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☆ Why these industrial giants are betting on the transition to clean energy
▼ + stars: | 2023-11-13 | by ( Morgan Chittum | ) www.cnbc.com time to read: +6 min

"Right now, some of our favorite secular themes are the mega trends benefitting from a wave of federal spending — and the energy transition is one of those themes," he explained. CAT YTD mountain Caterpillar (CAT) year-to-date performance Elsewhere, Caterpillar has said the "energy transition and growing global energy demand are increasing [it's] total addressable market and furthering opportunities for long-term profitable growth." In terms of the energy transition, the company's aerospace business could see a boost from its development of sustainable aviation fuels. CEO Vimal Kapur last month said the industrials giant is "beginning to feel the urgency behind [the] energy transition." "Honeywell is in a unique position to both help the world meet today's growing energy needs, while also enabling the energy transition," Kapur said.

Persons: we're, Jeff Marks, Linde, Wall, I'm, Jim Cramer, Vimal Kapur, Kapur, Jim Cramer's, Jim, Krisztian Bocsi Organizations: Linde, LIN, Honeywell, Caterpillar, Investing, ExxonMobil, Exxon, BMO Capital Markets, Bank of America, CAT, CNBC, Linde AG, Treatment, Berlin, Bloomberg, Getty Locations: U.S, Berlin, Germany

☆ Exxon Mobil Plans to Produce Lithium in Arkansas
▼ + stars: | 2023-11-13 | by ( Clifford Krauss | More About Clifford Krauss | ) www.nytimes.com time to read: +1 min

Exxon Mobil said on Monday that it planned to set up a facility in Arkansas to produce lithium, a critical raw material for electric vehicles, which pose one of the biggest challenges to the company’s oil business. It could also open the door for southern Arkansas to emerge as a major source of lithium. Most of the metal today comes from Australia and South America and much of it is processed in China. “Electrification is going to be a major component of the energy transition and we bring highly relevant experience to the production of lithium,” Dan Ammann, president of Exxon Mobil Low Carbon Solutions and a former top executive at General Motors, said in an interview. “We see an opportunity to deploy that will be highly profitable.”

Persons: Dan Ammann, “ Organizations: Exxon Mobil, Exxon, Natural Resources, Carbon Solutions, General Motors Locations: Arkansas, Australia, South America, China, “

☆ Exxon Mobil plans to produce lithium for electric vehicle batteries
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailExxon Mobil plans to produce lithium for electric vehicle batteriesDan Ammann, president of Exxon’s low carbon solutions business, joins 'Squawk Box' to discuss their company's plans to produce lithium for electric vehicle batteries and more.

Persons: Dan Ammann Organizations: Exxon Mobil

☆ Watch CNBC's full interview with Exxon Mobil's Dan Ammann
▼ + stars: | 2023-11-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Exxon Mobil's Dan AmmannDan Ammann, president of Exxon’s low carbon solutions business, joins 'Squawk Box' to discuss their company's plans to produce lithium for electric vehicle batteries and more.

Persons: Exxon Mobil's Dan Ammann Dan Ammann Organizations: Exxon Mobil's

☆ Exxon aims to become a top lithium producer for electric vehicles with Arkansas drill operation
▼ + stars: | 2023-11-13 | by ( Spencer Kimball | ) www.cnbc.com time to read: +3 min

Exxon Mobil aims to become a leading producer of lithium for electric vehicle batteries through a drilling operation the oil giant is launching in Arkansas, the company announced Monday. Discussions with potential customers such as electric vehicle and battery manufacturers are ongoing, Exxon said in a statement. The lithium operation comes as the major oil companies are under pressure to address climate change. Exxon views lithium as a decadeslong investment with high growth potential as the U.S. shifts to electric vehicles, Ammann said. The U.S currently has just one commercial-scale lithium production operation, in Nevada.

