ExxonMobil, jedna z największych firm petrochemicznych na świecie postanowiła pozwać Unię Europejską do sądu. Powodem jest podatek, o którym niedawno było bardzo głośno także w Polsce.
Unia Europejska i ExxonMobil spotkają się na sali sądowej. Jeden z największych koncernów petrochemicznych świata pozwał wspólnotę za tak zwany „windfall tax”, czyli podatek od zysków nadzwyczajnych
ExxonMobil pozywa Unię Europejską
Proces między petrochemicznym gigantem a Unią Europejską będzie dotyczył faktu, że ExxonMobil nie zgadza się na narzucony przez wspólnotę podatek od zysków nadzwyczajnych. Ze względu na ogromne zawirowania na rynku surowców naturalnych, które zostały wywołane w efekcie szantażu energetycznego Kremla, a następnie zbrojnej inwazji na Ukrainę, koncerny energetyczne zaczęły bardzo gwałtownie zwiększać zyski. Wynika to z faktu, że Unia Europejska, Stany Zjednoczone, Wielka Brytania i inne kraje Zachodu, wprowadziły sankcje gospodarcze na Rosję.
Jednym z najważniejszych elementów nacisku gospodarczego na Rosję było embargo na gaz ziemny i ropę naftową sprzedawaną przez Kremla. Spowodowało to wystrzelenie cen na międzynarodowych rynkach, a co za tym idzie, także zwiększenie zysków koncernów energetycznych.
Unia chce opodatkować koncerny
Spirala decyzji podjętych na szczeblu politycznym doprowadziła finalnie do momentu, gdzie także politycznie UE próbuje zyskać na tym finansowo. Podatek od nadzwyczajnych zysków (który w Polsce przez chwilę nazywano daniną Sasina), polega na opodatkowaniu nagłych, nieoczekiwanych zysków, które nastąpiły na skutek sytuacji szokowych, takich jak kryzys, wojna, czy klęska żywiołowa.
Unia Europejska nazywa to „wkładem w wyjście z kryzysu” i oczekuje wypłaty 33 proc. zysków od każdej firmy, której przychody były o co najmniej 20 proc. wyższe niż średnia z ostatnich trzech lat. ExxonMobil wylicza, że musiałby oddać Unii aż 2 miliardy dolarów.
https://www.msn.com/pl-pl/finanse/najpo ... 7144c07b51
Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
REKLAMA
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Exxon pozywa Unię Europejską
Koncern naftowy ExxonMobil pozwał Unię Europejską do unijnego Sądu Pierwszej Instancji w Luksemburgu. Chce w ten sposób zablokować wprowadzenie nowego unijnego podatku od zysków nadzwyczajnych.
Exxon argumentuje w swoim pozwie, że nowy unijny podatek oraz podobne podatki wprowadzane przez poszczególne rządy państw UE może go kosztować do końca 2023 r. 2 mld USD. Może też zniechęcić go do przeprowadzenia w Europie inwestycji wartych miliardy dolarów. Inwestycje te miałyby zwiększyć bezpieczeństwo energetyczne UE. - Zdajemy sobie sprawę z tego, że kryzys energetyczny w Europie mocno ciąży rodzinom i biznesom. Pracujemy nad tym, by zwiększyć dostawy energii do Europy. Wyzwanie przed którym stoimy jest jednak utrudnione przez kontrproduktywny podatek od zysków nadzwyczajnych. Podatek ten uderzy w zaufanie inwestorów, zniechęci ich do przeprowadzania inwestycji oraz zwiększy zależność od importu energii oraz produktów paliwowych – stwierdził rzecznik koncernu ExxonMobil.
Koncern jest obecny w 39 krajach, a w Europie posiada swoje instalacje wydobywcze i inne zakłady m.in. w Niemczech, Francji, Niderlandach, Włoszech i Grecji. W ciągu ostatnich 10 lat zainwestował ponad 3 mld USD w europejskie rafinerie. W trzecim kwartale miał rekordowy zysk netto wynoszący prawie 20 mld USD. Niedawno ogłosił, że w ciągu następnych dwóch lat zamierza przeznaczyć 50 mld USD na skup akcji własnych.
Unijny podatek od zysków nadzwyczajnych ma objąć koncerny naftowe, gazowe i węglowe. Będzie on naliczany od zysków za lata 2022-2023, jeśli będą one wyższe o więcej niż 20 proc. od średniego poziomu z lat 2019-2021. Stawka nowego podatku ma wynosić 33 proc. Uzyskane w ten sposób środki mają zostać przeznaczone m.in. na wsparcie dla gospodarstw domowych i spółek borykających się z kryzysem energetycznym.
https://www.parkiet.com/gospodarka-swia ... europejska
Koncern naftowy ExxonMobil pozwał Unię Europejską do unijnego Sądu Pierwszej Instancji w Luksemburgu. Chce w ten sposób zablokować wprowadzenie nowego unijnego podatku od zysków nadzwyczajnych.
