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The Latest Breaking News from Exxon

Refiners led by Exxon face Biden’s wrath as profits explode

Exxon Mobil Corp., Marathon Petroleum Corp. and the other top U.S. oil refiners are on course to reap a combined $10 billion in profits this quarter even as U.S. President Joe Biden lambastes the industry for closing plants.

Tribune News Service

Stock Wars: Chevron Vs. ExxonMobil

Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment.

Benzinga

Biden is under pressure on gas prices. So he's putting pressure on oil companies

President Biden says he wants the biggest refiners to do more to increase gasoline supply and lower prices. He says he's ready to use emergency powers to boost capacity — but he didn't give details.

WEKU

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Thinktank that briefed against XR given $30k by ExxonMobil in 2017

Report shows Policy Exchange, which called for criminalisation of climate group, previously received money from oil firm

The Guardian - UK

US gasoline tops $5 a gallon on average in new inflation marker

Gasoline topped an average of $5 per gallon in the U.S. for the first time, signaling the latest pain point for American consumers and President Joe Biden’s efforts to curb inflation.

Tribune News Service

Traders Expect Exxon Mobil Rally To Continue

Shares of Exxon Mobil Corp (NYSE: XOM) has risen by almost 63% year to date.

Benzinga

Industrial water use threatens Louisiana capital’s drinking water

Unchecked water use by companies like Exxon risks saltwater intrusion and undrinkable tap water

The Guardian - US

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Why Exxon Mobil Looks Set For All-Time Highs As Gas Prices Soar

Exxon Mobil Corp (NYSE: XOM) was shooting up more than 4% higher on Tuesday after two analysts raised their price targets on the stock.

Benzinga

Gazprom Suspends Gas Deliveries to Dutch Trader GasTerra

GasTerra will no longer receive gas from Russia's Gazprom from May 31 after refusing to agree to Moscow's demands for payment in roubles, the two companies said on Monday. GasTerra, which buys and trades gas on behalf of the Dutch government, said it had contracted elsewhere for the 2 billion…

Asharq Al-Awsat

ExxonMobil loses bid to nix climate change lawsuit

Massachusetts’ highest court has rejected a bid by ExxonMobil to dismiss a lawsuit brought by the state that accuses the oil giant of misleading the public about the role its products play in causing climate change

The Independent UK

Exxon must go to trial over alleged climate crimes, court rules

The ruling, and another crucial court decision this week, will force the company to face charges it lied about global heating

The Guardian - US

How a sustainability index can keep Exxon but drop Tesla – and 3 ways to fix ESG ratings to meet investors' expectations

A major stock index that tracks sustainable investments dropped electric vehicle-maker Tesla from its list in May 2022 – but it kept oil giant ExxonMobil. That move by the SP 500 ESG Index has set off a roiling debate over the value of ESG ratings.

The Conversation

Elon Musk continues push back against ESG

Documenting ESG pushback

Ballotpedia

Largest oil and gas producers made close to $100bn in first quarter of 2022

Shell made $9.1bn in profit, almost three times what it made in the same period last year, while Exxon raked in $8.8bn

The Guardian - US

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The Guardian - UK

‘We can’t eat a new road’: Guyanese voice fears over true cost of Exxon’s oil bonanza

Multibillion-dollar deal promising to lift country out of poverty may be false dawn with dire impact on climate, warn campaigners

The Guardian - US

Exxon doubles down on ‘advanced recycling’ claims that yield few results

The petroleum company is under investigation for misleading the public while exacerbating the global plastic pollution crisis

The Independent UK

Oil firms collect £22bn in profits as fuel and energy bills soar

BP, Shell and Exxon among firms reporting big rises in revenues, while Britsh Gas and SSE have boosted their earnings expectations

WEKU

The good times are rolling for Big Oil. 3 things to know about their surging profits

Major energy companies have reported a surge in profits in the first three months of the year as oil prices have rallied.

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Benzinga

6 Best-Performing Robinhood Stocks Of 2022

The SPDR S&P 500 ETF Trust (NYSE: SPY) is off to a brutal start to 2022, down 12.1% year-to-date. Robinhood Markets Inc (NASDAQ: HOOD) has been one of the worst performers of all so far this year, dropping 43.3%.

Salon

Oil profits skyrocket amid Ukraine war

Chevron's profits have quadrupled since Russia invaded Ukraine

Benzinga

Exxon Mobil Q1 Key Takeaway: Below Consensus, Takes Hit From Russia, Triples Share Buybacks

Exxon Mobil Corp (NYSE: XOM) took a $3.4 billion after-tax charge related to its Sakhalin-1 operation in Russia.

The Hindu

Govt asks state-run petroleum firms to consider buying Russian oil assets

The call on companies to explore buying the stake in Rosneft came after BP CEO Bernard Looney met Petroleum Minister Hardeep Singh Puri in March

Reuters

Violence against activists grows as Colombia's pilot fracking projects progress

Colombia's anti-fracking activists are facing increased threats and violence as two investigative pilot projects to extract oil and gas from unconventional fields move forward, five campaigners said, with some forced to flee in fear for their lives.

The Conversation

'Great resignation' appears to be hastening the exodus of US and other Western companies from Russia

Companies across the globe are fleeing Russia in an unprecedented display of corporate solidarity with their governments, appalled over the invasion of Ukraine. Over 750 multinational businesses so far have said they’re curtailing, suspending or severing ties to Russia, more than triple the number that abandoned South Africa over apartheid…

Benzinga

Walmart+ Offers Fuel Discount To Members

Walmart Inc (NYSE:WMT) said members of its Walmart+ program would receive an instant discount of up to 10 cents on every gallon of fuel they purchase at participating fuel stations. Walmart+ fuel discount is available at more than 14,000 stations with the addition of 12,000 Exxon Mobil Corp (NYSE:XOM) Exxon and Mobil locations across the…

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