China added some downward pressure to oil prices this week when it clearly signaled its intent to buy more Russian oil, oil that the EU is determined to ditch
ExxonMobil (XOM) will receive $750 million in cash, along with additional payments contingent on future natural gas prices.
For years, oil supermajors like ExxonMobil (NYSE: XOM) dominated the energy sector. With globally diversified operations and strong balance sheets, they were well-designed to weather the sector's ups and downs. In its place, a new energy supermajor is emerging.