ExxonMobil and Area 4 partners award $1.1 billion in contracts for Mozambique’s Rovuma LNG project ahead of final investment decision

Shell (NYSE:SHEL) may sell its U.S. chemicals business for up to $8B, with ExxonMobil (XOM) and LyondellBasell (LYB) among potential buyers. The sale aligns with CEO Wael Sawan's strategy to focus on higher-return sectors like oil, gas, and LNG. Shell's Q2 2026 net profit was $9.84B, with net debt at $41.8B. The move could reinforce Shell's focus but risks undervaluing long-term chemicals demand.

ExxonMobil (XOM) is among four bidders for Shell's (SHEL) U.S. chemical plants, with potential bids up to $8 billion. The assets, including plants in Louisiana, Texas, and Pennsylvania, are being sold due to underperformance and a cyclical downturn. A successful bid would expand Exxon's petrochemical footprint and diversify its portfolio, potentially enhancing long-term earnings.

ExxonMobil plans to automate 25% of its Permian rigs by 2024 and 50% by 2028, aiming to increase efficiency and lower costs. This could benefit Exxon's cash flow but may pressure oilfield-service pricing and utilization, potentially widening the gap between producer and service stocks.

ExxonMobil and Community Coffee plan to invest over $300 million in West Baton Rouge Parish. ExxonMobil's $257.5 million Project Holly will build a new resin manufacturing facility, creating 15 permanent and 50 construction jobs. Community Coffee's $50.8 million Project Fusion will construct a new coffee processing facility. Both projects are expected to generate $34 million in tax revenue over 20 years, according to Parish President Jason Manola.

ExxonMobil Guyana, with partners Hess and CNOOC, received the Errea Wittu FPSO from MODEC for the Uaru field in Guyana. The vessel will produce 250,000 b/d of oil and 540 MMcfd of gas, with advanced features for efficiency and emissions reduction. First oil is expected after final preparations. ExxonMobil holds a 45% stake in the project.

ExxonMobil (XOM) and Chevron (CVX) reported strong Q2 earnings, with Chevron reporting $67.20B revenue and a record production, while ExxonMobil posted $14.5B earnings despite production disruptions. Over a decade, Chevron's dividend yield (3.39%) is higher than ExxonMobil's (2.46%), but ExxonMobil has a longer streak of consecutive annual raises (43 years). Chevron's Microsoft deal adds a new revenue stream. Investors must decide between ExxonMobil's durability and Chevron's higher yield.