最新ニュース iShares U.S. Energy ETF (ARCA:IYE)

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The fund generally invests at least 90% of its assets in securities of the underlying index and in depositary receipts representing securities of the underlying index. The underlying index measures the performance of the oil and gas sector of the U.S. equity market. The fund is non-diversified.

Exxon Mobil Corp.

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Oneok Inc.

iShares US Energy ETF

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading higher after the company <a target="_blank" href="https://www.benzinga.com/pressreleases/25/01/b43380321/exxonmobil-announces-2024-results" rel="noreferrer noopener">reported&nbsp;fourth-quarter results</a>.&nbsp;
Total revenues and other income&nbsp;stood at&nbsp;$83.4 billion, missing the consensus of&nbsp;$86.6 billion.
Net production in the&nbsp;fourth quarter&nbsp;was 4.6 million oil-equivalent barrels per day, an increase of 20,000 oil-equivalent barrels per day from the prior quarter.
Related: <a target="_blank" href="https://www.benzinga.com/25/01/42875502/oil-price-drop-to-cut-exxon-mobils-q4-upstream-earnings-by-up-to-09-billion" rel="noreferrer noopener">Oil Price Drop To Cut Exxon Mobil&#8217;s Q4 Upstream Earnings By Up To $0.9 Billion: Details</a>
Adjusted net profit came in at&nbsp;$7.39 billion, down from&nbsp;$8.61 billion&nbsp;in the prior quarter. Adjusted EPS stood at&nbsp;$1.67,&nbsp;<a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$1.56</a>.
Exxon&#8217;s&nbsp;capital and exploration expenditures stood at&nbsp;$7.51&nbsp;billion&nbsp;in the&nbsp;fourth quarter, bringing 2024 expenditures to&nbsp;$27.6 billion.
The company achieved a cumulative structural cost savings of&nbsp;$12.1&nbsp;billion versus 2019, including savings of $0.8 billion in the quarter and $2.4 billion during the year.
The company expects to deliver cumulative savings of $18 billion <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">through the end of 2030 versus 2019</a>.
Dividend &amp; Repurchase: Exxon expects a first-quarter&nbsp;dividend per share of&nbsp;$0.99, payable on March 10, to shareholders of record as of&nbsp;February 12, 2025.
The company&#8217;s shareholder distributions totaled&nbsp;$36.0&nbsp;billion in 2024, comprising&nbsp;$16.7&nbsp;billion in dividends and&nbsp;$19.3&nbsp;billion&nbsp;in share repurchases.
As announced earlier, ExxonMobil plans to expand its annual $20 billion share repurchase program through 2026.&nbsp;
Darren Woods, chairman and chief executive officer, said, &#8220;Financially, we delivered some of our highest earnings and operating cash flow in a decade. We earned returns higher than our peers&nbsp;and well above our cost of capital, and we distributed more cash to shareholders than all but five companies in the entire S&amp;P 500.&#8221;
&#8220;We&#8217;re confident we&#8217;ll deliver on the plans we laid out to generate significantly more earnings and cash – not only to 2030, but well beyond. Our unique investment opportunities give us profitable growth well into the future, which underpins our financial strength and ability to return significant cash to shareholders.&#8221;
Investors can gain exposure to XOM via iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) and&nbsp;SPDR Select Sector Fund – Energy Select Sector&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>).
Price Action: XOM shares are up 0.91% at $110.57 premarket at the last check Friday.
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iShares Dow Jones US Energy Sector Index Fund

Exxon Mobil Q4 Earnings: Mixed Results, But CEO Promises 'Profitable Growth Well Into the Future'

Editor&#8217;s note: This story has been updated to correct the name and title of Edward Jones strategist Mona Mahajan. 
President Donald Trump&#8216;s first week in office pushed equities to new highs, with the S&amp;P 500 marking its <a href="https://www.benzinga.com/24/12/42653753/history-may-hint-at-sp-500-struggles-in-2025-yet-there-is-also-hope-heres-why">first record</a> of 2025. Trump&#8217;s focus on four key areas, driven by macroeconomic considerations, included technology, tariffs, the energy sector, and immigration reform.
What Happened: Some highlights from Trump&#8217;s first week included pouring tariff threats and the <a href="https://www.benzinga.com/25/01/43111153/nvidia-and-ai-stock-rises-as-trump-announces-500-billion-stargate-ai-infrastructure-venture">$500 billion artificial intelligence project &#8211; Stargate</a>. This drove a rally in tech stocks and among the project beneficiaries.
However, experts <a href="https://www.edwardjones.com/us-en/market-news-insights/guidance-perspective/political-impact-portfolios">at</a> Edward Jones said that investors should remember to &#8220;not play politics with their portfolios.&#8221; The note stated that market forces are more powerful than political forces over the long term. &#8220;What sounds promising during election campaigns often may not work in reality.&#8221;
See Also: <a href="https://www.benzinga.com/25/01/43183617/goldman-research-shows-us-market-falls-just-5-after-tariff-imposition-but-7-after-retaliatory-tariffs-we-lose-when-we-punch-and-we-lose-when-were-punched-says-economist">Trump Tariffs A Lose-Lose Proposition? Goldman Research Indicates Markets Fall After Imposition And Retaliation — Economist Warns &#8216;We Lose When We Punch And We Lose When We&#8217;re Punched&#8217;</a>
While new policy proposals were generally more measured than expected, which pleased markets, Edward Jones anticipates volatility as further updates are released. Here is their view on the list of reforms and which sector and stocks may be impacted by it.
<h3 class="wp-block-heading">Will The Energy Companies Support New Reforms?</h3>
The new administration prioritized energy reform, with Trump fulfilling his &#8220;drill, baby, drill&#8221; promise through executive actions supporting U.S. oil and gas production. These included declaring a national energy emergency to ease fossil-fuel production restrictions, expediting energy infrastructure projects, rolling back climate-change initiatives, and withdrawing from the Paris Climate Agreement.
However, Edward Jones strategist Mona Mahajan observed that increasing oil and gas supply would lower energy prices, potentially putting downward pressure on revenue growth and earnings for major energy producers. &#8220;Lower energy and gas prices would, however, be a positive for containing inflation.&#8221;
The exchange-traded fund tracking the sector, iShares US Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>), dropped 2.46% in the four sessions of the last week. Whereas, Chevron (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) slipped 1.64%, Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>) fell 2.10%, and TotalEnergies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TTE#NYSE">TTE</a>) declined 0.64%, in the same period, as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014654/Energy-stocks-1024x576.png" alt="" class="wp-image-750335" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014654/Energy-stocks-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014654/Energy-stocks-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014654/Energy-stocks-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014654/Energy-stocks-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014654/Energy-stocks.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
<h3 class="wp-block-heading">Will Immigration Reform Increase Inflation?</h3>
The executive orders also prioritized immigration reform as key actions included declaring a national emergency, labeling drug cartels as terrorist organizations, and restricting benefits for undocumented immigrants. While mass deportations have not materialized, troop deployments have been enhanced at the border.
Investors will closely monitor any expansion of deportation activity, as this could significantly disrupt labor markets, said the note. &#8220;A smaller labor force could mean not only softer growth in the U.S., but it may also cause employers to pay higher wages to attract workers, which could lead to price increases and renewed inflationary pressure,&#8221; the note added.
See Also: <a href="https://www.benzinga.com/25/01/43189195/higher-yields-less-liquidity-market-uncertainty-how-can-bank-of-japans-u-turn-from-historically-low-interest-rates-impact-us-market">How Bank Of Japan&#8217;s Shift From Historically Low Interest Rates Impacts US Markets: Higher Yields, Less Liquidity, Market Uncertainty And More </a>
<h3 class="wp-block-heading">No Concrete Action On Tariffs Yet</h3>
Despite the threats to impose 25% tariffs on Canada and Mexico, along with 10% on China, starting Feb. 1, no action has been taken. The Trump administration has directed federal agencies to evaluate U.S. trade policy and submit recommendations by April 1.
Tariffs are increasingly likely to target specific sectors and companies and serve as a negotiating leverage rather than a tool for global trade conflicts, the note said. &#8220;The administration is likely more sensitive to enacting tariffs that could increase consumer prices and be inflationary,&#8221; it added.
<h3 class="wp-block-heading">Bets On AI To Drive Technology</h3>
Microsoft Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>), Nvidia Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), and Oracle Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NASDAQ">ORCL</a>) are the U.S.-listed beneficiaries of the private-sector-backed project Stargate, announced by Trump last week. He also signed an executive order to make the U.S. the global leader in artificial intelligence, directing agencies to develop policies to ensure dominance in the field.
&#8220;The investments in data centers and electricity are critical for the U.S. to maintain leadership and be a driver for AI technology and applications. The government investment in technology infrastructure, we believe, will pay dividends in the form of enhanced innovation and productivity in the future,&#8221; the note added.
The ETF tracking AI-linked companies, Invesco AI and Next Gen Software ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGPT#NYSE">IGPT</a>), rose 0.08% in the four sessions of the previous week. While MSFT was up 3.63%, NVDA gained 1.27% and ORCL advanced 6.39%, in the same period, as per <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
<figure class="wp-block-image size-large"><a href="https://pro.benzinga.com/dashboard"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014635/Tech-stocks-1024x576.png" alt="" class="wp-image-750334" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014635/Tech-stocks-1024x576.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014635/Tech-stocks-300x169.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014635/Tech-stocks-768x432.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014635/Tech-stocks-1536x864.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/01/27014635/Tech-stocks.png 1920w" sizes="(max-width: 1024px) 100vw, 1024px" /></a></figure>
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/01/43184963/nvidia-microsoft-or-oracle-which-among-these-stargate-ai-project-beneficiaries-are-the-least-expensive-to-own">Nvidia, Microsoft, Or Oracle: Which Stock Among These Stargate AI Project Beneficiaries Are The Least Expensive To Own?</a></li>
</ul>
Photo courtesy: Shutterstock

