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Mon, 01/02/2012 - 15:07 by Sam Ross
An international arbitration panel has ordered Venezuela to pay Exxon Mobil $908 million in compensation for nationalization of its assets in Orinoco Belt.
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Mon, 07/04/2011 - 14:38 by Anter Prakash Singh
Efforts are on to control the damage caused by the oil spill in the Yellowstone River after a breach in Exxon Mobil pipeline near Laurel.
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Fri, 05/06/2011 - 16:15 by Neka Sehgal
In Fortune magazine’s list of top 500 big public corporations released Thursday, Wal-Mart knocked out Exxon Mobil for the second consecutive year to retain the top slot in the latest rankings.
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Wed, 10/20/2010 - 06:54 by Morgan Housel
We've been writing a lot lately about whom and what to blame for sky-high unemployment. I've mentioned labor mobility and skills mismatch as factors. My colleague Ilan Moscovitz says it's mostly a lack of demand that's preventing employers from creating new jobs. Others have argued -- falsely, I think -- that high unemployment benefits are to blame. There's little clarity and even less consensus on this topic, which makes for good debates. |
Thu, 05/27/2010 - 10:10 by Rakhi
Seattle -- Apple became the 500-pound gorilla of the technology world Wednesday, surpassing Microsoft based on market capitalization.
The Seattle Times reported Apple and Microsoft could wind up see-sawing back and forth in the coming months -- but on Wednesday, Microsoft stock fell 4 percent to close at $25.01 for a market capitalization of $219.1 billion while Apple stock slipped 0.5 percent to close at $244.11 and a market capitalization of $222.1 billion.
"It's mostly symbolic," said Matt Rosoff, analyst at Directions on Microsoft, an independent research firm in Kirkland, Wash. "Apple built a lot of new businesses; they've been able to be successful in those businesses. They also started from a smaller base."
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Tue, 01/19/2010 - 04:07 by harsheeb
Anchorge -- Thousands of gallons of oil from Alaska's 1989 Exxon Valdez spill are trapped in compacted beach sediment, scientists said.
About 21,000 gallons of the 11 million gallons of oil spilled remain on beaches in Prince William Sound, The Anchorage Daily News reported Monday.
In the years after the massive spill, the oil degraded fairly quickly and then slowed. A new study shows the remaining oil has compacted and is impervious to dissipation, said Michel Boufadel, lead researcher of a $1.2 million study funded by the Exxon Valdez Oil Spill Trustee Council.
Proposals to remove residual oil from the beaches are still being negotiated with Exxon Mobil, which owned the damaged tanker Exxon Valdez.
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Thu, 01/14/2010 - 08:49 by harsheeb
Anchorge-- A state judge says Alaska's Department of Natural Resources did not give Exxon due process when it canceled 31 potentially lucrative leases last year.
Exxon's lack of progress developing the Point Thomson unit, a collection of gas drilling leases on the North Slope, has created a state versus company dispute for years, the Anchorage Daily News reported Wednesday.
Exxon first signed leases for the area in 1977.
The state has since pressed for development, eager to reap fees and taxes production of the unit would create.
Last year, DNR Commissioner Tom Irwin said Exxon's plan lacked credibility and terminated Exxon's arrangement.
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Tue, 12/15/2009 - 06:48 by harsheeb
Houston -- Exxon Mobil Corp. Monday said it reached a deal to buy U.S. energy company XTO Energy Inc. for $41 billion.
For the the all-stock deal, Exxon will issue 0.7989 percent of a share for each XTO common share, or 25 percent more than recent closing prices, MarketWatch reported.
XTO Energy shares quickly jumped 15 percent with the announcement, while Exxon shares dropped 4 percent.
Standard & Poor's stock analyst Tina Vital said, "we like the deal, which we view as fairly valued at W$2.96 per thousand cubic feet of proved reserves, in line with recent data."
XTO would be "a compliment" to Exxon's future plans, Vital said.
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Fri, 11/06/2009 - 11:24 by Rakhi Kaptiyal
Baghdad -- The Iraqi Oil Ministry granted Exxon Mobil Corp. and Royal Dutch Shell the rights to the West Qurna-1 oil field, awarding the contract over two other bids.
Lukoil, a Russian firm, along with ConocoPhillips submitted a bid for development rights, as did CNPC, The Wall Street Journal reported Thursday.
Aside from Occidental Petroleum Corp.'s involvement as a junior partner in a Eni SpA-led proposal granted a contract for oil development in Southern Iraq a week ago, the new deal is the first access to its oil reserves Iraq has given to a U.S. company.
The deal requires approval from the Iraqi cabinet, said oil ministry spokesman Assem Jihad.
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Fri, 07/31/2009 - 02:41 by surajdogra
New York -- U.S. markets turned sharply higher Thursday following four flat trading sessions.
Stocks rose despite a report from Exxon Mobil that profits dropped 66 percent in the second quarter, compared with the same period in 2008. Quarterly profits fell to $512 million, down from $1.562 billion a year ago, The New York Times reported.
In early afternoon trading, the Dow Jones industrial average rose 1.72 percent, 156.29 points, to 9,227.01. The S&P 500 rose 1.78 percent, 17.33 points, to 992.48, closing in on the 1,000 point mark. The Nasdaq index broke 2,000 early, then tailed off to 1,993.69, up 1.32 percent on a gain of 25.93 points.
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Tue, 07/14/2009 - 22:51 by surajdogra
Irving, Texas -- Oil giant Exxon Mobil, which once disdained alternative energy exploration, announced it will explore biofuels development.
Exxon, based in Irving, Texas, said Tuesday it plans to invest $600 million in producing liquid transportation fuels from algae in partnership with biotechnology company Synthetic Genomics, The New York Times reported.
The agreement could address what environmentalists say is a critical gap in Exxon's energy strategy, which critics say has been dismissive of global warming and renewable fuels, the Times said.
"We literally looked at every option we could think of, with several key parameters in mind," said Emil Jacobs, Exxon's vice president for research and
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Fri, 06/26/2009 - 13:06 by Paul Elliott
Mutual funds may be OK for you. They beat sitting in cash ... but they're expensive, too. If you have the slightest inclination to "do it yourself" -- and make more money -- you should probably read this.
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