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The Latest Breaking News from 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 tells oil refiners: Produce more gas, fewer profits

President Joe Biden is calling on U.S. oil refiners to produce more gasoline and diesel

The Independent UK

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

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Biden says ExxonMobil 'made more money than God'

Los Angeles (AFP) - President Joe Biden on Friday slammed ExxonMobil for not producing more oil, as soaring gas prices deplete Americans' wallets and the US leader's popularity ahead of midterm elections.

AFP

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

5 Reasons Why It’s Finally The Time To Sell Big Oil

Major oil stocks like ExxonMobil are reaching extremes on a fundamental, technical, and comparative basis. Time to short crude in a non-crude way.

StockNews.com

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

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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

‘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 - UK

Revealed: the ‘carbon bombs’ set to trigger catastrophic climate breakdown

Exclusive: Oil and gas majors are planning scores of vast projects that threaten to shatter the 1.5C climate goal. If governments do not act, these firms will continue to cash in as the world burns

The Guardian - UK

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 Guardian - US

Boosted by oil prices, ExxonMobil, Chevron throw cash at investors

New York (AFP) - ExxonMobil and Chevron reported soaring profits Friday despite lower oil and natural gas volumes as the petroleum giants return billions of dollars to shareholders in the wake of lofty crude prices and refining margins.

AFP

ExxonMobil earnings double to $5.5 bn on higher oil prices

New York (AFP) - ExxonMobil's first-quarter profits more than doubled to $5.5 billion, the company reported on Friday, as higher oil prices offset costs connected to exiting its Sakhalin project in Russia.

AFP

Eurozone stocks edge higher as weak data offsets China support

London (AFP) - Eurozone stock markets rose only slightly Friday as the bloc's weak economic data offset hopes China would ease its long-running crackdown on the tech sector -- news that sent Asian equities soaring.

AFP

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AFP

California probes 'Big Oil' over plastic pollution

Los Angeles (AFP) - California launched a sweeping investigation Thursday into plastic pollution by major oil companies, in a probe it says will look at whether fossil fuel giants have been lying about the problem for decades.

The Independent UK

California subpoenas ExxonMobil in probe of plastics waste

California’s attorney general has subpoenaed ExxonMobil as part of what he called a first-of-its-kind broader investigation into the petroleum industry for its alleged role in causing a global plastic pollution crisis

Benzinga

Exxon Mobil Bans Rainbow Flag Display During LGBTQ Pride Month: What You Need To Know

ExxonMobil Corp. (NYSE: XOM) will not allow the LGBTQ-rights rainbow flag to be flown outside of its corporate offices during June’s Pride Month observances, although corporate leadership insisted this was not a reflection of a lack of support for its LGBTQ workforce.

Al Jazeera

ExxonMobil issued rare penalty in ongoing Indonesian rights case

US court orders oil giant to pay nearly $290,000 to plaintiff’s counsel following botched deposition.

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The Independent UK

US diplomat: Mediterranean gas pipeline to Europe not viable

A senior U.S. diplomat says a proposed pipeline to deliver natural gas from deposits in the east Mediterranean to European markets is too expensive, not economically viable and will take too long to help countries seeking alternatives to Russian gas any time soon

Texas Observer

The Battle of Beaumont

A grueling labor fight dragged on in the once-mighty union bastion of southeast Texas, pitting the oil giant against an embattled Steelworkers local.

The Independent UK

More than 200 oil tankers have left Russian ports since Ukraine invasion began

Exclusive: Human rights NGO accuses companies of ‘hiding behind vague statements and weak excuses’

The Street

ExxonMobil Shops at GM to Prepare Its Future

The oil giant tries to respond to the criticisms and ambitions of its rivals.

Axios

JPMorgan Chase CEO pushes Biden for domestic energy "Marshall Plan"

Dimon told Biden that more gas production is needed both for Europe and America's energy security.

Reason

Short Circuit: A Roundup of Recent Federal Court Decisions

Straight teeth, prurient firefighters, and Fresh American Beef.

The Conversation

Small oil producers like Ghana, Guyana and Suriname could gain as buyers shun Russian crude

As the U.S. and Europe cut back purchases of Russian oil, and energy traders shun it for fear of sanctions, the search is on for other sources. Attention has focused on Iran and Venezuela, both of which are led by governments that the U.S. sought until recently to isolate. But…

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