Exxon Mobil
Coverage of Exxon Mobil in the Nexus archive.
- Scrapped Air Products project could signal stiffer headwinds for CO2 storage
Air Products canceled its $8 billion Louisiana Clean Energy Complex and carbon storage project due to political opposition and public distrust. The company will record a $2.2 billion loss, and analysts suggest the cancellation may signal broader challenges for CO2 storage initiatives.
- Banks are financing the fossil fuel industry’s next growth strategy
Major banks are increasing financing for fossil fuel expansion and petrochemical projects, abandoning climate commitments. Reports show $508 billion in 2025 for fossil fuel development and $252 billion for petrochemical activities since 2019, enabling the industry’s shift to plastics and fertilizers.
- Exxon’s Top US Gas Trader to Join Expand as Exits Hit Oil Giant
Exxon Mobil Corp's top US gas trader is leaving to join Expand as exits affect the oil giant.
- Rebound in tech shares pushes world markets higher, while oil prices fall
Tech shares surged in Japan and South Korea, driven by strong earnings from Qualcomm and Micron Technology, lifting global markets. Oil prices declined amid U.S.-Iran war negotiations, while tech-related indices like the Nikkei 225 and Kospi hit record highs.
- Rebound in tech shares pushes Asian shares higher, while oil prices fall
Tech shares in Asia surged, led by gains in Japanese and South Korean chipmakers following strong earnings from U.S. companies like Qualcomm and Micron Technology. Oil prices fell as U.S.-Iran negotiations progressed, while Asian stock indices like the Nikkei 225 and Kospi hit record highs.
- US stocks waver as tech companies slip and oil prices continue falling
US stocks showed mixed performance as tech companies like Nvidia and Micron declined, while the Dow Jones rose. Oil prices continued falling amid US-Iran war negotiations, and homebuilders gained after favorable legislation. Treasury yields eased, reducing pressure on stocks.
- Court rules for Exxon Mobil in Cuban confiscation case
The Supreme Court ruled that Exxon Mobil's lawsuit against Cuban state-owned companies over confiscated assets can proceed, citing the Helms-Burton Act as overriding foreign sovereign immunity. The majority, led by Justice Brett Kavanaugh, argued that the Helms-Burton Act eliminates immunity for Cuban entities trafficking in confiscated property, while dissenting justices questioned the clarity of congressional intent in the law.
- West Texas Gas Rises Above Zero for First Time in Four Months
West Texas gas prices have risen above zero for the first time in four months. Exxon Mobil Corp. operates oil drilling rigs in the Permian Basin, a major shale region spanning Texas and New Mexico.
- Pump pain, Wall Street gain: Iran war sends U.S. oil profits, stocks soaring as the big winners
The Iran war has boosted U.S. oil producers and refiners, with stock prices rising 20%-70% this year due to higher crude prices and demand. Analysts suggest elevated prices may persist through 2027-2028, driven by global reserve rebuilding and geopolitical shifts. Companies like Chevron, Exxon Mobil, and U.S. shale producers have seen significant gains.
- You can ignore AI giants like SpaceX, but your 401(k) won’t
SpaceX is now valued at $2.1 trillion after its stock surged 19.2% in its Wall Street debut. The company's inclusion in major stock indexes could impact 401(k) accounts, as index funds—which outperform actively managed funds—track these benchmarks. Nasdaq recently adjusted rules to allow large companies like SpaceX into its Nasdaq 100 index faster than before.
- You can ignore AI giants like SpaceX, but your 401(k) won’t
SpaceX's stock debut on Wall Street increased its valuation to $2.1 trillion, potentially impacting stock indexes and 401(k) investments as index funds grow in popularity over actively managed funds.
- Exxon Mobil, Chevron earnings fall, but top revenue expectations
Exxon Mobil and Chevron reported lower profits due to Iran war disruptions but exceeded revenue expectations for Q1. Both companies' earnings fell, yet their revenue surpassed Wall Street projections for the period ending March 31.
- Australians will pay more if Albanese fast-tracks fossil fuel projects, former oil and gas leaders warn
Former oil and gas industry leaders, including executives from BP and Shell, warn the Albanese government that fast-tracking fossil fuel projects could lead to higher energy costs and ongoing price shocks for Australians. They advocate prioritizing renewable energy to ensure liquid fuel security and consumer protection.
- China’s State Refiners Seek to Resume Fuel Exports After Halt
China's state refiners, including China National Petroleum Corp. (CNPC), are seeking to resume fuel exports after a halt. PetroChina, a subsidiary of CNPC, recently went public on the Shanghai Stock Exchange with a market capitalization of $1.005 trillion, surpassing Exxon Mobil in value.
- Exxon Mobil Is Said to Consider Sale of Hong Kong Gas Stations
Exxon Mobil is reportedly considering selling its Hong Kong gas stations, which are branded under the Esso label. The potential sale reflects a strategic move in the company's asset portfolio.