What's Going On With Exxon Mobil Shares Tuesday?
Portfolio Pulse from Lekha Gupta
Exxon Mobil Corporation (NYSE:XOM) and Shell PLC (NYSE:SHEL) subsidiaries agreed to sell a group of assets in the U.K. Southern North Sea to Viaro Energy. The assets include 11 operated offshore assets and one exploration field, producing around 28,000 boepd in 2023. This sale is part of a broader strategy for energy transition and aligns with Viaro's activities. Exxon also finalized a deal to sell its Malaysian oil and gas assets to Petronas.
July 30, 2024 | 6:50 pm
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POSITIVE IMPACT
iShares U.S. Energy ETF (IYE) provides exposure to Exxon Mobil (XOM) and Shell (SHEL), both of which are selling U.K. Southern North Sea assets to Viaro Energy. This move aligns with their energy transition strategies.
IYE's exposure to XOM and SHEL, both involved in significant asset sales, could positively impact the ETF's performance in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Shell PLC (SHEL) is selling its U.K. Southern North Sea assets to Viaro Energy, which produced around 28,000 boepd in 2023. This move is part of a broader strategy for energy transition and aligns with Viaro's activities.
The sale of assets aligns with Shell's strategy for energy transition and could positively impact its stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Energy Select Sector SPDR Fund (XLE) provides exposure to Exxon Mobil (XOM) and Shell (SHEL), both of which are selling U.K. Southern North Sea assets to Viaro Energy. This move aligns with their energy transition strategies.
XLE's exposure to XOM and SHEL, both involved in significant asset sales, could positively impact the ETF's performance in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Exxon Mobil Corporation (XOM) is selling its U.K. Southern North Sea assets to Viaro Energy, which produced around 28,000 boepd in 2023. This move is part of a broader strategy for energy transition and aligns with Viaro's activities. Exxon also finalized a deal to sell its Malaysian oil and gas assets to Petronas.
The sale of assets aligns with Exxon's strategy for energy transition and could positively impact its stock price in the short term. The finalized deal with Petronas further indicates a strategic shift.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100