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ExxonMobil

BlackRock backs dissident's nominees in rebuke to Exxon
Business & Finance

BlackRock backs dissident's nominees in rebuke to Exxon

  • Exxon holds its annual shareholder meeting on Wednesday and investors have the option of changing their votes until then.
  • The International Energy Agency (IEA) has said investors should stop funding new fossil fuel projects if they want to cut greenhouse gas emissions by 2050.
Published 25 May, 2021 09:48pm
Valero warns of bigger first-quarter loss on costs from Texas deep freeze
Business & Finance

Valero warns of bigger first-quarter loss on costs from Texas deep freeze

  • Valero said it expects net loss attributable to its stockholders in the range of $2.05 to $1.81 per share for the first quarter, compared with an 88 cents per share loss in the fourth quarter.
  • Rival Phillip 66 also forecast a bigger-than-expected adjusted loss for the first quarter, citing the severe winter that battered its US Gulf Coast petrochemical operations.
Published 08 Apr, 2021 05:58pm
ConocoPhillips resumes share buybacks, promises capital discipline
Markets

ConocoPhillips resumes share buybacks, promises capital discipline

  • Despite the uptick in crude prices, oil companies are expected to largely limit spending to marginally higher as investors reward companies showing capital discipline after years of low returns from the sector.
  • We believe this market will favor companies who demonstrate sustainable discipline and strong free cash flow generation with a track record of predictable returns of capital.
Published 10 Mar, 2021 07:35pm
Chevron sticks to lower spending in higher investor returns pitch
Business & Finance

Chevron sticks to lower spending in higher investor returns pitch

  • Falling energy demand due to pandemic lockdowns sent the industry into a tailspin in 2020 and led Chevron to a $5.54 billion annual loss, its first since 2016.
  • Chevron's 2020 output was around 2.98 million barrels of oil and gas per day, and an investor presentation showed the company increasing output through 2025 though no numbers were given.
Updated 09 Mar, 2021 09:33pm
Exxon pitches investors on dividend growth, debt reduction
Business & Finance

Exxon pitches investors on dividend growth, debt reduction

  • Ahead of its investor day presentation, the company reaffirmed plans to keep project spending between $16 billion and $19 billion in 2021, and between $20 billion and $25 billion a year through 2025.
  • It expects output to remain flat at around 3.7 million barrels of oil and gas per day through mid-decade as it focuses on boosting cash flow instead.
Published 03 Mar, 2021 07:53pm
Exxon probed over Permian Basin valuation: report
Business & Finance

Exxon probed over Permian Basin valuation: report

  • The Journal report, citing unnamed sources, said the Securities & Exchange Commission probe focused on unrealistic assumptions for highest-producing US oil field.
  • An unrealistic outlook could mislead investors and artificially boost a company's share price.
Published 15 Jan, 2021 09:24pm