ExxonMobil reported nearly $14 billion in upstream profits for Q2, a strong performance compared to $36 billion for the entire fiscal year 2022. This improvement is attributed to cost-cutting measures and growth in advantaged assets, which have enhanced profitability. The upstream segment remains the main earnings driver, supported by robust commodity prices that help generate strong free cash flow. However, political risks could limit industry valuations or future profits.
ExxonMobil reported robust Q2 2026 results with $114.5 billion in revenue and $14.5 billion net profit, reflecting strong cash flow and operational resilience. Despite these solid financials, the stock price remained flat as investors remain cautious...
Phillips 66 announced it is now the world's third-largest buyer of Venezuelan crude oil, expanding its fleet and benefiting from Jones Act waivers issued by the Trump administration. This move is part of a strategy to secure discounted heavy crude gr...
