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SATURDAY, NOVEMBER 21, 2009
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NEWS ABOUT: ExxonMobil

ExxonMobil stories: 31 news summaries

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In Televised Auction of Oil Contracts, Iraq Plays Hardball

Oil ministry plays hardball on prices

Jun 30, 09 7:34 AM CDT
(Newser) - The Iraqi oil industry has been nationalized since 1972, but today the country is awarding the first contracts in decades to private petroleum companies—live on television. So far a joint bid by British Petroleum and a Chinese firm has won the first contract, for a 17 billion-barrel field in... More »

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Iraq • oil • Iraq oil • ExxonMobil • auction • oil companies • British Petroleum

Market Open

 Stocks, Oil Jump Together 


Jun 10, 09 8:49 AM CDT
(Newser) - Stocks jumped at the open today, with the Dow up 61 points, the Nasdaq adding 0.5%, and the S&P gaining 0.7%, powered by strong moves in its energy and basic materials sectors. That was due in part to the surge in fuel prices, with oil clearing $71... More »

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stock market • Exxon • Chevron • Dow Jones • ExxonMobil • Nasdaq • Caterpillar • commodities • S&P 500 • Exxon Mobil • oil prices

 20 Years After Spill, 
 Valdez Oil 'Harmless' 

Few remaining deposits don't threaten life in Alaskan waters: scientists

Dec 16, 08 4:48 PM CST
(Newser) - Nearly 20 years after the Exxon Valdez spill, what little oil remains in the soiled Prince William Sound is harmless to plant and animal life, scientists agree. The last oil deposits remain deep in the cracks between shoreline rocks, inaccessible to animals and degraded enough to be "biologically insignificant.... More »

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environment • Alaska • Exxon • oil spill • ExxonMobil • Exxon Valdez • Exxon oil spill

 Supplies Drop as Big Oil's Power Shrivels

State-owned firms don't churn it out like Shell

Aug 19, 08 2:55 AM CDT
(Newser) - A rapidly changing world order has left the giant oil companies all monied up with nowhere to drill, the New York Times reports. The Western oil giants' share of production has plummeted from over half in the 1970s to just 13% today. Production is falling as oil supplies remain in... More »

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OPEC • ExxonMobil • Royal Dutch Shell • oil supply • oil exploration • oil companies • peak oil

(Newser) - ExxonMobil reported the biggest quarterly profit in US history today, earning $11.68 billion or $2.22 a share as revenues rose 40% over the previous year. But those stratospheric numbers fell short of Wall Street’s estimates; analysts had expected crude prices, which have doubled over the past year,... More »

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ExxonMobil • earnings reports • second quarter earnings • oil prices

Rockefellers Pump Exxon Execs for Changes

Family wants independent chairman, climate change initiatives

May 24, 08 1:58 PM CDT
(Newser) - Executives at Exxon are bracing for an onslaught from the Rockefeller family, whose patriarch founded the oil firm’s predecessor a century ago, the Wall Street Journal reports. Led by John D. Rockefeller’s great-granddaughter, the family wants Exxon to pursue renewable forms of energy and appoint an independent chairman. More »

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oil • global warming • shareholders • ExxonMobil • John D. Rockefeller • Rockefeller family • Rex Tillerson

MARKETS

 Bad News Pummels Stocks 

AIG, Citi, oil spook investors; even commodities look less safe in downturn

May 9, 08 3:28 PM CDT
(Newser) - Stocks performed poorly today, battered by another new oil high and bad news from AIG and Citigroup, Bloomberg reports. The Dow lost 120.90 to end at 12,745.88, with a weekly loss of 2.4%. The S&P 500 shed 9.50 to 1,388.28, while the... More »

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Citigroup • Dow Jones • ExxonMobil • Nasdaq • AIG • oil price • crude oil • S&P 500 • financial stocks

Earnings

Exxon Profits Shoot Up 17%, But Still Miss Target

Rise smallest of the big three oil companies

May 1, 08 8:54 AM CDT
(Newser) - Exxon Mobil’s profits jumped 17% in the first quarter, but still fell short of expectations, Bloomberg reports. Exxon’s number, which was held back by drops in productions and refinery profit margins, looks shabby compared to the world’s other two largest oil companies, which posted 25% and 63%... More »

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ExxonMobil • earnings reports • oil refineries • oil price • oil production • first quarter earnings

 Rockefeller Clan Launches Green Revolt at Exxon

Demand new chairman, green agenda

Apr 30, 08 3:39 AM CDT
(Newser) - Exxon Mobil is facing a shareholder revolt by most of John D. Rockefeller's 300 descendants, who are pushing for the mammoth company to go greener, reports the Wall Street Journal. The Rockefellers are campaigning for Exxon to develop new energy technology, cut greenhouse gas emissions and appoint a new independent... More »

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climate change • greenhouse gases • shareholders • ExxonMobil • renewable energy • John D. Rockefeller • Rockefeller family • Neva Rockefeller Goodwin • Rockefeller Brothers Fund • Peter O'Neill • Rex Tillerson

 Wal-Mart Tops Fortune 500 

Exxon Mobil repeats 2007 performance, finishes second

Apr 21, 08 4:07 PM CDT
(Newser) - Wal-Mart nosed out Exxon Mobil for the second consecutive year to land atop the 2008 Fortune 500, with $37.7 billion in revenues, the magazine said today. In profits, the oil company far outstripped the megaretailer. Three of the top 5 on the list were oil companies, the AP reports.... More »

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Chevron • ConocoPhillips • Citigroup • Bank of America • General Motors • General Electric • ExxonMobil • Fortune 500 • Ford • Wal-Mart • AT&T

Congress Grills Oil Execs Over Skyrocketing Prices

Honchos place some blame at legislators' feet

Apr 1, 08 5:21 PM CDT
(Newser) - Top oil executives faced a panel of angry lawmakers on Capitol Hill today, as Congress fumed over the disparity between the companies’ hefty profits and soaring prices, the Washington Post reports. Said one rep, “I believe the laws of supply and demand when it comes to oil and gas... More »

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Congress • alternative energy • ExxonMobil • gas prices • oil companies • executives

Justices' Stock Portfolios Cripple Cases

Supreme Court left deadlocked by recusals amid calls to divest

Mar 7, 08 7:35 PM CST
(Newser) - The stock portfolios of Supreme Court justices have become a flash point this term, in which six cases could be affected by justices recusing themselves because they own financial stakes in companies involved. Chief Justice John Roberts, Justice Samuel Alito, and Justice Stephen Bryer have bowed out of cases involving... More »

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Samuel Alito • John Roberts • Anthony Kennedy • ExxonMobil • Pfizer • Stephen Breyer • Cisco • conflicts of interest • US Supreme Court

Oil Insanity Pinned to Speculators

Observers call current market 'hysteria' — and 'bubble'

Feb 28, 08 5:54 PM CST
(Newser) - Crude-oil prices have doubled in recent months, a development not linked to fundamental supply and demand—but rather, observers tell Der Spiegel, to rampant speculation among investors looking for a stable buck. The prospect of recession would typically drive prices down, but analysts say a decade-old oil investment rush by... More »

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oil • Persian Gulf • OPEC • ExxonMobil • Morgan Stanley • Deutsche Bank • recession • crude oil • New York Mercantile Exchange • speculation • pension funds • Mercuria • Cushing, Okla. • Oppenheimer & Co.

House Passes Bill to Halt Big Oil Tax Breaks

Veto threat as Republicans call it industry discrimination

Feb 28, 08 5:36 AM CST
(Newser) - Millions of dollars in tax breaks enjoyed by the top five oil companies would be rescinded under an $18 billion tax package which cleared the House of Representatives yesterday. The money saved would be plowed into creating alternative sustainable energy sources. It represents just a penny a gallon to the... More »

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oil • Exxon • Chevron • ConocoPhillips • BP • ExxonMobil • gas prices • tax breaks • $100 a barrel oil • foreign oil • corporate tax cuts • Conoco

Exxon Asks Court to Toss $2.5B Payout

Supreme's justices appear to be split
in Valdez case

Feb 27, 08 8:52 PM CST
(Newser) - Nearly 20 years after the Exxon Valdez spilled 11 million gallons of crude oil in Prince William Sound, the company asked the Supreme Court to reject a ruling that it pay $2.5 billion in punitive damages. Judges appeared split in today's arguments, USA Today reports, making a tie... More »

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John Roberts • Alaska • Ruth Bader Ginsburg • Anthony Kennedy • oil spill • ExxonMobil • class action • shipping • Exxon Valdez • Samuel A. Alito • US Supreme Court • Joseph Hazelwood

Venezuelan Prez
Threatens to Cut Off US Oil

If Exxon wins court action seeking assets, Chavez vows revenge

Feb 11, 08 3:00 AM CST
(Newser) - Venezuelan President Hugo Chavez is threatening to cut off US oil supplies if Exxon Mobil wins a court ruling to seize billions of dollars in Venezuelan assets, AP reports. The Texas-based oil giant has challenged Venezuela’s efforts to nationalize a multi-billion-dollar oil project, and the fiery leader promised an... More »

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oil • Venezuela • Chevron • ConocoPhillips • ExxonMobil • oil refineries • oil price • Hugo Chávez • oil company nationalization • Petroleos de Venezuela SA • George W. Bush

MARKETS

Stocks Climb on Microsoft News

Dismal labor report can't keep Dow down

Feb 1, 08 3:29 PM CST
(Newser) - Microsoft’s offer to buy Yahoo outweighed a dismal jobs report today as the Dow ended up 92.83 at 12,743.19 after a seesaw session. Hopes for a new M&A wave bumped up against fears of broad economic slowdown. “This is a trader’s market, because... More »

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Yahoo • Microsoft • Dow Jones • ExxonMobil • Nasdaq • S&P 500 • job

Exxon Posts Historic Profits

No US company has ever made more money, quarterly or annually

Feb 1, 08 8:00 AM CST
(Newser) - Exxon Mobil today reported the biggest quarterly and annual profit in US history, the Wall Street Journal reports, as record oil prices propelled net income up 14%, to $11.66 billion, or $2.13 per share. That topped analyst estimates, and investors rushed to the stock in pre-market trading. Annually,... More »

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energy • oil • ExxonMobil • earnings reports • quarterly profits

Sky-High Oil Will Reshape World Power, Dent US Clout

Power shifts as global economies change

Jan 3, 08 6:39 AM CST
(Newser) - The surging price of oil from $10 a barrel a decade ago to a record $100 today is remaking the global economy and altering the balance of power across the world, according to the Wall Street Journal. If oil prices continue to climb, as many experts predict, US political power... More »

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China • climate change • Russia • Middle East • Saudi Arabia • Venezuela • Vladimir Putin • International Monetary Fund • ExxonMobil • United Arab Emirates • oil price • fuel economy standards • $100 a barrel oil • Aramco • Abu Dhabi Investment Authority • US automakers

Mining Mergers May Take Page From Big Oil

Proposed consolidation could drive commodity prices even higher

Dec 18, 07 3:08 PM CST
(Newser) - When Anglo-Australian mining giant BHP Billiton announced its bid to merge with archrival Rio Tinto, the Wall Street Journal got déjà vu. The deal, which would combine the world’s largest and third-largest miners, looks a lot like the late-'90s megamergers that produced today’s Big Oil titans.... More »

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oil • mining • ExxonMobil • Rio Tinto • BHP Billiton Ltd.

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