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Trump's Executive Orders Fuel Tech, Weaken Energy Stocks In His First Week: Immigration, Tariff Reforms On Cards But Experts Say 'Don't Play Politics With Your Portfolio' (CORRECTED)

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) plans to cut production at its Baton Rouge, Louisiana refinery to as low as 20% of its 522,500 barrel-per-day capacity by Wednesday, as Hurricane Francine is forecasted to pass <a href="https://www.benzinga.com/topic/oil">just east of the facility</a>.
On Tuesday night, Francine intensified into a hurricane, leading Louisiana residents to evacuate inland before its expected landfall on Wednesday, reported Reuters.
As per the report, the storm is forecasted to bring life-threatening winds, heavy rains, and a storm surge of up to 10 feet (3 meters).
The Baton Rouge refinery, the sixth largest in the U.S., is scaling back operations in anticipation of the storm.
Exxon spokesperson Lauren Kight said, &#8220;We're closely monitoring and preparing for severe weather that may impact our Baton Rouge operations.&#8221; 
Other major U.S. Gulf oil and gas producers are also gearing up to weather the storm.
On Tuesday, Shell said that it is closely monitoring Tropical Storm Francine and has shut in production at its Perdido, Auger, and Enchilada/Salsa assets due to <a target="_blank" href="https://www.shell.us/media/us-storm-center/shell-us-storm-updates.html" rel="noreferrer noopener">downstream</a> impacts.
The company added that drilling at the Whale asset, which is scheduled to begin operations later this year, has also been safely paused.
According to S&amp;P Global Commodity Insights, the U.S. offshore is currently producing <a target="_blank" href="https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/090924-louisiana-refineries-for-brace-for-tropical-storm-francine-texas-plants-on-guard" rel="noreferrer noopener">approximately</a> 1.8 million barrels per day (b/d) of crude oil and 1.9 billion cubic feet per day (Bcf/d) of natural gas.
This week, Exxon reportedly withdrew from bidding for Galp Energia&#8217;s 40% stake in Namibia&#8217;s Mopane oil discovery. The discovery holds 10 billion barrels of oil and gas, <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40772105/exxon-passes-on-10b-namibian-oil-field-report" rel="noreferrer noopener">valued at over $10 billion</a>.
Investors can gain exposure to the XOM via&nbsp;Energy Select&nbsp;Sector&nbsp;SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: Exxon shares are down more than 1% at $109.67 at the last check Wednesday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40556466/exxon-bets-big-on-oil-expects-crude-demand-to-defy-green-transition" target="_blank" rel="noreferrer noopener">Exxon Bets Big On Oil: Expects Crude Demand To Defy Green Transition</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image: Shutterstock

Exxon, Other US Oil Majors Brace For Tropical Storm Francine: Report

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading higher premarket Monday. The oil major has reportedly withdrawn from the competition to acquire half of Galp Energia&#8216;s (OTC:<a class="ticker" href="https://www.benzinga.com/stock/GLPEY#OTC">GLPEY</a>) stake in a significant oil discovery in Namibia.
Earlier, over 12 big oil companies had shown interest in Galp&#8217;s 40% stake in the offshore Mopane discovery, reported Reuters.
The Mopane discovery is estimated to hold at least 10 billion barrels of oil and gas equivalent and could be valued at over $10 billion. Galp also proposes that the buyer operate the field.
As per the report, the reasons for Exxon&#8217;s withdrawal are unclear, but other companies continue to pursue the sale.&nbsp;&nbsp;
This year, other major oil companies showed interest in expanding their presence in Namibia.
TotalEnergies signed agreements to increase its stake in Namibia&#8217;s blocks 2913B &amp; <a target="_blank" href="https://www.benzinga.com/markets/equities/24/01/36572202/totalenergies-99m-investment-boosts-its-share-in-namibian-oil-discovery-blocks" rel="noreferrer noopener">2912, collaborating with QatarEnergy</a>.
Also, Shell stated its plans to drill exploration and appraisal wells in the area, shifting focus south of Namibia where recent discoveries in the prolific <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39683994/shell-requests-approval-for-exploration-wells-off-south-africas-coast-report" rel="noreferrer noopener">Orange Basin suggest further potential</a>.
Last week, Exxon inked a deal with&nbsp;Abu Dhabi National Oil Company (ADNOC), under which ADNOC will acquire a&nbsp;35%&nbsp;equity stake in Exxon Mobil&#8217;s proposed low-carbon hydrogen and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/40713530" rel="noreferrer noopener">ammonia production facility in Baytown, Texas</a>.
Investors can gain exposure to the XOM via&nbsp;Energy Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: XOM shares are up 0.65% at $113.37 at the last check premarket Monday.
Photo: Del Henderson Jr. via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40556466/exxon-bets-big-on-oil-expects-crude-demand-to-defy-green-transition" target="_blank" rel="noreferrer noopener">Exxon Bets Big On Oil: Expects Crude Demand To Defy Green Transition</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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Exxon Passes On $10B Namibian Oil Field: Report

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading lower today. The company inked a deal with Abu Dhabi National Oil Company (ADNOC), under which ADNOC will acquire a 35% equity stake in Exxon Mobil's proposed low-carbon hydrogen and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/b40705073/khaled-bin-mohamed-bin-zayed-witnesses-signing-ceremony-for-adnoc-and-exxonmobil-partnering-in-wor" rel="noreferrer noopener">ammonia production facility in Baytown, Texas</a>.
The agreement marks the company&#8217;s significant investment in U.S. energy production and the global energy transition. The final investment decision is anticipated in 2025, with startup projected for 2029.
The facility is expected to become the world's largest of its kind upon startup, subject to supportive government policy and regulatory approvals.
It aims to produce up to 1 billion cubic feet of low-carbon hydrogen daily, with about 98% of CO2 removed, and over 1 million tons of low-carbon ammonia annually.
The company aims to reduce greenhouse gas emissions in hard-to-decarbonize sectors, meet rising demand for lower-carbon fuels, and advance the goal of achieving net-zero emissions.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40556466/exxon-bets-big-on-oil-expects-crude-demand-to-defy-green-transition" rel="noreferrer noopener">Exxon Bets Big On Oil: Expects Crude Demand To Defy Green Transition</a>
Darren Woods, ExxonMobil Chairman and CEO, said, &#8220;This is a world-scale project in a new global energy value chain. Bringing on the right partners is key to accelerating market development, and we&#8217;re pleased to add ADNOC&#8217;s proven experience and global market insights to our Baytown facility.&#8221;
Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, stated, &#8220;This strategic investment is a significant step for ADNOC as we grow our portfolio of lower-carbon energy sources and deliver on our international growth strategy.&#8221;
&#8220;We look forward to partnering with ExxonMobil on this low carbon-intensity and technologically advanced project to meet rising demand and help decarbonize heavy-emitting sectors.&#8221;
Last month, Exxon Mobil reportedly planned to sell conventional oil assets in the Permian Basin,<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40596410/exxon-mobil-eyes-permian-assets-sale-to-fuel-shale-expansion-report" rel="noreferrer noopener"> which could be valued at&nbsp;$1 billion</a>.
Investors can gain exposure to the XOM via&nbsp;Energy Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: XOM shares are down 0.54% at $114.84 at the last check Wednesday.
Photo: Del Henderson Jr. via Shutterstock
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40467815/arbitration-to-uncover-hidden-value-of-hess-guyana-oil-assets-in-exxon-mobil-vs-chevron-dispute-" target="_blank" rel="noreferrer noopener">Arbitration To Uncover Hidden Value Of Hess' Guyana Oil Assets In Exxon Mobil vs. Chevron Dispute: Report</a></li>
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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ExxonMobil Strikes Major Hydrogen Deal: ADNOC Takes Stake In Proposed Low-Carbon Texas Project

