- It’s been a fine year for Exxon Mobil (XOM +0.6%), with shares recently hitting 15-month highs and rising 16.5% YTD; a post-Christmas push looks to be a response to XOM’s announced joint venture with Russia's Rosneft (RNFTF) to launch a pilot program to drill horizontal wells and revive old wells in western Siberia.
- XOM is one of the cheapest Dow stocks and while its earnings and revenues dropped this year, it still managed to outperform the industry average.
- XOM predicts a 35% increase in global energy demand by 2040, sparked by more efficient, energy-saving programs and technologies, increased use of natural gas and other less-carbon intensive fuels, and continued development of advanced exploration and production technologies.
Exxon caps strong year with Rosneft exploration JV
Dec 31 2013, 15:36 ET