From Yahoo Finance: 2025-05-02 14:52:00

U.S. Big Oil giants Exxon Mobil and Chevron plan to maintain spending and stock buyback plans despite lower oil prices and declining quarterly earnings. While European counterparts like Shell and BP are scaling back buybacks, Exxon is starting up new projects. Chevron is confident in its pending deal with Hess, despite arbitration with Exxon. Both companies remain undeterred by tariffs and oil price uncertainty. Chevron is considering acquiring Phillips 66’s stake in their joint venture. The companies are also investing heavily in Kazakhstan’s Tengiz oilfield and maintaining relationships with OPEC allies. Exxon and Chevron reported earnings, with Chevron’s stock rising and Exxon’s holding steady. Shell saw a stock jump and is focusing on buybacks over big deals.



Read more at Yahoo Finance: Exxon and Chevron hold the line against tariffs, OPEC, and plunging oil prices