Exxon argumentuje w swoim pozwie, że nowy unijny podatek oraz podobne podatki wprowadzane przez poszczególne rządy państw UE może go kosztować do końca 2023 r. 2 mld USD. Może też zniechęcić go do przeprowadzenia w Europie inwestycji wartych miliardy dolarów. Inwestycje te miałyby zwiększyć bezpieczeństwo energetyczne UE. - Zdajemy sobie sprawę z tego, że kryzys energetyczny w Europie mocno ciąży rodzinom i biznesom. Pracujemy nad tym, by zwiększyć dostawy energii do Europy. Wyzwanie przed którym stoimy jest jednak utrudnione przez kontrproduktywny podatek od zysków nadzwyczajnych. Podatek ten uderzy w zaufanie inwestorów, zniechęci ich do przeprowadzania inwestycji oraz zwiększy zależność od importu energii oraz produktów paliwowych – stwierdził rzecznik koncernu ExxonMobil.
Koncern jest obecny w 39 krajach, a w Europie posiada swoje instalacje wydobywcze i inne zakłady m.in. w Niemczech, Francji, Niderlandach, Włoszech i Grecji. W ciągu ostatnich 10 lat zainwestował ponad 3 mld USD w europejskie rafinerie. W trzecim kwartale miał rekordowy zysk netto wynoszący prawie 20 mld USD. Niedawno ogłosił, że w ciągu następnych dwóch lat zamierza przeznaczyć 50 mld USD na skup akcji własnych.
Unijny podatek od zysków nadzwyczajnych ma objąć koncerny naftowe, gazowe i węglowe. Będzie on naliczany od zysków za lata 2022-2023, jeśli będą one wyższe o więcej niż 20 proc. od średniego poziomu z lat 2019-2021. Stawka nowego podatku ma wynosić 33 proc. Uzyskane w ten sposób środki mają zostać przeznaczone m.in. na wsparcie dla gospodarstw domowych i spółek borykających się z kryzysem energetycznym.
https://www.parkiet.com/gospodarka-swia ... europejska
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
HOUSTON (Reuters) - Exxon Mobil Corp (NYSE:XOM) posted a $56 billion net profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry.
Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion. The scale has renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies.
Exxon's results far exceeded the then-record $45.2 billion net profit it reported in 2008, when oil hit $142 per barrel, 30% above last year's average price. Deep cost cuts during the pandemic helped supercharge last year's earnings.
"Overall earnings and cash flow were up pretty significantly year on year," Exxon Chief Financial Officer Kathryn Mikells told Reuters. "So that came really from a combination of strong markets, strong throughput, strong production, and really good cost control."
Exxon said it incurred a $1.3 billion hit to its fourth-quarter earnings from a European Union windfall tax that began in the final quarter and from asset impairments. The company is suing the EU, arguing that the levy exceeds its legal authority.
Excluding charges, profit for the full year was $59.1 billion. Production was up by about 100,000 barrels of oil and gas per day over a year ago to 3.8 million bpd. Adjusted per-share profit of $3.40 beat consensus of $3.29 per share, according to Refinitiv data.
Shares were up nearly 2% at $115.63.
"It’s a headline beat," Biraj Borkhataria from RBC Capital said in a note, despite lower chemical margins, lower-than- expected downstream gains and plans for higher maintenance works in refineries this quarter.
(Exxon posts record annual profit in 2022 Exxon posts record annual profit in 2022 https://www.reuters.com/graphics/EXXON- ... /chart.png)
WINDFALL TAXES
The results set up another confrontation with the White House. Companies could increase production but decided instead to "plow those profits into padding the pockets of executives and shareholders," the White House said in a statement.
Exxon distributed $30 billion in cash to shareholders last year, more than any of its Western rivals, and invested $22.7 billion in the business.
Windfall profit taxes are "unlawful and bad policy," countered Mikells. Slapping new taxes on oil earnings "has the opposite effect of what you are trying to achieve," she said, adding that it would discourage new oil and gas production.
Exxon boasted that its cash flow from operations soared to $76.8 billion last year, up from $48.1 billion in 2021. And it decided to hold $30 billion in cash balance. The company said it learned from the pandemic, when it found itself empty handed and raised debt to pay dividends to shareholders.
"Having a really strong balance sheet is a competitive advantage for us," Mikells said, adding that it allows the company to wait for potential acquisition opportunities and sustain its dividend program intact even if energy prices eventually fall.
Exxon posted $12.8 billion in fourth-quarter net profit excluding charges, 44% more than the same period last year but down 35% from the previous quarter as oil prices eased and some operations suffered from cold-weather-related outages.
PROJECT SPENDING
Exxon's spending on new oil and gas projects bounced back last year to $22.7 billion, up 37% from the prior year. The company increased outlays on discoveries in Guyana, in the top U.S. shale field, and on fuel refining and chemicals.
"The counter-cyclical investments we made before and during the pandemic provided the energy and products people needed as economies began recovering," Exxon Chief Executive Officer Darren Woods said in a statement.
