Seeking Alpha

A senior Indonesian official calls on Exxon Mobil (XOM -0.4%) to replace its country manager...

A senior Indonesian official calls on Exxon Mobil (XOM -0.4%) to replace its country manager after delays at one of its major oilfields. The country's Cepu Block crude oil site, operated jointly by XOM and state-run Pertamina, faces delays in reaching peak production, hurting its ambition to boost output to 1M bbl/day and souring government relations with XOM.
Comments (1)
  • xomstock
    , contributor
    Comments (263) | Send Message
     
    There are three kinds of time. Your time, My time, and Exxon time.
    I noticed this years ago when working as a contractor for Exxon. They do what they want when it is their time to do it. Having worked in and around the oil business all my life I have always wondered why the rush and extra expense of the rush to get oil out of the ground even one day quicker after waiting millions of years down there. The way of the oil field yet Exxon drags their feet agonizingly slow on some projects and also when it comes time to pay their contractors!!
    28 Jan 2013, 04:05 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs