loader-image
weather icon 83°F
loader-image
weather icon 83°F

MICHELLE CHAPMAN Business Writer.

File - A sign marks the entrance to an ExxonMobil fuel storage and distribution facility in Irving, Texas, Jan. 25, 2023. Exxon Mobil reports earnings on Friday, Oct. 27, 2023 (AP Photo/LM Otero, File)

Q2 profits at Exxon Mobil and Chevron dip to lowest level in 4 years on subdued energy prices

August 1, 2025

Exxon Mobil’s profit dropped in the second quarter to the lowest level in four years as oil prices declined amid an increase in production by OPEC+, but the results still managed to beat Wall Street’s expectations. The oil and gas giant earned $7.08 billion, or $1.64 per share, for the period ended June 30. A year earlier it earned $9.24 billion, or $2.14 per share. The performance topped Wall Street’s expectations, but Exxon does not adjust its reported results based on one-time events such as asset sales. Analysts surveyed by Zacks Investment Research were calling for earnings of $1.49 per share.

Read More »
File - Chevron logos are displayed at a gas station in Columbus, Miss., Monday, Oct. 23, 2023.(AP Photo/Rogelio V. Solis, File)

Chevron gets go ahead for $53B Hess deal, and access to one of the biggest oil finds this decade

July 18, 2025

Chevron has scored a critical ruling in Paris that has given it the go-ahead for a $53 billion acquisition of Hess and access to one of the biggest oil finds of the decade. Chevron said Friday that it completed its acquisition of Hess shortly after the ruling from the International Chamber of Commerce in Paris. Exxon had challenged Chevron’s bid for Hess, one of three companies with access to the massive Stabroek Block oil field off the coast of Guyana. Guyana is a country of 791,000 people that is poised to become the world’s fourth-largest offshore oil producer, placing it ahead of Qatar, the United States, Mexico and Norway. It has become a major producer in recent years.

Read More »

Finance.

  • Loading stock data...