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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.

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La primera semana de Trump trajo reformas clave en energía, tecnología e inmigración. Descubre cómo podrían afectar a los mercados.

Reformas de Trump: ¿Cómo están reaccionando las acciones tecnológicas y energéticas?

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Las acciones de Exxon Mobil (XOM) caen tras anunciar despidos posterior a la adquisición de Pioneer Natural Resources.

Exxon Mobil (XOM) reduce personal después de la fusión con Pioneer

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CNBC Halftime Report Final Trades: iShares U.S. Energy ETF, Alphabet, UnitedHealth Group, Schlumberger N.V.

In a corporate cage match, two of the globe&#8217;s most dominant oil titans are fighting it out for a share of one of the world&#8217;s most coveted oil finds: Guyana. But while Chevron Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) and Exxon Mobil Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) are in the midst of arbitration, ETF investors may need to hold on tight. This courtroom battle could rock some of the <a href="https://www.benzinga.com/etfs">largest energy ETFs available</a>.
<h1 class="wp-block-heading">The Stakes: Oil, Ego — And An 11 Billion Barrel Bonanza</h1>
Behind the fight is Hess Corp&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HES#NYSE">HES</a>) 30% interest in a huge Guyanese oil project, which has roughly 11 billion barrels in projected reserves. Chevron said in 2023 it agreed to buy Hess for $53 billion, a transaction that would put it at the front of the Guyana boom. 
But Exxon, which already <a 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">co-leads the Guyana project</a>, says it has pre-emptive rights to the stake. Arbitration gets underway in London this week, and sometime in late summer, a panel will <a href="https://www.benzinga.com/topic/oil">make a decision</a>.
<h1 class="wp-block-heading">ETF Fallout: Who&#8217;s Exposed To What?</h1>
The heavy hitters such as Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>), iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) and Vanguard Energy Index Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VDE#NYSE">VDE</a>) are carrying heavy loads of both Exxon and Chevron, between 35% and 40% combined weighting in each fund.
If either Exxon or Chevron prevails, one can anticipate a pop for these ETFs as the Guyana deal would mean long-term growth assets for the prevailing company.
Hess Corp. is smaller but essential in this saga. ETFs such as iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>) carry meaningful exposure to Hess, and therefore a front-row seat to either a lucrative M&amp;A payday or a disappointing fizz.
Additionally, merger arbitrage ETFs, such as NYLI Merger Arbitrage ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MNA#NYSE">MNA</a>) and ProShares Merger ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/MRGR#BATS">MRGR</a>), are likely to be betting on the Hess factor already. If the transaction gets delayed or blocked further, one can expect some readjustment.
<h1 class="wp-block-heading">Beyond the Big Oil Bets</h1>
As Chevron cuts jobs and balances new resources in Kazakhstan and the Gulf of Mexico, it also deals with <a href="https://www.benzinga.com/markets/25/02/44000386/trump-shuts-down-chevrons-venezuela-oil-permit-tightening-pressure-on-maduro-regime-crude-oil-prices-rise-on-supply-concerns">uncertainty in Venezuela</a>, where an operating license may be withdrawn. Exxon is increasing <a href="https://corporate.exxonmobil.com/locations/guyana/guyana-project-overview">production </a>in Guyana to 1.3 million barrels/day by 2027, greater than North Dakota&#8217;s Bakken Shale.
<h1 class="wp-block-heading">One Wrong Move = ETF Domino Effect</h1>
With activist investors watching Exxon and Chevron still under pressure to prove long-term growth, the arbitration&#8217;s outcome could drive major portfolio re-weightings, flows into specific funds or a rise in thematic oil and gas ETFs.
In short, this isn't just a battle over barrels, it's about which ETFs end up doing well and which might need a Band-Aid.
<h1 class="wp-block-heading">Final Thought</h1>
This Guyana brawl might be happening in a London arbitration chamber, but its aftershocks will be felt through world markets and ETF tickers. For investors, it&#8217;s time to look beyond the barrel and begin peering at the ticker tape.
Read Next: 
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Exxon Stock Vs. Chevron: The 11 Billion Barrel Oil War That Could Shake Up Energy ETFs

