ExxonMobil News Updates

ExxonMobil Corp. is tapping the U.S. Strategic Petroleum Reserve to revive gasoline production in Louisiana after Hurricane Ida left much of the devastated state’s refining and oil production offline.

NEW YORK — ExxonMobil swung back to a profit and topped expectations on profit and revenue during the second quarter as demand for fuel recovered from lows reached earlier in the pandemic.

NEW YORK — ExxonMobil reported profits of $2.73 billion in the first quarter, after a tumultuous year led to major spending reductions.

ExxonMobil Corp. sees multiple money-making opportunities in a low-emissions world and is targeting partnerships with venture funds to help finance growth in its carbon capture business, CEO Darren Woods said.

Exxon Mobil Corp. announced several new emissions targets and said it would begin publishing pollution information related to customers’ use of its products for the first time, just days after activist investors criticized the oil giant for its environmental record.

Chevron Corp. overtook Exxon Mobil Corp. as the largest oil company in America by market value, the first time the Texas-based giant has been dethroned since it began as Standard Oil more than a century ago.

ExxonMobil announced an agreement with Global Clean Energy Holdings to purchase 2.5 million barrels of renewable diesel per year for five years.

ExxonMobil Corp. warned that low energy prices may wipe as much as one-fifth of its oil and natural gas reserves off the books.

NEW YORK — Profits fell at ExxonMobil as the global pandemic began to erode oil demand.