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Exxon beats profit estimates with higher production

Exxon Mobil, the biggest oil producer in the US, has today beaten Wall Street estimates for second-quarter profit as higher oil and gas output and low production costs offset the impact of lower crude prices.

Business • 01 Aug

Chevron wins Exxon battle over Guyana oilfield

US oil giant Chevron will proceed with its $53 billion acquisition of Hess, after it prevailed in a landmark legal battle against larger rival Exxon Mobil to gain access to the largest oil discovery in decades.

Business • 18 Jul

Exxon Mobil is the largest US oil producer

Exxon beats Wall Street's first quarter profit estimate

Exxon Mobil has today beaten Wall Street's estimate for first-quarter profit as higher oil and gas production from Guyana and the Permian basin helped boost earnings.

Business • 02 May

Exxon Mobil said higher oil and gas production offset lower oil prices and weaker refining margins in the fourth quarter

Exxon Mobil beats Q4 estimates on higher output

Exxon Mobil has today beaten Wall Street's estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.

Business • 31 Jan

Exxon Mobil said it was boosted by strong oil output in its first full quarter that includes volumes from US shale producer Pioneer Natural Resources

Exxon's profit beats as volume offsets price weakness

Exxon Mobil has today beaten Wall Street's third quarter profit estimate, boosted by strong oil output in its first full quarter that includes volumes from US shale producer Pioneer Natural Resources.

Business • 01 Nov 24

Exxon said its net income was $9.24 billion, up from $7.88 billion a year ago, largely on higher oil prices

Exxon Mobil delivers $9.2 billion second-quarter profit

Exxon Mobil has today posted a better than expected $9.2 billion second-quarter profit based on rising oil prices and volume gains from its purchase this year of shale oil firm Pioneer Natural Resources.

Business • 02 Aug 24

Oil giant Chevron has missed estimates for second-quarter profit

Chevron reports Q2 earnings miss on weak refining margins

Oil giant Chevron has today reported second-quarter earnings that missed Wall Street estimates due to industry-wide pressure from lower refining margins and natural gas prices.

Business • 02 Aug 24

Exxon Mobil, the largest US oil company, is in the process of closing a $60 billion deal for top shale oil producer Pioneer Natural Resources

Exxon misses on Q1 profit despite big gains in Guyana

Exxon Mobil has today missed analysts' estimates with a 28% year-on-year drop in first quarter profits as weaker refining margins and lower natural gas prices offset volume gains.

Business • 26 Apr 24

Exxon Mobil has reported a better-than-expected $36 billion profit for 2023

Exxon beats estimates, ends 2023 with $36 billion profit

Exxon Mobil has today posted a better-than-expected $36 billion profit for 2023, lifted by fuels trading and higher oil and gas production.

Business • 02 Feb 24

Exxon Mobil invented the rechargeable lithium-ion battery in the 1970s, but then stepped away from the technology

Exxon Mobil to start producing lithium by 2027

US energy giant Exxon Mobil said today it plans to start producing lithium by 2027 in Arkansas, amid growing demand for the metal used in electric vehicle batteries.

Business • 13 Nov 23

Exxon Mobil's Q3 profit was $2.25 a share compared to $4.68 in the same quarter a year ago when oil and gas prices climbed after Russia's invasion of Ukraine

Exxon Mobil's Q3 profit down 54% on record year in 2022

Exxon Mobil has today posted a $9.1 billion third-quarter profit, an about 54% drop from record earnings a year ago but up from the prior quarter as oil prices recovered.

Business • 27 Oct 23

Today's deal would be Exxon's biggest since its $81 billion purchase of Mobil Oil in 1998

Exxon to buy shale rival Pioneer for nearly $60 billion

Exxon Mobil will buy US rival Pioneer Natural Resources in an all-stock deal valued at $59.5 billion that would make it the biggest producer in the largest US oilfield, securing a decade of low-cost production.

