Oil giant ExxonMobil announced it intends to drop its New Jersey corporate registration and redomicile in Texas, citing the Lone Star State’s business-friendly legal environment and after years of shareholder and climate-related legal battles.

The company on Tuesday said its board of directors unanimously recommended shareholders approve changing the company’s legal domicile from New Jersey to Texas, saying aligning ExxonMobil’s legal home with where its leadership and core operations have been based since 1989 will benefit shareholders.

“Over the past several years, Texas has made a noticeable effort to embrace the business community. In doing so, it has created a policy and regulatory environment that can allow the company to maximize shareholder value,” Darren Woods, ExxonMobil chairman and chief executive officer, said in a statement.

TRUMP MAY KEEP EXXONMOBIL OUT OF VENEZUELA AFTER CEO COMMENTS: ‘I DIDN’T LIKE THEIR RESPONSE’

ExxonMobil plans to redomicile from New Jersey to Texas, citing the state’s business-friendly legal environment and modernized corporate statutes. An ExxonMobil gas station on Saturday, Oct. 25, 2025, in Los Angeles. (Eric Thayer / Los Angeles Times via Getty Images / Getty Images)

“Aligning our legal home with our operating home, in a state that understands our business and has a stake in the company’s success, is important,” Woods said.

If approved by shareholders, Exxon would become the latest high-profile company — including SpaceX, Tesla and Coinbase — to register in Texas as the state markets itself as a corporate-friendly alternative to traditional incorporation hubs.

In recommending the move, Exxon said its board considered Texas’ legal and regulatory environment, including its modernized business statutes and the Texas Business Court, which is designed to resolve complex disputes efficiently. When corporate decisions are challenged, Texas courts are required to apply clear, statute-based standards, the company said.

The move comes after years of high-profile clashes with activist investors and climate-focused shareholder campaigns.

New Jersey officials sued Exxon, Chevron and other fossil-fuel companies in 2022, alleging they contributed to climate change and forced the state to spend billions cleaning up after major natural disasters such as Superstorm Sandy and Hurricane Ida. The suit was dismissed last year.

Exxon has also faced years of high-profile clashes with activist investors and climate-focused shareholder campaigns.

EXXON TO SLASH THOUSANDS OF JOBS IN MAJOR CORPORATE OVERHAUL AND COMPREHENSIVE RESTRUCTURING PLAN

Darren Woods, ExxonMobil chairman and chief executive officer, said aligning the company’s legal home with its operating base in Texas was important because the state understands Exxon’s business and has a vested interest in its success. (REUTERS/Brendan McDermid/File Photo / Reuters Photos)

In 2021, activist hedge fund Engine No. 1 won three seats on Exxon’s board in a proxy fight centered on the company’s climate strategy. Exxon later sued activist investors in 2024 over climate-related shareholder proposals, arguing they were attempting to abuse SEC rules governing proxy resolutions. The company has repeatedly pushed back against shareholder proposals seeking stricter climate disclosures, emissions targets and changes to its long-term fossil fuel strategy.

Exxon said the proposed redomiciliation will not affect business operations, management, strategy, assets or employee locations.

Around 30% of ExxonMobil’s global employees are located in Texas, while approximately 75% of its U.S. workforce is based there.

ExxonMobil’s legal domicile change will also not reduce shareholder rights, the company said, noting that the board determined that shareholder rights under Texas law are largely comparable to those under New Jersey law, and in some areas, stronger.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

People walk past a red sculpture on the campus of ExxonMobil headquarters in Spring, Texas, on March 28, 2023. (Melissa Phillip/Houston Chronicle via Getty Images / Getty Images)

ExxonMobil said it has no plans to adopt elective provisions under Texas law that would diminish shareholder rights currently in place.

ExxonMobil’s connection to New Jersey is largely historical, dating back to the 1882 incorporation of Standard Oil of New Jersey. The company’s board has not held a meeting in New Jersey for more than 40 years.

Reuters contributed to this report.

Selling a home often feels like a long race with no finish line in sight. Traditional buyers might back out or struggle with funding.

This creates a lot of stress for anyone needing to move fast. Cash purchase agreements offer a different path for homeowners.

These deals focus on speed and certainty instead of waiting months for a bank. Understanding how these agreements work can help you regain control of your timeline.