Persons: Dan Ammann, Ammann, " Ammann, CNBC's Organizations: Exxon Mobil, Exxon, Shell, BP, CNBC, . Geological Survey, U.S, Li, Department of Energy, Electric, Cox Automotive Locations: Arkansas, U.S, Argentina, Chile, Nevada

☆ PetroChina to replace Exxon as lead contractor for Iraq's West Qurna 1 oilfield, oil executive says
▼ + stars: | 2023-11-11 | by ( Aref Mohammed | ) www.reuters.com time to read: +2 min

"We studied the settlement agreement and the oil ministry with the Basra Oil Company believe that the best option is for Petrochina to become the lead contractor of West Qurna 1," Hassan Mohammed, deputy Basra Oil Co. manager in charge of oilfields and licensing rounds affairs, told Reuters. Exxon and PetroChina were not immediately available for comment, but two oil managers at the West Qurna 1 field confirmed the details of the settlement and sale agreement signed with Exxon. Basra Oil Company director Khalid Hamza told Reuters in an interview in 2021 that Exxon was seeking to sell the share for $350 million. West Qurna 1, in southern Iraq, is one of the world’s largest oilfields with recoverable reserves estimated at more than 20 billion barrels. Following its exit from West Qurna 1, Exxon will have no presence in Iraq's energy sectory, said BOC officials.

Persons: Hassan Mohammed, PetroChina, Mohammed, Pertamina, Khalid Hamza, Aref Mohammed, Hadeel Al, Ahmed Rasheed, Kirsten Donovan, Giles Elgood Organizations: Exxon Mobil Corp, Basra Oil Company, Basra Oil Co, Reuters, Exxon, Exxon Mobil Corp's, BOC, Exxon Mobil’s, Thomson Locations: BASRA, Iraq, Iraqi, Basra, West, Indonesia’s, Iraq’s, Hadeel Al Sayegh, Dubai

☆ Exclusive: Exxon aims to begin lithium production by 2026 in Arkansas
▼ + stars: | 2023-11-11 | by ( Ernest Scheyder | Thomson Reuters | Ernest Scheyder Is An Award-Winning Senior Correspondent Covering The Green Energy Transition | ) www.reuters.com time to read: +4 min

For Exxon and other oil companies, lithium production offers the prospect of selling a new product with relatively little added cost. OTHER ACREAGESeparate from its Tetra partnership, Exxon also controls more than 100,000 acres in Arkansas from which it plans to begin lithium production by 2027, according to the source. It was not clear whether Exxon plans to expand lithium operations outside Arkansas. Like all oil producers, Exxon extracts water containing traces of lithium as part of fossil fuel production. The Arkansas Oil and Gas Commission, which overseas lithium operations in the state, has said it plans to hold hearings on the matter.

Persons: Darren Woods, Mike Blake, Albemarle, Ernest Scheyder, Caroline Humer, David Gregorio Our Organizations: ExxonMobil, Milken, Global Conference, REUTERS, Exxon Mobil, Exxon, Tetra Technologies, EV, Reuters, Tetra, Chevron, Battery Metals, EnergySource Minerals, Energy, Arkansas Oil and Gas Commission, Benchmark Minerals, Thomson Locations: Beverly Hills , California, U.S, Arkansas, Florida, Texas, Albemarle, Louisiana, Los Angeles

Many U.S. oil producers are pumping only enough oil to keep production flat and turning over more profit to investors. Shale gas producers have struggled all year and have not been able to reduce drilling fast enough to counter weak prices. But U.S. oil and gas producers are not looking to spend more, executives said. NOV's average earnings estimate for the fourth quarter was slashed by 7%, while pressure pumping provider Liberty Energy (LBRT.N)'s was trimmed by 3%. "At this point, we still are counting on the fourth quarter to be worse," said Rystad analyst Justin Mayorga.

