Battle of oil titans Chevron and Exxon over Guyana oil project could impact top energy ETFs. M&A, arbitration, and activist investors add to the stakes.
Shareholders elected former ConocoPhillips Chief Financial Officer Sigmund Cornelius and former Targa Resources executive Michael Heim among Elliott’s nominees.
Several analysts have forecast that benchmark crude will remain below $65 per barrel in 2025, a price level at which oil producers are unable to raise production.
Energy sector faces investor scrutiny due to recent developments. ETFs like XLE, VDE, and UNG offer exposure to energy companies amid market uncertainty.
The U.S. President said the decision was taken partly because Venezuelan President Nicholas Maduro failed to meet the agreement’s electoral conditions.
On an adjusted basis, the company reported a net income of $2.4 billion, or $1.98 per share, for the three months ended Dec. 31, compared with a Wall Street estimate of $1.83 per share.
According to FinChat data, the company reported fourth-quarter revenue of $83.42 billion, compared with the average analysts’ estimate of $87.20 billion.