Speed Of Cash Sales

The traditional market often moves at a snail’s pace. Many homeowners look for services like We Buy Any House to get a faster result than they would elsewhere. This bypasses the typical delays found with traditional estate agents.

You can get an offer within 24 hours of starting the process. This is a huge benefit if you have a new job or a family emergency.

Selling a house the old way involves cleaning every room for strangers. Cash deals stop this cycle immediately. You deal with one buyer who is ready to move on your schedule.

Simplification Of The Sales Contract

A standard sales contract is filled with complex terms regarding bank approvals. A government guide on real estate transactions explains that contracts usually must specify how a buyer will fund the house if cash is not involved.

Removing this requirement makes the paperwork much shorter. It means fewer chances for the deal to fall through at the last minute.

Lawyers do not have to wait for mortgage offers to arrive in the post. The focus stays on the title transfer and the actual payment.

Why Sellers Choose Cash Deals

Most people selling a property want the highest level of security possible. An educational site for legal studies mentions that sellers typically have a strong preference for buyers who can complete a transaction without loans.

This preference exists since cash is ready to move immediately. You do not have to worry about a buyer losing their job or a bank changing its mind.

Chains are a common problem where one person’s delay stops 5 other sales. Cash buyers are not part of a chain. This provides a level of peace that a mortgage buyer cannot offer.

Condition Of The Property

One major hurdle in a normal sale is fixing up the house to impress picky buyers. You might spend thousands on paint just to get an offer.

A civil engineering article highlights that cash buyers are often willing to take a property in its current state, regardless of the location.

This is perfect for houses that need a lot of work. Normal buyers often get scared away by damp or old wiring. Cash firms see the potential and buy the property as it stands today.

Avoiding Mortgage Complications

The mortgage process is the primary reason why property sales take 3 or 4 months. Banks require inspections, valuations, and deep financial checks on the buyer.

• Valuation gaps can ruin a deal when a bank thinks the house is worth less than the price.
• Surveys might uncover small issues that stop a loan from being granted.
• Interest rate changes can make a buyer ineligible for the amount they need.

Wait times for mortgage valuations can stretch for weeks. Sometimes the surveyor finds a small crack, and the bank pulls the entire offer. Cash deals avoid this drama entirely. The buyer makes their own assessment and sticks to it.

Certainty In A Changing Market

The real estate market fluctuates based on many economic factors. Waiting 6 months to find a buyer could mean selling for a lower price if the economy dips.

A cash agreement locks in a price today. This provides a clear budget for your next move or investment. You can plan your future with 100% confidence.

Inflation and rising interest rates make traditional buyers very nervous. They might ask for price drops right before the exchange of contracts. Cash buyers offer a fixed price that does not change based on news headlines.

Reducing The Costs Of Selling

Selling a home is expensive when you count all the fees. Estate agents often take 1% or 2% of the total sale price.

You too have to pay for marketing and professional photos. These costs add up to thousands of dollars that come out of your pocket.

A cash purchase agreement often includes the buyer covering the legal fees. You do not have to pay for a “For Sale” sign or online listings. The price you see is the amount you keep.

Choosing a cash purchase agreement is a practical choice for many modern sellers. It removes the guesswork and the long waiting periods. You get to skip the endless cleaning for viewings and the worry of broken chains.

With countless products and platforms available online, we have become increasingly savvy and demanding when choosing providers for goods and services.

To stay relevant in the highly competitive digital economy, companies are constantly racing to optimise for speed across every layer of their operations – from their digital platforms to behind-the-scenes processes such as logistics, delivery, and human resources management.

In the sections below, we explore how speed can make or break digital brands across different industries, shaping user expectations, influencing loyalty, and ultimately determining market success.

Streaming and Gaming

Probably the first parameter of quality, second only to resolution or graphics, that everyone thinks of in this segment of the digital economy is speed. If a film takes too long to load or an online game lags during play, user interest quickly fades and frustration takes over.

In iGaming, speed is very important in transactions as well. For example, when players decide to play pay by mobile casino slots and make a deposit, they naturally expect the funds to be available almost instantly. Much like paying by phone at a physical store. Any delay here can severely impact trust and the overall player’s experience.

E-commerce

Trust, reliability, quality, and cost of shipping all play a role when a customer is choosing the platform and or store to order goods from. After all those obstacles are successfully overcome, the delivery time can break the deal. A DHL survey found that slow delivery is the #1 reason shoppers abandon carts. Not many facts can illustrate the importance of speed in the digital economy as this single piece of data.

