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Exxon Mobil Corporation (XOM)

  • Feb. 8, 2013, 5:45 PM
    Exxon Mobil's (XOM) hiring of a former U.S. ambassador to Iraq to help handle its dilemma over whether to operate in the south of the country or honor its deals with the autonomous Kurdistan region is viewed by some as an indication it may be willing to scale down in Kurdistan. The U.S. government fears too much energy independence could precipitate a breakup of the country.
  • Feb. 8, 2013, 8:45 AM
    Exxon Mobil (XOM) declares force majeure on some of Nigeria's benchmark Qua Iboe crude oil exports because of repair work on a section of pipeline. Traders say ~75% of exports from Qua Iboe are affected. Qua Iboe is Nigeria's largest crude oil stream, with exports before the force majeure expected at ~400K bbl/day.
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  • Feb. 4, 2013, 11:54 AM
    ExxonMobil (XOM -1%) shares remain under pressure after reporting a drop in production volumes over the past year. XOM will need to continue to replace older oil fields with new ones, but that's easier said than done, and only time will tell if the assets can be developed into lucrative production centers. For now, Brian Stutland thinks it makes sense to hedge some of the downside risk in the stock.
  • Feb. 4, 2013, 8:54 AM
    Genesis Energy (GEL) plans to invest ~$125M to improve existing assets and develop new infrastructure in Louisiana to connect to Exxon Mobil's (XOM) Baton Rouge refinery, which GEL says will be one of the largest refinery complexes in North America with more than 500K bbl/day of refining capacity. GEL says it will pay for the deal with funds available under its revolving credit facility.
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  • Feb. 1, 2013, 3:56 PM
    Exxon Mobil (XOM +0.1%) and Chevron (CVX +1.2%) both posted Q4 earnings beats (I, II), but only CVX is getting some love today. XOM “needs multiple projects to offset declining production,” but it hasn’t announced substantial projects for some time, Edward Jones' Brian Youngberg says. At CVX, output is higher and "you see the potential for them to accelerate," plus it's more profitable on a per-barrel basis.
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  • Feb. 1, 2013, 11:44 AM
    Look no farther than Exxon's (XOM) Q4 results - even if rather lackluster - for the damage government interference has done to Petrobras (PBR), Ben Levisohn writes. XOM improved profits to $2.20/share from last year's $1.97 largely because refining margins rose. PBR has been hammered because Brazil's government hasn't allowed it to raise fuel prices to levels it needs to pay to import oil for refining.
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  • Feb. 1, 2013, 10:30 AM
    Exxon Mobil (XOM) and Kurdistan officials reportedly visited an oil exploration block caught in a dispute between Iraq's central government and the autonomous Kurdish region, and discussed building a camp there. The visit comes as XOM weighs whether to stay or pull out of its huge West Qurna oilfield in the Iraqi south or keep its Kurdistan fields; both sides seem to think XOM will stay with them.
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  • Feb. 1, 2013, 9:54 AM
    Fines amounting to $8B sought by Nigeria from Shell (RDS.A) and Chevron (CVX) for oil spills are not backed by law, according to the chairman of the country’s Senate Committee on Environment. That doesn't mean laws won't be changed, but observers say tough measures are unlikely to be enforced against companies engaged in partnerships with the government.
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  • Feb. 1, 2013, 8:19 AM
    More on Exxon's (XOMQ4 results: On an oil-equivalent basis, production fell 5.2% Y/Y; excluding impacts of entitlement volumes, OPEC quota effects and divestments, production fell 2.1%. Upstream earnings were $7.76B, -12% Y/Y. Downstream earnings were $1.76B vs. $425M in the year-ago period, driven by stronger refining margins. Shares +0.8% premarket.
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  • Feb. 1, 2013, 8:06 AM
    Exxon Mobil (XOM): Q4 EPS of $2.20 beats by $0.21. Revenue of $115.17B (-5.3% Y/Y) misses by $0.05B. (PR)
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  • Feb. 1, 2013, 12:05 AM
    Notable earnings before Friday’s open: AON, BEAM, BEN, BPO, CVX, HCLP, IR, LM, LYB, MAT, MRK, NOV, NS, NWL, PRGO, TSN, WETF, XOM
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  • Jan. 31, 2013, 5:30 PM
    Notable earnings before Friday’s open: AON, BEAM, BEN, BPO, CVX, HCLP, IR, LM, LYB, MAT, MRK, NOV, NS, NWL, PRGO, TSN, WETF, XOM
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  • Jan. 30, 2013, 5:59 PM
    Macquarie downgraded Exxon Mobil (XOM) to Neutral today because it doesn't believe shares have much more room to move to the upside after nearing all-time highs. The firm sees XOM struggling to generate production growth in both 2013 and 2014, adding that the pace of stock buybacks will slow to $15B for 2013 and possibly $10B the next year.
  • Jan. 30, 2013, 3:49 PM
    Exxon Mobil Corporation (XOM) declares $0.57/share quarterly dividend, in line with previous. Forward yield 2.52%. For shareholders of record Feb. 11. Payable Mar. 11. Ex-div date Feb. 07. (PR)
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  • Jan. 28, 2013, 3:36 PM
    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.
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  • Jan. 25, 2013, 12:50 PM
    Exxon (XOM +0.2%) again surpasses Apple (AAPL -2.6%) as the world's most valuable company - $417.5B in market cap vs. $412.5B - after the latter's shares slide 14.5% since its earnings report earlier this week. It's a tortoise vs. hare tale: "You have one company that had pretty high expectations for it for the future, and you have Exxon that continues to chip away slow and steady," one analyst sums up.
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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.