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) is reportedly planning to sell conventional oil assets in the Permian Basin, which could be valued at $1 billion.
The company is planning to shift its focus to expanding shale production following the completion of $60 billion acquisition of Pioneer Natural Resources Co. in May, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-08-27/exxon-seeks-to-sell-conventional-permian-assets-for-1-billion?sref=TBDibEcD" rel="noreferrer noopener">reported</a> Bloomberg.
Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40335015/exxon-mobil-reduces-staff-after-pioneer-merger-report" rel="noreferrer noopener">Exxon Mobil Reduces Staff After Pioneer Merger: Report</a>
The assets include older wells in the Permian&#8217;s Central Basin that produce small but steady oil volumes, the report noted, citing sources familiar with the matter.
The company said in a statement responding to questions from Bloomberg News, that is &#8220;exploring market interest for select conventional assets in West Texas and South East New Mexico.&#8221;
&#8220;This decision is consistent with our strategy to continually evaluate our portfolio.&#8221;
Read: <a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40169109/exxon-mobils-strong-q2-results-and-production-gains-offset-by-economic-concerns-ana" rel="noreferrer noopener">Exxon Mobil&#8217;s Strong Q2 Results And Production Gains Offset By Economic Concerns: Analysts Cautiously Optimistic</a>
This week, Exxon Mobil predicted crude demand to stay above 100 million barrels per day through 2050, with demand leveling off post-2030. The company added that without new investments, oil supply could drop to under 30 million barrels per day by <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40556466/exxon-bets-big-on-oil-expects-crude-demand-to-defy-green-transition" rel="noreferrer noopener">2030, risking a major shortfall</a>.
Exxon stated that it plans to produce 4.3 million barrels of oil and gas daily this year.
In July, the energy giant finalized a deal to sell its Malaysian oil and gas assets to state energy firm&nbsp;Petronas, marking its exit from the country&#8217;s upstream sector, where <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40131010/exxonmobils-q2-earnings-permian-dominance-drives-production-growth-plans-19b-buyback-in-fy24" rel="noreferrer noopener">it&nbsp;once held a dominant position</a>.
Investors can gain exposure to the XOM via&nbsp;Energy Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: XOM shares are down 0.23% at $117.41 premarket at the last check Wednesday.
Photo: Del Henderson Jr. via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/08/40467815/arbitration-to-uncover-hidden-value-of-hess-guyana-oil-assets-in-exxon-mobil-vs-chevron-dispute-" target="_blank" rel="noreferrer noopener">Arbitration To Uncover Hidden Value Of Hess&#8217; Guyana Oil Assets In Exxon Mobil vs. Chevron Dispute: Report</a></li>
</ul>

Exxon Mobil Eyes Permian Assets Sale To Fuel Shale Expansion: Report

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading higher on Monday. In its latest global oil outlook, the company stated that it expects crude demand to remain above <a target="_blank" href="https://corporate.exxonmobil.com/-/media/global/files/global-outlook/2024/global-outlook-executive-summary.pdf" rel="noreferrer noopener">100</a> million barrels per day through 2050.
Exxon&#8217;s projected stronger demand supports its ambitious production growth plans, and it projects that oil demand will plateau beyond 2030.
The outlook reflects a natural decline in oil production of about 15% per year, nearly double the IEA&#8217;s previous estimate of 8%.
This increase is the result of the world's shifting energy mix toward unconventional sources of oil and natural gas.
Exxon says that, without new investments, global oil supplies could drop by over 15 million barrels per day in the first year, potentially falling to under 30 million barrels per day by 2030, leaving a 70 million barrel daily shortfall.
Exxon projects that electric vehicles will have a minimal impact on long-term global oil demand and adds that &#8220;If every new car sold in the world in 2035 were electric, oil demand in 2050 would still be 85 million barrels per day.&#8221;
Exxon Economics, Energy and Strategic Planning Director Chris Birdsall told Reuters, &#8220;Oil and gas demand have a very, very long runway and will continue to grow over the next few years.&#8221;
He added, &#8220;Global oil and natural gas supplies would virtually disappear without continued investments.&#8221;
&#8220;The biggest reason for the change is the shift to more short-cycle unconventional assets.&#8221;
As per Reuters report, Exxon&#8217;s outlook on global carbon emissions is more cautious than BP p.l.c. &#8216;s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BP#NYSE">BP</a>), with significant reductions expected post-2029, compared to BP&#8217;s mid-decade target.
Exxon plans to produce 4.3 million barrels of oil and gas daily this year—30% more than Chevron Corporation&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) current output—while BP aims to cut its production to around 2 million barrels per day by 2030.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40467815/arbitration-to-uncover-hidden-value-of-hess-guyana-oil-assets-in-exxon-mobil-vs-chevron-dispute-" rel="noreferrer noopener">Arbitration To Uncover Hidden Value Of Hess&#8217; Guyana Oil Assets In Exxon Mobil vs. Chevron Dispute: Report</a>
Investors can gain exposure to the XOM via&nbsp;Energy Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40335015/exxon-mobil-reduces-staff-after-pioneer-merger-report" rel="noreferrer noopener">Exxon Mobil Reduces Staff After Pioneer Merger: Report</a>
Price Action: XOM shares are up 0.63% at $117.05 at the last check Monday.
Photo: Del Henderson Jr. via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com//node/40553848" target="_blank" rel="noreferrer noopener">Baker Hughes Says US Oil And Gas Rig Count Declines For Second Week: Report</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Exxon Bets Big On Oil: Expects Crude Demand To Defy Green Transition

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading lower on Tuesday. An arbitration panel deciding the high-profile dispute between Exxon Mobil and Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) will reportedly examine the hidden value of Hess Corporation&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) oil assets in Guyana.
Chevron and Hess maintain that the valuation of the Guyana asset shouldn&#8217;t affect the arbitration, arguing that the transaction doesn&#8217;t constitute a change in control, reported Reuters.
The dispute centers on whether the deal triggers Exxon&#8217;s right of first refusal. The report noted Chevron&#8217;s CEO Michael Wirth has ruled out a compromise with Exxon and CNOOC, while Exxon&#8217;s CEO Darren Woods is considering a counterbid for all or part of Hess Guyana&#8217;s stake if the arbitration supports their claim.
Read: <a target="_blank" href="https://www.benzinga.com/m-a/24/05/39047788/hess-shareholders-approve-53-billion-merger-with-chevron" rel="noreferrer noopener">Hess Shareholders Approve $53 Billion Merger With Chevron</a>
&#8220;Exxon and CNOOC continue to ignore the plain language of the operating agreement, and Chevron and Hess remain confident that the arbitration will confirm that the Stabroek ROFR (right of first refusal) does not apply to the merger,&#8221; the companies said in response to Reuters questions.
As per the report, analysts suggest Chevron may need to adjust its offer or settle to resolve the dispute, especially if the valuation is higher than anticipated.
This month, Exxon Mobil and CNOOC filed arbitration claims asserting their right of first refusal on the sale of Hess&#8217; stake in a Guyana oil joint venture, which could obstruct <a target="_blank" href="https://www.benzinga.com/markets/equities/24/08/40091118/chevrons-53b-hess-deal-faces-uncertainty-amid-exxon-and-cnooc-arbitration-claims" rel="noreferrer noopener">Chevron&#8217;s $53 billion acquisition of Hess</a>. The arbitration panel&#8217;s decision is now anticipated in the second half of 2025.
Investors can gain exposure to the XOM via&nbsp;Energy Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: XOM shares are down 2.89% at $115.10 at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Del Henderson Jr. via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40169109/exxon-mobils-strong-q2-results-and-production-gains-offset-by-economic-concerns-ana" target="_blank" rel="noreferrer noopener">Exxon Mobil&#8217;s Strong Q2 Results And Production Gains Offset By Economic Concerns: Analysts Cautiously Optimistic</a></li>
</ul>

Legal

Arbitration To Uncover Hidden Value Of Hess' Guyana Oil Assets In Exxon Mobil vs. Chevron Dispute: Report

