Article**: New Chemical Materials***
On December 15, it was reported by PlastEurope that ExxonMobil had announcedStopFrancenotre-dame-de-gr**enchonOperation of production facilitiesSince the company began a burning campaign there on December 11, the shutdown may includePyrolysis unit
The core energy business is betting heavily!
Pyrolysis unitIt is the beginning of the chemical industry and the key to determining the extension of energy resources to the downstream chemical industry chain. Combined with previous reports on new chemical materials, ExxonMobil's suspected shutdown of the cracker may have a lot to do with its core business in energy.
As the world's largest non-** oil and gas producer, Exxon's total in October this year$59.5 billion "**" acquisitionThe "era of big takeovers" in the oil industry is ushered in, and the biggest acquisition by Exxon since 1998 is widely expected to fuel a wave of mergers and acquisitions in the U.S. oil and gas industry
October 23, the U.S. energy sectorThe second large M&A order appeared:The second-largest oil and gas producer in the United StatesChevronThe company announced that it will use:$53 billion full-** deal to acquire Hess, the fourth-largest oil company in the United States
On December 11, the U.S. energy sectorThe third blockbuster deal appeared:Occidental PetroleumAnnounced that it has completed an acquisition agreement to acquire US shale oil producer Crownrock for $12 billion to expand its control over the largest shale oil field in the United States. The acquisition is expected to close in the first quarter of 2024.
On December 13, Warren Buffett's Berkshire Hathaway spent about 5US$88.7 billion (about 4.2 billion yuan) acquired nearly 10.5 million shares of Occidental Petroleum Corporation**.
The above three mergers and acquisitions, as well as Warren Buffett's blessing, mean that the US oil giants, represented by Exxon, are still betting heavily and firmly believe that oil and gas will remain the core of the global energy world for decades to come.
Exxon's ** era is coming?
When it comes to the profit prospects of large multinational energy companies like ExxonMobil, ** is more important than anything else. Today, the price of a barrel of WTI** is still about the same as it was a year ago, and OPEC's production cuts have played an important role in stabilizing the price.
In fact, Riyadh and Moscow recently announced that they would extend the voluntary oil ** cut of about 1.3 million barrels per day that was due to expire this summer. This, of course, has raised fears that a shortage in the oil market will lead to lower inventory levels, with the IEA warning that OPEC production cuts are "plunging the world oil market into a deep deficit." Driven by OPEC, ExxonMobil faces a stronger earnings outlook. To date, oil prices can be said to be a significant catalyst for the sequential growth of Exxon's third-quarter profits, which reported $6.1 billion in upstream profits in the third quarter of 2023, an increase of $1.5 billion from the previous quarter and a 94% increase in sequential profits. On the side, hedges and other alternative asset managers have recognised the supply-demand imbalance in the oil market and are betting that it will continue, adding to the momentum.
In addition, Exxon is also actively deploying in the field of new energy.