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Exxon Mobil Corp. has signed a preliminary agreement to supply up to 100,000 tons of lithium carbonate to LG Chem"s cathode plant in Tennessee. This multiyear deal enhances Exxon"s involvement in the domestic critical minerals supply chain and follows a similar agreement with SK On Co. in June.
Mike Wirth, CEO of Chevron, once celebrated for surpassing Exxon Mobil in market value, now faces significant challenges as Exxon reclaims its title with nearly double Chevron's market value. Amid a contentious arbitration battle and growing doubts about his leadership, Wirth is on a mission to revitalize confidence in Chevron's portfolio, declaring, “This is the comeback.”
Chevron reported third-quarter earnings of $4.49 billion, or $2.48 per share, down 31% year-over-year, but exceeded expectations with adjusted earnings of $2.51 per share and revenues of $50.67 billion. The company returned a record $7.7 billion to shareholders, including $4.7 billion in buybacks and $2.9 billion in dividends, while production rose 7% to 3.36 million oil-equivalent barrels per day. Chevron is also pursuing cost reductions and asset sales, amid uncertainties surrounding its $53 billion acquisition of Hess.
Exxon Mobil Corp. has finalized the sale of its Fos oil refinery in France to a consortium led by Trafigura Group, a move that reduces its European refining capacity to approximately 1.1 million barrels per day. This figure includes Exxon's stake in the Miro plant in Germany, which is also set for sale.
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exxon signs lithium supply deal with lg chem for battery production
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12:00 20.11.2024
Chevron's Mike Wirth seeks to regain Wall Street confidence by 2025
06:00 11.11.2024
Chevron surpasses earnings expectations while returning record cash to shareholders
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11:19 01.11.2024
exxon reduces european refining capacity with sale of fos refinery in france
11:18 01.11.2024
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