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading lower premarket Tuesday. The company reportedly issued layoff notices to 59 employees as part of a workforce restructure following its $60 billion<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38646857/whats-going-on-with-exxon-mobil-shares-today" rel="noreferrer noopener"> acquisition of </a><a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38646857/whats-going-on-with-exxon-mobil-shares-today" rel="noreferrer noopener">Pioneer Natural Resources</a>.
Exxon said it offered jobs to over 1,500 of Pioneer&#8217;s roughly 2,200 employees as part of the merger, reported Reuters.
The layoff notices include 39 workers from Las Colinas, the former headquarters of Pioneer Natural Resources in Irving, Texas.
Exxon did not specify how many of the 59 employees would be laid off versus offered new positions.
The oil and gas company stated that employees receiving layoff notices have either been offered transition roles or opted not to join the company. The notices also include 18 workers from Midland and two from the Concho Valley, both in West Texas.
This month, the company reported second-quarter revenue of $93.060 billion, beating the consensus of $90.987 billion, and&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40131010/exxonmobils-q2-earnings-permian-dominance-drives-production-growth-plans-19b-buyback-in-fy24" rel="noreferrer noopener">adjusted EPS of $2.14, surpassing the $2.01 estimate</a>.
Investors can gain exposure to the XOM via&nbsp;Energy Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: XOM shares are down 0.35% at $118.58 premarket at the last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Del Henderson Jr. via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/08/40169109/exxon-mobils-strong-q2-results-and-production-gains-offset-by-economic-concerns-ana" target="_blank" rel="noreferrer noopener">Exxon Mobil&#8217;s Strong Q2 Results And Production Gains Offset By Economic Concerns: Analysts Cautiously Optimistic</a></li>
</ul>

Exxon Mobil Reduces Staff After Pioneer Merger: Report

Exxon Mobil Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading lower today. The sector might be moving amid overall market weakness due to economic slowdown concerns following recent U.S. data, which could negatively impact demand.
Last week, the company reported second-quarter revenue of $93.060 billion, beating the consensus of $90.987 billion, and <a target="_blank" href="https://www.benzinga.com/news/earnings/24/08/40131010/exxonmobils-q2-earnings-permian-dominance-drives-production-growth-plans-19b-buyback-in-fy24" rel="noreferrer noopener">adjusted EPS of $2.14, surpassing the $2.01 estimate</a>.
Truist Securities analyst Neal Dingmann writes that Exxon is already benefiting from the Pioneer acquisition, with Permian production nearly doubling to 1.2 mmboepd and potential operational efficiencies from the combined assets. Additionally, Guyana production reached a record over 630 mbpd, surpassing the current FPSO capacity.
The analyst adds that despite potential efficiencies, the company's free cash flow yield might only be in the high single digits next quarter, trailing larger E&amp;Ps.
However, the analyst expects it to sustain over $4 billion in dividends and a similar amount in stock buybacks (having paid $5.2 billion last quarter), though its yields are lower compared to some major operators.
The analyst revised estimates for EBITDAX to $76.3 billion (from $78.9 billion) vs. consensus of $76.8 billion in FY24 and $92.9 billion (from $94.3 billion) vs. cons. of $82.3 billion in FY25.
Dingmann reiterated the Hold rating <a target="_blank" href="https://www.benzinga.com/quote/xom/analyst-ratings" rel="noreferrer noopener">with a price target of $121</a>.
Goldman Sachs analyst Neil Mehta (Neutral-rated with a $119 price target) says that worldwide production was 4,358 MBOE/d, exceeding GS's estimate of 4,212 MBOE/d and FactSet's consensus of 4,234 MBOE/d, driven by higher U.S. and international liquids and increased international gas production.
The analyst forecasts EBITDA of $77.1 billion in FY24, $83.4 billion in FY25 and, $87.8 billion in FY26.
Investors can gain exposure to the XOM via&nbsp;Energy Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39746845/exxon-mobil-arbitration-throws-wrench-in-chevron-hess-merger-timeline-report" rel="noreferrer noopener">Exxon Mobil Arbitration Throws Wrench in Chevron-Hess Merger Timeline: Report</a>
Price Action: XOM shares are down&nbsp;1.29% at&nbsp;$115.37 at&nbsp;the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Del Henderson Jr. via Shutterstock

Price Target

Reiteration

Analyst Ratings

Exxon Mobil's Strong Q2 Results And Production Gains Offset By Economic Concerns: Analysts Cautiously Optimistic

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading lower after the company reported<a target="_blank" href="https://www.benzinga.com/pressreleases/24/08/b40125906/exxonmobil-announces-second-quarter-2024-results" rel="noreferrer noopener"> second-quarter FY24 results</a>.&nbsp;
Total revenues and other income&nbsp;stood at&nbsp;$93.060 billion, beating the consensus of&nbsp;$90.987 billion.
Net production stood at 4,358 thousand oil-equivalent barrels per&nbsp;day, an increase of 15% from the previous quarter, driven by increased volumes from Pioneer, Guyana, and the heritage Permian assets.
Adjusted net profit came in at&nbsp;$9.24 billion, up from&nbsp;$8.22 billion&nbsp;in the prior quarter. Adjusted EPS stood at&nbsp;$2.14, <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">beating the consensus of&nbsp;$2.01</a>.
The&nbsp;company&#8217;s&nbsp;capital and exploration expenditures stood at&nbsp;$7.04 billion&nbsp;in the&nbsp;second quarter.
Related: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39670123/exxon-mobils-stock-slides-oil-up-gas-down-makes-for-mixed-q2-earnings-outlook" rel="noreferrer noopener">Exxon Mobil&#8217;s Stock Slides: Oil Up, Gas Down Makes For Mixed Q2 Earnings Outlook</a>
The company achieved a cumulative structural cost savings of&nbsp;$10.7 billion&nbsp;versus 2019, with an additional&nbsp;$0.6 billion&nbsp;during the quarter. The company plans to deliver cumulative savings totaling&nbsp;$5 billion through the end of 2027 versus 2023.
Darren Woods, chairman and chief executive officer, said, &#8220;We achieved record quarterly production from our low-cost-of-supply Permian and Guyana assets, with the highest oil production since the Exxon and Mobil merger. We also achieved a record in high-value product sales, growing by 10% versus the first half of last year.&#8221;
&#8220;We closed on our transformative merger with Pioneer in about half the time of similar deals. And we&#8217;re continuing to build businesses such as Proxxima, carbon materials and virtually carbon-free hydrogen, with approximately 98% of CO2&nbsp;removed, that will create value long into the future.&#8221;
Related: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38851165/big-oil-big-bet-indonesias-pertamina-exxon-aim-for-gigatonne-co2-grab" rel="noreferrer noopener">Big Oil, Big Bet: Indonesia&#8217;s Pertamina &amp; Exxon Aim For Gigatonne CO2 Grab</a>
Dividend: Exxon declared a&nbsp;second-quarter&nbsp;dividend of&nbsp;$0.95&nbsp;per share, payable on September 10 to shareholders of record as of August 15.
The company&#8217;s year-to-date shareholder distributions totaled $16.3 billion, comprising $8.1 billion in dividends and $8.3 billion in share repurchases.
Following the Pioneer transaction, the annual share repurchase pace has increased to $20 billion through 2025, with plans to repurchase over $19 billion of shares in 2024, assuming favorable market conditions.
FY24 Outlook: The company anticipates full-year capital and exploration expenditures of about $28 billion, including ExxonMobil&#8217;s $25 billion guidance and<a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener"> $3 billion for eight months of Pioneer</a>.
Last month, the energy giant finalized a deal to sell its Malaysian oil and gas assets to state energy firm&nbsp;Petronas, marking its exit from the country&#8217;s upstream sector where it <a target="_blank" href="https://www.benzinga.com/news/24/07/39859459/whats-going-on-with-exxon-mobil-shares-today" rel="noreferrer noopener">once held a dominant position</a>.
Investors can gain exposure to the XOM via&nbsp;Energy&nbsp;Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39746845/exxon-mobil-arbitration-throws-wrench-in-chevron-hess-merger-timeline-report" rel="noreferrer noopener">Exxon Mobil Arbitration Throws Wrench in Chevron-Hess Merger Timeline: Report</a>
Price Action: XOM shares are down 0.20% at $116.72 premarket at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Del Henderson Jr. via Shutterstock
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/24/07/39750080/judge-throws-out-baltimores-climate-lawsuit-against-energy-giants-exxon-bp-chevron-report" target="_blank" rel="noreferrer noopener">Judge Throws Out Baltimore&#8217;s Climate Lawsuit Against Energy Giants Exxon, BP, Chevron: Report</a></li>
</ul>

ExxonMobil's Q2 Earnings: Permian Dominance Drives Production Growth, Plans $19B Buyback In FY24

Venezuelan President Nicolás Maduro faces intense criticism following his declared victory in a <a href="https://www.benzinga.com/news/24/07/40003819/elon-musk-calls-venezuela-elections-a-travesty-as-nicolas-maduro-wins-third-term-amid-fraud-allegati">contentious presidential election.</a>
What Happened: The opposition, led by candidate Edmundo González, disputes the results, claiming they secured a significant win, according to the Associated Press.
Thousands of supporters rallied outside the United Nations' offices in Caracas, asserting González&#8217;s victory. 
Opposition leader Maria Corina Machado, addressing the crowd from atop a truck, called on the National Electoral Council (CNE) to release the voting tally sheets from each precinct, questioning the transparency of the election process.
Machado claimed the opposition coalition had obtained over 84% of the tallies, expressing confidence in González&#8217;s victory. She emphasized the opposition&#8217;s commitment to a peaceful transition, while González predicted his final vote count would exceed 8 million, compared to the 5.1 million reported by the CNE for Maduro. 
González, along with Machado, urged supporters to maintain calm and avoid violence during the protests.
The Organization of American States (OAS) criticized the CNE for not releasing detailed results, labeling the situation as a form of repression and calling for a possible new election under international observation. 
Maduro&#8217;s allies, including National Assembly President Jorge Rodriguez and lawmaker Diosdado Cabello, are defending the president&#8217;s victory and condemning the opposition as fascists. 
See Also: <a href="https://www.benzinga.com/news/24/07/40002632/kamala-harris-the-will-of-the-venezuelan-people-must-be-respected-as-socialist-nicol-s-maduro-faces">Kamala Harris Says &#8216;The Will Of The Venezuelan People Must Be Respected&#8217; </a>
Why It Matters: Venezuela possesses the world's largest proven crude oil reserves. 
But, under Maduro, the nation has suffered severe economic decline since 2013, including plummeting oil prices, shortages, and hyperinflation.
As a result, Venezuela suffers from widespread social unrest and the largest emigration crisis in Latin America&#8217;s recent history — over 7.7 million Venezuelans have <a href="https://www.pbs.org/newshour/show/venezuela-in-political-standoff-after-both-maduro-and-opposition-claim-election-victory">reportedly</a> left the country over the past decade.
Protests erupted nationwide on Monday, with significant unrest in Caracas where riot police clashed with demonstrators. The Attorney General reported <a href="https://www.reuters.com/world/americas/venezuela-ruling-party-opposition-rally-supporters-election-dispute-2024-07-30/">hundreds</a> of arrests, with at least one dead and dozens of security personnel injured.
Notably, opposition leader Freddy Superlano was <a href="https://www.bloomberg.com/news/articles/2024-07-30/venezuela-apprehends-opposition-figure-amid-election-protests">detained</a> under unclear circumstances, raising concerns about the government&#8217;s response to dissent.
The election was considered a critical moment for Venezuela. It offered a chance for change after 25 years of single-party rule.
The Biden administration <a href="https://www.benzinga.com/news/24/04/38290486/team-biden-considers-reinstating-oil-sanctions-on-venezuela-over-election-concerns-report" target="_blank" rel="noreferrer noopener">contemplated reinstating oil sanctions</a> on Venezuela due to concerns over the fairness of the election. The disputed results have once again cast a shadow over the election process.
Long lines formed outside stores in Caracas as people braced for potential food shortages amid ongoing demonstrations.
Maduro accused the opposition of attempting a coup. 
In a symbolic act of defiance, protesters are <a href="https://www.register-herald.com/news/nation_world/hugo-ch-vez-statues-targeted-across-venezuela-in-post-election-unrest/article_539d4528-69ef-57bf-ad06-66310399cc60.html">toppling</a> statues of former President Hugo Chávez — Maduro&#8217;s mentor. 
Price Action: On Tuesday, major oil companies finished in the green:
<ul>
<li>Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) was up 1.90% to $159.57.</li>
<li>Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) was up 1.78% to $118.17.</li>
<li>Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) was up 0.69% to $27.64.</li>
<li>ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) was up 0.72% to $109.91.</li>
<li>EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) was up 0.75% to $126.15.</li>
</ul>
Most ETFs tied to the oil sector also closed higher, <a href="https://pro.benzinga.com/dashboard">according to Benzinga Pro</a>: SPDR Select Sector Fund &#8211; Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was up 1.55%; Vanguard Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>) was up 1.5%; and iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) finished 1.29% higher.
Only United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) traded lower on Tuesday, down 0.97%.
Now Read: 
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<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40049081/small-caps-eyes-strongest-month-against-tech-stocks-in-22-years-why-presidential-el">Small Caps Eye Strongest Month Against Tech Stocks In 22 Years: Why Presidential Elections Could Push Russell 2000 To Record Highs</a></li>
</ul>
Image: Shutterstock

Commodities

Global

Tensions Rise In Venezuela As Opposition Disputes Election Results: Impact On Oil ETFs

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) and Shell PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SHEL#NYSE">SHEL</a>) subsidiaries agreed to sell a group of assets in the U.K. Southern North Sea to a British energy company, Viaro Energy, for an undisclosed <a target="_blank" href="https://www.viaro.co.uk/post/viaro-energy-signs-agreement-to-take-over-shell-exxonmobil-s-uk-southern-north-sea-assets" rel="noreferrer noopener">amount</a>.
In particular, Shell U.K. Limited and Esso Exploration and Production UK Limited will sell a portfolio of 11 operated offshore assets and one exploration field, including Shamrock, Caravel, Corvette, Brigantine, Leman, Galleon, Skiff, Carrack Main, Cutter, Carrack East, Barque, and Clipper.
These assets are linked to the Shell-operated onshore Bacton Gas Processing Terminal via the Leman and Clipper fields.
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39683994/shell-requests-approval-for-exploration-wells-off-south-africas-coast-report" rel="noreferrer noopener">Shell Requests Approval for Exploration Wells Off South Africa&#8217;s Coast: Report</a>
These assets produced around 28,000 boepd in 2023, representing about 5% of the U.K.&#8217;s total gas output.
Francesco Mazzagatti, CEO of Viaro Energy, said, &#8220;Shell and ExxonMobil's Southern North Sea portfolio is not only the backbone of the UK's energy production and security, but it also represents one of the best strategically placed solutions that have the potential to play an important role in the energy transition. With strong potential for wind farm synergies, electrification of upstream assets, CCS and hydrogen supply, this acquisition fits Viaro's ongoing and planned activities across the energy sector perfectly."
This month, Exxon reportedly finalized a deal to sell its Malaysian oil and gas assets to state energy firm&nbsp;Petronas, marking its exit from the country's upstream sector, where it <a target="_blank" href="https://www.benzinga.com//node/39859459" rel="noreferrer noopener">once held a dominant position</a>.
Investors can gain exposure to the XOM via&nbsp;Energy&nbsp;Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: XOM shares are up 1.76% at $118.15 at the last check Tuesday.
Photo: Del Henderson Jr. via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com//node/39746845" target="_blank" rel="noreferrer noopener">Exxon Mobil Arbitration Throws Wrench in Chevron-Hess Merger Timeline: Report</a></li>
</ul>

Asset Sales

What's Going On With Exxon Mobil Shares Tuesday?

