Welcome to our dedicated page for Exxon Mobil news (Ticker: XOM), a resource for investors and traders seeking the latest updates and insights on Exxon Mobil stock.
Exxon Mobil Corporation reports developments across an integrated energy and petrochemical business organized around Upstream, Product Solutions and Low Carbon Solutions. Company updates commonly address earnings, cash flow, production, refining and product sales, chemical and lubricant markets, LNG activity, supply-chain optimization and portfolio performance across global operations.
Recurring announcements also include dividends, share repurchases, investor conference appearances, emissions-reduction plans for operated assets, CO2 pipeline and lower-emissions technology initiatives, and governance matters submitted to shareholders. The company describes itself as a large publicly traded international energy and petrochemical company serving customers in more than 180 countries.
ExxonMobil (NYSE: XOM) has announced plans to invest $15 billion in greenhouse gas emission-reduction projects over six years, supporting its target to double earnings and cash flow by 2027 compared to 2019. The company will maintain capital investments of $20-$25 billion annually through 2027, focusing on low-cost supply and emission-reduction initiatives. ExxonMobil is on track to meet its 2025 greenhouse gas reduction goals ahead of schedule, with new targets for 2030 aiming for significant reductions in emissions intensity.
TechnipFMC (NYSE: FTI) has secured a significant contract from Exxon Mobil Corporation (NYSE: XOM) for the Yellowtail development project. The contract entails supplying a subsea production system, with a project value classified as large (between $500 million and $1 billion). The project includes delivering 51 enhanced vertical deepwater trees, 12 manifolds, and associated tooling and equipment. TechnipFMC plans to enhance local hiring in Guyana, reaffirming its commitment to the region's workforce and capabilities.
Imperial Oil Limited (NYSE: IMO) announced its plan to accelerate share buybacks under its normal course issuer bid (NCIB). The company can repurchase up to 35,583,671 shares by January 2022, having already bought 11,956,028 shares as of October 2021. With an average purchase price of $42.70, the accelerated plan could return over $1 billion to shareholders. The company emphasizes its commitment to shareholder returns through dividends and share repurchases, evaluating further options for cash return.
ExxonMobil has signed a Memorandum of Understanding with Pertamina to explore low-carbon technologies in Indonesia. This collaboration focuses on large-scale carbon capture, utilization, and storage (CCUS), as well as low-carbon hydrogen. The MoU aims to identify suitable CO2 storage locations and enhance Indonesia's net-zero goals. This partnership comes amid discussions on climate policies at COP 26, highlighting ExxonMobil's commitment to reducing emissions through innovative solutions.
Imperial Oil Limited (TSE: IMO, NYSE American: IMO) has declared a quarterly dividend of 27 cents per share, payable on January 1, 2022, to shareholders of record on December 3, 2021. This dividend remains unchanged from the third quarter of 2021. With over a century of operation, Imperial has consistently paid dividends and has increased its annual payment for 27 consecutive years. As Canada's largest petroleum refiner, Imperial is committed to responsible energy development and maintaining high standards across its operations.
Imperial Oil Limited reported a net income of $908 million for Q3 2021, significantly up from $3 million in Q3 2020. The company achieved cash flow from operating activities of $1,947 million, driven by increased production and strong commodity prices. With average production of 435,000 barrels per day, this marks the highest third-quarter output in over 30 years. Shareholders benefited from over $500 million returned through dividends and share repurchases. The company also announced plans for a renewable diesel complex, enhancing its commitment to lower-carbon fuels.
Exxon Mobil Corporation reported a Q3 2021 net income of $6.8 billion, a significant increase from a $680 million loss in Q3 2020. The earnings per share stood at $1.57. Cash flow from operations totaled $12.1 billion, supporting capital investments and a dividend increase to $0.88 per share. Anticipated annual capital investments are projected between $20 billion and $25 billion, with a fourfold increase in low-carbon spending. The company aims to execute a $10 billion share repurchase program starting in 2022, signaling strong financial management and a commitment to shareholder returns.
The Board of Directors of Exxon Mobil Corporation has declared a cash dividend of $0.88 per share, payable on December 10, 2021 to shareholders of record as of November 12, 2021. This reflects an increase from the $0.87 dividend paid in the third quarter of 2021. Exxon Mobil has consistently shared its success with shareholders for over a century, increasing its annual dividend payments for 39 consecutive years.
Exxon Mobil Corporation (NYSE:XOM) will announce its third quarter 2021 financial results on October 29, 2021, at 6:30 a.m. CT. A press release and supplementary financial data will be accessible at www.exxonmobil.com. Following the release, a conference call led by CEO Darren Woods, CFO Kathryn Mikells, and VP Stephen Littleton will review the results at 8:30 a.m. CT. Interested parties can join via webcast or by phone.
ExxonMobil announced plans to expand carbon capture and storage (CCS) at its LaBarge facility in Wyoming, aiming to capture an additional 1 million metric tons of CO2 annually. This project represents a $400 million investment towards emission reduction. ExxonMobil currently captures about 6-7 million metric tons of CO2 yearly at LaBarge, which accounts for nearly 20% of global CO2 captured. Bids for engineering, procurement, and construction contracts have been requested, with operations expected to begin by 2025, pending regulatory approvals.