Investments can go up to $25 billion this year, Woods said. Part of it is explained by rising costs in the Permian, with inflation in the double digits, amid "really, really hot" demand for equipments and services, he said.
Exxon guided Permian production this year to 600,000 bpd, up 50,000 bpd from last year but slightly below market expectations. On the other hand, Woods projected that strong refining margins will continue in 2023.
Exxon's results come ahead of what are expected to be strong earnings from Shell (LON:RDSa) plc on Thursday and from BP plc (LON:BP) and TotalEnergies next week.
Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion. The scale has renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies.
Exxon's results far exceeded the then-record $45.2 billion net profit it reported in 2008, when oil hit $142 per barrel, 30% above last year's average price. Deep cost cuts during the pandemic helped supercharge last year's earnings.
"Overall earnings and cash flow were up pretty significantly year on year," Exxon Chief Financial Officer Kathryn Mikells told Reuters. "So that came really from a combination of strong markets, strong throughput, strong production, and really good cost control."
Exxon said it incurred a $1.3 billion hit to its fourth-quarter earnings from a European Union windfall tax that began in the final quarter and from asset impairments. The company is suing the EU, arguing that the levy exceeds its legal authority.
Excluding charges, profit for the full year was $59.1 billion. Production was up by about 100,000 barrels of oil and gas per day over a year ago to 3.8 million bpd. Adjusted per-share profit of $3.40 beat consensus of $3.29 per share, according to Refinitiv data.
Shares were up nearly 2% at $115.63.
"It’s a headline beat," Biraj Borkhataria from RBC Capital said in a note, despite lower chemical margins, lower-than- expected downstream gains and plans for higher maintenance works in refineries this quarter.
(Exxon posts record annual profit in 2022 Exxon posts record annual profit in 2022 https://www.reuters.com/graphics/EXXON- ... /chart.png)
WINDFALL TAXES
The results set up another confrontation with the White House. Companies could increase production but decided instead to "plow those profits into padding the pockets of executives and shareholders," the White House said in a statement.
Exxon distributed $30 billion in cash to shareholders last year, more than any of its Western rivals, and invested $22.7 billion in the business.
Windfall profit taxes are "unlawful and bad policy," countered Mikells. Slapping new taxes on oil earnings "has the opposite effect of what you are trying to achieve," she said, adding that it would discourage new oil and gas production.
Exxon boasted that its cash flow from operations soared to $76.8 billion last year, up from $48.1 billion in 2021. And it decided to hold $30 billion in cash balance. The company said it learned from the pandemic, when it found itself empty handed and raised debt to pay dividends to shareholders.
"Having a really strong balance sheet is a competitive advantage for us," Mikells said, adding that it allows the company to wait for potential acquisition opportunities and sustain its dividend program intact even if energy prices eventually fall.
Exxon posted $12.8 billion in fourth-quarter net profit excluding charges, 44% more than the same period last year but down 35% from the previous quarter as oil prices eased and some operations suffered from cold-weather-related outages.
PROJECT SPENDING
Exxon's spending on new oil and gas projects bounced back last year to $22.7 billion, up 37% from the prior year. The company increased outlays on discoveries in Guyana, in the top U.S. shale field, and on fuel refining and chemicals.
"The counter-cyclical investments we made before and during the pandemic provided the energy and products people needed as economies began recovering," Exxon Chief Executive Officer Darren Woods said in a statement.
Investments can go up to $25 billion this year, Woods said. Part of it is explained by rising costs in the Permian, with inflation in the double digits, amid "really, really hot" demand for equipments and services, he said.
Exxon guided Permian production this year to 600,000 bpd, up 50,000 bpd from last year but slightly below market expectations. On the other hand, Woods projected that strong refining margins will continue in 2023.
Exxon's results come ahead of what are expected to be strong earnings from Shell (LON:RDSa) plc on Thursday and from BP plc (LON:BP) and TotalEnergies next week.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Exxon considers selling stake in LNG terminal offshore Italy
HOUSTON (Reuters) - Exxon Mobil Corp (NYSE:XOM). is considering selling its majority stake in the Rovigo LNG terminal offshore Italy as part of a strategy to divest from non-core assets, the company said in a statement on Wednesday.
The terminal, also named, Adriatic LNG, is owned by Exxon's subsidiary ExxonMobil Italiana Gas S.r.l. (70.7%), QatarEnergy subsidiary Qatar Terminal Company Limited (22%) and Snam Spa (7.3%). Snam has the right of first refusal should a partner decide to divest.
Exxon said that while it was verifying market interest, it had not made a decision about a potential sale nor has it identified a buyer at this early stage.
"Tests like this are consistent with our focused investment strategy, highlighting our willingness to divest non-core assets to those who can derive greater value," Exxon spokesperson Meghan Macdonald said.
Any transaction would not impact Exxon's imports of LNG into the Adriatic LNG terminal, nor its interest in the Italian and European markets as a natural gas supplier, the company said.
https://www.investing.com/news/stock-ma ... ly-3031546
HOUSTON (Reuters) - Exxon Mobil Corp (NYSE:XOM). is considering selling its majority stake in the Rovigo LNG terminal offshore Italy as part of a strategy to divest from non-core assets, the company said in a statement on Wednesday.