Food delivery

The food delivery industry is one of the most time-sensitive sectors in the digital economy. Customers expect their meals quickly – often within 30–60 minutes of placing an order – and delivery speed plays a huge role in how satisfied they feel with the service. In fact, 80% of consumers expect food delivery within about 30 minutes, and 60% of customers say delivery speed is a key factor in choosing a platform.

Having this in mind, leading food delivery platforms like Uber Eats let users sort or filter restaurants by delivery time, making it easier to find the quickest options available – a design choice aimed at matching customer demand for speed.

Conclusion

As the saying goes, “The early bird gets the worm” – and that has never been more true than in today’s globally competitive digital economy.

Unlike traditional businesses, digital brands rarely interact with customers face-to-face. There is no physical presence, no sense of obligation, and no social pressure to wait. Users won’t stay patient simply because they have already “arrived.” In the digital space, patience is scarce, and courtesy doesn’t buy you extra time.

Everything happens in a click. And that same click makes it just as easy for customers to leave as it was for them to arrive. While operating digitally removes many logistical barriers, it also means users are quicker to switch providers – whether that’s an online store, a gaming platform, a streaming service, or any other on-demand experience. In this environment, speed is no longer a nice-to-have; it’s a deciding factor between being chosen or being replaced.

The Panama Canal administrator touted the canal’s logistical capabilities and plans to improve supply chain readiness as the Strait of Hormuz reaches a near standstill due to the U.S.-Israeli strikes on Iran. 

Dr. Ricaurte Vásquez Morales, the authority administrator for the Panama Canal, sat down during an exclusive interview with Fox News Digital and noted the canal’s anticipated improvements as the world’s busiest commercial shipping route, the Strait of Hormuz, has seen little to no traffic over the past few days. 

“We have been through the years a major channel to move LNG from the U.S. to Asia,” Morales told Fox News Digital. “Qatar usually supplies Asia, and after the Ukraine war, most of the American LNG has gone to Europe to replace the Russian LNG.”

The Panama Canal administrator said the waterway is prepared to help stabilize global energy supply chains as the Strait of Hormuz slows dramatically following U.S.-Israeli strikes on Iran. (LUIS ACOSTA/AFP via Getty Images / Getty Images)

“What we see is that probably prices are going to go up for LNG, which means that the current cost of the inventory on the vessel is going to increase,” he continued. “Fuel prices are going to go up.”

HEGSETH ONCE WARNED AGAINST ENDLESS WARS. NOW HE’S LEADING TRUMP’S STRIKE-FIRST DOCTRINE

Morales predicts that transit will increase in the Panama Canal as restraints in the Strait of Hormuz have continued to hold.

“The Panama Canal should get one or two transits a day, which is, in the old days, we had about three transits per day,” Morales added. “So it’s gonna come up a little bit and moving from the East Coast of the United States to Asia.”

The Strait of Hormuz normally facilitates the transit of roughly 20–21 million barrels of oil per day. Since last Friday, only four cargo ships have successfully traveled through the strait, and one of those ships was carrying corn.

With roughly one-fifth of the world’s oil normally passing through the Strait of Hormuz, the near standstill in traffic has heightened global energy concerns and underscored the Panama Canal’s strategic role as an alternative shipping route. (Giuseppe Cacace/AFP via Getty Images / Getty Images)

TRUMP ADMIN TURNS VENEZUELA INTO MAJOR US OIL SUPPLIER AS GLOBAL SHIPPING CRISIS EASES

By comparison, approximately 2.3 million barrels move through the Panama Canal each day. 

Roughly one-fifth of the world’s oil and a quarter of the world’s total seaborne oil trade travels through the Strait of Hormuz.

As for the Panama Canal, the administrator said that they have plenty of water and a maximum draft that will allow more vessels to pass through.

THE UNLIKELY TOOL TRUMP IS EYEING TO TACKLE RISING OIL PRICES AMID THE IRAN CONFLICT

The administrator also addressed the threat of tariffs that has shocked global trade with the U.S. since President Donald Trump took office, noting an increase in traffic due to tariff threats. 

