SUBSCRIBE
PROFILE

Exxon: Shares at a Record Level

Exxon sees its shares set at their highest level on Friday as oil prices resume their ascent.

Share:

Subscribe for unlimited access to all energy sector news.

Over 150 multisector articles and analyses every week.

Your 1st year at 99 $*

then 199 $/year

SUBSCRIBE — 99 $ for the 1st year

Create a free account to read this article

*renews at 199$/year, cancel anytime before renewal.

Exxon sees its shares set at their highest level on Friday as oil prices resume their ascent. Thus, analysts are raising their long-term outlook on the company’s cash flow and earnings prospects.

New record

Exxon leads the way in record profits for the oil majors this year. The stock reached $106.40 on Friday before closing at $105.86. This figure beats the previous record of $104.59, set on June 8.

Exxon’s shares are up more than 70% since the beginning of the year. As a result, they are outpacing the market gains of competitors like Shell or BP. In addition, the company also beats the American oil company Chevron Corp.

The rise in the share price gives the company a market value of $438 billion. Exxon is the 10th most valuable public company in the world. In comparison, the company’s market capitalization peaked at over $500 billion in 2007.

Exxon could post another strong quarter thanks to high natural gas prices. Indeed, the company could post a record annual profit this year of $54.80 billion according to IBES Refinitiv. In addition, this figure represents more than the cumulative profits since 2018.

Important benefits

The year’s profits were largely driven by high energy prices. World oil reached a 14-year high in March at $139 per barrel. In addition, the price of oil remains close to $100 per barrel for most of the year.

The oil profits will allow the company to write off the $21 billion in loans taken out in 2020. The loan was used to pay its bills and keep its dividend payments intact. In addition, according to Wall Street, Exxon would add $26 billion in cash this year.

However, the company’s production is not as robust as its profits. Exxon’s mid-year production was 3.7 million barrels of oil and gas per day. This number remains in line with last year’s but down 9% from 2016.

However, these rising profits are a sore point for US President Joe Biden. He accuses, the American company, as well as other oil companies, of using “the windfall profits to buy back their own shares.” He says that more investment in new production, which would benefit consumers, would be better.

  • Popular on energynews.pro
India diversifies coking coal purchases, Australia retreats
Equinor, Shell and TotalEnergies launch the first subsea CO2 injection in Norway
Quebec allocates $1.5M to meet the demand for wind turbine technicians
Guidehouse forecasts $8.1 billion revenues for modular reactors by 2034
AMIGO LNG signs 15-year deal with Macquarie for 0.6 MTPA of LNG
US crude oil inventories fall by 2.4 million barrels
Commercial crude oil inventories fell more than expected in the United States, while gasoline demand crossed a key threshold, offering slight support to crude prices.
Washington grants sixth sanctions extension to Serbian oil firm NIS
The United States extends a 30-day reprieve to NIS, controlled by Gazprom, as Serbia seeks to maintain energy security amid pressure on the Russian energy sector.
CNOOC Limited records 6.1% increase in production for H1 2025
With net output reaching 384.6 million barrels of oil equivalent, CNOOC Limited continues its expansion, strengthening both domestic and international capacities despite volatile crude oil prices.
Talos discovers Daenerys in the Gulf, potential addition of 50 mn boe
The Daenerys oil discovery could increase Talos Energy’s proved reserves by more than 25% and reach 65,000 barrels per day, marking a strategic shift in its Gulf of Mexico portfolio.
Trump’s administration imposes 50% tariffs on Indian exports starting Wednesday
The United States will apply 50% tariffs on Indian exports in response to New Delhi’s purchases of Russian oil, further straining trade relations between the two partners.
The global petrochemical filtration market will reach $6.76bn by 2030
Rising energy demand is driving investments in petrochemical filtration, a market growing at an average annual rate of 5.9% through 2030.
Chevron eyes Libya return after fifteen years away from the oil market
Chevron has opened talks with Libya’s National Oil Corporation on a possible return to exploration and production after leaving the country in 2010 due to unsuccessful drilling.
Canada launches consultation on offshore drilling monitoring
The Impact Assessment Agency of Canada opens public consultation on its 2024-2025 draft monitoring report for offshore oil and gas exploratory drilling off Newfoundland and Labrador.
Cenovus acquires MEG Energy for $7.9 billion in strategic deal
Cenovus Energy announces the acquisition of MEG Energy through a mixed transaction aimed at strengthening its position in oil sands while optimizing cost structure and integrated production.
Vantage Drilling extends conditional agreement for the Platinum Explorer rig
Vantage Drilling International Ltd. extends the validity of its conditional letter of award until August 29, without changes to the initial terms.
Libya’s NOC Plans Bilateral Forum with American Energy Stakeholders
Libya is preparing to host an energy forum in partnership with American companies to boost investment in its oil and gas sectors.
The United States Sanctions Greek Shipper for Iranian Oil Trafficking
Washington increases pressure on Iran’s oil sector by sanctioning a Greek shipper and its affiliates, accused of facilitating crude exports to Asia despite existing embargoes.
BOEM validates final review for 30 offshore sales in the Gulf of America
The Bureau of Ocean Energy Management formalizes a strategic environmental review, setting the framework for 30 oil sales in the Gulf of America by 2040, in line with a new federal law and current executive directives.
Hungary Seeks U.S. Support After New Disruptions on the Druzhba Pipeline
Amid repeated disruptions on the Druzhba pipeline, attributed to Ukrainian strikes, Hungary has requested U.S. support to secure its oil supply.
Aker BP quadruples estimates for Omega Alfa field in the North Sea
Norwegian producer Aker BP raises its oil potential forecast for the Omega Alfa well, part of the Yggdrasil project, with estimated resources reaching up to 134 million barrels of oil equivalent.
BP Restarts Whiting Refinery After Flooding: Regional Market Pressures Emerge
The gradual restart of BP’s Whiting refinery following severe flooding is driving price and logistics adjustments across several Midwestern U.S. states.
Moretti expected to chair Petrobras board with ministerial backing
Bruno Moretti, current special secretary to the presidency, is in pole position to lead Petrobras’ board of directors after Pietro Mendes’ resignation for a regulatory role.
Next Bridge Raises $6 Million to Fund Panther Project in Louisiana
Next Bridge Hydrocarbons completes a $6 million private debt raise to support its involvement in the Panther project while restructuring part of its existing debt.
Sinopec Shanghai Posts Half-Year Loss Amid Declining Petrochemical Demand
Sinopec Shanghai Petrochemical reported a net loss in the first half of 2025, impacted by reduced demand for fuels and chemical products, as well as declining sales volumes.
Togolese ZIH Acquires Petrogal GB with Structured Financing from Ecobank
Zener International Holding takes over Petrogal’s assets in Guinea-Bissau, backed by a $24 million structured financing deal arranged with support from Ecobank and the West African Development Bank.

Log in to read this article

You'll also have access to a selection of our best content.

or

Go unlimited with our annual offer: $99 for the 1styear year, then $ 199/year.

SUBSCRIBE - €99