Exxon Mobil

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Exxon 'Getting Into the Power Business'

Company plans to create a power plant to supply data centers

(Newser) - Exxon Mobil currently runs gas power plants in Texas, Louisiana, and Illinois to power its own operations. The plant it's planning next will be its first to supply electricity to others: specifically, data centers, and soon. The New York Times reports America's biggest oil and gas company is...

'It's Hard to Imagine a Clearer Example of Greenwashing'

Companies including Dow, ExxonMobil, Shell, found to clean up 0.1% of the plastic they produce

(Newser) - In 2019, leading oil and chemical companies joined together to form the Alliance to End Plastic Waste (AEPW), vowing to divert more than 15 million tons of plastic from the environment by the end of 2023. Weeks into 2023, the alliance gave up the goal as "too ambitious."...

California Sues ExxonMobil Over Recycling 'Myth'

State blames the industry giant for creating a world filled with unrecyclable plastic

(Newser) - California has just filed a blockbuster lawsuit against ExxonMobil, alleging that the industry giant has been lying for years about how easy it is to recycle plastic, reports the Guardian .
  • "For decades, ExxonMobil has been deceiving the public to convince us that plastic recycling could solve the plastic waste
...

ExxonMobil Sues Own Investors in Warning to Climate Activists

Lawsuit to test SEC rules as investor groups abandon climate proposal

(Newser) - ExxonMobil investors have abandoned calls for the company to act more aggressively to curb emissions from its operations after ExxonMobil sued them in response. In what the Financial Times reports is "likely to have a chilling effect on similar forms of shareholder activism," ExxonMobil took "the unusual...

ExxonMobil Drops After Announcing Huge Merger
ExxonMobil Drops After
Announcing Huge Merger
MARKETS
Oct 11, 2023 3:42 PM CDT

ExxonMobil Drops After Announcing Huge Merger

Pioneer Natural Resources deal is company's biggest buyout since Mobil

(Newser) - Stocks edged higher in wobbly trading Wednesday as yields were mixed in the bond market, which has been Wall Street's main driver recently.
  • The S&P 500 rose 18.71 points, or 0.4%, to 4,376.95.
  • The Dow Jones Industrial Average rose 65.57 points, or 0.
...

Exxon Deal 'Ties Its Future to Fossil Fuels"

Energy giant buys Pioneer Natural in $59.5B deal

(Newser) - Almost no one has more places to drill in West Texas than Pioneer Natural Resources—which means almost no one will have more places to drill in West Texas than Exxon Mobil. The energy giant on Wednesday announced it would buy Pioneer in an all-stock deal worth just shy of...

These Companies Just Made Fortune 500's Top 10

Walmart takes top spot in annual ranking of largest US firms

(Newser) - Fortune has released its annual Fortune 500 rankings, its 69th version of the list of the country's largest corporations, based on revenue for 2022's fiscal year. Per a release , a company had to bring in $7.2 billion to be included, a jump of 13% from last...

Group Calculates Climate Reparations for Oil Companies

World's top companies would owe $209B a year, according to One Earth analysis

(Newser) - The top 21 fossil fuel companies are responsible for 36% of global emissions since 1988, according to a new study , which concludes BP, Shell, ExxonMobil, and others should collectively pay at least $209 billion annually in climate reparations. Talk of who should pay climate reparations typically falls to the level...

ExxonMobil Set to Square Off Against Activist Investors

Shareholder meeting at Chevron also promises to be contentious over emissions reduction plans

(Newser) - The fly on the wall at Wednesday's ExxonMobil shareholder meeting is likely to get quite an earful, notably on the topic of climate change. Quartz reports that the oil giant is expecting a battle with some of its more activist-leaning investors, including on multiple proposals regarding carbon emissions that...