Persons: Clay Williams, Michael Stock, Justin Mayorga, Samuel Sledge, Kevin Neveu, Helmerich, Payne, Neveu, Baker Hughes, Arathy Somasekhar, Tomasz Janowski Organizations: HOUSTON, Street, North, Liberty Energy, ProPetro, Rystad Energy, INTERNATIONAL, Exxon Mobil, Chevron, Drilling, Halliburton, Thomson Locations: U.S, North America, Alaska, Hawaii, United States, Kuwait, American, Houston

☆ Japan's Japex raises profit forecast on higher oil, weaker yen
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

TOKYO, Nov 10 (Reuters) - Japan Petroleum Exploration Co (Japex) (1662.T) on Friday raised its full-year net profit and dividend forecast as higher-than-expected oil prices and weaker yen are set to support results. Japex increased net profit forecast for the year ending in March 2024 by 32% to 45 billion yen ($297.2 million) from its August prediction and raised annual dividend forecast to 250 yen per share from 200 yen. "We now expect stronger earnings as firmer-than-expected oil prices and the yen's depreciation will boost our sales prices of oil and natural gas," Michiro Yamashita, senior managing executive officer, told a press conference. Its half-year net profit was down 12% to 27.8 billion yen due to a fall in oil prices from a year earlier and smaller gains from its equity holdings in some overseas energy projects. An absence of profit contribution from Russia's Sakhalin 1 oil and gas project where Japex holds a stake via Sakhalin Oil and Gas Development Co (SODECO) reduced non-operating profit by about 3 billion yen for the first-half, Yamashita said.

Persons: Michiro Yamashita, Japex, Yamashita, SODECO, Vladimir Putin, Japan's, Russia's, ONGC, Yuka Obayashi, Katya Golubkova, Tomasz Janowski Organizations: Japan Petroleum Exploration Co, Sakhalin Oil, Gas Development, Exxon, U.S ., Thomson Locations: TOKYO, Russia's Sakhalin, Sakhalin, Russian, U.S, Ukraine

☆ A bullish bet on Exxon Mobil using options after decline in crude oil prices
▼ + stars: | 2023-11-10 | by ( Jeff Kilburg | ) www.cnbc.com time to read: +4 min

@CL.1 YTD mountain WTI in 2023 Despite all of that sounding quite bleak for energy and oil, I believe there is opportunity in Exxon Mobil . Exxon is the world's largest refiner with a total global oil refining capacity of nearly 5 million barrels per day. The option strategy that I will utilize is a credit spread, better known as a risk reversal. This risk reversal is being used as an aggressive bull trade. Being forced to buy Exxon Mobil lower than where I initially opened the risk reversal is still a better outcome than if I would have simply purchased the stock outright.

Persons: Brian Sullivan, Sully, XOM Organizations: West Texas, Exxon Mobil, Exxon Locations: China

☆ Legendary oil mogul Harold Hamm eyes the next stage in the US shale oil boom: 'Generation 3' rock
▼ + stars: | 2023-11-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Shale industry legend Harold Hamm is looking to pull crude from "Generation 3" rock. This is a tougher form of rock that was largely neglected earlier in the shale revolution. AdvertisementAdvertisementShale industry legend Harold Hamm is looking ahead to the next potential breakthrough in US crude production. Hamm made a name for himself by applying horizontal drilling techniques to unlock vast amounts of oil in North Dakota's Bakken shale region. According to Bloomberg's calculations, oil drillers need crude prices of $86 or more to make their costliest wells profitable, up 50% since March 2022.