The terminal, also named, Adriatic LNG, is owned by Exxon's subsidiary ExxonMobil Italiana Gas S.r.l. (70.7%), QatarEnergy subsidiary Qatar Terminal Company Limited (22%) and Snam Spa (7.3%). Snam has the right of first refusal should a partner decide to divest.
Exxon said that while it was verifying market interest, it had not made a decision about a potential sale nor has it identified a buyer at this early stage.
"Tests like this are consistent with our focused investment strategy, highlighting our willingness to divest non-core assets to those who can derive greater value," Exxon spokesperson Meghan Macdonald said.
Any transaction would not impact Exxon's imports of LNG into the Adriatic LNG terminal, nor its interest in the Italian and European markets as a natural gas supplier, the company said.
https://www.investing.com/news/stock-ma ... ly-3031546
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
We Francji koncern Exxon Mobil Corp. zapowiedział, że zacznie wstrzymywać prace rafinerii Gravenchon - która wytwarza 20 proc. produktów naftowych Francji, z powodu braku dostaw ropy naftowej spowodowanego trwającymi w kraju protestami.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Exxon CEO's pay rose 52% in 2022, highest among oil peers
HOUSTON (Reuters) -U.S. oil bosses generally collected huge paychecks last year on the back of high energy prices and record profits, with Exxon Mobil Corp's (N:XOM) chief executive winning a 52% increase.
The largest U.S. oil company on Thursday disclosed Chief Executive Darren Woods was paid $35.9 million last year.
Oil company workers did not see the same level of increases with median annual compensation for workers declining at several big energy companies. The median pay for an Exxon worker fell 9% last year to $171,582 while Chevron (NYSE:CVX)'s median worker pay dropped 12%, to $161,488, filings showed.
The two largest U.S. oil majors posted record profits in 2022 on high energy prices and costs cuts measures including payroll reductions. Exxon posted the most among Western oil majors, $56 billion. Chevron's profit more than doubled in 2022 to a record $36.5 billion.
Exxon's chief received the highest percentage increase among peers with Chevron CEO Michael Wirth receiving a 4% increase. Occidental Petroleum (NYSE:OXY)'s CEO Vicki Hollub's pay rose 35% while ConocoPhillips (NYSE:COP) CEO Ryan Lance's pay fell 16%, all compared to their prior year.
The median annual pay for Occidental workers rose 19% last year to $187,168 while at Conoco it fell 1% to $177,533 according to their proxy filings.
Under a new calculation disclosure required by the SEC on potential gains by executives on unvested stock awards, Woods' pay was $89.7 million in 2022, a securities filing showed.
The figure provides more transparency on compensation given by companies in equity, according to shareholders advocacy group As We Sow. But it is not the best reflection of a compensation as the total value cashed out by executives could only be known when options are exercised or stock are sold, the group says.
Under the same metric, Woods lost more than $7 million in 2020.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
ExxonMobil (NYSE:XOM) stock fell pre 0.9% after crude prices adjusted sharply lower Wednesday. However, UBS has upgraded the oil major to ‘buy’ from ‘neutral’ ahead of its first-quarter earnings report next week, calling it the “leader of the pack”.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Latest Release
Apr 28, 2023
EPS / Forecast
2.83 / 2.6
Revenue / Forecast
86.56B / 82.66B
Apr 28, 2023
EPS / Forecast
2.83 / 2.6
Revenue / Forecast
86.56B / 82.66B
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Energy stocks, however, were a drag on the broader market, paced by a decline in Exxon Mobil Corp (NYSE:XOM) after Goldman Sachs downgraded the oil major to Neutral from Buy, pointing a “less compelling valuation…following multi-year outperformance.”
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Stifel downgraded XPO (NYSE:XPO) to Hold from Buy while raising its price target to $51.00 from $48.00.
The company reported its Q1 results on Thursday, with both EPS and revenues coming in better than the consensus estimates.
stifela stifels
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
(Reuters) - Exxon Mobil (NYSE:XOM) has agreed to develop more than 6,100 lithium-rich acres in Arkansas with Tetra Technologies (NYSE:TTI) Inc, the second move this year by the oil giant for control of assets needed to produce the electric vehicle battery metal.
Exxon's rapid expansion into the lithium sector comes amid growing interest by traditional energy companies and others into emerging technologies that aim to boost global supply of the ultralight metal.
Tetra, which produces chemicals for water treatment and recycling, earlier this week said it had signed an agreement with a company known as Saltwerx to develop 6,138 acres of salty brine deposits in Arkansas that are filled with lithium and bromine, although it provided few additional details.
Saltwerx is a subsidiary of Exxon, according to two people familiar with the matter. Exxon acquired it earlier this year when it bought a neighboring Arkansas parcel of 100,000 acres from Galvanic Energy. Galvanic remains an independent, privately held company and is not affiliated with Tetra or Exxon.