Jim Lebenthal of Cerity Partners named Delta Air Lines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) as his final trade on CNBC's &#8220;<a href="https://www.cnbc.com/video/2025/05/22/final-trades-delta-air-lines-mercadolibre-toast-and-the-iye.html">Halftime Report Final Trades</a>,&#8221; adding that people are flying and growth estimates <a href="https://www.benzinga.com/quote/DAL/analyst-ratings" target="_blank" rel="noopener">will</a><a href="https://www.benzinga.com/quote/DAL/analyst-ratings"> start going back higher</a>.
UBS analyst Thomas Wadewitz supported his view on Monday by upgrading Delta Air Lines from Neutral to Buy and raising the price target from $46 to $66.
Shannon Saccocia, chief investment officer of NB Private Wealth, said the iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) is undervalued because it is priced in with a lot of negative news.
Supporting her view, Paycom Software, on May 7, reported better-than-expected first-quarter earnings and sales.
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>
Joseph M. Terranova, senior managing director for Virtus Investment Partners, said MercadoLibre, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>) is the best consumer discretionary stock.
Adding support to his choice, MercadoLibre, on May 7, reported quarterly earnings of $9.74 per share which beat the analyst consensus estimate of $8.03 per share. The company reported quarterly sales of $5.93 billion which beat the analyst consensus estimate of $5.51 billion.
Joshua Brown, CEO of Ritholtz Wealth Management, named Toast, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TOST#NYSE">TOST</a>) his final trade.
Supporting his view, BMO Capital analyst Rufus Hone maintained Toast with an Outperform rating on May 12 and raised the price target from $44 to $45.
Price Action:
<ul class="wp-block-list">
<li>Delta Air Lines shares gained 0.5% to close at $48.50 on Thursday.</li>
<li>Toast shares fell 0.4% to close at $42.68 on Thursday.</li>
<li>MercadoLibre gained 0.2% to settle at $2,606.01 during Thursday's session.</li>
</ul>
Check This Out:
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<li><a href="https://www.benzinga.com/25/05/45562909/top-2-financial-stocks-that-may-keep-you-up-at-night-in-may"> Top 2 Financial Stocks That May Keep You Up At Night In May</a></li>
</ul>
Photo: Shutterstock

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MELI

TOST

Toast, Delta Air Lines, MercadoLibre And More On CNBC's 'Final Trades'

CNBC Halftime Report Final Trades: MercadoLibre, Delta Air Lines, Toast, iShares U.S. Energy ETF

Officials from the U.S. and Russia have commenced discussions in Saudi Arabia. The goal of these talks is to establish a comprehensive ceasefire in Ukraine and a distinct Black Sea maritime agreement.
What Happened: These talks come on the heels of U.S. negotiations with Ukraine that took place in Saudi Arabia on Sunday. The discussions are a part of U.S. President Donald Trump&#8216;s escalated efforts to resolve the conflict that has been ongoing for three years. The U.S. delegation is spearheaded by Andrew Peek, a senior director at the White House National Security Council, and Michael Anton, a senior State Department official, reported the Reuters on Monday.
The talks primarily aim to secure a maritime ceasefire in the Black Sea to enable free shipping. Russia&#8217;s delegation features Grigory Karasin, the chair of the Foreign Affairs Committee in the upper house of parliament, and Sergei Beseda, an adviser to the Federal Security Service&#8217;s director.
Trump has expressed satisfaction with the progress of the talks and lauded Russian President Vladimir Putin&#8216;s involvement. However, major European powers remain doubtful about Putin&#8217;s readiness to make significant concessions.
The talks also aim to discuss &#8220;the line of control&#8221; between the two countries, peacekeeping, and &#8220;confidence-building measures,&#8221; including the repatriation of Ukrainian children taken by Russia.
About Ukraine honoring the terms of the Black Sea Grain Deal, Kremlin spokesman Dmitry Peskov stated, &#8220;But if you remember the initiative in its previous form, there was quite a large part of the obligations to our country that were not fulfilled last time. Therefore, this will also be on the agenda today.&#8221;
SEE ALSO: <a href="https://www.benzinga.com/general/space/25/03/44454270/crypto-tycoon-joins-forces-with-elon-musks-spacex-to-launch-first-private-space-station">Crypto Tycoon Joins Forces With Elon Musk&#8217;s SpaceX To Launch First Private Space Station</a>
Why It Matters: These discussions follow the Trump administration&#8217;s push for <a href="https://www.benzinga.com/25/03/44435337/trump-administration-pushes-for-revised-terms-to-access-ukraines-critical-resources-amid-peace-talks-report">revised terms to access </a>Ukraine&#8217;s critical resources amid peace talks. The U.S. is persuading Kyiv to agree to comprehensive terms about the ownership and control of a joint investment fund. This could potentially extend to U.S. ownership of other economic assets in Ukraine, such as nuclear power plants.
 Trump announced that the U.S. is aiming to establish agreements on rare earths and minerals globally, with a special focus on Ukraine. This initiative is part of a larger strategy to secure a peace agreement with Russia.
Following the reports of the peace talks, oil prices climbed on Monday as the Brent crude futures gained 54 cents at $72.18 a barrel by 1102 GMT. IG market strategist Yeap Jun Rong told Reuters, &#8220;&#8230;the broader demand-supply outlook still remains mixed. Ukraine-Russia ceasefire talks raise the prospects of increased Russian exports on an eventual resolution, while the OPEC+ production hike as early as April points to further supply additions.&#8221; 
These developments, along with U.S. sanctions on Iranian exports, make energy ETFs a key area of investor interest. iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) climbed 0.75% over the past month, while SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) dropped 2.57% during the same period. 
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/forex/25/03/44454065/india-china-markets-gain-in-asia-europe-mixed-dollar-eases-global-markets-today-while-us-slept">India, China Markets Gain In Asia, Europe Mixed; Dollar Eases &#8211; Global Markets Today While US Slept</a></li>
</ul>
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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.
<a rel="noreferrer noopener" href="https://www.benzinga.com/quote/xop" target="_blank"></a>

