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

📆 6-10-2023 03:28:00

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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

📆 6-10-2023 03:28:00
📰 globeandmail

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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

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