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Exxon Mobil Corp (XOM)

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Asia FX weak, dollar steady after hawkish Fedspeak, strong labor data
3 hours ago

Asia FX weak, dollar steady after hawkish Fedspeak, strong labor data

© Reuters. Investing.com– Most Asian currencies fell on Friday, while the dollar steadied from recent losses as hawkish signals from the Federal Reserve and strong…

Dollar index on track for first weekly fall this year
3 hours ago

Dollar index on track for first weekly fall this year

© Reuters. FILE PHOTO: A banknote of Japanese yen is seen in this illustration picture taken June 15, 2022. REUTERS/Florence Lo/Illustration/File Photo By Karen Brettell…

Canadian dollar weakens vs. USD as spreads, Bank of Canada bets prove a headwind
3 hours ago

Canadian dollar weakens vs. USD as spreads, Bank of Canada bets prove a headwind

© Reuters. Investing.com – The lost further ground against its US counterpart today, and with the greenback gaining roughly a third of a percent vs.…

Ethereum (ETH) Reclaims $3K Level as Bitcoin (BTC) Eyes $52K (Weekend Watch)
5 hours ago

Ethereum (ETH) Reclaims $3K Level as Bitcoin (BTC) Eyes $52K (Weekend Watch)

Bitcoin’s price went on the offensive once again after yesterday’s retracements and came inches away from tapping $52,000. Most altcoins are also slightly in the…

US Judge Approves Binance’s $4.3 Billion Settlement Deal: Reuters
5 hours ago

US Judge Approves Binance’s $4.3 Billion Settlement Deal: Reuters

A U.S. federal judge has approved Binance’s guilty plea and a hefty $4.3 billion settlement deal for violating anti-money laundering (AML) and sanctions laws through…

Exxon Mobil Corporation — full business overview

Exxon Mobil Corporation is an American company and one of the largest oil companies in the world. The company emerged as a result of the merger between Exxon and Mobil, which were the successors of the original Standard Oil company founded by John Rockefeller. In 1911, Standard Oil was divided into 34 separate companies due to antitrust laws, but some of these companies later merged again, resulting in the formation of Exxon Mobil. This historical cycle demonstrates how companies can split and potentially merge again in the future, similar to what may happen if Amazon were to be divided.

Exxon Mobil — full overview of the business and key projects of XOM stock

The XOM stock is divided into several segments, including Upstream, Downstream, Chemical, and Corporate and Financing.

Upstream

This segment is the first in the production plan and is responsible for the exploration and extraction of minerals. It is traditionally the most profitable segment for Exxon Mobil. The Upstream segment consists of five structures:

Conventional oil and gas production

This involves extracting oil and gas from reservoirs that are trapped between hard rock formations. The hydrocarbons in such basins can be accessed through vertical wells. Exxon Mobil produces approximately 1 million net barrels of oil and over 2 billion net cubic feet of natural gas per day in this segment.

Oil and gas production from specific reservoirs

This involves extracting oil and gas from reservoirs that are not trapped in solid rock, requiring the use of hydraulic fracturing technology and horizontal wells. This includes shale hydrocarbon production, with operations in the USA and Western Canada. The Permian Basin, for example, produced nearly 300,000 barrels of oil equivalent per day in 2019. Exxon Mobil has significant investments in this area due to its substantial reserves exceeding 10 billion boe.

LNG production

Exxon Mobil believes that by 2040, natural gas will replace a portion of oil and coal in the global energy supply, making it one of the largest sources of energy. The company has been involved in liquefied natural gas (LNG) production for 40 years and expects LNG to account for a third of gas consumption by 2040.

Deep-water production of oil and gas

This division focuses on identifying and developing oil production sites in underwater locations. Exxon Mobil has projects in Guyana, Brazil, and the Eastern Mediterranean, with the largest project in Guyana expected to yield around 750,000 barrels of oil equivalent by 2026. The company explores for oil in 34 countries overall.

Heavy Oil

With the decline of light oil reserves, Exxon Mobil is actively involved in the development of technologies for extracting ultra-viscous oil, which is becoming increasingly important worldwide.

Chemical segment

Exxon Mobil is one of the largest petrochemical companies in the world, and its chemical segment plays a significant role in its business operations. The company’s production facilities are integrated with oil and gas refineries located in major regions across the globe, including the United States, Europe, China, India, the Middle East, Latin America, and Australia.

Exxon Mobil’s chemical segment manufactures a wide range of products that find applications in various industries. These products include adhesives, sealants, polyethylene polymers, plastic components for automotive parts, as well as various components used in diapers and hygiene products. This is just a fraction of the products offered by the company, as there are many other items specific to each industry when examined in more detail.

Downstream segment

The downstream segment of Exxon Mobil focuses on the refining of oil and gas into fuels and lubricants, as well as their distribution. The company sells more than 5.4 million barrels of oil daily through its network of over 21,000 retail outlets under brands such as Esso, Exxon, and Mobil. ExxonMobil operates approximately 21 refineries in different parts of the world to support its downstream operations.

Additionally, on the Letizo website, you can find not only today’s XOM stock prices but also interesting news about major companies, including Ford stock, stock indices, cryptocurrencies, and more.

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