The chief executive officer of U.S. oil major Exxon Mobil Corp was awarded a $4 million bonus in 2008 and will receive a 10 percent increase in his annual salary in 2009, according to a regulatory filing. For full story, click here
Exxon Mobil Corp and Turkey’s state-run oil company, TPAO, signed a deal Wednesday for the joint exploration and development of oil and natural gas off its Black Sea coast. For full story, click here
Petroleos Mexicanos is likely to award the company’s first external oil production and exploration contract by the end of 2009, as it targets producers such as Exxon Mobil Corp, Shell Plc and Chevron Corp. For full story, click here
Exxon Mobil Corp recorded rise in its quarterly profit beating estimates, on higher profit in its exploration and production business and improved margins in its refining unit. Mark Coffelt, head portfolio manager at Empiric Advisors Inc, said: Exxon is very good at what they do and they are too large a company to respond to gyrations [...]
Clearly Monday was not particularly good news for oil companies. With futures settling below $90 per barrel, ($87.81 when Benchmark went to proofing) the industry is seeing the lowest prices since February.
Though ConocoPhillips (NYSE:COP) and Placid Refining Company are both receiving hundreds of thousands of barrels of crude from America’s federal reserves to continue refinery operations, and two rigs in the Gulf have been knocked adrift, the overall impact of Ike appears fairly benevolent to energy companies.
Exxon Mobil and StatoilHydro of Norway are stepping up exloration efforts in Ireland as it gets harder to access new fields elsewhere. Andrew Harwood, an energy analyst at Wood Mackenzie, said: The majors are looking for new places to explore and the favorable tax rate in Ireland. For full news, click here
Exxon Mobil is among the US companies that wish to extract oil reserves from the Black Sea. For full news, click here
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