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Exxon Mobil Corporation (XOM)

  • Apr. 15, 2013, 10:49 AM
    Alaska lawmakers on Sunday gave final approval to a bill backed by top North Slope producers Conoco (COP), BP and Exxon (XOM) to slash state oil production taxes, doing away with a methodology that increases tax rates as oil prices rise. Supporters say the cut will set the stage for future growth as Alaska tries to reverse declining oil output; critics say it will severely damage the state's finances.
    | Apr. 15, 2013, 10:49 AM | 2 Comments
  • Apr. 15, 2013, 10:16 AM
    Higher pay for insiders at Exxon (XOM) and Chevron (CVX) should translate to higher pay for common shareholders, Jon Ogg writes as he predicts dividend hikes. CVX already enjoys a 3% yield and XOM pays 2.6%, so Ogg expects XOM to raise its dividend by a higher percentage than CVX. Both pay out a bit less than 30% of their expected forward earnings, so they can raise dividends handily if they choose.
    | Apr. 15, 2013, 10:16 AM | 4 Comments
  • Apr. 12, 2013, 6:21 PM
    Petrobras' (PBR) worst debt situation in a decade may be boosting the chances it will step aside and let Exxon (XOM) and Shell (RDS.A) buy offshore exploration licenses in Brazil's upcoming first-in-six-months auction, Bloomberg says. XOM is said to have been the most active in requesting data about the acreage Brazil is offering next month to take advantage of PBR holding back.
    | Apr. 12, 2013, 6:21 PM | 4 Comments
  • Apr. 12, 2013, 12:34 PM
    Exxon Mobil (XOM) says CEO Rex Tillerson’s total compensation reached $40.2M last year, up 15% Y/Y, with much of the increase due to a change in pension value and other deferred compensation earnings. Tillerson's salary rose to $2.5M from $2.4M; effective Jan. 1, his salary increased to $2.7M.
    | Apr. 12, 2013, 12:34 PM | 17 Comments
  • Apr. 11, 2013, 12:15 PM
    Exxon (XOM) and Rosneft (RNFTF.PK) say they could spend $15B building a gas liquefaction plant on Russia's Pacific coast in a move to jump start the country's attempts to ship the fuel to Asian markets. The companies in February said they would study the feasibility of the plant, but the new comments provide the first indication of the scale and timing of their plans.
    | Apr. 11, 2013, 12:15 PM | 2 Comments
  • Apr. 10, 2013, 10:34 AM
    Exxon Mobil (XOM -0.5%) is downgraded to Underweight with an $85 price target (from $90) at Morgan Stanley, which prefers Chevron's (CVX +0.2%) expected relatively higher production growth and relatively improving returns in each of the next five years. Modeling the 15 top growth projects for CVX and XOM, the firm sees CVX's projects driving 4% higher relative upstream ROCE over five years.
    | Apr. 10, 2013, 10:34 AM | 1 Comment
  • Apr. 9, 2013, 2:43 PM
    A New Hampshire jury says Exxon Mobil (XOM +0.7%) should pay $236M in damages after finding the company negligent when it added MTBE to gasoline and contaminated the state’s drinking water. XOM had maintained it was complying with a federal mandate to reduce air pollution when it added MTBE to gasoline, and that the chemical hadn’t harmed anyone.
    | Apr. 9, 2013, 2:43 PM | 3 Comments
  • Apr. 9, 2013, 9:14 AM
    CenterPoint Energy (CNP) signs a long-term agreement with Exxon Mobil (XOM) subsidiary XTO Energy to gather XTO's crude oil production through a new crude oil gathering and transportation pipeline system in North Dakota's Bakken shale. The agreement is the first secured for the proposed pipeline, which will have a capacity to gather 19.5K bbl/day.
    | Apr. 9, 2013, 9:14 AM | Comment!
  • Apr. 7, 2013, 2:31 AM
    Two residents of Mayflower in Arkansas have sued Exxon Mobil (XOM) for over $5M for the pipeline rupture that caused thousands of barrels of oil to spill out and damage their properties. With the Arkansas AG's office investigating the spill, the resident's lawsuit could be followed by more.
    | Apr. 7, 2013, 2:31 AM | 4 Comments
  • Apr. 5, 2013, 3:31 PM
    Exxon Mobil (XOM) closes a deal to buy an 80% interest in an offshore Liberia oilfield, an important step toward development of the country's resources. The deal, which adds heft to Liberia's nascent oil industry, comes as the impoverished west African state is seeking to overhaul its energy policy and bolster transparency.
    | Apr. 5, 2013, 3:31 PM | 5 Comments
  • Apr. 5, 2013, 8:26 AM
    Sasol (SSL) says it seeking a buyer for its Papua New Guinea assets, apparently giving up on plans to develop a gas-to-liquids project there. Interest among international energy companies in the country’s gas potential remains high, with an estimated 26T cubic feet of natural gas which could be developed for export to Asia.
    | Apr. 5, 2013, 8:26 AM | 6 Comments
  • 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.
    | Apr. 4, 2013, 4:59 PM | 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.
    | Apr. 3, 2013, 4:40 PM | 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).
    | Apr. 3, 2013, 10:53 AM | Comment!
  • 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.
    | Apr. 3, 2013, 9:54 AM | 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.
    | Apr. 3, 2013, 9:43 AM | 1 Comment
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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.