The Latest Breaking News from ExxonMobil

Union vows to fight government in court as workers at ExxonMobil and TotalEnergies demand pay rise and share of profits

Striking French oil refinery employees voted Wednesday to maintain blockades now in their third week, despite a government order for some of them to return to work in a bid to get fuel supplies flowing.

French Prime Minister Elisabeth Borne has announced a decision to requisition workers operating petrol depots of the ExxonMobil’s French branch Esso and threatened to do the same for those of Total group, amid strikes that have led fuel pumps to run dry in the country

The country’s total refinery output has been reduced by more than 60% over the past two weeks

TotalEnergies on Sunday offered to bring forward wage talks, in response to union demands, as it sought to end a strike that has disrupted supplies to almost a third of French petrol stations and led the government to tap strategic reserves.

While higher price realizations and significant market demand should bode well for energy companies, including Exxon Mobil (XOM) and Marathon Petroleum (MPC), we think MPC is better positioned to capitalize on the industry tailwinds given its solid fundamentals and growth attributes. Read on to learn more….

Fury as ‘explosive’ documents reveal largest oil companies contradicted public statements and wished bedbugs upon critical activists

The SEC’s proposed new rules, which would require public corporations to disclose climate-related information, have been criticized by industry groups

Soaring energy prices have dominated the headlines over the last year. In the oil sector, the wholesale price of Brent crude oil (a key oil industry measure), is almost five times higher now than in April 2022, and motorists have faced record petrol prices at the pumps.

Natural gas has featured regularly in the news of late, with the wholesale price having more than doubled in 2022 after Russia’s invasion of Ukraine. The UK government has also reopened the controversial debate on fracking as a way of reducing natural gas imports.

BP, Chevron, ExxonMobil, Shell and TotalEnergies spend $750m a year burnishing climate credentials but only 12% of capital on low-carbon development