Exxon Mobil Awards Contract for Largest Low-Carbon Hydrogen Project in the World at Planned Startup in 2027-28.

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Exxon Mobil ($NYSE:XOM) Corporation is a leading global oil and gas company that engages in exploration, production, and refining of crude oil and natural gas. It is one of the world’s largest publicly traded companies and is listed on the New York Stock Exchange and other exchanges. On Monday, Exxon Mobil announced that Technip Energies had been awarded the contract for the next phase of front-end engineering and design of its ambitious low-carbon hydrogen project in Texas. The details of the contract were not disclosed. It is estimated that the project will produce 1B cf/day of low-carbon hydrogen and permanently bury approximately 7M metric tons/year of associated CO2 underground. The project is part of ExxonMobil’s commitment to reduce the carbon intensity of its operations by reducing emissions from its upstream and downstream operations. This project will be a major step in meeting that goal and will help to reduce emissions from industries that rely on hydrogen for production. The project is expected to create jobs in the region, reduce emissions, and support economic growth. ExxonMobil is also investing in other technologies to reduce emissions. It has invested in carbon capture and storage projects, including carbon capture technology in Canada, a carbon capture project in Qatar, and a carbon capture project at its Baytown refinery in Texas.

In addition, it has invested in advanced biofuels, such as algae-based fuels, to help reduce emissions. ExxonMobil is committed to reducing emissions and investing in technologies that will help to reduce emissions. Its low-carbon hydrogen project in Texas is a major step towards meeting its goals and will help to reduce emissions from industries that rely on hydrogen for production. The project is expected to create jobs in the region and help support economic growth.

Market Price

This news has been met with positive sentiment from the industry, with many people excited for the potential of this project and the benefits it will bring. At the time of writing, ExxonMobil’s stock opened at $115.1 and closed at $113.6, down by 1.8% from its previous closing price of 115.6. While this is not a huge drop, it is still indicative of the market’s uncertainty surrounding the project and its potential outcomes. ExxonMobil’s project will be one of the first of its kind, making it both an exciting and uncertain endeavor. This project could potentially revolutionize the energy industry, but there are still many unknowns. It is unclear how much the project will cost and whether or not it will be successful.

However, despite the market’s uncertainty, ExxonMobil is confident in the potential of its project and is taking a major step forward in the fight to reduce carbon emissions. This project could be a major step forward in transitioning the energy industry away from fossil fuels and towards renewable sources, something that is necessary to combat climate change. Live Quote…

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VI Analysis

The VI App is a great tool for analyzing EXXON MOBIL‘s fundamentals, which can provide insight into the company’s long-term potential. Using the VI Risk Rating, EXXON MOBIL is determined to be a low risk investment based on its financial and business aspects. This makes it an attractive option for those looking to diversify their portfolio and invest in a reliable company. The VI App can also detect any potential risk warnings in the income sheet and balance sheet of EXXON MOBIL so users can make an informed decision. The app provides detailed analysis of the company’s financial health, which can help investors decide whether or not it is a good choice for them. Furthermore, the VI App also provides forecasts and recommendations on EXXON MOBIL’s stock performance and future trends. This can help investors make decisions based on current market conditions and the company’s future prospects. Overall, the VI App is an excellent tool for assessing EXXON MOBIL’s financial and business fundamentals. It allows investors to make informed decisions and helps them determine their level of risk when investing in the company. For those who want to get access to this valuable information, they can register on vi.app to get started. More…

VI Peers

The oil and gas industry is a highly competitive sector. The largest oil companies in the world, Exxon Mobil Corp, Chevron Corp, BP PLC, and Hess Corp, are all vying for market share. These companies have different strengths and weaknesses, and each is trying to outmaneuver the others in order to gain an advantage.

– Chevron Corp ($NYSE:CVX)

Chevron is an American energy company with a market cap of 313.46B as of 2022. Chevron is engaged in every aspect of the oil, natural gas, and geothermal energy industries, including exploration, production, refining, marketing, and transportation. Chevron also has interests in chemicals, mining, and power generation. Chevron’s return on equity was 16.97% as of 2022.

– BP PLC ($LSE:BP.)

HSBC Holdings plc is a British multinational banking and financial services holding company headquartered in London, United Kingdom. It is the world’s fourth-largest bank by total assets and the largest in Europe with total assets of US$2.374 trillion. HSBC traces its origin to a hong in Hong Kong, and its present form was established in London by the Hongkong and Shanghai Banking Corporation to act as a new group holding company in 1991. The last surviving member of the Hong Kong banking conglomerate, The Hongkong and Shanghai Banking Corporation Limited, was renamed HSBC Holdings plc in May 1999.

As of March 2018, HSBC is organized into four business groups: Commercial Banking, Global Banking and Markets, Retail Banking and Wealth Management, and HSBC Holdings. HSBC has a dual primary listing on the Hong Kong Stock Exchange and London Stock Exchange, and is a constituent of the Hang Seng Index and the UK FTSE 100 Index. As of 6 July 2012, it had a market capitalization of £102.7 billion, the second-largest company listed on the London Stock Exchange, after Royal Dutch Shell. It has secondary listings on the New York Stock Exchange, Euronext Paris, and the Bermuda Stock Exchange.

In 2015, HSBC was investigated by the US Senate for allegedly facilitating money laundering for drug cartels and terrorist groups. The allegations date back to 2002 and HSBC’s involvement with Mexican drug lord Osiel Cárdenas Guillén. On 11 December 2015, HSBC agreed to pay US$1.256 billion to settle the charges.

– Hess Corp ($NYSE:HES)

Hess is a leading international independent energy company engaged in the exploration and production of crude oil and natural gas. Hess has a market cap of $37.9 billion as of 2022 and a return on equity of 29.47%. The company has a long history of success in the oil and gas industry, and its operations are primarily focused in the United States, the United Kingdom, Norway, Denmark, Malaysia, and Indonesia. Hess is committed to providing its shareholders with value through a combination of strong operating performance, disciplined capital management, and a commitment to sustainable development.

Summary

Exxon Mobil is a major player in the energy industry and is now investing in the world’s largest low-carbon hydrogen project. This project is set to start up in 2027-28 and has been met with largely positive sentiment. For investors, this could present an opportunity to capitalize on Exxon Mobil’s long-term growth.

While short-term investments may be risky, Exxon Mobil’s commitment to sustainability and future energy sources could provide substantial returns over the long term. Investors should conduct their own due diligence before making any decisions.