Persons: Harold Hamm, —, Hamm Organizations: Service, Bloomberg, Continental Resources, Exxon, Natural Resources Locations: North, Oklahoma

[1/5] Stephan Feldgoise, co-head of global M&A for of Goldman Sachs, speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 8, 2023. This has fueled soul-searching among investment bankers about the prospects for their business. "I'm reasonably bullish that this will return, but obviously it will be in fits and starts." "Our (deal pipelines) are at one of the largest levels that you've seen in five-six years. Reporting by Anirban Sen in New York; Editing by Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Persons: Stephan Feldgoise, Goldman Sachs, Brendan McDermid, Goldman, Steven Baronoff, Anu Aiyengar, Aiyengar, Anthony Kim, Kim, Michal Katz, Katz, Anirban Sen, Chizu Organizations: REUTERS, Goldman Sachs Group Inc, Reuters NEXT, Federal Reserve, Bank of America, Chevron Corp, Hess Corp, Exxon Mobil Corp, Natural Resources, JPMorgan Chase &, Microsoft Corp, Illumina Inc, Centerview Partners, Greenhill, Co Inc, Thomson Locations: New York City , New York, U.S, East, Ukraine, Americas, United States, New York

Net profit fell to $32.6 billion for the quarter to Sept. 30, above the $31.8 billion expected by 12 analysts in a company-provided forecast. The Saudi oil producer said lower oil prices and volumes were partially offset by a reduction in production royalties, which are linked to Brent prices. Chevron (CVX.N) and Exxon Mobil (XOM.N) last month reported sharp year-on-year falls in third-quarter profit as energy prices cooled. Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Back in 2021, Saudi Arabia's de facto ruler, Crown Prince Mohammed bin Salman, said that Saudi Aramco would sell more shares, with the proceeds going to bolster the PIF, the Vision 2030's main funding source.

Persons: Brent, Aramco's, Dado Ruvic, Prince Mohammed bin Salman, Hadeel Al Sayegh, Yousef Saba, Miral Fahmy, Jason Neely, Tomasz Janowski Organizations: DUBAI, Saudi Aramco, Chevron, Exxon Mobil, Reuters Graphics, OPEC, Aramco, REUTERS, Investment Fund, Energy, RBC, Riyadh bourse, Wall Street, Thomson Locations: Saudi, Reuters Graphics Saudi Arabia, Saudi Arabia, Aramco, Riyadh

Saudi Aramco logo and stock graph are seen through a magnifier displayed in this illustration taken September 4, 2022. Net profit fell to $32.6 billion for the quarter to Sept. 30 from $42.4 billion a year earlier. The Saudi oil producer said lower oil prices and volumes were partially offset by a reduction in production royalties. Chevron (CVX.N) and Exxon Mobil <XOM.N> last month posted sharp year-on-year falls in third-quarter profit as energy prices cooled. Aramco's revenue fell to $113.09 billion in the quarter from $144.99 billion a year earlier.

Persons: Dado Ruvic, Hadeel Al Sayegh, Yousef Saba, Miral Fahmy, Jason Neely Organizations: Saudi Aramco, REUTERS, DUBAI, Chevron, Exxon Mobil, OPEC, Aramco, Energy, Thomson Locations: Saudi, Saudi Arabia

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 27, 2023. Federal Reserve Bank of Minneapolis President Neel Kashkari doused hopes of early rate cuts late on Monday, saying the central bank likely has more work ahead of it to control inflation. Market participants will parse commentary from Fed Board Governor Christopher Waller and New York Fed President John Williams later on Tuesday for more clues on the central bank's interest rate path. Uncertainty about the timing of potential rate cuts and some dismal corporate forecasts for the fourth quarter have cast a doubt on whether there could be a year-end rally for stocks. ET, Dow e-minis were down 106 points, or 0.31%, S&P 500 e-minis were down 14.5 points, or 0.33%, and Nasdaq 100 e-minis were down 43.25 points, or 0.28%.