ExxonMobil Made Record Profits Last Year

'Our results clearly benefited from a favorable market'

(Newser) - ExxonMobil posted record annual profits in 2022 as Americans struggled with high prices for gasoline, home heating, and consumer goods. The oil giant brought in $12.75 billion in profits in the fourth quarter, bringing annual net income to $55.7 billion. That exceeds Exxon's previous record of $45....

Researchers: This Is 'Smoking Gun' on an Exxon Cover-Up

Oil giant made eerily accurate predictions on climate change, then misled public, scientists say

(Newser) - Who needs Nostradamus when we've got Exxon? The Guardian reports that "a trove of internal documents and research papers" has long established that Exxon, now known as ExxonMobil, knew since the 1970s of the dangers of global warming, and that other oil companies acknowledged the same decades before...

Accusations of Big Oil 'Greenwashing' Are Well-Founded

Actions haven't lived up to clean energy rhetoric, researchers say

(Newser) - If actions speak louder than words, oil companies have been very quiet about transitioning to clean energy, according to a new study. Researchers in Japan looked at four major oil companies—BP, Chevron, ExxonMobil, and Shell—and found that while there had been a rise in promises of action and...

Green Investor Forces Exxon Directors Out

Unprecedented revolt over climate strategy puts at least 2 new members on board

(Newser) - ExxonMobil shareholders backed a hedge fund opposed to the company's approach to climate change issues by replacing board members Wednesday. It's the first such rebellion the company has ever faced, CNN Business reports. The hedge fund, Engine No. 1, won two board seats, and the races for two...

Dow Jones Is Removing Its Oldest Member

Exxon Mobil is among 3 leaving in shake-up

(Newser) - Three companies are departing the Dow Jones Industrial Average—including Exxon Mobil, currently the oldest member of the influential 30-company stock index. The oil giant, which joined the index in 1928 as Standard Oil, will be leaving along with Pfizer and Raytheon in the Dow's biggest shake-up since 2013,...

Female CEOs Just Made a Record Fortune 500 List

37 of the companies in the annual ranking are run by women—a record high

(Newser) - This year's Fortune 500 list is out, and the top 10 companies are the same ones that made it in 2019, with Walmart in the No. 1 spot for the eighth year in a row. The real story attracting buzz, though, is that 37 of the companies are led...

Exxon Wins Closely Watched Climate Case

New York state accused it of misleading investors on the related costs

(Newser) - ExxonMobil has prevailed in a rare legal situation: a climate change case that made it to trial. This one was more about alleged fraud than pollution, however, reports NPR . New York state Attorney General Letitia James accused the company of misleading investors about the potential cost of climate change, but...

Exxon Mobil Profit Falls 49%
Profits Plunge for Exxon Mobil
Nov 2, 2019 10:00 AM CDT

Profits Plunge for Exxon Mobil

But the Texas oil giant still reported over $3B in profits for the third quarter

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

This Company Has a -5% Corporate Tax Rate

GE tops WalletHub's list of companies with lowest corporate tax rates; Caterpillar has the highest

(Newser) - To best understand how President Trump's plan to cut the corporate tax rate from 35% to 20% would affect companies, it's necessary to determine a company's effective tax rate. WalletHub is on the case. The outlet reviewed annual reports for the top 100 companies on the S&...

Exxon Fined $2M for Sanctions Breach Under Tillerson

Company says it did nothing wrong

(Newser) - Exxon Mobil Corp. must pay a $2 million fine for showing "reckless disregard" for US sanctions on Russia while Secretary of State Rex Tillerson was the oil giant's CEO, the Treasury Department said Thursday. Exxon sued the US government to stop the fine. The Treasury said that Exxon...

10 Highest Paying Internships in US
Here, Interns Can
Earn $96K a Year
May 2, 2017 11:17 AM CDT

Here, Interns Can Earn $96K a Year

Facebook's interns are a lucky bunch

(Newser) - Contrary to popular belief, it is possible to keep a rewarding internship and a roof over your head . If you're prepared for a fight, you can find a great internship that also pays well—$8,000 per month in the case of Facebook. Here are the companies offering the...

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