Exxon Mobil Corporation, one of the world's largest publicly traded energy providers and chemical manufacturers, reported its first-quarter results for 2024 on April 26, 2024. The company announced strong earnings of $8.2 billion and cash flow from operating activities amounting to $14.7 billion. Exxon Mobil achieved a gross production of over 600,000 oil-equivalent barrels per day in Guyana and made a final investment decision on the sixth major development in the region. The company also reported record first-quarter refining throughput and reduced operated methane emissions intensity by over 60% since 2016. Capital and exploration expenditures for the quarter were $5.8 billion, aligning with the full-year guidance of $23 billion to $25 billion. Exxon Mobil's strategy has been focused on creating value through growth in advantaged...Show More

Exxon Mobil Corporation, one of the world's largest publicly traded energy providers and chemical manufacturers, reported its first-quarter results for 2024 on April 26, 2024. The company announced strong earnings of $8.2 billion and cash flow from operating activities amounting to $14.7 billion. Exxon Mobil achieved a gross production of over 600,000 oil-equivalent barrels per day in Guyana and made a final investment decision on the sixth major development in the region. The company also reported record first-quarter refining throughput and reduced operated methane emissions intensity by over 60% since 2016. Capital and exploration expenditures for the quarter were $5.8 billion, aligning with the full-year guidance of $23 billion to $25 billion. Exxon Mobil's strategy has been focused on creating value through growth in advantaged assets, investments in higher-value products, and cost reduction. The company is also investing in technology to access new markets, including advanced recycling and carbon capture. The earnings for the first quarter of 2024 were lower compared to the first quarter of 2023, primarily due to decreased industry refining margins and natural gas prices. However, the company's structural cost savings and strong volume growth in Guyana helped offset these effects. Exxon Mobil declared a second-quarter dividend of $0.95 per share, to be paid on June 10, 2024, and announced an increase in the annual pace of share repurchases to $20 billion per year post the completion of the Pioneer Natural Resources transaction.