Latest Exxon Mobil Corp News

FILE - In this March 9, 2010, file photo a tanker truck passes the Chevron oil refinery in Richmond, Calif. A federal appeals court ruled Tuesday, May 26 against major oil companies in lawsuits brought by California cities and counties seeking damages for the impact of climate change. A panel of the 9th U.S. Circuit Court of Appeals said state courts are the proper forum for the lawsuits alleging that Big Oil promoted petroleum as environmentally responsible when producers knew it was causing damage. (AP Photo/Paul Sakuma, File)

Big Oil loses appeal, climate suits go to California courts

May. 26, 2020 7:40 PM EDT

LOS ANGELES (AP) — Big Oil lost a pair of court battles Tuesday that could lead to trials in lawsuits by California cities and counties seeking damages for the impact of climate change. The 9th U.S. Circuit Court of Appeals rejected arguments by energy companies and ruled state courts are the proper forum...

Alaska LNG Project receives federal regulatory approval

May. 22, 2020 9:48 AM EDT

ANCHORAGE, Alaska (AP) — The Federal Energy Regulatory Commission issued a decision authorizing construction of the Alaska LNG Project, concluding an environmental impact statement process of more than three years. The commission announced Thursday it approved the state's plans for the estimated $43...

FILE In this April 21, 2020 file photo, a pumpjack is pictured as the sun sets in Oklahoma City.  Google says it won’t build custom artificial intelligence tools for speeding up oil and gas extraction, taking an environmental stance that distinguishes it from cloud computing rivals Microsoft and Amazon.  The announcement followed a Greenpeace report on Tuesday, May 19,  that documents how the three tech giants are using AI and computing power to help oil companies find and access oil and gas deposits in the U.S. and around the world. (AP Photo/Sue Ogrocki File)

Google says it won't build AI tools for oil and gas drillers

May. 19, 2020 2:07 PM EDT

Google says it will no longer build custom artificial intelligence tools for speeding up oil and gas extraction, separating itself from cloud computing rivals Microsoft and Amazon. A statement from the company Tuesday followed a Greenpeace report that documents how the three tech giants are using AI and...

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 1, 2020. Shares have dropped in Asia after Wall Street ended its best month in 33 years with losses on fresh news of economic carnage from the coronavirus pandemic. (AP Photo/Eugene Hoshiko)

Stocks slide as Amazon, other companies detail virus fallout

May. 1, 2020 4:50 PM EDT

Stocks closed broadly lower on Wall Street Friday after Amazon and other big companies reported disappointing results, the latest evidence of how the coronavirus pandemic is hobbling the economy and hurting corporate earnings. A day after closing out its best month since 1987, the S&P 500 fell 2.8%. The...

Amazon, Exxon Mobil fall; Clorox, Moderna rise

May. 1, 2020 4:26 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially on Friday: Amazon.com Inc., down $187.96 to $2,286.04. The internet retail giant reported disappointing first-quarter profit because of higher costs related to a surge in demand. Western Digital Corp., down $5.60 to $40.48. The maker of...

FILE - In this April 23, 2018, file photo, the logo for ExxonMobil appears above a trading post on the floor of the New York Stock Exchange.  Profits fell at Exxon Mobil, Friday, May 1, 2020, during the first quarter as the global pandemic began to erode oil demand. The Irving, Texas oil giant lost $610 million in the first quarter, down 126% from the same time last year.(AP Photo/Richard Drew, File)

Exxon profits drop as most of world stays home, forgoes fuel

May. 1, 2020 1:41 PM EDT

NEW YORK (AP) — Profits fell at Exxon Mobil and Chevron warned of tough times ahead as the global pandemic began to erode oil demand. Exxon lost $610 million in the first quarter, down 126% from the same time last year, the Irving, Texas oil giant said Friday. Revenue was $56.16 billion, down 12% from the...

This Sunday, April 26, 2020, photo shows gas prices displayed at a gas station in Hattiesburg, Miss. With a barrel of crude oil costing less than a New York pizza, many U.S. shale producers are being pushed to the brink of bankruptcy and experts are wondering when, and if, the oil industry will recover. The price of benchmark U.S. crude oil closed at $12.34 a barrel Tuesday, April 28. At the start of the year, the price was around $60. (AP Photo/Rogelio V. Solis)

Q&A: With rock-bottom prices, will the oil industry recover?

Apr. 29, 2020 10:19 AM EDT

NEW YORK (AP) — With a barrel of crude oil costing less than a New York pizza, many U.S. shale producers are being pushed to the brink of bankruptcy and experts are wondering when, and if, the oil industry will recover. The price of benchmark U.S. crude oil closed at $12.34 a barrel Tuesday. At the start...

FILE - In this April 1, 2020, file photo, several dozen mothballed Delta Air Lines jets are parked at Kansas City International Airport in Kansas City, Mo.  Investors are now getting their first look at companies navigating the coronavirus pandemic. A clearer snapshot of the business landscape should start to formulate by keeping an eye on the busiest week of the earnings season as many companies are reporting earnings on Tuesday, April 28. (AP Photo/Charlie Riedel, File)

Earnings season is in full swing and uncertainty is certain

Apr. 28, 2020 7:50 PM EDT

The most active week of the earnings season is on and the rush of quarterly reports Tuesday, 39 in all, captured the maneuvering of companies from almost every sector as they feel their way through an unprecedented economic shockwave. Companies are being affected in different ways but if there's a common theme,...

A station passageway is crowded with commuters wearing face mask during a rush hour in Tokyo Monday, April 27, 2020. Japan's Prime Minister Shinzo Abe expanded a state of emergency to all of Japan from just Tokyo and other urban areas as the virus continues to spread. (AP Photo/Eugene Hoshiko)

The Latest: Japan adds 14 more countries to entry ban list

Apr. 27, 2020 12:40 AM EDT

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — Japan adds 14 more countries to entry ban list. —...

A man wearing a face mask to protect against the spread of the new coronavirus takes a photo of blossoms at a public park in Beijing, Saturday, April 25, 2020. China on Saturday reported no new deaths from the coronavirus for the 10th straight day. (AP Photo/Mark Schiefelbein)

The Latest: Hawaii's stay-at-home order extended to May 31

Apr. 25, 2020 9:44 PM EDT

The Latest on the coronavirus pandemic. The new coronavirus causes mild or moderate symptoms for most people. For some, especially older adults and people with existing health problems, it can cause more severe illness or death. TOP OF THE HOUR: — Hawaii's stay-at-home order extended to May 31 —...