GXPE Overview

Meta's Clean Energy Initiative: Meta Platforms, Inc. has expanded its clean energy efforts by signing a new Power Purchase Agreement (PPA) with ENGIE SA, increasing their total contracted energy capacity to over 1.3 GW across four Texas projects.

Swenson Ranch Solar Project: The new PPA includes the 600MW Swenson Ranch Solar project, which will be operational by 2027 and is expected to generate over $158 million in local tax revenue.

Partnerships for Renewable Energy: Meta has been actively partnering with various energy companies, including a 20-year PPA with Constellation Energy for nuclear energy and agreements with Invenergy for additional solar and wind energy.

Stock Performance: Following the announcement of the new PPA, Meta's shares rose by 1.84%, trading at $751.93.

Exxon Mobil's Preliminary Deal with Rosneft: Exxon Mobil has entered a non-binding agreement with Russia's Rosneft to explore recovering $4.6 billion lost from its withdrawal from Russian operations in 2022, marking a cautious step towards commercial dialogue, contingent on geopolitical developments.

Hammerhead Development in Guyana: Exxon has finalized plans for the Hammerhead project offshore Guyana, aiming for first oil in 2029, with a budget of $6.8 billion and a production capacity of 150,000 barrels per day, contributing to over $60 billion in commitments across its Stabroek projects.

ExxonMobil's New Production Milestone: ExxonMobil Guyana has commenced production at the Yellowtail development in the Stabroek block, with the ONE GUYANA FPSO vessel expected to average 250,000 barrels of oil per day, contributing to a total capacity exceeding 900,000 barrels per day.

Future Growth Plans: By 2030, ExxonMobil aims to increase production to 1.7 million oil-equivalent barrels per day from eight deepwater projects, emphasizing local workforce engagement and partnerships in the region.

Global X ETFs Launches PureCap Suite: Global X ETFs has introduced its PureCapSM Suite, consisting of five new ETFs that provide uncapped access to market leaders in various U.S. sectors, each with a low expense ratio of 0.25%.

Benefits of PureCap ETFs: These ETFs track MSCI USA sector indexes without regulatory caps, allowing investors to fully capitalize on the performance of major companies like Apple and Nvidia, while also offering advantages such as tax efficiency and liquidity for long-term investors.