnings and cash flow assumptions.

A new study warns that AI-driven productivity gains in the fossil fuel industry could outweigh emissions cuts from renewables. The paper, published in npj Climate Action, argues that net emissions reductions require renewables gains four to five times greater than fossil fuel gains. Rystad Energy estimates AI and digitalization will create nearly $500 billion in cumulative value for exploration and production companies between 2026 and 2030. Wood Mackenzie says AI could unlock an extra trillion barrels of oil from producing reservoirs. ExxonMobil and Chevron executives have both cited AI tools in identifying new drilling opportunities, including offshore Guyana.

ExxonMobil Holdings and partners awarded US$1.1 billion in contracts to launch early work on the Mozambique Rovuma LNG Phase 1 project. The contracts support initial development activities ahead of a final investment decision on the large liquefied natural gas project. The move aims to address supply chain constraints early and prepare for potential acceleration of construction once full approval is secured. The key proof point to watch is the final investment decision on Rovuma LNG Phase 1 and the timeline for the planned 18.6 million tonnes per year liquefaction complex.

Targa Resources Corp. announced new 20-year fee-based integrated midstream agreements with ExxonMobil and three new natural gas processing plants in the Permian Delaware. The agreements add significant acreage dedications in the Delaware and Midland basins through 2046, including gathering, processing, treating, NGL transportation, and fractionation, plus 20-year NGL dedications to Targa's logistics and transportation systems. Targa also announced the Wrangler, Ranger, and Ranger II plants with aggregate capacity of about 825 million cubic feet per day, expected in service in the first half of 2028, and is evaluating up to five additional plants. A new roughly 70-mile natural gas pipeline called Bull Run II will connect the new plants to Waha, supported by take-or-pay commitments and expected to begin operations in the first half of 2028. Targa updated its full-year 2026 net growth capital estimate to approximately $5.0 billion.

Exxon Mobil and Chevron more than doubled their year-ago profits in the second quarter, combining for $26.6 billion as the closure of the Strait of Hormuz spiked crude prices. Exxon reported $14.5 billion in profit, up from $7.1 billion a year earlier, while Chevron reported $12.1 billion, up from $3.1 billion. Gas prices have surged from under $3 to $4.06 a gallon since the Iran war began, and President Trump threatening to bomb mediator Oman risks driving them higher. Both companies' integrated models capture profits from well to pump, but a Hormuz peace deal could collapse the windfall almost overnight.

Exxon Mobil shares advanced roughly 1.2% Friday morning as crude prices climbed after the U.S. threatened to maintain its naval blockade against Iran indefinitely. Reuters reported Brent crude jumped 1.6% to $88.50 a barrel, with more tension around the Strait of Hormuz meaning more risk for global oil supply and potentially more pricing power for Exxon. The U.S. energy giant generated $14.5 billion of second-quarter earnings, $14.7 billion of adjusted earnings, $23.6 billion of operating cash flow and $17.2 billion of free cash flow, returning $9.4 billion to shareholders through $4.3 billion of dividends and $5.1 billion of buybacks. Exxon also reported record Permian production and its highest Upstream production in more than two decades when Middle East disruptions are excluded. However, the stock traded at $160.59 on August 14, 28.69% above its GF Value of $124.79, suggesting investors are paying a big premium for a business whose earnings still swing with a commodity Exxon cannot control.

Devon Energy increased its quarterly fixed dividend by 33% to $0.32 per share in 2026 following the completion of its acquisition of Coterra, a move the board views as sustainable. The company also has a history of paying a variable dividend tied to financial results, which can boost income when oil prices are high but may shrink or disappear when prices fall, giving the stock a 2.4% yield. In contrast, ExxonMobil has raised its dividend annually for 43 consecutive years, most recently by 4%, and offers a 2.7% yield, with its integrated business model and strong balance sheet providing consistency through energy price cycles.

Kazakhstan is considering re-routing part of its crude oil exports through pipelines via Azerbaijan, Georgia, and Turkey after Ukrainian drone attacks repeatedly disrupted shipments from Russia's Black Sea port of Novorossiysk. The Kazakh Ministry of Energy said on Monday that options include the Baku-Tbilisi-Ceyhan system, shipments across the Caspian Sea through Azerbaijan, and the Baku-Supsa route, while also boosting eastward supply via pipeline to China. Flows through the Caspian Pipeline Consortium, which handles most of Kazakhstan's crude exports from fields operated by international firms including Chevron, ExxonMobil, Shell, and Eni, were suspended on three separate occasions in July alone. The latest week-long shutdown briefly removed more than 1 million barrels per day of Kazakh production from the market, adding to global supply risks.

ExxonMobil's second-quarter adjusted earnings rose 67% to $14.7 billion, or $3.52 per share, missing the $3.60 analysts expected. Free cash flow surged to $17.2 billion, enabling the company to return an industry-leading $9.4 billion to shareholders, including $4.3 billion in dividends. The oil giant also reduced debt by $7 billion, lowering its net debt-to-capital ratio to 11%, further fortifying its dividend foundation. Exxon has increased its dividend for 42 consecutive years.