Former President Donald Trump accused the Organization of the Petroleum Exporting Countries (OPEC) of deliberately driving down <a href="https://www.benzinga.com/topic/oil">oil prices</a> to benefit Vice President Kamala Harris, warning that her potential presidency could be a &#8220;disaster&#8221; for the U.S.
What Happened: Trump took to his social media platform, Truth Social, to voice his concerns about OPEC&#8217;s actions. He <a href="https://truthsocial.com/@realDonaldTrump/posts/112871592399001658">wrote</a>, &#8220;OPEC nations are going all out to drive down oil prices in the hope that crazy Kamala Harris will win. Then they will really reap the rewards! She will be a disaster for the USA!&#8221;
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="394" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61-1024x394.png" alt="" class="wp-image-463915" style="width:593px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61-1024x394.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61-300x115.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61-768x295.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/07/30020934/image-61.png 1227w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Trump&#8217;s comments come in the wake of a recent <a href="https://www.benzinga.com/markets/esg/24/07/39888337/what-a-kamala-harris-presidency-could-mean-for-oil-stocks-chevron-marathon-move-lower">decline in oil stocks</a>, which occurred amid speculation that Harris might adopt a more stringent stance on the oil and gas industry if she were to become the Democratic presidential nominee and win the White House race.
At the time of publication, oil stocks remain in the red after President Joe Biden opted out of the 2024 election race against Trump and endorsed Harris on Jul. 21 as a top presidential nominee. 
WTI Crude has dropped from $78.64 to $75.43 following Harris&#8217;s nomination for the presidential run, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro data</a>.
Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>), Marathon Oil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>), Exxon Mobil (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>), ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>), and EOG Resources (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) are all experiencing declines.
ETFs tied to the oil sector have also mirrored this downward trend, with United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>), SPDR Select Sector Fund &#8211; Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), Vanguard Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>), and iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) all under pressure.
If Harris wins, her administration might focus on climate policies, including reducing carbon emissions and increasing funding for <a href="https://www.benzinga.com/markets/esg/24/07/39888337/what-a-kamala-harris-presidency-could-mean-for-oil-stocks-chevron-marathon-move-lower">renewable energy projects</a>. This shift could result in higher compliance costs and stricter regulatory requirements for the oil industry, potentially affecting profitability.
See Also: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/07/40015199/oil-prices-remain-under-pressure-despite-rising-middle-east-tensions-a-bearish-tria?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Oil Prices Remain Under Pressure Despite Rising Middle East Tensions: Analyst Says Bearish Price Trend On Horizon</a>
Why It Matters: A report from Citi on Monday suggested that a Trump presidency could be &#8220;net bearish&#8221; for oil prices. This is due to <a href="https://www.benzinga.com/markets/24/07/40011423/net-bearish-for-oil-citi-warns-investors-of-trump-presidency-risks">his oil-friendly policies</a> and potential tariffs, which could increase oil supply and lower prices.
However, according to the same report, the main threat to oil markets under a <a href="https://www.benzinga.com/news/24/07/39810934/trumps-second-term-could-trigger-global-inflation-warn-analysts-2024-2025-is-going-to-be-very-differ" target="_blank" rel="noreferrer noopener">Trump presidency</a> would be pressure on Iran. If Trump were to adopt his previous maximum-pressure campaign on Iran once again, Iranian oil exports could be reduced by 500 to 900 thousand barrels per day, impacting global markets. 
Furthermore, Goldman Sachs warned last week that the next <a href="https://www.benzinga.com/markets/equities/24/07/39985035/goldman-sachs-warns-of-limited-oil-supply-options-for-next-us-administration">U.S. administration would have limited options</a> to significantly boost domestic oil supply due to low strategic petroleum reserves and potential regulatory easing.
In a broader context, the U.S. has been producing record amounts of oil, averaging 12.9 million barrels <a href="https://www.benzinga.com/markets/commodities/24/06/39510687/3-stocks-to-buy-as-oil-prices-collapse-opec-panics">per day in 2023</a>. This surge in production has led to concerns of a potential glut, reminiscent of the 2020 COVID lockdown period.
Moreover, Trump&#8217;s rift with OPEC is not new. In April 2018, the former president tweeted that OPEC had driven oil prices "artificially very high," a move that "will not be accepted."
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Looks like OPEC is at it again. With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!
&mdash; Donald J. Trump (@realDonaldTrump) <a href="https://twitter.com/realDonaldTrump/status/987284041304100864?ref_src=twsrc%5Etfw">April 20, 2018</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Politics

Trump Accuses OPEC Of Manipulating Oil Prices To Favor Kamala Harris, Warns 'She Will Be A Disaster For The USA!'

Oil stocks fell early Monday amid concerns that Vice President Kamala Harris could take a tougher stance on the oil and gas industry if she becomes the Democratic presidential nominee and wins the <a href="https://www.benzinga.com/general/politics">race for the White House.</a>
As California attorney general, Harris filed lawsuits against fossil fuel companies, supported reducing greenhouse gas emissions, and pushed for a ban on fracking, <a href="https://www.offshore-technology.com/news/will-kamala-harris-take-a-stronger-stance-than-biden-against-oil-and-gas-industry/?cf-view">according</a> to Offshore Technology. Harris has also been critical of offshore oil exploration and defended California's Low Carbon Fuel Standard.
This potential shift in the political landscape has investors worried, with oil majors seeing declines on Monday.
<h2 class="wp-block-heading">Oil Stocks Feeling The Heat</h2>
At the time of publication, Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) was down 0.69% to $158.06, Marathon Oil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRO#NYSE">MRO</a>) fell by 0.97% to $28.44, Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) decreased by 0.15% to $115.92, ConocoPhillips (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COP#NYSE">COP</a>) slipped 1.17% to $112.99, and EOG Resources, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EOG#NYSE">EOG</a>) saw a drop of 0.72% to $128.32.
ETFs tied to the oil sector mirrored this downward trend. The Energy Select Sector SPDR Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) was down 0.23%, Vanguard Energy Index Fund ETF Shares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>) fell by 0.19%, and the iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) declined by 0.27%.
<h2 class="wp-block-heading">Renewables Traded In Green</h2>
Meanwhile, ETFs focused on renewable energy stocks were in the green, reflecting optimism about a potential shift towards clean energy under a potential Harris administration. The iShares Global Clean Energy ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICLN#NASDAQ">ICLN</a>) was up 0.51%, and the GRID First Trust NASDAQ Clean Edge Smart Grid Infrastructure Index Fund ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRID#NASDAQ">GRID</a>) rose by 1.11%.
Read Also:<a href="https://www.benzinga.com/news/24/07/39883677/investors-anticipate-unraveling-of-trump-trade-as-biden-exits-presidential-race-but-analyst-says-its"> Investors Anticipate Unraveling Of &#8216;Trump Trade&#8217; As Biden Exits Presidential Race, But Analyst Says &#8216;It&#8217;s A Bit Too Early For The Markets To Declare Victory For Trump&#8217;</a>
<h2 class="wp-block-heading">Harris&#8217; Green Policies, Push For Renewables</h2>
The market&#8217;s reaction highlights investor concerns that Harris, known for her environmental advocacy, could enforce stricter regulations on fossil fuels and bolster support for renewable energy initiatives. As Vice President, Harris has supported various green policies, and her presidential campaign is expected to intensify the push towards renewable energy, potentially at the expense of traditional oil and gas companies.
Oil majors have reason to be cautious. If Harris runs for president and wins, her administration might focus on climate policies, including reducing carbon emissions and increasing funding for renewable energy projects. This shift could result in higher compliance costs and stricter regulatory requirements for the oil industry, potentially affecting their profitability.
<h2 class="wp-block-heading">Harris&#8217; Potential Leadership Signals A Greener Future</h2>
The early trading slump in oil stocks underscores the market&#8217;s sensitivity to political developments, especially those that could significantly alter the energy sector&#8217;s landscape. In contrast, the positive movement in renewable energy ETFs suggests that investors are betting on a greener future under Harris&#8217;s potential leadership.
As the political climate heats up, oil majors might need to brace for a more challenging operating environment. The question on everyone&#8217;s mind: Will Harris&#8217;s potential presidency mean a seismic shift for the energy sector? Industry leaders are closely watching and preparing for any regulatory adjustments that may arise.
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What A Kamala Harris Presidency Could Mean For Oil Stocks: Chevron, Marathon Move Lower

Exxon Mobil Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) reportedly shut down its 251,800 barrels per day Joliet, Illinois refinery on Monday due to a power outage caused by a storm.
The refinery shutdown occurred due to severe weather conditions involving heavy wind and rain on Monday night, reported Reuters.
The Joliet refinery primarily processes Canadian crude oil and has a production capacity of approximately 9 million gallons per day of gasoline and diesel.
The report quoted one of the sources stating, &#8220;Situations like this take time to recover as they will have to see if the sudden shutdown did damage to any of the units.&#8221;
Yesterday, Exxon Mobil stated its plans to drill up to 30 wells for its seventh oil project in <a target="_blank" href="https://www.benzinga.com//node/39788616" rel="noreferrer noopener">Guyana, named Hammerhead</a>.
Exxon anticipates Hammerhead will produce 120,000-180,000 barrels of crude daily, less than the 250,000 barrels per day from its largest vessels in Guyana.
The oil giant will report second-quarter FY24 results <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">on August 2, 2024</a>.
Investors can gain exposure to the XOM via&nbsp;Energy&nbsp;Select&nbsp;Sector&nbsp;SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and IShares U.S.&nbsp;Energy&nbsp;ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: XOM shares are up 0.05% at $116.10 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Del Henderson Jr. via Shutterstock
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What's Going On With Exxon Mobil Shares Today?

