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Exxon Mobil (XOM) concluded the recent trading session at $124.61, signifying a +1.38% move from its prior day's close.
Country is ‘uninvestable' today, president told, but CEOs signal they are ready to spend with support
Exxon Mobil Corp. Darren Woods says the company is taking a long-term view on Venezuela after meeting with President Donald Trump at the White House. -------- More on Bloomberg Television and Markets Like this video?
President Donald Trump met Friday afternoon with more than a dozen oil companies at the White House to discuss plans for investment in Venezuela, less than a week after the U.S. ousted President Nicolas Maduro. Trump said oil companies will spend at least $100 billion to rebuild Venezuela's energy sector.
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CNBC's Brian Sullivan reports on President Trump's commentary about Venezuela's oil industry during his meeting with oil executives at the White House.
Exxon Mobil CEO Darren Woods said on Friday the U.S. oil major could hit the ground running in Venezuela and evaluate potentially returning to Venezuela.
Exxon (XOM) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
XOM signs an MoU with Turkey's oil company to explore the untapped Black Sea and Mediterranean areas for oil and gas, using its expertise.
ExxonMobil warns that upstream earnings face pressure from lower oil prices, but its integrated model boosts refining gains to cushion profitability.
President Donald Trump has invited U.S. oil companies to a meeting at the White House on Friday, which is expected to begin at 2:30 p.m. Eastern time.
Interior Secretary Doug Burgum says US oil companies are very interested in revitalizing Venezuela's oil sector. But he says the Trump administration is unlikely to subsidize their efforts.
Stock futures edged higher Friday ahead of the December U.S. jobs report and a possible Supreme Court ruling on President Donald Trump's tariffs, with major equities indexes poised to register solid weekly gains.
Exxon Mobil stands to benefit from U.S. involvement in Venezuela, unlocking access to vast, underdeveloped oil reserves. XOM's fundamentals remain robust, with a strong balance sheet, disciplined capital allocation, and a 43-year dividend growth streak. Despite recent underperformance and a higher forward P/E of 18x, XOM's premium valuation is justified by quality, project pipeline, and potential Venezuela upside.
Exxon Mobil common stock has shown resilience by not declining materially despite persistent negative sentiment toward oil and gas. XOM's stock tends to lead industry recoveries. The Seeking Alpha quant system currently rates XOM as a hold. This reflects the sector's out-of-favor status.
Top oil companies will meet with President Donald Trump on Friday to discuss rebuilding Venezuela's oil industry.
The largest oil companies are likely to move slower in terms of making investments in Venezuela, with wildcatters or independent oil companies likely to move much more quickly, U.S. Treasury Secretary Scott Bessent said on Thursday.
Chevron is the only one of the three major U.S. oil companies that operates in Venezuela. ConocoPhillips and ExxonMobil exited Venezuela in 2007 after Hugo Chávez nationalized the industry.
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