Persons: Brendan McDermid, Neel Kashkari, Christopher Waller, John Williams, Jerome Powell's, Ipek Ozkardeskaya, Amruta Khandekar, Maju Samuel Organizations: New York Stock Exchange, REUTERS, Companies, Dow, Nasdaq, Federal Reserve, Federal Reserve Bank of Minneapolis, Treasury, U.S, Fed, New York Fed, Swissquote Bank, EBay, Dow e, Exxon Mobil, Chevron, Occidental Petroleum, Intel, Thomson Locations: New York City, U.S, China

☆ U.S. investors rebuff big oil climate shareholder resolutions
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

Netherlands-based activist group Follow This was created first to target Shell (SHEL.L) and subsequently expanded to file climate resolutions at other western majors including BP (BP.L), Exxon Mobil (XOM.N), Chevron (CVX.N) and TotalEnergies (TTEF.PA). According to the data published by it and investors, giant U.S. investors BlackRock (BLK.N), Vanguard, State Street (STT.N) and JPMorgan (JPM.N) all voted against the Follow This resolutions this year. "Investors hold the key to tackling the climate crisis with their shareholder voting power at Big Oil. Amundi, Allianz, and UBS use their voting power to mitigate the climate crisis,” said Follow This founder Mark van Baal. This mirrors big shareholder proxy voting firm Glass Lewis and ISS, which changed some of their recommendations for this year to the detriment of Follow This, including withdrawing support for the activist resolution at Chevron.

Persons: Morgan Chase, Mike Segar, France's, ”, Mark van Baal, Glass Lewis, Shadia Nasralla, Jan Harvey Organizations: Co, New York City, REUTERS, Companies Allianz, Big U.S, Shell, BP, Exxon Mobil, Chevron, BlackRock, Vanguard, State, JPMorgan, Paris, Britain's HSBC, HSBA.L, UBS, Germany's Allianz, Big Oil, Amundi, Allianz, Britain's, General, Exxon, ISS, Thomson Locations: New York, Big, Paris, Netherlands, Chevron's

☆ Why EV charging is still such a pain
▼ + stars: | 2023-11-04 | by ( Peter Valdes-Dapena | ) edition.cnn.com time to read: +8 min

Power show that, despite more and more EV chargers being available, EV owners are actually getting less satisfied with public charging. When it comes to consumer satisfaction, EV charging is in some very poor corporate company. Away from home, charging your EV costs more than charging at home, sometimes twice as much. A ChargePoint electric vehicle (EV) charging station at the Lafontaine Kia dealership in Detroit, Michigan, US, on Thursday, July 13, 2023. Justin Sullivan/Getty Images“Safety is paramount,” said Rick Wilmer, chief operating officer of EV charging provider ChargePoint.

Persons: it’s, “ They’re, ”, Brent Gruber, Gruber, Bing Guan, There’s, Lafontaine, Matthew Hatcher, Nathan Wang, Wang, Justin Sullivan, Rick Wilmer, Wilmer, What’s, it’s Shell, don’t, Mark Hawkinson Organizations: New, New York CNN, J.D, EV, Department of Energy, CCS, Volvo, Bloomberg, Getty, Lafontaine Kia, UL, Vehicles, Bolt, BP, Exxon Locations: New York, ., United States, California, States, Mississippi, Montana, Detroit , Michigan, Corte Madera , California

☆ In a Warming World, Clean Energy Stocks Fall While Oil Prospers
▼ + stars: | 2023-11-03 | by ( Jeff Sommer | More About Jeff Sommer | ) www.nytimes.com time to read: +1 min

But the stock market doesn’t seem to have gotten the memo. Instead, the shares of a broad range of clean energy companies have been crushed lately, in a rout that encompasses just about every alternative energy sector, including solar, wind and geothermal power. At the same time, rather than weaning themselves off oil, Exxon Mobil and Chevron, the two biggest U.S. oil companies, are doubling down. The evidence that carbon emissions are warming the planet is persuasive. Yet the stock market, which is supposed to be forward-looking, is treating alternative energy companies with disdain and big oil companies with respect.

