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The Latest Breaking News from Darren Woods

Fossil Fuels On The Table At COP28 As OPEC Slashes Production, US Crude Output Breaks Records

COP28 may become the first-ever international climate summit to commit to eventually phasing out oil and gas.

International Business Times

Oil firms are out in force at the climate talks. Here's how to decode their language

The oil industry has a huge voice in this year's climate talks. But what are oil companies actually saying? And why does it matter? We break down their pledges and statements into plain English.

WEKU

Texas will have to cut methane emissions from oil fields under new federal climate rule

The Biden Administration announced a crackdown on methane emissions, a major driver of climate change. Major oil and gas companies also signed on to a voluntary net-zero commitment.

The Texas Tribune

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Exxon Mobil's Diversification Strategy Takes Form With Plan To Be Leading Lithium Supplier By 2030

Exxon Mobil announced Monday it is targeting lithium production by 2027 and that it aims to produce enough lithium for more than one million EVs per year.

Investors Business Daily

Oil giants Exxon and Chevron report sluggish third-quarter results

ExxonMobil and rival Chevron both reported third-quarter earnings before the bell Friday, Oct. 27.

The Street

Exxon Mobil (XOM) and Chevron (CVX): A Pre-Earnings Analysis of Energy Giants

Exxon Mobil and Chevron (CVX) are scheduled to release their third-quarter earnings soon. Here’s a pre-earnings analysis of the energy giants to determine how investors should position themselves before their numbers are out. Read on….

StockNews.com

Exxon reinforces support for fossil fuels with deal to buy shale giant for $60bn

Deal to buy Pioneer Natural Resources shows Exxon’s confidence that fossil fuel output will not be hampered in years to come

The Guardian - US

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Exxon Earnings Miss Street Forecasts Amid Global Energy Price Slide

“The work we've been doing to improve our underlying profitability is reflected in our second-quarter results, which doubled from what we earned in a comparable industry commodity price environment just five years ago,” said CEO Darren Woods.

The Street

Exxon To Buy CO2 Specialists Denbury For $4.9 Billion

“Acquiring Denbury reflects our determination to profitably grow our Low Carbon Solutions business," said CEO Darren Woods.

The Street

ExxonMobil, Chevron report higher profits despite oil price dip

New York (AFP) - US oil giants ExxonMobil and Chevron reported another quarter of heady profits Friday as both companies continued to direct large cash payments to shareholders.

AFP

Exxon Reaps Record Q1 Profits As Output Boost, Cost Cuts Offset Oil Price Slide

Exxon's near-record cash pile "not burning a hole in our pocket", said CEO Darren Woods.

The Street

Chevron And Exxon Mobil Beat Earnings Estimates Even As Revenue Slips From 2022 Levels

Chevron dropped early Friday while Exxon Mobil advanced after the energy giants posted better than expected Q1 financials.

Investors Business Daily

Exxon CEO’s pay rose 52% to nearly £30m amid Ukraine war, figures show

Darren Woods’ pay is ‘reflective of record company earnings and stock price performance’, says oil firm

The Guardian - UK

Exxon’s Potential Pioneer Deal: Short-Term Gains for Long-Term Pain

Exxon Mobil is hunting for more Permian Basin assets. That’s why informal talks with Pioneer Natural Resources are happening. The move might seem like a natural for XOM, but it could turn out to be one acquisition too many. Here’s why.

Barchart

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Los Angeles Times

Michael Hiltzik: Big oil companies are already reneging on their global warming promises

If there's an enduring truism about corporate promises to do well by doing good, it's that believing them is a mug's game.

AFP

Energy majors look for mega profits to roll on

Paris (AFP) - The world's top oil and gas companies amassed record profits in 2022 after Russia's invasion of Ukraine drove prices higher -- with more high earnings, and anger, likely coming their way this year.

Salon

Exxon reports record profits

The White House responds with renewed calls to boost production

WEKU

Exxon announced record earnings. It's bound to renew scrutiny of Big Oil

Exxon earned nearly $56 billion in profit last year, the biggest annual profit any Western oil company has ever seen. Chevron set its own record with $35 billion in profit.

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The Independent UK

Unprecedented profit for Exxon as travel, and war, heated up

Exxon Mobil posted record annual profits in 2022 as consumers globally struggled with high prices for gasoline, home heating and consumer goods

The Street

Exxon Mobil Posts Record $56 Billion 2022 Profit, Beats Q4 Forecasts As Crude Surges

“While our results clearly benefited from a favorable market, the counter-cyclical investments we made before and during the pandemic provided the energy and products people needed," said CEO Darren Woods.

AFP

ExxonMobil reports record profits of $55.7 bn in 2022

New York (AFP) - ExxonMobil reported record annual profits of $55.7 billion in 2022 on Tuesday, reflecting higher commodity prices amid recovering demand and the impacts of Russia's invasion of Ukraine.

The Guardian - US

Exxon’s predictions about the climate crisis may have increased its legal peril

Several US states say news that Exxon scientists predicted global heating accurately strengthens their lawsuits against company

Investors Business Daily

Is It Time To Buy Exxon Stock On Forecasts For 2023 Earnings And Outlook For The Oil Industry?

Is it time to buy Exxon stock on forecasts for 2023, both for Exxon and the oil industry? Take a look at Exxon stock charts.

The Guardian - US

Oil firms have internally dismissed swift climate action, House panel says

Documents show the fossil fuel industry ‘has no real plans to clean up its act’ and took steps to continue business as usual

Investors Business Daily

Stock Market Closes Sharply Lower For Second Straight Day On Interest-Rate Worries

The stock market extended losses to another day as more strong U.S. economic data pointed to more Fed hikes. Oil and tech stocks fell.

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