An aerial view of the Port of Fujairah, United Arab Emirates, in the Strait of Hormuz. (REUTERS/Stringer / Reuters)

“Over the last 12 months, it increased volumes through the Panama Canal because people were anticipating tariffs, and they tried to front load the cargoes, especially for the later part of the year for Christmas demand in the states,” the administrator told Fox News Digital. “Now what we have is that essentially with the Lunar Year, they clear up all the inventories in Asia, so some of that has been moved into final destinations.”

President Donald Trump signaled his willingness to reopen the strait while speaking with reporters on Monday, pointing to Chinese reliance on the route, saying he wants to keep the passageway open.

IRANIAN DRONE STRIKES SHUT DOWN QATAR LNG PRODUCTION FACILITIES, AS ENERGY PRICES SURGE

“We’re really helping China here and other countries because they get a lot of their energy from the Straits,” Trump said. “We have a good relationship with China. It’s my honor to do it.”

President Trump emphasized that keeping the Strait of Hormuz open benefits major energy consumers like China, warning Iran that the U.S. would respond forcefully to any attempt to block oil shipments through the critical waterway. (The White House via X Account/Anadolu via Getty Images / Getty Images)

“I mean, we’re doing this for the other parts of the world, including countries like China,” Trump added. “They get a lot of their oil through the straits.”

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

The president posted to Truth Social on Monday night that the U.S. would retaliate “TWENTY TIMES HARDER” against Iran should they take any actions that stop the flow of oil through the Strait of Hormuz. 

“Additionally, we will take out easily destroyable targets that will make it virtually impossible for Iran to ever be built back, as a Nation, again — Death, Fire, and Fury will reign upon them — But I hope, and pray, that it does not happen! This is a gift from the United States of America to China, and all of those Nations that heavily use the Hormuz Strait,” Trump posted. 

It touts the cleanest restrooms in America and a brisket sandwich that built a cult following, but Buc-ee’s received the worst possible grade from the Better Business Bureau (BBB).

The BBB recently gave the Texas-based convenience store brand an “F” rating, citing a failure to respond to nearly 90 complaints filed against the business. The BBB assigns a rating between A+ and F, and although customer reviews do not impact the final grade, the company’s interaction and responsiveness to complaints are considered.

According to the BBB’s website, many recent complaints cite overpriced items, various product issues, poor or rude customer service, and the inability to return certain items.

BUC-EE’S PLANS TO OPEN THE WORLD’S LARGEST CONVENIENCE STORE

“Bought the chicken, bacon, avocado ranch wrap, it was so disgusting that I had to throw it out the window,” a complaint from Feb. 4 to the BBB reads. “There was no bacon, or ranch, and only a few pieces of chicken… [asked] my husband if he wanted some and he tried it too, and said it was the worst thing he’s ever ate. It tasted like the most flavorless mush, and on top of it it was $9.49.”

Visitors shop for brisket sandwiches at the first Buc-ee’s to open in Virginia on July 2, 2025. (Getty Images)

“Buc-cee’s has TERRIBLE customer service,” a January complaint says, referencing a lost or stolen gift card. “They have no phone number for you to call, only email. I have filled out their form with all of the information multiple times and have yet to hear back from them. I just want my gift card that I paid for and want them to treat their customers better.”

Buc-ee’s did not immediately respond to Fox News Digital’s request for comment.

Despite the recent failing grade, Buc-ee’s has not dampened its expansion momentum. The company currently has 54 U.S. locations across 11 states, with plans to expand into Ohio, Arizona, Arkansas, Kansas, Louisiana, Nebraska, North Carolina and Wisconsin.

Buc-ee’s large-format stores span tens of thousands of square feet, featuring 120 gas pumps on average and 700 to 1,000 parking spaces. Signature items like Beaver Nuggets and “fresh brisket on the board” have become regular road trip staples.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

The company ranked No. 5 in the 2025 American Customer Satisfaction Index for convenience stores, beating out major brands like Shell and ExxonMobil. In late 2025, Buc-ee’s earned America’s No. 1 quick-service restaurant spot in dunnhumby rankings, outperforming fast-food giants like In-N-Out and Chick-fil-A for customer preference.

The chain has also gained notoriety for its transparency in wages – starting pay can range from $16 to $20 per hour and full-time managers may earn $100,000 to $225,000, according to large hiring signs often posted at store entrances. Employee benefits include 401(k) plans with 100% company matching and three weeks of paid time off.

READ MORE FROM FOX BUSINESS