Persons: Hess Organizations: Exxon Mobil, Chevron, Exxon, Natural Resources

☆ These Oil Giants Don’t Seem Tempted by Merger Mania
▼ + stars: | 2023-11-02 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

Shell released solid third-quarter results on Thursday. Photo: Jason Alden/Bloomberg NewsOil bosses in Europe are intent on closing the valuation gap with their American rivals. This doesn’t automatically mean they will follow Exxon Mobil and Chevron down the megamerger path. “M&A is not really on our minds, if I’m honest,” BP interim boss Murray Auchincloss said on the company’s earnings call this week when asked for his reaction to Exxon Mobil and Chevron’s recent multibillion-dollar spending spree.

Persons: Shell, Jason Alden, Murray Auchincloss Organizations: Bloomberg News Oil, Exxon Mobil, Chevron Locations: Europe

☆ Shell’s shrinking green pledge risks backfiring
▼ + stars: | 2023-11-02 | by ( Yawen Chen | ) www.reuters.com time to read: +4 min

REUTERS/Callaghan O’Hare Acquire Licensing RightsSINGAPORE, Nov 2 (Reuters Breakingviews) - Shell (SHEL.L) CEO Wael Sawan has upped the UK group’s quarterly buyback plan while cutting back on unprofitable low-carbon activities. His pivot back into fossil fuels has shielded the $217 billion company from the wind energy troubles now ensnaring European peer BP (BP.L) and renewables giant Orsted (ORSTED.CO). But the strategy can work only as long as volatile energy prices stay high. Shell’s $6.2 billion third-quarter adjusted net profit shrunk by a third from a year earlier but came in line with analysts’ expectations. So far this year, the total return for Shell’s shareholders has hit 17%, above rivals like BP and TotalEnergies (TTEF.PA).

Persons: Wael Sawan, Daniel Yergin, Callaghan O’Hare, Sawan, Shell, pare, Lisa Jucca, Streisand Neto Organizations: Shell, P Global, REUTERS, Rights, Reuters, BP, EV, Nature Energy, Exxon Mobil, Chevron, Reuters Graphics Reuters, Carbon Solutions, Renewables, Energy Solutions, Thomson Locations: Houston , Texas, U.S, Rights SINGAPORE

☆ Chuck Schumer and Elizabeth Warren want FTC to probe blockbuster Exxon, Chevron mergers
▼ + stars: | 2023-11-01 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Senate Majority Leader Chuck Schumer, Sen. Elizabeth Warren and nearly two dozen other Democrats are demanding federal regulators probe the mega takeovers inked last month by ExxonMobil and Chevron. Exxon, already America’s biggest oil company, reached a deal in October to buy rival Pioneer Natural Resources for $60 billion. In the letter, the Senate Democrats argue past mergers that helped create Exxon and Chevron “enabled anticompetitive coordination” that hurt consumers by limiting supply of oil. “The oil-and-gas industry is still dominated by a handful of corporate giants, led by the top-two players Exxon and Chevron. The Senate Democrats note that Pioneer owns more drilling acreage than any other Permian producer and Exxon is also a top producer there.

Persons: Chuck Schumer, Sen, Elizabeth Warren, Hess, Schumer, Sens, Bernie Sanders, Amy Klobuchar, Exxon, White, Michael Kikukawa, ” Organizations: New, New York CNN, ExxonMobil, Chevron, Federal Trade Commission, Oil, Exxon, Natural Resources, FTC, Democrats, CNN Locations: New York, Chevron, Warren

☆ US Senator Schumer urges FTC to probe Exxon, Chevron mega-deals
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

Earlier this month, Exxon proposed to buy Pioneer Natural Resources (PXD.N) for $60 billion and Chevron agreed to acquire Hess (HES.N) for $53 billion. The Democratic Senate leader said in a letter that the two of the largest oil and gas deals of this century are "likely to harm competition." Chevron and Exxon have accumulated huge profits from strong energy prices and demand since Russia's invasion of Ukraine. The oil industry last went through an era of major consolidation in the late 1990s when Exxon, Shell (SHEL.L), BP (BP.L) and France's TotalEnergies (TTEF.PA) merged with rivals to create huge integrated companies. The acquisitions followed a collapse in oil prices that weakened many companies.

