News Formal

Exxon Mobil in advanced talks for $60-billion acquisition of Pioneer, sources say

  • 📰 globeandmail
  • ⏱ Reading Time:
  • 14 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 92%

Australia News News

Australia Australia Latest News,Australia Australia Headlines

Exxon, which is valued at about $436 billion, last year earned a record $55.7 billion on sky high oil and gas prices and ended the year with $29.6 billion in cash and equivalents

Some of those record profits have tapered off this year as commodity prices, which surged after Russia’s invasion of Ukraine, have fallen over concerns about future demand at a time when high inflation has weighed on consumer spending.

On Wednesday, Exxon said big increases in oil, gas and fuel prices would deliver a third-quarter operating profit between $8.3 billion and $11.4 billion, below the year ago’s record earnings but up from its second quarter.Tickers mentioned in this story

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in AU

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Exxon Mobil in advanced talks for $60 billion acquisition of Pioneer\u002DsourcesExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »