News for Exxon Mobil
Feb 24 · 12:31:00 AM · Source: Forbes
A strike squeezing French oil refineries spread Tuesday to facilities owned by ExxonMobil, raising the pressure on Total SA and the government to ward off gas shortages.
Workers at an ExxonMobil-owned Esso depot joined in the walkout Tuesday to support their Total colleagues, who have been striking since last week over plans to close a plant in northern France.
The Esso depot in Port Jerome, on the English Channel, was closed before dawn for lack of workers, CGT union organizer Laurent Delaunay said. Workers at an Esso refinery in neighboring Notre-Dame-de-Gravenchon, France's second-largest refinery, were set to walk out later Tuesday.
Together, Total and Esso refineries account for about 70 percent of France's refining capacity.
A prolonged strike and serious gas shortages could be bruising for French President Nicolas Sarkozy's government as it faces regional elections in less than three weeks. The refinery blockages come amid other acts of unrest among French workers, including an air traffic controllers' strike canceling hundreds of flights Tuesday.
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by Michael Oliveto
Feb 24 · 12:27:00 AM · Source: Company Press Release
Qatar Petroleum and Exxon Mobil Corporation announced the Al Khaleej Gas-Phase 2 (AKG-2) project, with 1,250 million cubic feet per day (mcfd) of sales gas capacity, initiated operations in December 2009.
The new facilities are designed to meet the growing demand of local industries. Combined with Al Khaleej Gas-Phase 1 (AKG-1), which began production in 2005, AKG will have a total capacity of 2,000 mcfd, making it the largest source of domestic gas supply in the State of Qatar.
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by Michael Oliveto
Feb 23 · 8:13:00 AM · Source: The New York Times
Energy industry insiders say a new House probe of hydraulic fracturing is unlikely to hinder development of new domestic shale gas plays or stall a massive merger between Exxon Mobil Corp. and a large independent gas producer. The House Energy and Commerce Committee's two top Democrats asked eight oil-field service firms last week for details about chemicals they use during hydraulic fracturing, a decades-old drilling technique that blasts sand, chemicals and water into a wellbore to break apart compact rock and release hydrocarbons. The lawmakers also publicized for the first time details of a similar investigation that revealed that two drillers used diesel in their fracturing fluids in violation of a voluntary agreement with U.S. EPA.
Moves by Energy and Commerce Chairman Henry Waxman (D-Calif.) and Rep. Ed Markey (D-Mass.), who chairs the Energy and Environment Subcommittee, come after months of congressional debate about the drilling technique, which has helped open access to massive domestic natural gas plays and also has raised concerns among environmentalists and some lawmakers about the technique's environmental impacts and whether it is adequately regulated by individual states.
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by Jeffrey Epstein
Feb 16 · 2:38:00 PM · Source: Company Press Release
Exxon Mobil Corporation announced today that additions to its proved reserves in 2009 totaled 2.0 billion oil-equivalent barrels, replacing 133 percent of production. Excluding the impact of asset sales, reserves additions replaced 134 percent of production.
“ExxonMobil is an industry leader in reserves replacement,” said Rex W. Tillerson, chairman and chief executive officer. “We have replaced more than 100 percent of production for 16 consecutive years, reflecting our strategic focus on resource capture, a disciplined approach to investment and excellence in project execution. Adding new reserves ensures that ExxonMobil will continue to develop new supplies of energy to meet future demand and support economic growth and improved standards of living."
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by Michael Oliveto
Feb 9 · 1:57:00 PM · Source: Reuters
Ghana has not blocked a planned $4 billion oilfield stake sale by Kosmos Energy to Exxon Mobil but still threatens to do so if the parties do not abandon the deal, a government source said on Tuesday.
The source said the government had written to Exxon about the deal but had not gone beyond repeating the threat.
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by Michael Oliveto
Dec 31 · 2:43:00 PM · Source: Bloomberg
Exxon Mobil would have to halt some construction activities on a planned C$16.2 billion ($15.4 billion) Canadian pipeline for more than five months every year to protect wildlife, a government-appointed panel said.
The proposed 1,220-kilometer (758-mile) natural-gas pipeline from Canada’s Northwest Territories to a US-bound hub in Alberta would make “a positive contribution,” provided the energy companies backing the project and government regulators agreed to take extra measures to protect birds, grizzly bears, caribou, fish and the water supply, the Joint Review Panel for the Mackenzie Gas Project said today in a report.
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by Michael Oliveto
Dec 31 · 2:40:00 PM · Source: Business Wire
The ExxonMobil Educational Alliance Program announced today it awarded $1.8 million in grants this year to 2,400 schools to enhance math and science programs across the United States.
It is the 10th consecutive year for the program, which has provided grants to K-12 educational institutions in 42 states and the District of Columbia. Local schools are eligible to apply for Educational Alliance grants by partnering with their nearby Exxon or Mobil branded retailer, the vast majority of which are independently owned and operated. Since 2000, the program has contributed more than $18 million to local schools through Exxon and Mobil retailers.
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by Michael Oliveto
Dec 29 · 3:55:00 PM · Source: Reuters
Russia's Gazprom expects to wrap up a deal on gas supplies from the ExxonMobil - led Sakhalin-1 project next year, Gazprom's deputy head told reporters on Monday.
ExxonMobil has said it is studying all options for selling gas from Sakhalin-1, which is owned by a consortium that also includes Russian oil firm Rosneft, Japan's Itochu and Marubeni and India's ONGC.
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by Michael Oliveto
Dec 29 · 3:52:00 PM · Source: Scandanavian Oil and Gas Magazine
Exxon Mobil Corporation, through its affiliate Esso Exploration Angola (Block 15) Limited (Esso Angola), declared $3.5 million in grants for public health and education programs in Angola.
The ten grants, provided by the ExxonMobil Foundation, are aimed at combating malaria and expanding educational opportunities for women. The grants will be disbursed in partnership with national and international non-governmental organizations.
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by Michael Oliveto
Dec 14 · 1:30:00 PM · Source: Bloomberg.com
Exxon Mobil agreed to buy XTO Energy Inc. for $31 billion. Owners of XTO will get 0.7098 share of Exxon for each of their shares, the companies said today in a statement. The transaction values XTO at $51.69 a share, 25 percent higher than its last closing price.
XTO is the largest producer of U.S. natural gas. This is a bet by Exxon Mobil that U.S. emissions restrictions will spur increased demand for natural gas.
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by Rich Pike
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