Representatives for Tetra were not immediately available to comment. Exxon declined to comment.
Financial terms were not disclosed. Neither company provided a production or development timeline, although Exxon will be contributing about 2,000 acres and Tetra about 4,100 acres to the partnership. Certain details still need to be finalized.
By partnering with Exxon, Tetra gains a large partner with capital to help it produce bromine, which is used in flame retardants, from the acreage. Tetra currently buys bromine from Lanxess to produce a material used by Eos Energy Enterprises to manufacture batteries.
Exxon, meanwhile, gains access to yet another U.S. supply of lithium as the country rapidly expands its EV supply chain. Both companies plan to file an amended application to develop the brine deposits later this year with Arkansas officials.
Exxon would need to chose at least one direct lithium extraction (DLE) technology to filter the metal from the Arkansas brine, although such technologies are largely unproven at commercial scale. Reuters reported earlier this month that Exxon has held talks with International Battery Metals and EnergySource Minerals about licensing DLE technology.
Tetra said in November it has been investigating various DLE technologies, but had not signed any agreements.
Tetra had previously agreed to lease more than 27,000 acres in Arkansas to Standard Lithium to produce lithium. Standard has started preliminary work on development of that project.
Exxon's rapid expansion into the lithium sector comes amid growing interest by traditional energy companies and others into emerging technologies that aim to boost global supply of the ultralight metal.
Tetra, which produces chemicals for water treatment and recycling, earlier this week said it had signed an agreement with a company known as Saltwerx to develop 6,138 acres of salty brine deposits in Arkansas that are filled with lithium and bromine, although it provided few additional details.
Saltwerx is a subsidiary of Exxon, according to two people familiar with the matter. Exxon acquired it earlier this year when it bought a neighboring Arkansas parcel of 100,000 acres from Galvanic Energy. Galvanic remains an independent, privately held company and is not affiliated with Tetra or Exxon.
Representatives for Tetra were not immediately available to comment. Exxon declined to comment.
Financial terms were not disclosed. Neither company provided a production or development timeline, although Exxon will be contributing about 2,000 acres and Tetra about 4,100 acres to the partnership. Certain details still need to be finalized.
By partnering with Exxon, Tetra gains a large partner with capital to help it produce bromine, which is used in flame retardants, from the acreage. Tetra currently buys bromine from Lanxess to produce a material used by Eos Energy Enterprises to manufacture batteries.
Exxon, meanwhile, gains access to yet another U.S. supply of lithium as the country rapidly expands its EV supply chain. Both companies plan to file an amended application to develop the brine deposits later this year with Arkansas officials.
Exxon would need to chose at least one direct lithium extraction (DLE) technology to filter the metal from the Arkansas brine, although such technologies are largely unproven at commercial scale. Reuters reported earlier this month that Exxon has held talks with International Battery Metals and EnergySource Minerals about licensing DLE technology.
Tetra said in November it has been investigating various DLE technologies, but had not signed any agreements.
Tetra had previously agreed to lease more than 27,000 acres in Arkansas to Standard Lithium to produce lithium. Standard has started preliminary work on development of that project.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Exxon Mobil (NYSE:XOM) shares are moving lower in premarket Thursday after the oil and gas giant said it expects its Q2 earnings to be lower by roughly $4 billion due to lower natural gas prices and refining margins.
The provided update points towards Q2 EPS at around $1.94, a large miss compared to the consensus of $2.24.
“This screens 3% above our prior estimate of $1.88 but below consensus of $2.27 noting our prior estimate was the low on the ‘Street’, leading us to assume Street consensus is stale,” BofA analysts said in a client note.
Still, they remain bullish on XOM stock as the inflection in free cash capacity is “intact.”
“With multiple additional projects at or near start up, we see XOM as the only sustainable growth stock of the major oils to support expanding free cash returns that we believe will support outsize dividend growth as the most tangible driver of market recognition of value. Our rating is Buy,” the analysts added.
Goldman Sachs analysts added:
“Outside of the quarter and more broadly for XOM, we remain constructive on the company’s advantaged portfolio depth and strong execution (Upstream volume outlook, increased trading capabilities, and further anticipated cost reductions), but ultimately remain Neutral following our prior downgrade in May after multi-year outperformance.”
Exxon shares are down 3.2% year-to-date.
EDIT: Exxon Mobil Corp (NYSE:XOM) shares fell 3.7% after the oil major signaled a sharp fall in second-quarter operating profits on lower natural gas prices and weaker oil refining margins.
Second-quarter corporate reports will arrive in coming weeks with S&P 500 earnings expected to fall 5.7% from a year-ago, according to Refinitiv data.
The provided update points towards Q2 EPS at around $1.94, a large miss compared to the consensus of $2.24.
“This screens 3% above our prior estimate of $1.88 but below consensus of $2.27 noting our prior estimate was the low on the ‘Street’, leading us to assume Street consensus is stale,” BofA analysts said in a client note.
