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Exxon Mobil Corp. is forecasting banner second-quarter earnings that could come in as high as about $18 billion, largely on higher oil-refining margins and rising prices for oil, natural gas and fuel.These projections aren’t precise and exclude certain factors, including specific costs incurred by Exxon but its second-quarter profit could be its most lucrative in at least 25 years, according to FactSet. Exxon MobilCorp. is forecasting banner second-quarter earnings that could come in as high as about $18 billion,…

Chevron is planning to sell its current headquarters in California and is offering to cover costs for some employees to relocate to Texas, the latest move by a large U.S. employer to reduce the size of its offices.The second-largest U.S. oil company said it would remain based in California, its home state for more than 140 years, but will be leaving its Chevron Park campus in San Ramon, Calif., its global headquarters for two decades. Chevronis planning to sell its current headquarters in California and is offering to…

A rapid rise in American fuel exports this year has helped push gasoline prices to a record $5 a gallon and is pressuring U.S. prices of natural gas, which hit the highest levels in over a decade earlier this month.In recent months, companies and commodities traders have shipped more U.S. gasoline and diesel to Latin America and other foreign markets, reaping higher prices than the fuel could fetch domestically. They have also sent more liquefied natural gas, or LNG, to Europe after Russia’s invasion of Ukraine. The jumps…

Global companies have racked up more than $59 billion in losses from their Russian operations, with more financial pain to come as sanctions hit the economy and sales and shutdowns continue, according to a review of public statements and securities filings.Almost 1,000 Western businesses have pledged to exit or cut back operations in Russia, following its invasion of Ukraine, according to Yale researchers. Many are reassessing the reported value of those Russian businesses, as a weakening local economy and a lack of…

Russia is still finding a home for much of its oil despite expanding sanctions, but its production likely will diminish following the departure of western oil companies, Chevron Corp. CVX 0.91% Chief Executive Mike Wirth said.In a meeting with Wall Street Journal reporters and editors this week, Mr. Wirth noted that many countries continued to buy crude from Russia, one of the world’s top oil producers along with the U.S. and Saudi Arabia.…

Natural-gas exporter Venture Global LNG Inc. said it would build a new, multibillion-dollar liquefied natural-gas export facility in Louisiana, as demand for U.S. gas exports surges in Europe following Russia’s invasion of Ukraine.The company said Wednesday it had secured $13.2 billion in financing and gave final approval for the Plaquemines project near New Orleans—the first new U.S. plant to get a green light in three years. Natural-gas exporter Venture Global LNG Inc. said it would build a new, multibillion-dollar…

Activist hedge fund Third Point LLC told clients it has increased its stake in Shell SHEL -3.24% PLC and is still pushing the oil giant to restructure, six months after calling for a breakup of the company. Daniel Loeb’s New York-based hedge fund took a $750 million stake in Shell last year as of the third quarter, and called on it to separate into multiple companies—one focused on legacy businesses such…