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Explain this story: Exxon, Suncor Bid to Block Climate Suits at US Supreme Court (1)
Exxon Mobil Corp. and Suncor Energy Inc. are petitioning the US Supreme Court to dismiss a climate change lawsuit filed by the city and county of Boulder, a case that could impact dozens of similar actions across the country. The oil companies argue that climate change is a global issue beyond the scope of state-level litigation and that federal law, specifically the Clean Air Act, should govern such matters. The Justice Department supports the companies' position, while environmental groups and local governments contend that states should be able to protect their citizens from in-state harms under traditional tort doctrines.
OtherBloomberg Law NewsSector and industry: EnergyOil & Gas IntegratedTell me moreShow less
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Exxon Mobil Corp. and Suncor Energy Inc. are petitioning the US Supreme Court to dismiss a climate change lawsuit filed by the city and county of Boulder, a case that could impact dozens of similar actions across the country. The oil companies argue that climate change is a global issue beyond the scope of state-level litigation and that federal law, specifically the Clean Air Act, should govern such matters. The Justice Department supports the companies' position, while environmental groups and local governments contend that states should be able to protect their citizens from in-state harms under traditional tort doctrines.
ImportantXOM
Explain this story: Liberty Global PLC Class C stock hits 52-week low at 8.93 USD
Liberty Global PLC Class C stock has fallen to a new 52-week low of $8.93, trading just 1% above its lowest point. The stock has seen a 23.72% decline over the past year, with its RSI indicating oversold conditions. Despite the downturn, InvestingPro analysis suggests the stock may be undervalued, trading at a low Price/Book multiple of 0.34, and the company is undertaking significant cost-cutting measures at Virgin Media O2 to address debt and improve financial standing.
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Company newsXOM
Explain this story: Tsakos Energy Navigation at Lytham Partners: tanker tightness lifts outlook By Investing.com
Tsakos Energy Navigation (TEN) reported strong earnings and cash flow, benefiting from a tight tanker market and robust demand, with second-quarter earnings surging 557%. The company emphasized its strategic position with 80% of its fleet under long-term contracts and a modern, diversified fleet, expecting favorable conditions to persist for several years despite potential moderation in current peak spot rates. TEN also highlighted its growing shuttle tanker business in deep-water regions, which is contributing significantly to profitability.
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ImportantXOM
Explain this story: Weyerhaeuser stock hits 52-week low at 19.6 USD By Investing.com
Weyerhaeuser stock has fallen to a 52-week low of $19.60, representing a 20.77% decrease over the past year. Despite this decline and market challenges, InvestingPro analysis suggests the stock is undervalued with a 4.3% dividend yield and a 0.42 PEG ratio. The company recently reported better-than-expected Q2 results, driven by improved lumber pricing and strong wood products performance, leading Truist Securities to raise its price target to $28.
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ImportantXOM
Explain this story: Exxon veteran Liam Mallon joins TMC board ahead of seabed mining push
The Metals Company (TMC) has appointed Liam Mallon, a former ExxonMobil upstream chief, to its board. This move comes as TMC advances plans for commercial recovery of polymetallic nodules from international waters, with the Trump administration signaling nearing approval for deep-sea mining permits. Mallon will also chair TMC's Sustainability and Innovation Committee.
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Company newsXOM
Explain this story: With Gas at $4.48 a Gallon, Here's How Much ExxonMobil Stock You Need to Buy to Fill Up Your Tank
This article by The Motley Fool details how much ExxonMobil stock an investor would need to own to cover the cost of filling a 14-gallon gas tank through dividends, given the national average gas price of $4.48 per gallon and ExxonMobil's 2.54% dividend. It also discusses using capital appreciation from oil stocks as a hedge against rising fuel prices. The author notes that while dividends alone might require significant capital, stock appreciation can offer an alternative way to offset fuel costs.
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ImportantSLB
Explain this story: ExxonMobil awards SLB OneSubsea contract for Area 4 deepwater Mozambique LNG project
SLB OneSubsea has been awarded a contract by ExxonMobil to supply subsea production systems for the first phase of the Area 4 offshore Rovuma LNG development in Mozambique. This contract marks a significant step for the Area 4 project, which aims to develop deepwater gas fields in the Rovuma Basin. SLB OneSubsea will also establish a local services base to support the project and foster regional supply chain development and employment opportunities.
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Company newsEOG
Explain this story: EOG Resources (NYSE:EOG) COO Sells $1,270,973.79 in Stock
EOG Resources COO Jeffrey Leitzell sold 9,039 shares of the company's stock for over $1.27 million under a pre-arranged trading plan, reducing his direct stake by 9.05%. Despite the insider sale, EOG Resources recently reported strong quarterly earnings and revenue that exceeded analyst expectations and declared a quarterly dividend of $1.02 per share. The stock has a consensus "Hold" rating from analysts with an average price target of $158.11.
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