ExxonMobil is increasing its investment in Asian chemicals plants because of an expected sustained surge in future Chinese and Indian chemicals demand. T.J. Wojnar, the senior vice president who oversees Exxon Mobil's worldwide chemicals business, tells Bloomberg that China's appetite for chemicals
http://www.purchasing.com/article/357570-Exxon_expands_in_China.php
BAGHDAD, Nov 5, 2009 (UPI via COMTEX) --
The Iraqi Oil Ministry granted Exxon Mobil Corp. and Royal Dutch Shell the rights to the West Qurna-1 oil field, awarding the contract over two other bids.
Lukoil, a Russian firm, along with ConocoPhillips submitted a bid for development rights, as did CNPC, The Wall Street Journal reported Thursday.
Aside from Occidental Petroleum Corp.'s involvement as a junior partner in a Eni SpA-led proposal granted a contract for oil development in Southern Iraq a week ago, the new deal is the first access to its oil reserves Iraq has given to a U.S. company.
The deal requires approval from the Iraqi cabinet, said oil ministry spokesman Assem Jihad.
In a June auction for the development rights, Exxon originally asked for a $4 per barrel payment, the fee applicable to oil extraction that exceeds current production levels, the Journal said.
Lukoil had asked for $6.49 per barrel, while CNPC was seeking $2.60 per barrel.
In June, the three firms rejected the Iraqi offer of $1.90 per barrel. Since then, all three capitulated and agreed to the terms.
Oil reserves at West Qurna-1 are expected to hold 8.7 billion barrels, the newspaper said.
www.upi.com
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Tags: cabinet contract iraq oil petroleum russia
Companies: ConocoPhillips (COP)
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Nov 04, 2009 (SmarTrend(R) News Watch via COMTEX) --
11/4/2009 - Exxon Mobil (NYSE:XOM) said its affiliate TonenGeneral and Toray Industries will establish a joint venture to develop, manufacture, and sell lithium ion battery separator film and introduce next generation films to the market. The film allows for the units to operate at higher temperatures with a reduced risk of meltdown. Each company will own a 50% interest in the joint venture and will be headquartered in Tokyo.
Write to Chip Brian at cbrian@tradethetrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.
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Tags: film joint venture manufacturer market nyse securities tokyo
Companies: Exxon Mobil Corp. (XOM)
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Oct 29, 2009 (SmarTrend(R) News Watch via COMTEX) --
10/29/2009-Exxon Mobil (NYSE:XOM) reported Q3 EPS of 98 cents, missing consensus estimates of $1.03. Revenues in the quarter fell 40.3% to $82.3 billion, but came in ahead of consensus estimates of $79.3 billion. Oil-equivalent production rose almost 3% from the year-ago period. Excluding the impacts of entitlement volumes, OPEC quota effects and divestments, production rose approximately 5%. Exxon said that it purchased 61 million shares of its common stock for a gross cost of $4.2 billion.
Write to Chip Brian at cbrian@tradethetrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.TradeTheTrend.com.
Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.TradeTheTrend.com/signup.html
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Tags: earnings eps market nyse oil opec securities
Companies: Exxon Mobil Corp. (XOM)
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Oct 28, 2009 (Fresh Brewed Media via COMTEX) --
Exxon Mobil (NYSE: XOM) closed yesterday at $74.91. So far the stock has hit a 52-week low of $61.86 and 52-week high of $83.64. Exxon Mobil stock has been showing support around 72.70 and resistance in the 76.10 range. Technical indicators for the stock are Bullish and S&P gives XOM a very positive 5 STAR (out of 5) strong buy rating. XOM appears on the Investors Observer Analysts Favorites list. For a hedged play on this stock, look at an Apr '10 70 covered call (XOM DN) for a net debit in the $67.71 area. That is also the break even stock price for this trade. This covered call has a 171 day duration, provides 9.61% downside protection and a 3.38% assigned return rate for a 7.22% annualized return rate (comparison purposes only). A lower cost hedged play for this stock would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the XOM Jan '11 55 Call (ODU AK) and selling the Apr '10 70 call (XOM DN) for a $13.30 debit. The trade has a 171 day life and would provide 8.82% downside protection and a 12.78% assigned return rate for a 27.00% annualized return rate (for comparison purposes only). Exxon Mobil has a current annual dividend yield of 2.28%.
WBA-Seven Summits Research
Goto www.iotogo.com/18w1 for our free report titled, The 18 Ways To Know When It's Time To Dump A Stock
Tags: nyse research S&P trade yield
Companies: Exxon Mobil Corp. (XOM)
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Exxon was late getting onto the Caspian in the 1990s, but it still ended up with pieces of prime real estate. On the Baku side, deputy Energy Secretary Bill White interceded to get it a piece of the offshore after Exxon stood on the sidelines while its rivals slugged it out.
http://www.energybulletin.net/node/49572
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Get 15¢ per gallon rebates Apply for an ExxonMobil MasterCard and get 15¢ per ... © Copyright 2002 Exxon Mobil Corporation. All Rights Reserved. ExxonMobil Home | Help | ...
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