Exxon is the highest-quality integrated oil overall (operating and assets) and that its downstream and chemicals segments are key differentiators. So it stands to reason that it should invest to maximize those advantages. However, integrated oils have a spotty record of delivering on long-dated volume and return targets. Most analysts expect Exxon stock to go nowhere. If it does, you’re in good shape as an income investor, collecting a competitive dividend of 4%. But there is growing uncertainty at every stage of the oil business. U.S. production has been constrained by a shortage of pipelines in the Permian. America’s refining capacity is at its upper limit. International tensions are rising, and the International Energy Agency considers current investment insufficient.
Exxon Mobil must face class-action suit over climate-change accounting Exxon Mobil Corp. must face a lawsuit by investors who blamed a drop in the company's shares on the disclosure that regulators were scrutinizing its reserve accounting related to climate change. U.S. District Judge Ed Kinkeade on Tuesday denied Exxon's bid to dismiss the suit. He wrote that the Greater Pennsylvania Carpenters' Pension Fund, Pittsburgh, sufficiently pleaded securities fraud claims against the oil giant and several executives, including former CEO Rex Tillerson. (Pensions & Investments)
Give it some gas. Exxon Mobil signed a 20-year supply agreement to provide liquified natural gas (LNG) to Zhejiang Provincial Energy Group. Exxon will supply a 1 million tonnes of LNG to Zhejiang Energy annually, starting from 2020. Exxon's push comes as many other companies are holding back, waiting for the trade war to subside. Reuters
Exxon Victory Exxon has successfully defended itself against fraud claims brought by the New York attorney general, who had claimed the oil giant deceived investors over the future cost of climate-change regulation. New York State Supreme Court Justice Barry Ostrager said the AG had failed to prove its case, but added: "Nothing in this opinion is intended to absolve Exxon Mobil from responsibility for contributing to climate change through the emission of greenhouse gases in the production of its fossil fuel products." Wall Street Journal