Persons: Dado Ruvic, Charles Schumer, Hess, Schumer, France's, Tanay Dhumal, Arunima Kumar Organizations: ExxonMobil, Pioneer, REUTERS, U.S, Wednesday, U.S . Federal Trade Commission, Exxon Mobil, Chevron Corp, Exxon, Natural Resources, Chevron, Democratic, Shell, BP, FTC, Big, Thomson Locations: Ukraine, United States, Bengaluru

WASHINGTON (AP) — Senate Majority Leader Chuck Schumer and 22 other Democratic senators are urging federal regulators to investigate multibillion-dollar acquisitions by oil giants ExxonMobil and Chevron, saying the deals could lead to higher prices at the gas pump. “These deals are likely to harm competition, risking increased consumer prices and reduced output throughout the United States,'' the senators wrote. Chevron, Exxon and other oil companies have announced huge profits from strong energy prices and demand since Russia’s invasion of Ukraine in February 2022. Exxon reported $9.1 billion in profits in the quarter that ended Sept. 30, while Chevron reported $6.5 billion in profits. Environmental groups hailed the call for an investigation of what some called “merger mania” within the oil industry that threatens competition.

Persons: Chuck Schumer, Exxon's, Chevron’s, Minnesota Sen, Amy Klobuchar, Elizabeth Warren of Massachusetts, Bernie Sanders, Chevron, Hess, Lukas Ross, ”, ” API's Bethany Williams, Schumer Organizations: WASHINGTON, ExxonMobil, Chevron, Federal Trade Commission, Natural Resources, Hess Corp, Exxon, FTC, Resources, Big Oil, American Petroleum Institute, Senate Commerce, Science, Transportation Locations: United States, Minnesota, Sens, Vermont, Ukraine, Texas, U.S, New York

☆ Why Exxon and Chevron’s Deals Leave Investors Cold
▼ + stars: | 2023-10-31 | by ( Jinjoo Lee | ) www.wsj.com time to read: 1 min

Chevron’s shares are down 12% since news of its acquisition of Hess. Photo: Brandon Bell/Getty ImagesU.S. oil majors Exxon Mobil and Chevron are good at squeezing hydrocarbons out of the ground. Digging for extra Brownie points from investors has been tougher. The companies have tried hard to be attractive, first by continuously demonstrating spending discipline and consistently doling out generous shareholder returns. Most recently, both announced mega acquisitions at reasonable prices.

Persons: Hess, Brandon Bell Organizations: Getty, Exxon Mobil, Chevron

☆ Big government will drive the next market cycle
▼ + stars: | 2023-10-31 | by ( Francesco Guerrera | ) www.reuters.com time to read: +8 min

Growth picked up while quiescent inflation permitted interest rates to fall. Bereft of government support, central banks tried to stimulate their economies by pushing interest rates to new lows. That means interest rates will struggle to return to the ultra-low levels seen after 2008. The first takeaway is that higher debt levels, inflation and interest rates should be bad for bonds. Vincent Deluard of StoneX has proposed a division between intangible and tangible companies.

Persons: Kevin Lamarque, ” Ronald Reagan’s, Milton Friedman –, Britain’s Margaret Thatcher –, Reaganomics ”, Réka Juhász, Nathan J, Lane, Dani Rodrik, government’s, Vincent Deluard, StoneX, Lockheed Martin, Peter Thal Larsen, Oliver Taslic, Thomas Shum Organizations: Republicans, Capitol, REUTERS, Reuters, Bank, Asset, Monetary Fund, Treasury, Capital Economics, Reuters Graphics Reuters Graphics, Capital, Facebook, Meta, Lockheed, Micron Technology, U.S, Congress, Nasdaq, Energy, Exxon Mobil, Labour Party, Thomson Locations: Washington , U.S, “, Ukraine, Covid, Europe, United States, United Kingdom, Germany, Japan

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