Oil Rises As US And Russia Begin Talks In Saudi Arabia For Ukraine Ceasefire, Black Sea Deal

Oil prices fell 1% Tuesday with geopolitical change and economic uncertainty contributing to market expectations. 
<a href="https://www.benzinga.com/news/global/25/03/44384160/oil-prices-slip-energy-stocks-pause-as-trump-putin-call-signals-ukraine-ceasefire-progress">Diplomatic talks between</a> U.S. President Donald Trump and Russian President Vladimir Putin encouraged the prospect of a Ukraine ceasefire that might relax sanctions on Russian fuel exports, according to Reuters. But analysts warn it will take time for a meaningful recovery in Russian oil output. While this is, at least in part, due to the effects of Trump&#8217;s trade tariffs on energy demand, there are a number of other factors coming into play. These combine to create a complicated energy scenario, making <a href="https://www.benzinga.com/etfs">energy ETFs</a> a focal point of investor interest.
<h1 class="wp-block-heading">How Energy ETFs Fit Into The Picture</h1>
ETFs provide exposure to the energy sector with risk management against changing oil prices and geopolitical events. Here&#8217;s how various kinds of energy ETFs could be impacted:
Diversified Energy ETFs: These offer diversified exposure to exploration, production, refining and transport, enabling investors to control volatility. Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) and the iShares U.S. Energy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYE#NYSE">IYE</a>) are options to consider, with expense ratios of 0.08% and 0.4%, respectively.
Exploration and Production (E&amp;P) ETFs: Concentrated on extracting oil and gas, these ETFs can experience volatility due to changes in supply and demand. Investors may look at the SPDR S&amp;P Oil &amp; Gas Exploration &amp; Production ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOP#NYSE">XOP</a>) and the iShares U.S. Oil &amp; Gas Exploration &amp; Production ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/IEO#BATS">IEO</a>). The ETFs carry an expense ratio of 0.35% and 0.4%, respectively.
Midstream ETFs: Comprising less price-volatile components, these may be rewarded with higher oil transport and storage requirements. Examples include the Alerian MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMLP#NYSE">AMLP</a>) and the Global X MLP ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MLPA#NYSE">MLPA</a>), with expense ratios of 0.85% and 0.45%, respectively.
Also Read: <a href="https://www.benzinga.com/25/03/44217245/us-shale-industry-set-to-boost-oil-output-despite-falling-prices-says-energy-secretary-the-economics-of-shale-dont-work-says-expert">US Shale Industry Can Deliver Trump&#8217;s Pledge For &#8216;Drill, Baby, Drill&#8217; Despite Falling Prices, Says Energy Secretary: &#8216;The Economics Of Shale Don&#8217;t Work,&#8217; Says Expert</a>
<h1 class="wp-block-heading">Contributing Factors To Slowing Oil Prices</h1>
• If sanctions against Russia are relaxed, its crude output — presently at 9.2 million barrels per day (bpd), from 10.6 million bpd in 2016 — might rise. But significant supply shifts might not be immediate, per the Reuters report.
• Trump's tariffs are pressuring global growth. The OECD warns of slower growth, while Wood Mackenzie cut its 2025 Brent crude forecast by $7 to $73 per barrel, according to Reuters.
• OPEC+ is going ahead with its scheduled April output increase, pumping additional supply into the market.
• Middle East uncertainty is another underpinning factor in oil prices. Trump&#8217;s military intervention in support of Iran-aligned Houthis in Yemen and Israeli airstrikes on Gaza inject volatility into the global oil supply.
• Chinese and German economic stimulus may be able to sustain oil demand, offsetting some of the pressure on prices lower.
• This week, the American Petroleum Institute (API) and U.S. Energy Information Administration (EIA) will report on oil inventories. Reuters reported that a 0.9 million barrel build is expected by analysts, which may have an impact on short-term price action.
Oil prices continue to be very volatile based on geopolitical and economic reasons. Energy ETFs provide investors with the means to ride out these changes, managing risk while achieving opportunity. Monitoring worldwide trends and inventory reports will be paramount in making smart investment decisions.
Read Next: 
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<li><a href="https://www.benzinga.com/etfs/sector-etfs/25/03/44382780/3-best-performing-semiconductor-etfs-since-last-gtc-and-why-this-time-is-different">3 Best-Performing Semiconductor ETFs Since Last GTC And Why This Time Is Different</a></li>
</ul>
Photo: Shutterstock