Still, they remain bullish on XOM stock as the inflection in free cash capacity is “intact.”
“With multiple additional projects at or near start up, we see XOM as the only sustainable growth stock of the major oils to support expanding free cash returns that we believe will support outsize dividend growth as the most tangible driver of market recognition of value. Our rating is Buy,” the analysts added.
Goldman Sachs analysts added:
“Outside of the quarter and more broadly for XOM, we remain constructive on the company’s advantaged portfolio depth and strong execution (Upstream volume outlook, increased trading capabilities, and further anticipated cost reductions), but ultimately remain Neutral following our prior downgrade in May after multi-year outperformance.”
Exxon shares are down 3.2% year-to-date.
EDIT: Exxon Mobil Corp (NYSE:XOM) shares fell 3.7% after the oil major signaled a sharp fall in second-quarter operating profits on lower natural gas prices and weaker oil refining margins.
Second-quarter corporate reports will arrive in coming weeks with S&P 500 earnings expected to fall 5.7% from a year-ago, according to Refinitiv data.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
ExxonMobil publikuje wyniki finansowe za drugi kwartał w związku z niższymi cenami gazu ziemnego
Investing.com -- ExxonMobil (NYSE:XOM) odnotował niższy niż oczekiwano zysk w drugim kwartale, ponieważ największy amerykański koncern naftowy został dotknięty spadkiem gazu ziemnego.
Zarobek w ciągu trzech miesięcy zakończonych 30 czerwca spadł do 7,9 mld USD, czyli 1,94 USD na akcję rozwodnioną, rozmijając się z szacunkami konsensusu Bloomberga, które przewidywały wzrost na poziomie 2,00 USD. Exxon wcześniej odnotował rekordowy zysk w wysokości 11,34 mld USD w pierwszym kwartale.
Niższe ceny gazu ziemnego wpłynęły na kluczową działalność wydobywczą Exxona z siedzibą w Teksasie, która odnotowała dochód w wysokości 4,6 mld USD – spadek o 1,9 mld USD w porównaniu z poprzednim kwartałem. Sezonowo wyższa planowa konserwacja również osłabiła powroty w jednostce, powiedział Exxon.
Wyniki Exxona pochodzą od europejskich odpowiedników Shell (LON:SHEL) i TotalEnergies (EPA:TTEF) odnotowała również spadek zysków w związku ze spadkiem gwałtownego wzrostu na rynkach energii po wybuchu wojny na Ukrainie, która napędzała rekordowe zwroty dla głównych firm naftowych i gazowych. Podwyższone stopy procentowe w Stanach Zjednoczonych, największym na świecie konsumencie ropy, oraz gwałtowne ożywienie po pandemii w Chinach, największym importerze ropy, odbiły się na cenach ropy w 2023 r.
Ropa Brent Według Reutersa stracił około 13% od 30 czerwca, chociaż globalny benchmark może otrzymać wsparcie w nadchodzących miesiącach od planowanych cięć produkcji przez Arabię Saudyjską i Rosję.
W oświadczeniu dyrektor generalny Exxon, Darren Woods, bronił wyników, mówiąc, że "podwoiły się w stosunku do tego, co zarobiliśmy w porównywalnym środowisku cen surowców zaledwie pięć lat temu". Woods zauważył również, że firma jest "na dobrej drodze" do obniżenia kosztów o 9 mld USD do końca roku w porównaniu z poziomami z 2019 r.
Akcje Exxona spadły w piątek w handlu przedrynkowym w USA.
Investing.com -- ExxonMobil (NYSE:XOM) odnotował niższy niż oczekiwano zysk w drugim kwartale, ponieważ największy amerykański koncern naftowy został dotknięty spadkiem gazu ziemnego.
Zarobek w ciągu trzech miesięcy zakończonych 30 czerwca spadł do 7,9 mld USD, czyli 1,94 USD na akcję rozwodnioną, rozmijając się z szacunkami konsensusu Bloomberga, które przewidywały wzrost na poziomie 2,00 USD. Exxon wcześniej odnotował rekordowy zysk w wysokości 11,34 mld USD w pierwszym kwartale.
Niższe ceny gazu ziemnego wpłynęły na kluczową działalność wydobywczą Exxona z siedzibą w Teksasie, która odnotowała dochód w wysokości 4,6 mld USD – spadek o 1,9 mld USD w porównaniu z poprzednim kwartałem. Sezonowo wyższa planowa konserwacja również osłabiła powroty w jednostce, powiedział Exxon.
Wyniki Exxona pochodzą od europejskich odpowiedników Shell (LON:SHEL) i TotalEnergies (EPA:TTEF) odnotowała również spadek zysków w związku ze spadkiem gwałtownego wzrostu na rynkach energii po wybuchu wojny na Ukrainie, która napędzała rekordowe zwroty dla głównych firm naftowych i gazowych. Podwyższone stopy procentowe w Stanach Zjednoczonych, największym na świecie konsumencie ropy, oraz gwałtowne ożywienie po pandemii w Chinach, największym importerze ropy, odbiły się na cenach ropy w 2023 r.
