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MarketScreener Homepage  >  Equities  >  Nyse  >  Exxon Mobil Corporation    XOM

EXXON MOBIL CORPORATION

(XOM)
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Demand firms as OPEC+ meeting looms, Angolan sells

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06/06/2020 | 04:42am EDT

Angolan crude continued to sell well and traders said interest in Nigerian crude was set to rise as the country faces pressure from fellow producers to rein in output.

* Angola has cut the number of oil cargoes that it will ship to Chinese state firms to pay down debt to Beijing as it seeks to renegotiate repayment terms, sources said.

* Therefore China's Unipec had no cargoes assigned to it in July, down from the usual two or three.

* Angola's Sonangol was thus in possession of 8 cargoes, three of which it recently assigned: a cargo of Cabinda to India's IOC, CLOV to Galp and Nemba to India's MRPL.

* A cargo of Dalia sold recently, likely by Exxon Mobil for export on July 6-7. Last offered at dated brent plus $1.30, another cargo of Dalia set for export in the last part of July was being offered for slightly higher.

* Differentials for heavier oil from Angola and Congo remained strong as certain heavier oils were less abundant due to OPEC+ cuts, despite a slight waning in Chinese buying.

* Northwest European gasoline stocks rose this week, signalling a continuation of poor demand ahead for light Nigerian oil.

* But a trader said pressure from OPEC+ on Nigeria to cut its output could encourage demand for its oil which is already on the market in vast volumes.

* Results had not yet emerged for two IOC tenders which were set to close on Friday.

RELATED NEWS

* British oil major BP has agreed to discount the price of the North Sea assets it is selling to Premier Oil, Premier said on Friday.

* OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs.

(Reporting by Noah Browning; editing by Philippa Fletcher)

Stocks mentioned in the article
ChangeLast1st jan.
EXXON MOBIL CORPORATION 8.11% 53.08 Delayed Quote.-29.64%
LONDON BRENT OIL 5.12% 41.86 Delayed Quote.-39.58%
PREMIER OIL PLC 25.22% 39.15 Delayed Quote.-59.45%
US DOLLAR / RUSSIAN ROUBLE (USD/RUB) -0.25% 68.681 Delayed Quote.11.55%
WTI 5.07% 39.065 Delayed Quote.-39.42%
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Financials (USD)
Sales 2020 173 B - -
Net income 2020 -4 676 M - -
Net Debt 2020 59 122 M - -
P/E ratio 2020 -46,2x
Yield 2020 6,57%
Capitalization 224 B 224 B -
EV / Sales 2019
EV / Sales 2020 1,64x
Nbr of Employees 74 900
Free-Float 52,7%
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Technical analysis trends EXXON MOBIL CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 24
Average target price 48,57 $
Last Close Price 53,08 $
Spread / Highest target 39,4%
Spread / Average Target -8,49%
Spread / Lowest Target -35,9%
EPS Revisions
Managers
NameTitle
Darren W. Woods Chairman & Chief Executive Officer
Andrew P. Swiger Chief Financial Officer & Senior VP
Samuel J. Palmisano Independent Director
Steven S. Reinemund Independent Director
Kenneth C. Frazier Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
EXXON MOBIL CORPORATION-29.64%224 433
RELIANCE INDUSTRIES LTD4.47%124 055
BP PLC-23.19%92 729
CHINA PETROLEUM & CHEMICAL CORPORATION-23.45%68 885
PHILLIPS 66-21.55%38 165
PTT-10.23%35 805