AMLP

MLPA

Oil Prices Ease: What It Means For Energy ETFs, Investors

Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) subsidiary, Esso Australia Resources Pty Ltd, revealed a nearly $200 million investment in the Kipper <a target="_blank" href="https://corporate.exxonmobil.com/locations/australia/australia-newsroom/news-releases/2025/esso-mitsui-and-woodside-to-invest-nearly-200-million-into-the-gippsland-basin" rel="noreferrer noopener">1B </a>Project.
Esso manages assets in Bass Strait, which are part of the Gippsland Basin Joint Venture with Woodside Energy, as well as the Kipper Unit Joint Venture with Woodside and Mitsui.
The Kipper 1B Project, approved by Esso Australia and its co-venturers will utilize the VALARIS 107 jack-up rig to drill and install a subsea well in the Kipper field.
The project also includes major upgrades to the West Tuna platform and drilling in the Kipper field is scheduled to begin later this year, with simultaneous upgrades to the West Tuna platform.
The project aims to boost capacity from the Kipper field, ensuring a critical gas supply to the market before the winter of 2026.
Notably, the Kipper 1B Project builds on the success of the recently completed Kipper Compression Project and the West Barracouta project, which went live in 2021.
Read: <a target="_blank" href="https://www.benzinga.com/markets/commodities/25/02/43444183/chevron-exxon-and-shell-shift-focus-to-powering-ai-growth" rel="noreferrer noopener">Chevron, Exxon And Shell Shift Focus To Powering AI Growth</a>
ExxonMobil Australia Chair Simon Younger said, &#8220;Esso Australia continues to invest in multiple projects that ensure our Gippsland operations sustain gas production well into the 2030s.&#8221;
&#8220;Projects like Kipper 1B are vital to help meet the country's energy security needs by bringing new supply online, which will be used exclusively for Australia's domestic market.&#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 down 0.27% at $110.39 at the last check Monday.
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Image via Shutterstock.

Contracts

ExxonMobil Australia And Partners Ramp Up Kipper 1B Project Investment: Details

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.
Read Next:
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<li><a href="https://www.benzinga.com/government/regulations/25/01/43380449/us-stock-futures-climb-after-apple-beats-q4-expectations-expert-says-tech-stocks-hold-above-key-level-despite-deepseek-impact" target="_blank" rel="noreferrer noopener">US Stock Futures Climb After Apple Beats Q1 Expectations: Expert Says Tech Stocks Hold Above Key Level Despite DeepSeek Impact</a></li>
</ul>
Photo via Shutterstock.

Earnings

Guidance

Movers

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>
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Photo courtesy: Shutterstock

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.
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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.
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
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

GLPEY

SHEL

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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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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
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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
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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
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</ul>

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:
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<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

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
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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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Image: Shutterstock

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:
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<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>
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