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Exxon Mobil Corporation (XOM)

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  • Apr. 4, 2013, 4:59 PM
    Oil spill update: ~700 barrels of crude leaked from a Shell (RDS.A) pipeline near Houston, with ~50 barrels spilled into the Vince Bayou that connects to the Houston Ship Channel. Crews have recovered ~19K barrels from Exxon's (XOM) pipeline spill in Arkansas. Spill estimates from the derailment of a Canadian Pacifc (CP) train in Ontario balloon from four barrels to 400.
    | 4 Comments
  • Apr. 3, 2013, 4:40 PM
    Exxon Mobil (XOM) and Mexico’s state-controlled oil giant Pemex reach a deal to collaborate in research, science, technology and human resources training for the exploration, drilling, production, transportation and storage; the agreement does not involve paid services. Pemex seeks to modernize, as its crude output has been dropping steadily for years.
    | 4 Comments
  • Apr. 3, 2013, 10:53 AM
    Rosneft (RNFTF.PK) and Exxon Mobil (XOM) agree to launch a joint bid for Lebanese offshore projects, the CEO of the Russian state-run oil giant says. A total of 52 companies from 25 countries have applied to participate in the tender, including Lukoil and a combination of Novatek and Gazprombank, as well as Chevron (CVX), Statoil (STO) and Total (TOT).
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  • Apr. 3, 2013, 9:54 AM
    As the U.S. dithers over whether to allow liquefied natural gas exports, "the smart money is going to Canada," which is pulling ahead of the U.S. in a contest to be the first exporter of LNG from the North American shale bonanza to Asia’s $150B market. Canada has approved twice as much LNG export capacity as the U.S., positioning it as the go-to source of North American gas for overseas buyers.
    | 18 Comments
  • Apr. 3, 2013, 9:43 AM
    Exxon's (XOM) stock price remains basically unchanged nearly a full week into the pipeline spill of thousands of barrels of oil in an Arkansas town; that's because the incident likely won't hurt its reputation, Jonathan Baskin writes. Meanwhile, pipeline regulators issued a corrective action order to XOM last night requiring government approval before restarting the pipeline.
    | 1 Comment
  • Apr. 2, 2013, 12:29 PM
    The Arkansas Attorney General's office is opening an investigation into the causes the Exxon Mobil (XOM) pipeline rupture that spilled thousands of gallons of oil into an Arkansas town last week. The AG says the probe will determine whether XOM may be liable for the consequences of the spill under the Arkansas Water and Air Pollution Act and other laws.
    | 1 Comment
  • Apr. 2, 2013, 11:16 AM
    Exxon Mobil (XOM) is downgraded to Perform from Outperform at Oppenheimer, which believes XOM can't maintain its $20B annual share repurchase even at higher oil and gas prices. Also, XOM is challenged just to maintain - not grow - its production organically, no discovery could be big enough to impact its valuation, and further meaningful cost savings are unlikely.
    | 5 Comments
  • Apr. 2, 2013, 9:51 AM
    As big energy firms buy out smaller rivals in the Marcellus Shale, one side effect is an improving environmental record, according to a WSJ analysis. XOM, CVX and RDS.A average 38 violations for every 100 Marcellus wells drilled; the smallest companies average 132 violations per 100. Experts say this is partly due to the energy giants' financial resources and more rigorous safety protocols. (also)
    | 1 Comment
  • Apr. 2, 2013, 8:59 AM
    As Pres. Obama weighs approving the Keystone pipeline (TRP), a recent series of energy mishaps, including a spill in Arkansas from a pipeline owned by Exxon (XOM), aren't helping the pro-pipeline cause. The administration isn't saying how the spill is affecting its thinking. Yet a larger spill from a train in Minnesota last week drew little criticism, even as oil pipelines carry far more crude and have fewer leaks per mile.
    | 10 Comments
  • Apr. 2, 2013, 7:52 AM
    Exxon Mobil (XOM) and BHP Billiton (BHP) plan to build the world's biggest floating natural gas processing plant to tap into the Scarborough natural gas field off Western Australia. They're seeking government approval for the multibillion dollar project, and targeting first production as early as 2020. The move is a vote of confidence in the untried technology, which energy companies hope will help cut costs.
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  • Apr. 1, 2013, 11:20 AM
    Exxon Mobil (XOM +0.4%) says it has yet to excavate the area around an Arkansas crude oil pipeline rupture that spilled ~12K barrels of crude during the weekend. Cleanup efforts are continuing as the pipeline remains shut. Digging down to the pipeline breach is a critical step in assessing damage and determining how and why it ruptured.
    | 2 Comments
  • Apr. 1, 2013, 8:57 AM
    West Texas crude’s discount to Brent prices widened from the narrowest in almost nine months after Exxon Mobil (XOM) shut its 96K bbl/day Pegasus pipeline system due to a leak in Arkansas. Inventories already are high, and the pipeline closure will mean less crude can be transported from the U.S. Midwest, potentially exacerbating a glut of oil coming from Canada to the Midwest.
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  • Mar. 31, 2013, 4:07 PM
    Exxon Mobil (XOM) now says 12,500 barrels of oil and water have been recovered from a pipeline that ruptured Friday in Arkansas. Predictably, the spill has turned into political fodder for opponents of the Keystone XL Pipeline. Massachusetts Democrat Ed Markey says the Arkansas spill demonstrates "that transporting large amounts of this corrosive and polluting fuel is a bad deal for American taxpayers."
    | 91 Comments
  • Mar. 30, 2013, 9:49 PM
    Exxon Mobil (XOM) says a crude oil pipeline has ruptured in Arkansas spilling thousands of barrels of oil into a subdivision. The EPA has classified the event as a "major spill" and more than 20 homes have been evacuated. 
    | 10 Comments
  • Mar. 28, 2013, 5:13 PM
    Exxon Mobil (XOM) has been discussing fracking with German regulators and communities with future exploration in mind, it said in its 2012 financial and operational review released this week. Germany does not have an official moratorium on fracking, unlike some nearby countries, but analysts say XOM’s "ultra cautious” comments imply an informal policy more restrictive than markets realize.
    | 1 Comment
  • Mar. 28, 2013, 12:31 PM
    Exxon Mobil (XOM) is rumored to be in talks with the oil and gas arm of Abu Dhabi's state-run investment fund on selling a 5% stake in Iraq's gfiant West Qurna-1 oilfield. Iraqi officials believe XOM is staying at West Qurna-1 at least until next year but also will move ahead to cut its share to shift focus to other projects.
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Company Description
Exxon Mobil Corporation is engaged in energy, involving exploration for, and production of, crude oil and natural gas, manufacture of petroleum products and transportation and sale of crude oil, natural gas and petroleum products.