ExxonMobil Moçambique Limitada has awarded a letter of intent to McDermott Energy Solutions (UK) Limited for limited engineering and procurement services on the Rovuma LNG Phase 1 midstream development. The award was made on behalf of the Area 4 partners and supports continued project definition ahead of a final investment decision expected in 2026. McDermott is a majority shareholder in the SMDC joint venture with Saipem, Daewoo Engineering & Construction, and China Petroleum Engineering & Construction Corporation, which will execute the work. The onshore development is planned to include 12 modular liquefaction modules producing 18.6 million tonnes of LNG per year, with start-up anticipated in 2031, and represents ExxonMobil's largest single investment. Engineering of the inside battery limits will be performed from McDermott's London and Gurgaon offices, while project management will be seconded to the joint venture team in Milan.

ExxonMobil reported quarterly earnings equivalent to roughly $160 million in profit each day during a period of rising oil prices. The company generated billions in earnings over the three-month span, reflecting how crude price run-ups can create windfalls for major producers. The results arrived amid unstable global energy pricing driven by geopolitical conflicts, output decisions, and extreme weather. Higher fuel costs also push up transportation and shipping expenses, which can filter into grocery prices and other basics, while industry lobbying has slowed the transition to cleaner energy sources that could better shield consumers from price shocks.

SBM Offshore raised its full-year 2026 guidance after reporting a record first half. Directional revenue increased to $4.9 billion and directional EBITDA nearly doubled to $1.3 billion, driven by new contracts including the FPSO SEAP 1 and SEAP 2 awards from Petrobras and a feed contract for ExxonMobil Guyana's long-tail development. The company's backlog reached a record $35.6 billion, and it now expects full-year directional revenue of around $7.6 billion and directional EBITDA of around $1.9 billion. Fleet uptime remained around 99% across 16 operating units, and the company is on track to deliver a minimum of $2.1 billion in shareholder returns for 2026-2031. The sale of FPSO One Guyana and a minority interest in FPSO Dalji helped reduce net debt to $3.7 billion, though the company noted a fatality at a subcontractor's yard in China and ongoing working capital drag.

The prolonged blockade of the Strait of Hormuz has sent crude oil prices soaring, leading North American oil development companies to report stunning results for the April–June 2026 quarter. The average WTI price jumped from around 70 dollars in the April–June 2025 quarter to roughly 100 dollars in the same period of 2026, with six companies that have a high proportion of crude oil production—including ExxonMobil and Chevron—posting profit increases of 49 to 385 percent year on year. In contrast, four companies with a high share of natural gas production saw profits decline as the Henry Hub price fell from about 5 dollars to around 3 dollars, weighed down by a rise in associated gas from increased crude output. Transportation and storage firms generally enjoyed higher profits, buoyed by growing demand for US energy, while drilling-related companies had mixed results amid the turmoil in the Middle East.

ExxonMobil Holdings shares may be undervalued by about 9% following strong second quarter 2026 earnings. The stock recently closed at $153.96, while a widely followed discounted cash flow analysis pegs fair value at $169.91, using a 7.11% discount rate. The valuation reflects expectations of steady revenue growth, rising profit margins, and higher future earnings, supported by tight hydrocarbon supply and Exxon's scale in high-return projects. The company reported strong oil prices and record refining margins, though bears warn that policy risk and a temporary war-driven profit boost could challenge the outlook.

The war in Iran has triggered a new global refining boom, sending refining margins to record highs and driving the strongest second-quarter earnings for Big Oil since the 2022 Russian invasion of Ukraine. Refining margins for gasoline and diesel hit new records amid Middle East escalation, Russia's diesel export ban, and low global fuel inventories, with Shell's global indicative refining margin rising to $24 per barrel from $17 in the first quarter. Shell more than doubled its second-quarter earnings year-over-year, TotalEnergies' adjusted net income jumped 68% to $6 billion, and U.S. supermajors ExxonMobil and Chevron reported their highest earnings in years, drawing criticism from President Donald Trump. Chevron achieved record refinery throughput of over 1 million barrels per day, while Exxon's CEO expects continued very robust refining margins. Even if supply disruptions ease, low inventories and restocking needs could support the global refining complex for several more quarters.

Big oil companies continue to post massive profits as fighting in Iran disrupts energy markets and sends oil and gasoline prices sharply higher. Six of Europe's largest oil companies posted combined first-quarter profits of $22 billion, more than 40% higher than last year, while BP's second-quarter profits more than doubled to $3.9 billion. Saudi Aramco reported a 44% year-on-year increase in second-quarter net profit to $32.69 billion, driven by higher crude oil, refined products, and chemicals prices. In the U.S., Exxon Mobil's second-quarter profits doubled to $14.5 billion on revenue of $116 billion, up 42%, and Chevron nearly quadrupled its profits to $12 billion with revenue jumping 56% to more than $70 billion. President Donald Trump criticized Chevron and Exxon Mobil for their outsized profits, saying they made too much money and should cut retail prices. Oil prices fell sharply on Tuesday, with U.S. crude dropping 5.4% to $75.98 per barrel and Brent crude falling 4.9% to $83.87 per barrel, after Treasury Secretary Scott Bessent said the U.S. and Iran may have a deal to open the Strait of Hormuz.