{"id":381354,"date":"2026-04-08T12:40:10","date_gmt":"2026-04-08T12:40:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/381354\/"},"modified":"2026-04-08T12:40:10","modified_gmt":"2026-04-08T12:40:10","slug":"exxon-sees-6-of-its-worldwide-output-shut-on-mideast-conflict","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/381354\/","title":{"rendered":"Exxon Sees 6% of Its Worldwide Output Shut on Mideast Conflict"},"content":{"rendered":"\n<p class=\"yf-1fy9kyt\">(Bloomberg) \u2014 Exxon Mobil Corp. (<a data-i13n=\"cpos:1;pos:1\" href=\"https:\/\/finance.yahoo.com\/quote\/XOM\" data-ylk=\"slk:XOM;cpos:1;pos:1;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkPosition&quot;:&quot;1&quot;,&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yPosition&quot;:&quot;1&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;XOM&quot;,&quot;yHasCommerce&quot;:false}\" class=\"link \" rel=\"nofollow noopener\" target=\"_blank\">XOM<\/a>) said 6% of its global first-quarter production was knocked out as the Iran war paralyzed much of the Persian Gulf energy industry.<\/p>\n<p class=\"yf-1fy9kyt\">Half of those outages were concentrated at a liquefied natural gas complex in Qatar in which Exxon is a partner, the company said on Wednesday. Two LNG production lines, or trains, were damaged.<\/p>\n<p class=\"yf-1fy9kyt\">\u201cPublic reports indicate the damage will take a prolonged period to repair,\u201d Exxon said in a statement. \u201cPending an on-site evaluation, we are unable to comment on the length of time before the two trains return to normal operations.\u201d<\/p>\n<p class=\"yf-1fy9kyt\">Exxon is among the first of the international supermajors to disclose the war\u2019s impacts on assets it owns or helps operate in and around the Gulf. In normal times, the region accounts for roughly one-fifth of the Texas-based company\u2019s global output.<\/p>\n<p class=\"yf-1fy9kyt\">The oil titan is scheduled to release complete quarterly results on May 1. European rival Shell Plc also published a trading update on Wednesday, in which it reported lower quarterly gas production amid the war.<\/p>\n<p class=\"yf-1fy9kyt\">Qatar has estimated that the damage to the LNG facility will cost about $20 billion in annual lost revenue and could take half a decade to repair.<\/p>\n<p class=\"yf-1fy9kyt\">Meanwhile, first-quarter earnings at Exxon\u2019s energy-products division, which includes refining and trading, will be $3.7 billion lower than the final three months of 2025 due to price volatility and the timing of cargoes, the company said.<\/p>\n<p class=\"yf-1fy9kyt\">\u201cThese impacts will unwind over time and will result in net positive profit once the underlying transactions are complete,\u201d Chief Financial Officer Neil Hansen said. \u201cThese are sound trades and the profitability that will result from them will be material.\u201d<\/p>\n<p class=\"yf-1fy9kyt\">Excluding the timing effects, per-share earnings were higher than the prior quarter.<\/p>\n<p class=\"yf-1fy9kyt\">Big Oil executives have consistently warned that financial markets have underestimated the severity of the conflict\u2019s impact on energy supplies.<\/p>\n<p class=\"yf-1fy9kyt\">The war \u201chas upended the perception of the Gulf as a safe and investable hub,\u201d JPMorgan Chase &amp; Co. strategists wrote in an April 6 note. \u201cCountries such as Qatar and Kuwait face severe near-term growth hits, with the broader region likely to suffer longer-term damage\u201d to foreign investment.<\/p>\n<p class=\"yf-1fy9kyt\">Exxon expects first-quarter gains of about $2.1 billion and $400 million from higher crude and natural gas prices, respectively.<\/p>\n<p class=\"yf-1fy9kyt\">Chief Executive Officer Darren Woods has increased output more than 30% in the past three years to the equivalent of almost 5 million barrels a day via acquisitions and aggressive growth projects.<\/p>\n","protected":false},"excerpt":{"rendered":"(Bloomberg) \u2014 Exxon Mobil Corp. (XOM) said 6% of its global first-quarter production was knocked out as the&hellip;\n","protected":false},"author":2,"featured_media":381355,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[1877,114,31011,85,46,76194,140127,1823],"class_list":{"0":"post-381354","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-bloomberg","9":"tag-business","10":"tag-exxon-mobil-corp","11":"tag-il","12":"tag-israel","13":"tag-liquefied-natural-gas","14":"tag-persian-gulf","15":"tag-qatar"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/381354","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=381354"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/381354\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/381355"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=381354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=381354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=381354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}