
Exxon Agrees With Adnoc to Boost Capacity of Offshore Oil Field
Abu Dhabi National Oil Co. will work with Exxon to boost capacity at the offshore Upper Zakum field, the UAE company said in a statement Friday. The site, where Japan's Inpex Corp. is also a partner, currently can produce more than 1 million barrels a day. Adnoc didn't specify the new target.

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5 hours ago
- Yahoo
Energy Dividend Aristocrats Shine Amid Market Uncertainty
With U.S. markets trading close to record highs, many investors are now turning to dividend-paying stocks as they try to balance growth and income. Dividend investing provides a predictable and reliable source of cash flow that can complement other forms of income. Dividend stocks can also help protect your portfolio when the stock market loses steam, with predictions of a market crash growing. Studies have shown that dividend-paying stocks tend to hold up much better during market downturns, with an interesting study finding that they declined by an average of 14.4% during major drawdowns over the past 50 years compared with a 28.2% crash by non-dividend-paying stocks and 19.9% by the S&P 500. The ProShares S&P 500 Dividend Aristocrats ETF (NOBL) tracks the S&P 500 Dividend Aristocrats index composed of the companies that have grown their dividends for the last 25 consecutive years. Dividend aristocrats are generally considered to be high-quality businesses, a major attraction for long-term investing. After all, a company cannot consistently grow and pay out dividends for 25+ years without having a strong competitive advantage. Investing in dividend aristocrats helps investors avoid the so-called dividend traps wherein investors are attracted to potentially troubled companies by merely looking at their high yields. So far in 2025, energy-sector dividend aristocrats have shown a mixed performance compared to their counterparts in other industries. While mid-June's rally pushed WTI crude to about $77.6 per barrel (its highest level this year) prices have since retreated into the low $60s. Historically, the group's strong balance sheets and disciplined capital spending have allowed them to maintain and even grow dividends through commodity cycles, though they can lag more defensive sectors when crude prices weaken. This dynamic has kept the energy aristocrats in focus for income investors seeking yield with a measure of growth potential tied to the global energy market. Here are the leading dividend aristocrats in the oil and gas sector. #1. Exxon Mobil Forward Dividend Yield: 3.69% Sector: Energy Industry: Oil and Gas Integrated U.S. oil and gas giant, Exxon Mobil Corp. (NYSE:XOM), is a highly-rated dividend aristocrat, with a dividend growth streak of 41 years. Exxon has a high payout ratio for an energy company, with ~50% of 2025 earnings forecast in dividends. During the first quarter, Exxon returned $4.3B in dividend to shareholders with another $4.8B spent on share buybacks. Exxon reported second quarter revenue of $81.51B (-12.4% Y/Y), beating the Wall Street consensus by $1.2B while Q2 Non-GAAP EPS of $1.64 beat by $0.09. During the earnings call, Exxon Chairman and CEO Darren W. Woods outlined plans to grow Permian production by 700,000 barrels of oil equivalent (boe) per day to 2.3 million by 2030 and expand Guyana output to 1.7 mboe. Exxon tops Morningstar's best dividend stocks list, with Morningstar director Allen Good saying the company's dedication to growing oil and gas production lowers risks for investors, 'While this strategy is unlikely to win praise from environmentally oriented investors, we think it's more likely to be more successful and probably holds less risk.' Morningstar has a $135 price target on XOM, good for 26.2% upside from current price. #2. Chevron Forward Dividend Yield: 4.41% Sector: Energy Industry: Oil and Gas Integrated Chevron Corp. (NYSE:CVX) is another dividend champ, having grown distributions for 38 consecutive years. Chevron's 4.4% dividend yield is among the highest for large-cap oil and gas companies. The company returned a mixed report for the second quarter, with non-GAAP EPS of $1.77 beating by $0.02 while Q2 revenue of $44.82B (-12.4% Y/Y) missed by $230M. Chevron attributed lower earnings compared to a year ago to lower crude oil prices coupled with an unfavorable fair value adjustment for Hess shares. Chevron completed the acquisition of Hess on July 18, 2025, after winning a legal battle with ExxonMobil over the rights to a stake in a lucrative offshore oil project in Guyana. The total enterprise value of the deal was $55 billion, including debt. The company increased its 2026 free cash flow guidance to $12.5 billion, thanks to the Hess acquisition, and anticipates realizing $1 billion in annual run-rate synergies from the merger by the wend of 2025. #3. 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Bloomberg
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- Bloomberg
Israel's Economy Unexpectedly Shrinks as War on Iran Takes Toll
Israel's economy slumped in the second quarter as the country's 12-day war with Iran imposed a total shutdown on many businesses. Gross domestic product dropped 3.5% in annualized, seasonally adjusted terms, Israel's Central Bureau for Statistics reported on Sunday, lower than the median estimate of 0.2% growth in a Bloomberg survey of six economists.