The U.S. Federal Trade Commission reportedly plans to delay its decision&nbsp;on Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Hess Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) merger until after the settlement of an arbitration case with Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>).
The arbitration case with Exxon, claiming a right of first refusal over Hess&#8217;s main asset in Guyana, is expected to extend into the fourth quarter, delaying the FTC&#8217;s review by several months, <a href="https://www.bloomberg.com/news/articles/2024-07-11/chevron-hess-decision-delayed-by-ftc-to-after-exxon-arbitration">reported</a> Bloomberg.
The FTC plans to announce its decision after the arbitration concludes, the report cited people familiar with the matter.
Chevron and Hess both stated they anticipate completing the FTC review process in the third quarter.
Earlier this month, the final member was appointed to a three-person arbitration panel tasked with resolving the&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39613628/dispute-over-53b-chevron-hess-merger-heats-up-arbitration-panel-nears-formation-report" rel="noreferrer noopener">Exxon Mobil&nbsp;dispute over&nbsp;the $53 billion merger</a>.
The deal was initially planned to close in the first half of the year. On June 21, the merger of&nbsp;Hess and&nbsp;Chevron&nbsp;was reportedly stalled as the contract arbitration panel remained incomplete <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39432966/hess-chevron-merger-hits-snag-as-arbitration-delays-put-timeline-in-doubt-report" rel="noreferrer noopener">three months&nbsp;after the case was filed</a>.
Investors can gain exposure to the XOM via&nbsp;Energy&nbsp;Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: CVX shares are up 0.48% at $156.00 premarket at the last check Friday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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Exxon Mobil Arbitration Throws Wrench in Chevron-Hess Merger Timeline: Report

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) shares are trading lower today. The oil giant anticipates changes in oil prices to boost second-quarter upstream earnings Q/Q by $0.3 billion to $0.7 <a target="_blank" href="https://investor.exxonmobil.com/sec-filings/all-sec-filings/content/0000034088-24-000042/0000034088-24-000042.pdf" rel="noreferrer noopener">billion</a>.
Conversely, changes in gas prices will negatively impact its second-quarter upstream results by between <a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">$(0.7) billion and $(0.3) billion</a>. 
On the other hand, Exxon Mobil projects that variations in industry margins will impact energy products earnings by $(1.5) billion-$(1.1) billion, specialty products earnings by $(0.1) billion-$0.1 billion and chemical products earnings by $0.0 billion-$0.2 billion.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39496437/exxon-ex-execs-new-firm-to-partner-on-guyanas-next-gas-project-report" rel="noreferrer noopener">Exxon Ex-Exec&#8217;s New Firm To Partner On Guyana&#8217;s Next Gas Project: Report</a>
In May, Exxon Mobil closed its acquisition of&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38646857/whats-going-on-with-exxon-mobil-shares-today" rel="noreferrer noopener">Pioneer Natural Resources Company</a>.
The company expects a 500 &#8211; 550 koebd production boost, reflecting two months of Pioneer production averaged for 91 days for the second quarter. This includes Pioneer production, attributable to ExxonMobil results, of ~46 &#8211; 48 MOEB for the period May 3 to June 30, 2024.&nbsp;
According to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>, analysts estimate Exxon Mobill to report second-quarter adjusted earnings per share of <a href="https://www.benzinga.com/earnings">$2.37 and revenues of $91.86 billion.</a>
Investors can gain exposure to the stock via SPDR Select Sector Fund – Energy Select Sector (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and IShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
XOM Stock Prediction 2024
Equity research analysts on and off Wall Street typically use earnings growth and fundamental research as a form of valuation and forecasting. But many in trading turn to technical analysis as a way to form predictive models for share price trajectory.
Some investors look to trends to help forecast where they believe a stock could trade at a certain point in the future. Looking at Exxon Mobil, an investor could make an assessment about a stock's long term prospects using a moving average and trend line. If they believe a stock will remain above the moving average, which many believe is a bullish signal, they can extrapolate that trend into the future using a trend line. For Exxon Mobil, the 200-day moving average sits at $109.22, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, which is below the current price of $112. For more on charts and trend lines, <a href="https://pro.benzinga.com/">see a description here.</a>
Traders believe that when a stock is above its moving average, it is a generally bullish signal, and when it crosses below, it is a more negative signal. Investors could use trend lines to make an educated guess about where a stock could trade at a later date if conditions remain stable.
Price Action: XOM shares are down 1.16% at $112.05 on the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo: Del Henderson Jr. via Shutterstock
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Exxon Mobil's Stock Slides: Oil Up, Gas Down Makes For Mixed Q2 Earnings Outlook

The final member has been appointed to a three-person arbitration panel tasked with resolving the Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) dispute over Chevron Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>)&#8217;s $53 billion acquisition of Hess Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>).
Each side appoints one arbitrator, and those two then jointly select the third member to complete the three-person panel, reported Reuters.
The report cited one of the people familiar with the matter stating, &#8220;The appointment of the full arbitration panel is now being completed. We expect to learn more about the (proceedings) schedule in the coming weeks.&#8221;
Related: <a href="https://www.benzinga.com/government/24/05/38781945/chuck-schumer-says-trump-might-be-hosting-dinners-for-big-oil-execs-but-ftc-should-side-with-consume" target="_blank" rel="noreferrer noopener">Chuck Schumer Says Trump Might Be &#8216;Hosting Dinners For Big Oil Execs&#8217; But FTC Should Side With Consumers On $53B Chevron-Hess Merger</a>
The formation of the panel marks a significant step in a protracted process that has created uncertainty around the mega-merger. Chevron and Hess merger was earlier anticipated to close in<a target="_blank" href="https://www.benzinga.com/news/24/05/38895327/is-chevrons-53b-acquisition-of-hess-in-jeopardy" rel="noreferrer noopener"> the first half of 2024</a>.
Notably, Exxon initiated an arbitration claim with the International Chamber of Commerce (ICC) in March, claiming it holds a right of first refusal on Hess&#8217;s assets in Guyana.
Exxon manages all oil production in Guyana, one of the world&#8217;s largest recent oil discoveries, in partnership with Hess and China&#8217;s CNOOC.
Exxon claims that Chevron&#8217;s acquisition of Hess is an attempt to bypass its right of first refusal for the valuable Guyana asset.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39479711/exxon-mobil-rakes-in-billions-from-guyana-oil-deal-net-margin-tops-chip-giant-report" rel="noreferrer noopener">Exxon Mobil Rakes In Billions from Guyana Oil Deal, Net Margin Tops Chip Giant: Report</a>
Chevron and Hess argue that this right does not apply because of the merger&#8217;s structure and the wording of the Guyana partnership agreement.
Investors can gain exposure to the XOM via&nbsp;Energy&nbsp;Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Price Action: XOM shares are up 0.18% at&nbsp;$114.38 premarket at the last check Wednesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock
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Dispute Over $53B Chevron-Hess Merger Heats Up, Arbitration Panel Nears Formation: Report

Guyana&#8217;s Ministry of Natural Resources announced that a newly established company, Fulcrum LNG, headed by a former Exxon Mobil Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) executive, has been reportedly selected to collaborate with the Guyana government and Exxon on creating a new independent natural gas development in the country.
The government announced in a statement that Fulcrum LNG provided &#8220;the most comprehensive and technically sound proposal&#8221; among 17 bidders, reported Reuters.
Jesus Bronchalo, who spent 20 years at Exxon, most recently as a vice president in Guyana, founded Fulcrum LNG in July last year in Nevada.
As per the report, the ministry has engaged Fulcrum LNG and Exxon to commence the project, with preliminary discussions currently underway.
The government of Guyana stated that &#8220;Bronchalo&#8217;s past relationship with Exxon was not seen as presenting a conflict of interest since he had severed all ties with said company.&#8221;
The ministry said, &#8220;As the development of the gas resource is not an immediate priority for the company, our government decided to seek a capable independent third-party operator to either work with ExxonMobil or carry out this activity on its own.&#8221;&nbsp;
As per government data, Guyana&#8217;s lucrative agreement with an Exxon Mobil-led consortium in the <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39479711/exxon-mobil-rakes-in-billions-from-guyana-oil-deal-net-margin-tops-chip-giant-report" rel="noreferrer noopener">South American country generated $6.33 billion for the partners</a>.
According to the U.S. Energy Information Administration, the country has an estimated 16 trillion cubic feet of gas off its Caribbean coast.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39485599/exxonmobil-drills-into-ev-future-with-sk-on-lithium-deal" rel="noreferrer noopener">ExxonMobil Drills Into EV Future With SK On Lithium Deal</a>
Investors can gain exposure to the XOM via&nbsp;Energy&nbsp;Select&nbsp;Sector&nbsp;SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and&nbsp;IShares U.S.&nbsp;Energy&nbsp;ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>).
Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/06/39462337/exxon-mobil-air-liquide-team-up-for-clean-hydrogen-project-details" rel="noreferrer noopener">Exxon Mobil, Air Liquide Team Up For Clean Hydrogen Project: Details</a>
Price Action: XOM shares closed higher by&nbsp;0.28% at&nbsp;$114.37&nbsp;on Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Exxon Ex-Exec's New Firm To Partner On Guyana's Next Gas Project: Report

