Exxon Drops as Oil Retreats From $94
GuruFocus·- Exxon Mobil shares dropped 1.3 % to $ 162.97 Monday afternoon as crude oil prices retreated more than 2 %. - Despite strong financial performance with 2nd-quarter operating cash flow of $ 23.6 billion, the stock's valuation sits 29.24 % above its $ 126.10 GF Value estimate. - While the company can absorb market selloffs effectively, ongoing geopolitical tensions and fluctuating supply outlooks continue to impact its share price.Report: Shell PLC Mulls Sale of USD8 billion US Chemical Assets
AASTOCKS News·- Shell PLC is reportedly considering the sale of its US chemical assets, which are potentially valued at up to USD 8 billion. - Potential buyers, including ExxonMobil, LyondellBasell, Apollo Global Management, and Kuwait Petroleum Corporation's chemicals division, submitted non-binding indicative bids last month. - The divestment is part of Shell PLC's broader strategy to sell underperforming businesses, with assets spanning four sites in Louisiana, Texas, and Pennsylvania.Shell Could Get $8 Billion for U.S. Chemicals Assets as It Draws Interested Parties, FT Says, Citing Sources
MorningStar·- Shell has received expressions of interest from multiple companies, including Exxon and Apollo, regarding its U.S. chemicals assets. - The British energy major could potentially generate 8 billion dollars from the sale of these assets, which may be sold together or separately. - Representatives from Shell, Exxon, and Apollo declined to comment on the matter.MODEC says FPSO Errea Wittu arrives in Guyana for ExxonMobil project
PUBT·- MODEC announced the arrival of the FPSO Errea Wittu in Guyana for ExxonMobil's Stabroek Block Uaru development. - The vessel features a storage capacity of about 2 million barrels and incorporates a gas turbine combined cycle system to reduce CO2 emissions. - MODEC will provide ongoing operations and maintenance services as the vessel undergoes offshore commissioning ahead of first oil.