ExxonMobil, Mitsubishi Join Forces on Major Low-Carbon Project

Zacks09-18

Exxon Mobil Corporation XOM and Japan-based Mitsubishi Corporation MSBHF signed a project framework agreement to collaborate on a groundbreaking low-carbon hydrogen and ammonia facility in Texas. The ...

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The ...</p>\n\n<a href=\"https://finance.yahoo.com/news/exxonmobil-mitsubishi-join-forces-major-135900278.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1839511570.USD","symbol_name":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","start_time":0,"source_url":"https://finance.yahoo.com/news/exxonmobil-mitsubishi-join-forces-major-135900278.html","article_id":"2468535964","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/xZ9wY7_RPTPrYPVqTYHW9g--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/b81ac34444d94825c1ca7ea33d2f8831"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2468535964","pubTimestamp":1726667940,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Exxon Mobil CorporationXOM and Japan-based Mitsubishi Corporation MSBHF signed a project framework agreement to collaborate on a groundbreaking low-carbon hydrogen and ammonia facility in Texas. 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Mitsubishi plans to use ammonia in Japan for various industrial applications, includ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU1839511570.USD":"WELLS FARGO GLOBAL FACTOR ENHANCED EQUITY \"I\" (USD) ACC","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","LU0792757196.USD":"TEMPLETON SHARIAH GLOBAL EQUITY FUND \"A\" (USD) ACC","CLB":"CORE LABORATORIES INC","LU0345781412.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) INC","LU0203345920.USD":"SCHRODER ISF QEP GLB ACT. 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The partnership, centered on ExxonMobil's proposed Baytown facility, aims to push forward the production of cleaner energy solutions and meet the growing global demand for sustainable fuel.\nPer the agreement, ExxonMobil and Mitsubishi will explore opportunities for the latter's acquisition of low-carbon ammonia and potential investment in the project. Once operational, the Baytown plant is slated to be the largest of its kind, producing up to one billion cubic feet per day (bcf/d) of low-carbon hydrogen.\nThe facility is projected to capture around 98% of CO2 emissions, marking a significant step toward near-zero carbon operations. By 2030, the plant will produce more than one million tons of low-carbon ammonia annually. Mitsubishi plans to use ammonia in Japan for various industrial applications, including power generation and process heating, to decarbonize these energy-intensive sectors.\nMitsubishi plans to repurpose part of its liquefied petroleum gas terminal into an ammonia trans-shipment terminal. The move is designed to facilitate ammonia export from Texas to Japan, where Mitsubishi aims to supply low-carbon ammonia to industrial consumers in the Shikoku and Chugoku regions.\nExxonMobil and Mitsubishi’s collaboration aligns with both companies’ net-zero aspirations and reflects their commitment to decarbonizing hard-to-abate sectors such as power generation and heavy industry. The Baytown facility is part of a larger trend of developing low-carbon hydrogen and ammonia supply chains, and it is expected to play a critical role in connecting the United States and Japan in the clean energy space.\nWhile the companies did not disclose specific details regarding the size of Mitsubishi’s potential stake or the amount of ammonia to be taken, a final investment decision is expected by 2025. The facility is projected to be operational by 2029.\nThis joint venture will help drive the global transition toward more sustainable energy solutions and provide a blueprint for future international partnerships in the decarbonization effort. Through this collaboration, ExxonMobil and Mitsubishi are set to make significant contributions to the future of clean energy, reinforcing their roles as leaders in the global effort to reduce carbon emissions and combat climate change.\nXOM Stock Price Performance\nShares of ExxonMobil have outperformed the industry in the past three months. XOM stock has risen 5.3% against the industry's 3.7% decline.\nImage Source: Zacks Investment Research\nXOM’s Zacks Rank & Stocks to Consider\nExxonMobil currently carries a Zack Rank #3 (Hold).\nInvestors interested in the energy sector may look at some better-ranked stocks like Core Laboratories Inc. CLB and TechnipFMC plc FTI, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.\nCore Laboratories, an oilfield services company, has a deep portfolio of sophisticated, proprietary products and services that position it to take advantage of the growing maturity in the global hydrocarbon reserve base. CLB’s expanding international upstream projects indicate a positive trajectory for revenues and profitability, especially as oil demand continues to rise globally.\nThe Zacks Consensus Estimate for CLB’s 2024 EPS is pegged at 95 cents. The company has a Value Score of B and a Growth Score of B. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.\nTechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry, with a focus on the subsea segment in offshore basins worldwide. FTI’s growing backlog ensures strong revenue visibility and supports margin improvements.\nThe Zacks Consensus Estimate for FTI’s 2024 EPS is pegged at $1.34. The company has a Value Score of B and a Growth Score of A. It has witnessed upward earnings estimate revisions for 2024 and 2025 in the past 30 days.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nExxon Mobil Corporation (XOM) : Free Stock Analysis Report\nCore Laboratories Inc. (CLB) : Free Stock Analysis Report\nTechnipFMC plc (FTI) : Free Stock Analysis Report\nMitsubishi Corp. (MSBHF) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"Company Corporation","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2468535964"}