Ropa Brent Według Reutersa stracił około 13% od 30 czerwca, chociaż globalny benchmark może otrzymać wsparcie w nadchodzących miesiącach od planowanych cięć produkcji przez Arabię Saudyjską i Rosję.
W oświadczeniu dyrektor generalny Exxon, Darren Woods, bronił wyników, mówiąc, że "podwoiły się w stosunku do tego, co zarobiliśmy w porównywalnym środowisku cen surowców zaledwie pięć lat temu". Woods zauważył również, że firma jest "na dobrej drodze" do obniżenia kosztów o 9 mld USD do końca roku w porównaniu z poziomami z 2019 r.
Akcje Exxona spadły w piątek w handlu przedrynkowym w USA.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
Exxon posts 56% profit slump, joins peers in energy price hit
HOUSTON (Reuters) -Exxon Mobil Corp on Friday reported a 56% slump in second-quarter profit, joining rivals hurt by a sharp drop in energy prices but delivering results in line with an earnings preview the oil major released earlier this month.
Second-quarter results from oil majors have tumbled from huge profits booked a year ago after Russia's invasion of Ukraine sent oil and gas prices soaring. Chevron Corp (NYSE:CVX), Shell (LON:RDSa) and TotalEnergies have reported profit falls of 48%, 56% and 49%, respectively.
Net income was $7.88 billion, or 1.94 cents per share versus a record $17.85 billion a year earlier.
Yet excluding last year's record second quarter, Exxon (NYSE:XOM) posted its strongest result for the months of April to June in more than a decade, helped by cost cuts and the sale of less profitable assets.
"That is quite a good quarter for us," Chief Financial Officer Kathryn Mikells told Reuters. "You would have to go back to the second quarter of 2011 to find the last time we produced this level of earnings in the second quarter."
Exxon shares were down 0.78% in pre-market trade.
Benchmark Brent crude prices averaged $80 a barrel, down from $110 a year earlier. Prices for liquefied natural gas (LNG) fell to $11.75 per million British thermal units (mmBtu) from around $33.
"Lower natural gas realizations and industry refining margins adversely impacted earnings," Exxon said in its earnings statement.
"Industry margins declined sequentially from a strong first quarter on weaker diesel margins as Russian supply concerns eased," the company said, pointing to earnings in Energy Products of $2.3 billion, down $1.9 billion from the first quarter.
Helping offset that was a jump in earnings in Chemical Products to $828 million from $371 million in the first quarter helped by lower feed costs, it said.
Exxon's oil production stands at 3.7 million barrels of oil equivalent per day (boed) year to date, in line with the company's annual target, Mikells said.
Results were helped by better output in the U.S. Permian basin, which delivered 622,000 boed in the quarter, and in Guyana, where Exxon plans to increase production by 5% to 400,000 boed by year end.
Capital and exploration spending was $6.2 billion in the second quarter and $12.5 billion for the first half of 2023, in line with the company's full-year guidance of $23 billion to $25 billion, the company said.
The company has achieved cumulative structural cost savings of $8.3 billion from 2019 levels, nearing its $9 billion target.
Exxon earlier this month said it would buy gas pipeline company Denbury Inc for $4.9 billion to accelerate its energy transition business with carbon capture and storage (CCS) operations.
The oil giant distributed about $8 billion in cash to shareholders in the second quarter including about $3.7 billion in dividends.
"We are very comfortable overall with our capital allocation approach," Mikells said. "So we're committed to continuing that balanced approach."
HOUSTON (Reuters) -Exxon Mobil Corp on Friday reported a 56% slump in second-quarter profit, joining rivals hurt by a sharp drop in energy prices but delivering results in line with an earnings preview the oil major released earlier this month.
Second-quarter results from oil majors have tumbled from huge profits booked a year ago after Russia's invasion of Ukraine sent oil and gas prices soaring. Chevron Corp (NYSE:CVX), Shell (LON:RDSa) and TotalEnergies have reported profit falls of 48%, 56% and 49%, respectively.
Net income was $7.88 billion, or 1.94 cents per share versus a record $17.85 billion a year earlier.
Yet excluding last year's record second quarter, Exxon (NYSE:XOM) posted its strongest result for the months of April to June in more than a decade, helped by cost cuts and the sale of less profitable assets.
"That is quite a good quarter for us," Chief Financial Officer Kathryn Mikells told Reuters. "You would have to go back to the second quarter of 2011 to find the last time we produced this level of earnings in the second quarter."
Exxon shares were down 0.78% in pre-market trade.
Benchmark Brent crude prices averaged $80 a barrel, down from $110 a year earlier. Prices for liquefied natural gas (LNG) fell to $11.75 per million British thermal units (mmBtu) from around $33.
"Lower natural gas realizations and industry refining margins adversely impacted earnings," Exxon said in its earnings statement.
"Industry margins declined sequentially from a strong first quarter on weaker diesel margins as Russian supply concerns eased," the company said, pointing to earnings in Energy Products of $2.3 billion, down $1.9 billion from the first quarter.
