ExxonMobil Guyana receives Errea Wittu FPSO at Uaru field

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 and partners awarded $1.1B in contracts for Mozambique's Rovuma LNG project, including subsea systems and piping, before a final investment decision. The project aims for 18.6M metric tons per year. XRG PJSC, Abu Dhabi's investment arm, joined the investor group in 2025. A final investment decision is targeted for 2026, with construction dependent on regional conditions.

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 (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.