Yahoo
a day ago
- Yahoo
Mohamed bin Zayed University of Artificial Intelligence begins new academic year with largest-ever cohort of 400+ students
ABU DHABI,UAE, Aug. 16, 2025 /PRNewswire/ -- Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) has welcomed its largest cohort for its Fall 2025 intake, enrolling 403 new students. This includes its inaugural undergraduate class, new graduate cohorts in existing programmes in Computer Science, Computer Vision, Machine Learning, Natural Language Processing, and Robotics, and the first intakes into the Master of Science in Statistics & Data Science and Master in Applied Artificial Intelligence. This semester received more than 8,000 applications across the university's Bachelor and graduate programmes, yielding an acceptance rate of 5 per cent, and reinforcing the university's prestigious position and ability to attract the best talent in the UAE and from around the world. Timothy Baldwin, MBZUAI Provost and Professor of Natural Language Processing, said: "This year, MBZUAI welcomes our largest cohort of graduate students alongside our inaugural undergraduate class. Artificial intelligence is transforming the world at a pace that vastly outstrips traditional education models. To realise its full global potential, MBZUAI invests heavily in reviewing and updating our programmes to reflect modern AI research methodology and workflows, based on our bleeding-edge AI research credentials and grounded in societal and industrial needs. As a young institution, MBZUAI has already earned a place among the world's top 10 AI universities based on our research credentials. With the introduction of our undergraduate and Master's in Applied AI programmes, we continue to build world-leading programmes aligned with the UAE's National Strategy for AI 2031 and supporting Abu Dhabi's rapidly growing AI ecosystem." The newly launched Bachelor of Science in Artificial Intelligence programme offers two streams, AI for Business and AI for Engineering, combining technical rigor with leadership, hands-on entrepreneurship, and in-situ industry experience. The first class consists of 115 undergraduate students from more than 25 countries, over 25 per cent of which are UAE Nationals. Professor Baldwin said: "The jobs of tomorrow are being shaped by AI today and we must ensure that future generations are equipped with the tools and skills to navigate that shift. Our extraordinarily talented students don't just learn about AI, but learn with it, through it, and for it. This is an extraordinary value proposition across all our programmes, but especially for our undergraduate students, who will be studying towards a bachelor's degree in AI that I believe sets a new global benchmark in terms of technical depth, real-world relevance, and the high-end AI job-readiness of the students." The key highlights for the Fall 2025 intake includes MBZUAI's total student body totaling more than 700, representing over 47 nationalities. Nationalities represented in the undergraduate programmes are Bulgaria, China, Egypt, Georgia, Greece, India, Indonesia, Kazakhstan, the UAE and the UK. Postgraduate programmes bring together students from Canada, China, Egypt, France, India, Italy, Kazakhstan, Serbia, UAE, UK, USA and Vietnam. MBZUAI continues to attract exceptional students, with 151 of the incoming graduate students (27.5 per cent) holding degrees from the world's top 100 computer science universities (CSRankings), including Cornell University, Tsinghua University, the University of Edinburgh, and the University of California, San Diego. In welcoming the new students, MBZUAI has begun its immersive Orientation Week, introducing new students to the university's culture of academic excellence, AI-driven innovation, and community engagement. The programme combines academic sessions, mentorship activities, and cultural programming celebrating UAE heritage and life in Abu Dhabi. Highlights include the Orientation Mini Fair, where internal and external partners showcase resources for academic success, career development, and student life. Orientation Week is designed to foster a strong sense of belonging and connection, laying the foundation for academic success and life-changing university experiences. For more information, visit Media Contact:Noorul Tharola View original content: SOURCE Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) Sign in to access your portfolio