Helping offset that was a jump in earnings in Chemical Products to $828 million from $371 million in the first quarter helped by lower feed costs, it said.
Exxon's oil production stands at 3.7 million barrels of oil equivalent per day (boed) year to date, in line with the company's annual target, Mikells said.
Results were helped by better output in the U.S. Permian basin, which delivered 622,000 boed in the quarter, and in Guyana, where Exxon plans to increase production by 5% to 400,000 boed by year end.
Capital and exploration spending was $6.2 billion in the second quarter and $12.5 billion for the first half of 2023, in line with the company's full-year guidance of $23 billion to $25 billion, the company said.
The company has achieved cumulative structural cost savings of $8.3 billion from 2019 levels, nearing its $9 billion target.
Exxon earlier this month said it would buy gas pipeline company Denbury Inc for $4.9 billion to accelerate its energy transition business with carbon capture and storage (CCS) operations.
The oil giant distributed about $8 billion in cash to shareholders in the second quarter including about $3.7 billion in dividends.
"We are very comfortable overall with our capital allocation approach," Mikells said. "So we're committed to continuing that balanced approach."
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
Re: Exxon Mobil Corp. NYSE: XOM przemysł naftowy
US oil behemoth, ExxonMobil (NYSE:XOM), has disclosed its investments in Qatar's liquified natural gas (LNG) expansion projects, totaling nearly $30 billion. The company's senior vice president, Peter Clarke, announced the investments on Wednesday, revealing that the funds have been deployed through long-term partnership agreements with the Gulf nation.
ExxonMobil's investments in Qatar date back to the 1990s and have contributed to the development of 12 of the country's 14 LNG trains. In addition to this, the firm has also invested in 27 LNG vessels for the purpose of transporting Qatari gas.
In a recent move, ExxonMobil procured a substantial stake in Qatar's North Field East (NFE) LNG expansion project last year. The company confirmed it had signed an agreement to further develop the NFE project, which is set to increase Qatar's annual LNG capacity from 77 million tonnes to 110 million tonnes by 2026.
The agreement entails a new joint venture between QatarEnergy and ExxonMobil, where the Qatari entity holds a 75% interest while ExxonMobil retains the remaining 25%. This joint venture owns a quarter of the entire NFE project, which includes four LNG trains with a combined nameplate capacity of 32 million tonnes per annum.
Qatar has been aggressively scaling up its LNG production capacity while also investing heavily in strategic offshore projects to sustain and increase oil production. The rising demand for natural gas in key Asian markets and Europe has triggered multiple expansion projects in Qatar, one of the world's largest exporters of LNG.
The NFE project aims to expand Qatar's LNG production to 110 million tpa by 2026. A second phase, North Field South, is set to further boost its capacity to 126 million tpa by 2027. Beyond the North Field project, ExxonMobil is the only international company to hold stakes in two domestic Qatari gas projects, Al Khaleej Gas and Barzan Gas.
ExxonMobil also plans to significantly expand its global LNG business and aims to almost double its LNG handling portfolio to 40 million tonnes per annum by 2030. ExxonMobil plans to tap rising demand from Asia and Europe, where LNG is increasingly becoming more crucial for energy security in the wake of the Ukraine crisis.
ExxonMobil's investments in Qatar date back to the 1990s and have contributed to the development of 12 of the country's 14 LNG trains. In addition to this, the firm has also invested in 27 LNG vessels for the purpose of transporting Qatari gas.
In a recent move, ExxonMobil procured a substantial stake in Qatar's North Field East (NFE) LNG expansion project last year. The company confirmed it had signed an agreement to further develop the NFE project, which is set to increase Qatar's annual LNG capacity from 77 million tonnes to 110 million tonnes by 2026.
The agreement entails a new joint venture between QatarEnergy and ExxonMobil, where the Qatari entity holds a 75% interest while ExxonMobil retains the remaining 25%. This joint venture owns a quarter of the entire NFE project, which includes four LNG trains with a combined nameplate capacity of 32 million tonnes per annum.
Qatar has been aggressively scaling up its LNG production capacity while also investing heavily in strategic offshore projects to sustain and increase oil production. The rising demand for natural gas in key Asian markets and Europe has triggered multiple expansion projects in Qatar, one of the world's largest exporters of LNG.
The NFE project aims to expand Qatar's LNG production to 110 million tpa by 2026. A second phase, North Field South, is set to further boost its capacity to 126 million tpa by 2027. Beyond the North Field project, ExxonMobil is the only international company to hold stakes in two domestic Qatari gas projects, Al Khaleej Gas and Barzan Gas.
ExxonMobil also plans to significantly expand its global LNG business and aims to almost double its LNG handling portfolio to 40 million tonnes per annum by 2030. ExxonMobil plans to tap rising demand from Asia and Europe, where LNG is increasingly becoming more crucial for energy security in the wake of the Ukraine crisis.
Pieniądz robi pieniądz a bieda robi jeszcze wiekszą biedę !!!
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