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Scott Sheffield, one of the earliest architects of the US shale oil boom, said he was “betrayed” by ExxonMobil Holdings Corp. after Chief Executive Officer Darren Woods failed to support him in a dispute with the Federal Trade Commission despite a promise to do so.
ExxonMobil (XOM) refining upside could offset lost earnings from its Middle East exposure, and the c
The S&P 500 Index ($SPX ) (SPY ) is up by +0.93% today, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up by +0.39%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.97%. December E-mini S&P futures (ESZ26 ) are up +1.00%, and December E-mini...
Carbon capture could become a profitable bridge for the energy giant.
Plus: EU chief reveals plans for curbing children’s access to social media and Fed delivers first rate hike in years
The U.S. oil major is negotiating a potential return to the Latin American country 19 years after its exit.
Trump officials say the oil-market disruption is temporary, but Chevron’s Mike Wirth and others warn global supplies are running low, with no respite in sight.
As surging diesel and gasoline prices demonstrate, global refining capacity is tight. On Monday, ExxonMobil said that it had to shut down its Joliet refinery in Illinois after a power outage, according to OPIS. The outage occurred around 3:30 p.m. Central Time on Sunday, with power restored around 7 p.m. The refinery has a capacity of 275,000 barrels a day and makes up about 6% of overall refining capacity in the Midwest, according to the company’s fact sheet.
A crucial day for inflation and the U.S. economy is off to a bad start. Diesel prices have hit $6 a gallon for the first time in history and Brent crude oil prices are trading at around $105 a barrel—though they have fallen back from earlier highs of close to $110. Consumer price index data for August, due to be released at 8.30 a.m. Eastern time, will be closely watched by investors and by Federal Reserve officials.
ExxonMobil (NYSE:XOM) stock is climbing Wednesday afternoon, extending a strong year for U.S. oil majors. ExxonMobil shares are up 3% in the current session to $164.83, carrying a 40% year-to-date gain. WTI crude oil has done much of the heavy lifting, and today it’s up 3.29% over the past 24 hours to $96.09 per barrel. […]
Asian shares were mixed in cautious trading early Wednesday as investors watched for what might happen on interest rates and the war with Iran pushed oil prices higher. Japan's benchmark Nikkei 225 was nearly unchanged at 65,249.95, and South Korea's Kospi gained 1.2% to 7,041.10. The Shanghai Composite gained 0.2% to 3,949.89.
Investing.com -- U.S. stock futures fell early Tuesday, kicking off a shortened trading week as Wall Street monitored the U.S.-Iran conflict alongside rising trade tensions between Canada and the U.S. Futures tied to the Dow Jones Industrial Average fell 0.8% by 05:30 ET (09:30 GMT). S&P 500 futures fell 0.3% and Nasdaq-100 futures slipped 0.1%. U.S. markets were closed Monday for Labor Day.
Chevron is taking steps to more than double its production in Venezuela, planning to invest more than $7 billion in the country over the next five years.
Sept 2 (Reuters) - Chevron said on Wednesday it had agreed with Venezuela on updated terms for its joint ventures in the country and plans to invest more than $7 billion over the next five years,
The 5% jump in U.S. crude oil prices today is having some of the familiar effects we've seen in recent months across the market when tensions build in the Middle East. Winners largely are coming from the energy sector, which is the best performing group in the S&P 500 today.
On this episode of Stock Movers: - PG&E (PGE) are extending their downward move as California legislators introduced a bill that would update the state's wildfire response without shifting liability away from publicly traded utilities. At least three research firms, including BMO Capital Markets and Wells Fargo, downgraded the stock. - Chevron (CVX) and ExxonMobil (XOM) shares are rising along with the price of oil. Washington and Tehran exchanged strikes for the first time in about a month, with US Central Command targeting rocket launchers preparing to send mines into the Strait of Hormuz. In response, the Islamic Revolutionary Guard Corps said that it had attacked US air bases in Jordan. - Nvidia (NVDA) shares are rising after the leader in AI chips dropped 4.6% Friday. It's the only stock rising in the Mag 7 on Monday.
Stocks slipped in early trading as traders saw an increased probability of a September rate hike and the US and Iran exchanged fire over the weekend, dampening sentiment near the end of an ebullient earnings season.
ONEOK is set to acquire Brazos Midstream’s Permian Midland Basin natural gas gathering and processing assets for $4.43 billion, expanding its footprint in prolific American oil hub.
Shares were mixed in Europe and Asia and U.S. futures declined Monday on expectations that the U.S. Federal Reserve may raise interest rates soon. Oil prices surged more than 3% after U.S. forces struck Iranian rocket launchers on the Strait of Hormuz, marking their first military action in a month. U.S. benchmark crude oil was trading 3.8% higher at $86.58 per barrel.
The federal government will control 55% of the company's effective output via equity ownership and oil production.
A multi-billion-dollar bet on the Louisiana coast could reshape how investors value the newly public rocket maker.
Arch Aplin III, the CEO of Buc-ee’s travel centers and gas stations, has said that the company will seek expansion in “conservative” states following a trademark infringement lawsuit it filed against an Ohio convenience store. Arch Aplin III on Expanding...
A renewed spike in oil prices is the biggest risk facing US stocks, according to Morgan Stanley’s Michael Wilson, who recommended using energy shares to hedge portfolios.
Shell has drawn interest from potential bidders including ExxonMobil and LyondellBasell for its multibillion-dollar US chemicals assets, as the...
Pacific Coast’s grab at some of the first assets made available under the interim government has spurred complaints from a local business dynasty.
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