🌍Exxon Mobil and Chevron, the battle of the energy giants!
Last week, Chevron $CVX and Exxon Mobil $XOMreleased third quarter results that show the two oil giants' different approaches to earnings management and shareholder rewards.

Although both companies' profits fell year-over-year, only Exxon Mobil opted to increase its dividend. The company increased its dividend by 4 % to $0.99 per share and returned nearly $9.8 billionto shareholders . However,Chevron, which paid out a record USD 7.7 billion to shareholders in the same period , has decided not to raise the dividend for the time being.

👥Financial Results and Market Update
Exxon Mobil reported a year-over-year decline in earnings of 15 %with earnings of $1.92 per share on revenue of $90.02 billion. Chevron performed similarly, with earnings down by 17 % to $2.51 per share, and revenue fell by 6 % to $50.67 billion. Both giants faced declining profitability primarily due to lower margins and natural gas prices, which remained well below last year's record levels. In addition, rising exploration and development costs for oil fields, particularly in Guyana and other foreign locations, are weighing on both companies' profits.

📊 Diversification and the struggle over the future of Guyana's production
It is importantto pay attention to both Exxon and Chevron's expansion in Guyana. The area represents huge potential with the discovery of more than 11 billion barrels of oil, the largest subsea oil find of the last decade. Exxonoperates the Stabroekblock in Guyana , where it has 45% and is producing about 400,000 barrels per day, with plans to increase to 1.2 million barrels per day by 2027. However, Chevron is seeking to gain access to the area by acquiring Hess, which holds 30% stake in the Stabroek block , leading to a legal dispute with Exxon, which will try to prevent the takeover.

📈 Market Moves
Exxon Mobil has outperformed Chevronin the market this year .Exxon shares are up by 17 %, supported by steady dividend growth and the price of US crude oil, which climbed above $77 a barrel in early October on tensions in the Middle East. Chevron shares, on the other hand, have fallen this year by 1 % and remain 10 % below its May peak. This divergence in stock growth suggests that Exxon's approach to shareholder returns and investment in growth may be better aligned with current market needs.

🔍 Future growth and competition
Looking ahead, both giants face challenging oil market conditions and increasing competition. Exxon maintains its advantage with dividend increases and large investments in overseas projects such as Guyana, while Chevron is focusing on consolidation and a more cautious approach to expansion. It is therefore important to monitor how both companies are diversifying and how the situation in Guyana develops, as the success of these projects could significantly affect their financial stability and earnings.

What is your view on these oil companies?