• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Technology & Startups

Exxon beats Q4 estimates with higher Permian, Guyana output

January 31, 2025
in Technology & Startups
Reading Time: 3 mins read
A A
0
4
SHARES
8
VIEWS
Share on FacebookShare on Twitter


By Sheila Dang

HOUSTON – Exxon Mobil (XOM)on Friday beat Wall Street’s estimate for fourth-quarter profit as higher oil and gas production offset lower oil prices and weaker refining margins.

Fourth quarter profit was $7.39 billion. Profit per share was $1.67, beating analyst estimates of $1.56, according to LSEG data.

The No. 1 U.S. oil producer reported total earnings of $33.46 billion for full-year 2024, down from $38.57 billion the year earlier.

The company became the largest oil producer in the Permian basin in 2024, the biggest U.S. oilfield, after closing its acquisition of Pioneer Natural Resources in May.

Exxon’s low production costs in the basin and its lucrative and prolific projects in Guyana have bolstered the company’s profits despite lower oil prices and a decline in profits for making fuel.

The company signaled earlier this month that sharply lower oil refining margins would cut earnings by between $300 million and $700 million compared to the third quarter.

The startup of new oil refineries by other companies in Asia and Africa led to higher global fuel supply, even as demand for gasoline and diesel lagged expectations.

The refining business remains under pressure as the additional supply enters the market, said Exxon Chief Financial Officer Kathryn Mikells in an interview.

“That’s really what we’re watching as we look ahead to 2025,” she said.

The company previously said that impairments across the business would cost about $600 million in the fourth quarter. The charges come from selling non-strategic assets, including a joint venture in Nigeria, Mikells said.

The largest U.S. oil producer continues to expect a decision by September in its arbitration challenge to Chevron’s acquisition of oil producer Hess, she said. If Chevron proceeds, it would gain a foothold in Guyana’s oil projects.

While the deal has been approved by U.S. regulators, Exxon and CNOOC, which are Hess’ partners in the Guyana oil joint venture, say they have a contractual first right to buy Hess’ stake.

Shareholder returns via buybacks and dividends totaled $36 billion in 2024, up from $32 billion the previous year. The shareholder distributions, a cornerstone of Big Oil’s strategy to court investors, were covered by Exxon’s free cash flow of $36.2 billion.

(Reporting by Sheila Dang in Houston; Editing by Simon Webb and Michael Perry)

Tags: Exxon Mobilfourth-quarter profitGuyanaoil and gas productionOil pricesoil produceroil projectsoil refiningPioneer Natural Resourcesquarter profit
Previous Post

Ontario election 2025: Where the party leaders are on Friday, Jan. 31

Next Post

Weather tracker: Elvis shakes Madagascar after Europe’s triple threat

Related Posts

Tesla stock rebounds after Trump-Musk blowup leads to $150 billion wipeout

June 6, 2025
2

What to expect from Apple’s WWDC event as Wall Street looks for AI gains

June 6, 2025
6
Next Post
Weather tracker: Elvis shakes Madagascar after Europe’s triple threat

Weather tracker: Elvis shakes Madagascar after Europe’s triple threat

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
FuelCell (FCEL) Q2 2025 Earnings Call Transcript

FuelCell (FCEL) Q2 2025 Earnings Call Transcript todayheadline

June 6, 2025

Arlo technologies CFO sells shares worth $1.18 million todayheadline

June 6, 2025
How Shoott Found a Customer Base It Wasn't Expecting

How Shoott Found a Customer Base It Wasn’t Expecting todayheadline

June 6, 2025
Karl Rove: Trump’s economic 'gyrations' pushing America to the 'stage of exhaustion'

Karl Rove: Trump’s economic ‘gyrations’ pushing America to the ‘stage of exhaustion’ todayheadline

June 6, 2025

Recent News

FuelCell (FCEL) Q2 2025 Earnings Call Transcript

FuelCell (FCEL) Q2 2025 Earnings Call Transcript todayheadline

June 6, 2025
3

Arlo technologies CFO sells shares worth $1.18 million todayheadline

June 6, 2025
5
How Shoott Found a Customer Base It Wasn't Expecting

How Shoott Found a Customer Base It Wasn’t Expecting todayheadline

June 6, 2025
5
Karl Rove: Trump’s economic 'gyrations' pushing America to the 'stage of exhaustion'

Karl Rove: Trump’s economic ‘gyrations’ pushing America to the ‘stage of exhaustion’ todayheadline

June 6, 2025
4

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Cybersecurity
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

FuelCell (FCEL) Q2 2025 Earnings Call Transcript

FuelCell (FCEL) Q2 2025 Earnings Call Transcript todayheadline

June 6, 2025

Arlo technologies CFO sells shares worth $1.18 million todayheadline

June 6, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co