As innovation continues to transform industries, investing in specialty ETFs like iShares U.S. Energy (IYE), ARK Fintech Innovation (ARKF), and VanEck Retail (RTH) could be a smart way to diversify your portfolio while capitalizing on high-growth sectors. Read more… Specialty ETFs, or sector funds, offer a unique way for investors to zero in on specific industries or market segments that align with their growth expectations. Unlike traditional index funds that provide broad market exposure, specialty ETFs focus on niche sectors such as energy, fintech, or consumer goods, making it easier for investors to tap into the areas of the economy that are experiencing rapid growth, innovation, or transformation.   
Below, I have highlighted three specialty ETFs that are fundamentally sound and positioned to offer strong growth opportunities: iShares U.S. Energy ETF (<a href="https://stocknews.com/stock/IYE/">IYE</a>), ARK Fintech Innovation ETF (<a href="https://stocknews.com/stock/ARKF/">ARKF</a>), and VanEck Retail ETF (<a href="https://stocknews.com/stock/RTH/">RTH</a>). These funds provide diversified exposure within their respective sectors, allowing investors to focus on industries with strong growth potential.
Investor sentiment toward specialty ETFs is generally upbeat, thanks to their ability to target high-growth sectors and niche markets with specific investment themes. However, there is some caution due to the lack of diversification, as these funds are more susceptible to sector-specific risks and volatility.
Despite these risks, many investors are turning to specialty ETFs as a strategic way to position their portfolios to benefit from the growth potential of industries that are on the cusp of transformation. Whether it's the energy transition, the rise of fintech, or the evolving retail sector, these funds present attractive options for investors looking to capitalize on emerging trends.
To that end, let's delve into the fundamental aspects of the above-mentioned ETFs in detail:
iShares U.S. Energy ETF (<a href="https://stocknews.com/stock/IYE/">IYE</a>)
IYE seeks to track the investment results of a market-cap-weighted index composed of large-cap U.S. companies in the energy industry. The fund holds a concentrated portfolio of companies that facilitate the production and distribution of oil and gas. It tracks the performance of the Russell 1000 Energy RIC 22.5/45 Capped Index.
With $1.34 billion in assets under management (AUM), its <a href="https://etfdb.com/etf/IYE/#holdings">top holdings</a> include Exxon Mobil Corporation (<a href="https://stocknews.com/stock/XOM/">XOM</a>) with a 21.65% weighting, Chevron Corporation (<a href="https://stocknews.com/stock/CVX/">CVX</a>) at 14.92%, followed by ConocoPhillips (<a href="https://stocknews.com/stock/COP/">COP</a>), and EOG Resources, Inc. (<a href="https://stocknews.com/stock/EOG/">EOG</a>) with 7.25% and 4.67% weightings, respectively. The fund currently has 43 holdings in total, with its top 10 assets comprising 68.3% of its AUM.
Over the past three months, IYE's fund inflows came in at $31 million. In addition, its 0.39% expense ratio compares to the category average of 0.47%. The ETF's <a href="https://www.ishares.com/us/products/239507/ishares-us-energy-etf">NAV was $49.21</a> as of January 15, 2025.
IYE pays an annual <a href="https://www.investopedia.com/terms/d/dividend.asp">dividend</a> of $1.25, translating to a 2.54% yield at the current price level, while its four-year average dividend yield is 3.02%. Over the past three years, its dividend payouts have grown at a CAGR of 11.74%.
IYE has gained 14.2% over the past year and 8.8% year-to-date to close the last trading session at $49.59.
IYE's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect this promising outlook. It has an overall rating of A, equating to Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.
IYE also has an A grade for Buy &amp; Hold and Trade and a B for Peer. Among the 46 ETFs in the B-rated <a href="https://stocknews.com/category/energy-equities-etfs/">Energy Equities ETFs</a> group, it is ranked #5. <a href="https://stocknews.com/stock/IYE/">Click here</a> to see all the IYE ratings.
ARK Fintech Innovation ETF (<a href="https://stocknews.com/stock/ARKF/">ARKF</a>)
ARKF is an exchange-traded fund managed by ARK Investment Management LLC. This actively managed fund focuses on financial technology innovation, which ARK defines as the introduction of new, technology-driven products or services that have the potential to transform the financial sector. The fund invests in stocks of both domestic and international companies within this theme, and its performance is benchmarked against the S&amp;P 500 Index and the MSCI World Index.
The fund has approximately $1.02 billion AUM. ARKF's <a href="https://etfdb.com/etf/ARKF/#holdings">major holdings</a> include Coinbase Global, Inc. (<a href="https://stocknews.com/stock/COIN/">COIN</a>) with a 9.49% weighting, Shopify Inc. (<a href="https://stocknews.com/stock/SHOP/">SHOP</a>) at 9.29%, Robinhood Markets, Inc. (<a href="https://stocknews.com/stock/HOOD/">HOOD</a>), and MUTUAL FUND (OTHER) at 5.99% and 5.89%, respectively.
The ETF has 37 holdings, with its top 10 assets comprising 56.73% of its AUM. ARKF's expense ratio is 0.75%, higher than the category average of 0.56%.
Over the past year, ARKF has gained 52.1% to close the last trading session at $38.89. The fund's <a href="https://www.ark-funds.com/funds/arkf">NAV was $38.73</a> as of January 03, 2025.
ARKF's bright prospects are reflected in its POWR Ratings. The ETF's overall B rating equates to a Buy in our proprietary rating system.
ARKF has an A grade for Trade and a B for Buy &amp; Hold. The fund is ranked #57 out of 119 ETFs in the A-rated <a href="https://stocknews.com/category/technology-equities-etfs/">Technology Equities ETFs</a> group. Beyond what we stated above, we have also given ARKF a grade for Peer. Get all ARKF ratings <a href="https://stocknews.com/stock/ARKF/">here</a>.
VanEck Retail ETF (<a href="https://stocknews.com/stock/RTH/">RTH</a>)
Launched and managed by Van Eck Associates Corporation, RTH invests in U.S. equities within the consumer discretionary and retail sectors. It targets large-cap growth and value stocks while tracking the MVIS US Listed Retail 25 Index. The fund allocates at least 80% of its assets to companies that derive at least 50% of their revenue from retail, including specialty and multi-line retailers, wholesalers, and online platforms.
With $221.70 million in assets under management, its <a href="https://etfdb.com/etf/RTH/#holdings">top holdings</a> include Amazon.com, Inc. (<a href="https://stocknews.com/stock/AMZN/">AMZN</a>) with a 19.78% weighting, Walmart Inc. (<a href="https://stocknews.com/stock/WMT/">WMT</a>) at 8.71%, followed by Costco Wholesale Corporation (<a href="https://stocknews.com/stock/COST/">COST</a>) and The Home Depot, Inc. (<a href="https://stocknews.com/stock/HD/">HD</a>) with 8.06% and 7.73% weightings, respectively.
The fund currently has 26 holdings in total, with its top 10 assets comprising 71.2% of its AUM. RTH has a 0.35% expense ratio, lower than the 0.57% category average. Its fund inflows were $11.25 million over the past year.
The ETF distributes $1.73 in dividends annually, translating to a yield of 0.76%. Its four-year average dividend yield is 0.89%. Over the past three years, its dividend payouts have grown at a CAGR of 4.6%.
RTH has gained 20.1% over the past year and 13.8% over the past nine months to close the last trading session at $227.42. As of January 15, 2025, RTH had an <a href="https://www.vaneck.com/us/en/investments/retail-etf-rth/overview/">NAV of $227.70</a>.
RTH's strong fundamentals are reflected in its POWR Ratings. The ETF has an overall A grade, equating to a Strong Buy rating in our proprietary rating system.
RTH also has an A rating for Buy &amp; Hold, Peer, and Trade. Of the 48 ETFs in the B-rated <a href="https://stocknews.com/category/consumer-focused-etfs/">Consumer-Focused ETFs</a> group, it is ranked 8. Get all RTH ratings <a href="https://stocknews.com/stock/RTH/">here</a>.
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<hr />
IYE shares were unchanged in premarket trading Friday. Year-to-date, IYE has gained 8.82%, versus a 0.95% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Shweta Kumari</h2> <img src='https:/wp-content/uploads/2022/03/Shweta-Kumari_Image-2.jpg' style="float:left; padding:5px;width:125px;">Shweta's profound interest in financial research and quantitative analysis led her to pursue a career as an investment analyst. She uses her knowledge to help retail investors make educated investment decisions.<a href="https://stocknews.com/authors/?author=shweta-kumari">More...</a>The post <a href=https://stocknews.com/news/iye-arkf-rth-3-specialty-etfs-offering-targeted-growth-opportunities/>3 Specialty ETFs Offering Targeted Growth Opportunities</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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