What's Going On With ExxonMobil Stock Tuesday? - ExxonMobil Holdings (NYSE:XOM)

ExxonMobil Moçambique contracted SLB OneSubsea for subsea production systems in Phase 1 of the Area 4 Mozambique LNG project, covering trees, manifolds, and control systems. Partners include ENH, CNPC, Eni, KOGAS, and XRG. SLB will establish a regional service base in Mozambique. The contract is a key step in developing the project's offshore gas resources.

ExxonMobil (XOM) shares fell 0.35% to $161.95 on Tuesday. TD Cowen raised its price target to $180, citing strong refining margins and expected Q3 earnings beat. Analysts note upstream earnings may decline due to lower commodity prices, but downstream gains could offset this. ExxonMobil is a major holding in several ETFs, including WR, HDV, and IGE. On Monday, XOM shares dropped 2.70% following a 2% decline in oil prices.

ExxonMobil chose SLB's OneSubsea for subsea production systems in Mozambique's Rovuma LNG project, a key step before final investment. The $1.1B contract includes equipment and services, with local support planned. The project aims for 18.6M tonnes of LNG annually, with potential expansion to 40M.

SLB's OneSubsea joint venture won a contract from ExxonMobil for subsea systems in Mozambique's Rovuma LNG project. The deal covers equipment and services for deepwater production. OneSubsea will set up a local service base, supporting regional operations and employment. The project involves multiple partners, including Eni and CNPC. According to SLB, the award highlights their ability to deliver integrated subsea solutions.

SLB OneSubsea, a joint venture backed by SLB (NYSE: SLB), has been awarded a contract by ExxonMobil Moçambique, Limitada for subsea production systems for the Rovuma LNG project in Mozambique. The contract includes equipment and services for deepwater production, with SLB OneSubsea planning to establish a local base. The project involves multiple partners, including ENH, CNPC, ENI, KOGAS, and XRG.

SOCAR, a state-owned oil company, signed agreements with ExxonMobil, Comstock Resources, Apollo, and others. ExxonMobil will operate a 50% stake in Azerbaijan's Middle Kura Basin. Comstock could receive $1.65B from SOCAR for U.S. Haynesville shale assets. TotalEnergies, SOCAR, and ADNOC finalized the Absheron gas field development, targeting 2029 production.