ExxonMobil

IEEFA Research

IEEFA Investor Memo ExxonMobil (XOM): Company Is an ‘Outlier’ in How It Reports Write-offs on Canadian Oil Sands Assets

Loss Accounting ‘Largely Overlooked by Industry Analysts;’ Full Transparency Could Affect Balance Sheet by $22 Billion

April 17, 2017  (IEEFA.org) – The Institute for Energy Economics and Financial Analysis (IEEFA) today published an investor memo questioning whether ExxonMobil has appropriately accounted for its recent write-off of billions of barrels of Canadian oil sands assets. In “ExxonMobil Investment Note,” IEEFA outlines how ExxonMobil remains the exception in the oil industry in its […]

April 17, 2017 Read More →

IEEFA Exxon: Telltale Crossover in Late 2014 Marks Where a Major Oil Stock Began to Go South

A Decoupling From the Larger Stock Market 2 Years Ago Portends a Future in Which the World’s Biggest Oil Company Will Be Smaller and Will Not Pay Out as Much in Shareholder Distributions

The world is moving in fits and starts but with gathering momentum toward a more diversified, low-carbon energy mix. The evidence is all around us. One exhibit, of many, is in the report we published this week—“Red Flags on Exxon: A Note to Institutional Investors”—which includes the chart here: ExxonMobil Financial Performance, 2006 – 2015 […]

October 27, 2016 Read More →
IEEFA Report: Red Flags on ExxonMobil: Core Financials Show a Company in Decline

IEEFA Report: Red Flags on ExxonMobil: Core Financials Show a Company in Decline

Potentially Irreversible Slide; Falling Revenues, Rising Debt, Shrinking Capex, Weak Cash Balances Add to Growing Reputational Risk Tied to Climate-Change Controversy; ; Institutional Investors Owe Their Shareholders a Fiduciary Review

CLEVELAND, Oct. 26, 2016 (IEEFA.org) — The Institute for Energy Economics and Financial Analysis (IEEFA) published a report today that indicates deep financial weaknesses at ExxonMobil (XOM) and suggests the company is in potentially irreversible decline. The report—“Red Flags on ExxonMobil (XOM)”—by IEEFA Director of Finance Tom Sanzillo, cites key metrics that include a 45 […]

October 26, 2016 Read More →
Report: ‘A Constellation of Risks’: How Public Accountability Is Slowing Tar Sands Development

Report: ‘A Constellation of Risks’: How Public Accountability Is Slowing Tar Sands Development

Material Risks: How public accountability is slowing tar sands development (pdf) By: Tom Sanzillo (IEEFA), Lorne Stockman (Oil Change International), Deborah Rogers (Energy Policy Forum), Hannah McKinnon (Oil Change International), Elizabeth Bast (Oil Change International), and Steve Kretzmann (Oil Change International)

October 29, 2014 Read More →
Briefing note: Fossil fuels, energy transition, and risk

Briefing note: Fossil fuels, energy transition, and risk

Briefing note: Fossil fuels, energy transition, and risk (pdf) By Tim Buckley,  Director of Energy Resource Studies, Australasia, IEEFA

April 18, 2014 Read More →

More News and Commentary

‘What made Exxon special is fading’

Wall Street Journal: For decades it was the very model of a modern supermajor, but Exxon Mobil ’s edge over the rest of Big Oil is slipping and probably will continue to do so. In the past year, for example, Exxon’s shares have trailed those of each of its global peers—Shell, BP, Chevron and Total […]

July 30, 2018 Read More →

‘Exxon, once a “perfect machine,” is running dry’

Wall Street Journal: Exxon faces a number of challenges, including investigations of its accounting and tax practices as well as lawsuits by cities and states seeking funds to pay for the effects of climate change. Its biggest problem is one the giant has seldom faced in its 148-year history: It isn’t making as much money […]

July 16, 2018 Read More →
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IEFFA Update: Looking for innovation in the wrong place, ExxonMobil opens an energy-trading desk

As its core business falters, an oil major seeks speculation-driven profits

ExxonMobil is said to be seeking a much-needed lift through an initiative on which the company has issued no official detail but that will vastly expand its trading capabilities. Hopes are, evidently, that by opening a bigger energy-trading desk Exxon—through speculation—can reverse its trend over the past decade toward shrinking profits, a trend driven by […]

IEEFA update: Fund managers who acquiesce to ExxonMobil’s climate-risk denial do their investors a disservice
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IEEFA update: Fund managers who acquiesce to ExxonMobil’s climate-risk denial do their investors a disservice

New York state comptroller Thomas P. DiNapoli drops the ball

It was a failure of epic proportions when, after demanding but not getting action last year, most shareholders voted to re-elect ExxonMobil’s board of directors on May 30, abdicating their duty to hold the company to account. Sixty-two percent of shareholders in 2017 supported a resolution calling for ExxonMobil to improve its climate risk disclosures. […]

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IEEFA Update: As ExxonMobil Doubles Down on Oil and Gas, Investors Go Elsewhere

A Company With No Plan for a Less Carbon-Intensive World

Even with the recent rebound in oil prices that accelerated after President Trump announced the U.S. would re-impose sanctions against Iran, energy companies no longer dominate the stock market like they once did. In 1980, seven of the ten largest companies in the S&P 500 were oil companies. Today, ExxonMobil is the only remaining oil […]

Major Oil Companies Aren’t the Investment They Used to Be

Bloomberg: For generations of investors, ExxonMobil Corp. has been a cornerstone of fund managers’ portfolios alongside the biggest names in corporate America. Not so much anymore. From leading the S&P 500 Index a decade ago, the company has dropped to the ninth-largest in a top 10 now dominated by technology giants. Its rivals Royal Dutch Shell […]

April 25, 2018 Read More →

In Achieving 100% Renewable Energy Milestone at Offices, Stores and Data Centers, Apple Inc. Now Looks to Its Manufacturing Chain

Wall Street Journal: Apple Inc. said Monday that it has achieved a decade-old goal of having its facilities world-wide powered exclusively by renewable energy, an achievement that will shift the company’s sustainability efforts to its supply chain, where about 10% of suppliers have made a similar commitment. The tech giant said it has improved to […]

April 11, 2018 Read More →

In ‘Attack on Shareholder Rights,’ SEC Seeks to Sideline Activist Investors

Washington Post: Shareholders battling corporate management over everything from greenhouse gas emissions to discrimination to wasteful K-Cups are finding it more difficult to put their proposed proxy resolutions to votes as a result of new guidance issued by the Securities and Exchange Commission. The SEC has widened the definition of “micromanaging” and business relevance, and […]

April 9, 2018 Read More →

Big Investors Continue to Press for Climate-Risk Transparency Across Oil and Gas Industry

S&P Global Market Intelligence ($): Investors concerned about environmental issues hope big fund managers, such as Vanguard Group Inc. and BlackRock Inc., will continue to push oil and gas companies to make plans for a carbon-constrained future, even after a decision by SEC staff that has dampened the momentum of such shareholder motions. Sixteen oil […]

April 5, 2018 Read More →

ExxonMobil ‘in the Hot Seat’ Over Its Climate-Risk Nonchalance

Bloomberg News: Exxon Mobil Corp. is in the hot seat again over its reply to last year’s unprecedented investor drive for an analysis of how carbon curbs could affect the oil giant’s business over the long term. The leader of that drive, the New York State Common Retirement Fund, has sent Exxon a series of […]

April 4, 2018 Read More →