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

A Growing Consensus That Peak Oil Demand Is in Sight

Wall Street Journal: The world’s largest oil companies are girding for the biggest shift in energy consumption since the Industrial Revolution: After decades of growth, global demand for oil is poised to peak and fall in the coming years. New technologies that improve fuel efficiency are starting to push down the amount of gasoline and […]

May 22, 2017 Read More →

On the Blogs: ‘Big Oil Is Getting Smaller’

Climate News Network: Big oil is getting smaller. Many of the oil services companies that are employed when new fields are being developed have been laying off workers, and oil companies have been writing down their assets. The problem is the persistent low price of oil. Despite the best efforts of OPEC, the organisation representing the […]

May 17, 2017 Read More →

U.S. Rejects Exxon Play for a Waiver to Do a Deal With Russia

Wall Street Journal: The announcement Friday comes as the White House pushes to firm up the president’s foreign-policy and domestic agenda as he nears his 100th day in office next week. Mr. Trump’s decision to block Exxon Mobil, until the end of last year headed by Secretary of State Rex Tillerson, also shows how efforts […]

April 24, 2017 Read More →

IEEFA Update: Exxon Sends Investors Down a Russian Rabbit Hole

Well-Timed Ploy to Divert Attention From Balance-Sheet Rot Eating Away at World’s Biggest Oil Company; Public Relations Plum for Putin; Another Blow to Shareholders

News comes today that ExxonMobil is applying for a U.S. government waiver on sanctions against the Kremlin that are keeping the company from developing new oil reserves in Russia. The sanctions in question, imposed in response to Russia’s annexation of Crimea in 2014, specifically forbid U.S. corporate deals with Rosneft and specifically named the head of the […]

April 20, 2017 Read More →

Changing Energy Markets Mean Trouble for ExxonMobil Finances

Public News Service (Virginia): Oil giant ExxonMobil is in a sharp decline that some are calling irreversible – in part due to deep changes in world energy markets. Once among the largest companies in the world, Exxon’s revenue peaked at nearly $500 billion, but last year, it was less than half that. Tom Sanzillo, director […]

April 20, 2017 Read More →

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 →

Oil Majors Are Struggling to Break Even

Wall Street Journal: The world’s biggest oil companies are struggling just to break even. Despite billions of dollars in spending cuts and a modest oil-price rebound, Exxon Mobil Corp. , Royal Dutch Shell PLC, Chevron Corp. and BP PLC didn’t make enough money in 2016 to cover their costs, according to a Wall Street Journal […]

April 3, 2017 Read More →

The Exxon Email Trail

Associated Press: Democratic Massachusetts Attorney General Maura Healey is asking Exxon Mobil to preserve all alias email accounts of company executives. Massachusetts and New York are investigating whether Exxon misled investors and the public about the risks climate change posed for the oil and gas company. Monday’s letter comes after it was disclosed former Exxon […]

March 21, 2017 Read More →

Exxon’s Latest Headline-Risk Wrinkle: Rex Tillerson’s Secret Emails

InsideClimate News: While he was chief executive of ExxonMobil, current secretary of state Rex Tillerson used an alias email account for eight years to discuss climate change and the risks it posed to the company’s business, according to investigators for New York Attorney General Eric Schneiderman. Those investigators say the company concealed the shadow emails […]

March 14, 2017 Read More →
IEEFA Exxon: White House’s Endorsement Is Just More Evidence of Distress

IEEFA Exxon: White House’s Endorsement Is Just More Evidence of Distress

Stock Hits 52-Week Low; Turnaround Plan Is Questionable; Buyers Beware

ExxonMobil’s deteriorating financial condition is on full view today after its stock opened at a 52-week low on news of lower oil prices. Investors, it’s safe to say, have met the company’s recent announcement of new capital investment with skepticism. ExxonMobil’s stock has now fallen by 15 percent just since this past December, a period in […]

March 9, 2017 Read More →