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ExxonMobil

Crude oil prices are down, but oil companies' profits are doing just fine

by Lily Jamali
Apr 28, 2023
They're making less on crude, more on refining it.
Exxon’s refinery business helped lead the company to its most profitable first quarter ever. But that’s the exception since the pandemic started three years ago.
Joe Raedle/Getty Images
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Can oil companies use their extra money to ease pain at the pump? It's complicated.

by Andy Uhler
Apr 12, 2022
It'll take more than political policy to lower prices.
Prices for gas at an Exxon gas station on Capitol Hill are seen in Washington, DC. The cost of gasoline continues to rise across the globe and in the United States due to the Russian invasion of Ukraine and continued inflation associated with the global pandemic.
Photo by Win McNamee/Getty Images
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International companies exiting Russia face logistical challenges

by Amy Scott
Mar 2, 2022
ExxonMobil has a 30% stake in the Russian oil and gas project Sakhalin-1. Divesting may be time-consuming and expensive.
For ExxonMobil, divesting from Russia might be difficult.
Brandon Bell/Getty Images
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A Warmer World

Oil jobs abound in West Texas, but obstacles hamper hiring

by Andy Uhler
Jan 12, 2022
Is it the Great Resignation? A clean-energy future? Higher wages? Or all of the above?
Unemployment in Midland, Texas, has dropped since the summer, but the city's labor market remains tight.
Montinique Monroe/Getty Images
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COVID-19

Oil profits drop as companies feel pandemic, carbon pressure

by Sabri Ben-Achour
Feb 4, 2021
More than 500 oil- and gas-related firms have declared bankruptcy. The survivors are focusing on efficiency, and some plan a transition.
Leon Neal/AFP via Getty Images
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OPEC delays and spending cuts: Uncertainty abounds in the oil and gas industry

by Andy Uhler
Dec 1, 2020
OPEC and its allies are having trouble coming to an agreement, because individual countries see thing differently.
The Brega oil port in Libya in September.
AFP via Getty Images
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Exxon Mobil goes on trial for allegedly defrauding investors about climate change risk

by Scott Tong
Oct 22, 2019
The gas and oil giant used two sets of books, the New York attorney general's office alleges.
The oil and gas giant is on trial for committing fraud over climate change risk. Above, an Exxon gas station in Burbank, California.
David McNew/Getty Images
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Exxon Mobil slides out of S&P 500 top 10

by Scott Tong
Sep 3, 2019
Four decades ago, energy companies made up 25% of the S&P 500 index. Now it’s 4%.
David McNew/Getty Images
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A turnaround for oil companies?

by Scott Tong
Feb 1, 2019
Some investors are optimistic that Big Oil has been able to ride out the plummeting prices of late last year.
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U.S. oil companies take cautious approach despite higher prices and demand

by Renata Sago
Apr 27, 2018
With the U.S.-based oil giants Chevron Corp. and Exxon Mobil Corp. scheduled to release their first quarter 2018 earnings Friday morning, we look at the state of the oil industry. Companies are reaping the benefits from higher oil prices and demand. But what is big oil investing in these days, with an eye toward the future? Click […]
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