ExxonMobil

IEEFA Research

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 […]

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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 […]

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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)

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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

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More News and Commentary

ExxonMobil’s Many Woes

Bradley Olson for the Wall Street Journal: Exxon Mobil Corp. said Tuesday it wrote down the value of more than $2 billion in U.S. assets, departing from decades-long practice amid an investigation by securities regulators, as the world’s largest publicly traded oil company posted its lowest yearly earnings in 20 years. The move follows an […]

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IEEFA Update: Exxon Trouble

More Stranded Assets Loom as Market Shift Continues

In writing off a couple of billion dollars of difficult-to-tap Rocky Mountain gas holdings, ExxonMobil this morning is diverting attention from key bigger-picture truths. More write-downs loom, and will probably come sooner than later, including on the company’s 4.6 billion barrels of sand-locked oil in Canada. We expect that particular chunk of the ExxonMobil stranded-asset portfolio […]

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Another Dismal Earnings Report for Exxon

Joe Carroll for Bloomberg News: After resisting the industry trend of discounting the value of oil and natural gas fields that turned into money-losers amid the 2 1/2-year market slump, Exxon capitulated on Tuesday and took a $2 billion hit on the value of some Rocky Mountain gas. For Exxon, it was the ninth straight […]

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The 21st Century Is Conspiring Against Old Energy Companies Like Exxon

Steve LeVine for Quartz: Never mind possible disruptions from a change in social tastes. Exxon is doubling down on tradition, with a zeal that harkens back to a time when oil was the undisputed commodity of the moment and the future. Yet, notwithstanding these blockbuster discoveries, Exxon has been struggling. The strains include the most […]

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IEEFA Energy Swamp Watch: An Oil-Industry Bailout Is in the Works in Washington

Rex Tillerson’s Objective as Head of U.S. Foreign Policy Would Be to Orchestrate a Worldwide Price Increase

Rex Tillerson, after 10 years at the helm of ExxonMobil, is leaving behind a company with much lower revenues than when he took over, higher long-term debt, lower payouts to shareholders and declining cash reserves. ExxonMobil during Tillerson’s tenure has also had to scale back its oil-reserve numbers as a prolonged oil price decline has […]

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Oil Industry Begins to Acknowledge Peak Oil

Sarah Kent and Brian Spegele for the Wall Street Journal: This month, European oil company MOL Group delivered a stark message to investors: Demand for fuel in its key markets is bound to fall. So-called peak oil demand is a mind-bending scenario that global producers such as Royal Dutch Shell PLC and state-owned Saudi Aramco […]

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‘Oil Companies Incensed by the Idea That They May Be the Next Lehman Brothers’

From The Economist: Oil companies have been incensed by the idea that they may be the next Lehman Brothers. Ben van Beurden, chief executive of Royal Dutch Shell, talks of financial regulators trying to “weaponise financial markets against oil and gas”. Patrick Pouyanné, the boss of Total, has urged Mr Carney to “take care of […]

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Exxon’s Accounting Problem

John H. Cushman Jr. for InsideClimate News: When Eric Schneiderman, the attorney general of New York, demanded to see documents from ExxonMobil’s accountants as part of his probe into the company’s record on climate change, he was after more than a dollars-and-cents perspective on the oil giant’s books. The accountants, PriceWaterhouseCooper, are also experts in […]

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Exxon’s Climate-Risk Obfuscation, Updated

David Kaiser and Lee Wasserman for The New York Review of Books: When Exxon began to “emphasize the uncertainty” of climate science, the scientists who espoused its positions were often veterans of those earlier denial campaigns. Among them were Fred Seitz, Fred Singer, Robert Jastrow, and Bill Nierenberg. They had all been reputable, prominent physicists […]

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Class-Action Lawsuit Accuses Exxon of Deceiving Investors on Stated Reserves

David Hasemyer for InsideClimate News: ExxonMobil shareholders have filed a class-action lawsuit against the company, alleging it misled its investors and the public by failing to disclose the risks posed to its business by climate change. The alleged deception resulted in stockholders paying inflated prices for Exxon stock and subjected them to financial losses because […]

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