Yellowtail production ramp-up expected before year-end

ExxonMobil (XOM) is nearing a deal to explore oil fields in Venezuela, 19 years after nationalization. Shares are near $163.54, up 37% in 2026. The deal is preliminary, with no terms or timing confirmed. Analysts see a mid-target price of ~$170, with a potential total return of ~4%.

ExxonMobil (XOM) shares fell 3.2% as crude oil prices dropped below $98 per barrel, driven by hopes of a diplomatic resolution in the Middle East. RBC Capital maintained a Sector Perform rating and $180 price target, citing valuation concerns and bearish technical signals. The broader market rose, with the Nasdaq up 1.9%.

ExxonMobil (XOM) is expanding its carbon capture and storage (CCS) business, aiming to handle up to 100 million metric tons of CO2 annually. The company has partnerships with Linde, Nucor, and others, and Texas regulators approved its Rose CCS project. XOM's shares rose 46% over the past year, trading at a 12-month EV/EBITDA of 9.13X. Occidental Petroleum (OXY) and Baker Hughes (BKR) are also advancing carbon capture technologies.

ExxonMobil (XOM) shares fell 2.7% to $159.13 on Monday due to a 2% drop in crude oil prices, with WTI at $98.34 and Brent at $101.75. The decline follows stable Saudi export volumes despite geopolitical tensions. RBC Capital reaffirmed a $180 price target, citing strong refining operations.

Tanzania's $42 billion LNG project, involving Equinor, ExxonMobil, and Shell, is nearing a Final Investment Decision (FID) within weeks, according to industry sources. The project aims to develop offshore gas reserves and position Tanzania as an LNG exporter to European and Asian markets. Progress on commercial terms and tax framework has cleared major hurdles, with binding contracts remaining.

ExxonMobil (XOM) is in preliminary talks with Venezuela's PDVSA to return after nearly two decades, focusing on the Petromonagas project. The move aligns with U.S. efforts to revive Venezuela's oil industry, offering Exxon access to vast resources. However, political and regulatory risks, along with aging infrastructure, pose significant challenges. XOM's stake among hedge funds increased in Q2 2026, but their cumulative value declined.