Business • 11 Oct 23

Exxon Mobil said it made about $6.3m per hour last year

Exxon smashes Western oil majors' earnings record

Exxon Mobil has today posted a $56 billion profit for 2022, taking home about $6.3m per hour last year, and setting not only a company record but a historic high for the Western oil industry.

Business • 31 Jan 23

Exxon said it will factor in the tax as it considers future multi-billion euro investments in Europe's energy supply

Exxon sues EU in move to block new windfall tax

US oil major Exxon Mobil is suing the European Union in a bid to force it to scrap the bloc's new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy.

Business • 28 Dec 22

Follow This has tabled resolutions urging four of the world's top oil and gas companies to set broad climate targets for 2030

Investors ramp up pressure on Big Oil firms on targets

A group of investors has tabled resolutions urging four of the world's top oil and gas companies to set broad climate targets for 2030, reviving pressure on the sector after a year that saw governments shift their focus to energy security.

Business • 19 Dec 22

The top US oil producer reported a per share profit of $4.68

Exxon Mobil reports record-smashing Q3 profit

Exxon Mobil has today smashed expectations as soaring energy prices fuelled a record-breaking quarterly profit, nearly matching that of tech giant Apple.

Business • 28 Oct 22

Exxon Mobil's Russian assets had been valued at over $4 billion

Exxon Mobil exits Russia empty-handed

Exxon Mobil said that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project.

Business • 18 Oct 22

Exxon Mobil has taken a $3.4 billion writedown from its planned exit from its Russian operations

Exxon profit rises on higher oil and gas prices

Exxon Mobil said it doubled its first-quarter per-share profit, boosted by surging oil and gas prices even as it took a $3.4 billion writedown from its planned exit from its Russian operations.

Business • 29 Apr 22

Apple has stopped sales of iPhones and other products in Russia

Boeing, Exxon, Apple join Western firms spurning Russia

Boeing has suspended maintenance and technical support for Russian airlines and US energy firm Exxon Mobil said it would exit Russia, joining a growing list of Western companies spurning Moscow over its invasion of Ukraine.

Business • 02 Mar 22

Exxon will pull out of managing large oil and gas production facilities on Sakhalin Island in Russia's Far East

Exxon to exit Russia, leaving $4 bn in assets in doubt

Exxon Mobil has said it would exit Russia oil and gas operations that it has valued at more than $4 billion and halt new investment as a result of Moscow's invasion of Ukraine.

Business • 02 Mar 22

The top US oil producer is benefitting from strong energy prices

Exxon posts best results in 7 years on high oil prices

Exxon Mobil has today reported a fourth-quarter profit of $8.87 billion, its largest in seven years, as the top US oil producer benefited from strong energy prices.

Business • 01 Feb 22

Exxon shares are up more than 50% this year, as earnings bounced back from last year's historic loss

Exxon posts strongest results since 2017

Exxon Mobil has today pledged to revive a share repurchase programme next year as its earnings outlook improved on quarterly results that topped analysts' estimates.

Business • 29 Oct 21

Exxon Mobil shares have climbed 35% so far this year

Exxon posts first profit in five quarters

Top US oil producer Exxon Mobil has today posted its first profit in five quarters, boosted by rising oil prices that offset costs from a February deep freeze in Texas.

Business • 30 Apr 21

Exxon Mobil has reported a net annual loss of $44 billion for 2020

Exxon posts first annual loss as a public company

Exxon Mobil has today posted its first annual loss as a public company as the Covid-19 pandemic hammered energy prices and reduced the value of its shale gas properties by more than $20 billion.

Business • 02 Feb 21

Exxon Mobil continues to reel from the Covid-19 impact on energy demand and prices

Exxon posts third quarterly loss as Covid hits demand

Exxon Mobil has today posted its third quarterly loss today and detailed deeper spending cuts to come, as the oil major reels from the Covid-19 impact on energy demand and prices.

Business • 30 Oct 20