Latest Exxon Mobil Corp News

Saudi Aramco takes another step toward 1st public offering

Nov. 10, 2019 4:51 AM EST

DUBAI, United Arab Emirates (AP) — Saudi Arabia's state-owned oil giant Aramco released a lengthy document late Saturday that lays the ground for investors to buy into the world's most profitable company, but it remains unknown how much is on offer. In its preliminary prospectus, Aramco revealed that it...

For east Syria, US troops are about much more than oil

Nov. 8, 2019 11:21 AM EST

BEIRUT (AP) — As U.S. troops beef up in eastern Syria to protect oil fields, residents hope their mission will bring stability and prosperity to the remote and resource-rich region —and keep the Syrian government out. Their hopes reflect the expectations being piled onto the operation, even as...

Exxon denies that it misled investors on climate risks

Nov. 7, 2019 2:41 PM EST

NEW YORK (AP) — Climate change may be the defining risk for oil and gas companies in coming decades, and attorneys for New York state are saying Exxon Mobil misled investors about how it was handling that risk. The state made closing arguments Thursday in a case that accused the energy giant of downplaying...

CVS, Humana post gains while Facebook, Match tally losses

Nov. 6, 2019 4:25 PM EST

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Wednesday: CVS Health Corp., up $3.61 to $70.93 The drugstore chain and pharmacy benefits manager raised its profit forecast after reporting surprisingly good third-quarter earnings. Aircastle Ltd., up $4.68 to $32.27 The aircraft leasing...

Brazil's oil tender yields $17 billion, falls short of hopes

Nov. 6, 2019 1:49 PM EST

RIO DE JANEIRO (AP) — Brazil awarded two of the four blocks on offer in its priciest oil auction since 2010 on Wednesday, securing about $17 billion dollars but falling short of government expectations. The highly anticipated tender had captured the attention of some of the world's biggest oil firms,...

Dow hits record as stock market rally extends into 5th week

Nov. 4, 2019 6:43 PM EST

NEW YORK (AP) — The Dow Jones Industrial Average returned to a record on Monday, joining other market gauges at all-time highs, as the stock market's rally carried into a fifth week. Oil producers, banks and other stocks that do well when the economy is strengthening again led the way. It's a notable shift...

Saudi Arabia formally starts IPO of oil firm Saudi Aramco

Nov. 3, 2019 7:33 AM EST

DHAHRAN, Saudi Arabia (AP) — Saudi Arabia formally began an initial public offering Sunday of a sliver of oil giant Saudi Aramco after years of delay, hoping international and local investors will pay billions of dollars for a stake in the kingdom's crown jewels. An approval by Saudi Arabia's Capital...

Stocks hit records as strong jobs report calms trade worries

Nov. 1, 2019 4:30 PM EDT

NEW YORK (AP) — Stocks powered to records Friday after an encouraging jobs report gave reassurance that the economy is still solid, despite the pain U.S. factories are feeling from President Donald Trump's trade war. The Labor Department's report showed that employers added more jobs in October than...

Exxon Mobil profit falls 49% as oil and gas prices decline

Nov. 1, 2019 12:02 PM EDT

NEW YORK (AP) — Exxon Mobil's profits fell dramatically in the third quarter as the company was hurt by lower prices for crude oil and natural gas. The Texas oil giant reported $3.17 billion in profits in the third quarter Friday, down 49% from the same time last year. Total revenue was $65.05 billion,...

Exxon profit plummets with plenty of oil to go around

Nov. 1, 2019 8:30 AM EDT

IRVING, Texas (AP) — Exxon Mobil's profit tumbled with crude prices down about 15% from where they were last year, though a $300 million boost from a tax-related item helped. Exxon Mobil Corp. on Friday reported net income of $3.17 billion, or 75 cents per share. Those per-share earnings were 68 cents if...