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Stock Market & Financial Investment News

News Breaks
June 19, 2014
08:05 EDTXOM, JECExxon Mobil Chemical begins multi-billion dollar expansion project
ExxonMobil (XOM) Chemical announced that it has started construction of a multi-billion dollar ethane cracker at its Baytown, Texas, complex and associated premium product facilities in nearby Mont Belvieu. The project will employ about 10k construction workers, create 4k related jobs in nearby Houston communities and add 350 permanent positions at the Baytown complex. It is expected to increase regional economic activity by roughly $870M per year and generate more than $90M per year in additional tax revenues for local communities. Contracts have been awarded for construction, which will begin immediately. Contracts have been awarded to Linde Engineering North America, and Bechtel Oil, Gas and Chemicals to build olefins recovery units at the ExxonMobil Baytown Olefins Plant. Mitsui Engineering & Shipbuilding and Huertey Petrochem will construct the new olefins furnaces. At the Mont Belvieu Plastics Plant, Mitsubishi Heavy Industries will construct two 650k tons-per-year high-performance polyethylene lines. Jacobs Engineering (JEC) will oversee enabling works and interconnections at both locations. Dashiell and Wood Group Mustang will provide specialty contracting services
News For XOM;JEC From The Last 14 Days
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September 16, 2014
10:47 EDTXOMBadri sees OPEC lowering oil output target at next meeting, Reuters says
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07:47 EDTJECJacobs Engineering ups ownership in Jacobs ZATE
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07:46 EDTJECJacobs Engineering awarded contract option at NASa Marshall Space Flight Center
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07:19 EDTXOMCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
September 12, 2014
07:28 EDTXOMExxon Mobil at risk from sanctions on Russia, WSJ says
New sanctions enacted by the U.S. and the EU against Russia over the ongoing conflict in Ukraine threaten one of Exxon Mobil's best chances to find and tap significant amounts of crude oil via its partnership with Russia's state-owned oil company OAO Rosneft, said The Wall Street Journal. A U.S. official said the new sanctions would affect Exxon's current drilling in the Kara Sea with Rosneft, though the extent of the impact was unclear, the Journal added. Reference Link
September 10, 2014
08:22 EDTXOMBofA/Merrill oil and gas analysts hold an analyst/industry conference call
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September 9, 2014
07:45 EDTJECJacobs Engineering receives contract extension from EDF Energy
Jacobs Engineering Group announced that its contract to provide project services to EDF Energy for its eight nuclear power station sites in the United Kingdom has been extended. Company officials did not disclose the contract value, but noted that the contract is extended by 12 months with an option for a further 12 months. Jacobs is providing a range of project services to support EDF Energy’s program of maintenance and life extension projects at the stations. EDF Energy’s eight stations have a combined capacity of almost 8.8 million kilowatts, making it the UK’s largest generator of low carbon electricity.
September 5, 2014
11:20 EDTJECJacobs joint venture selected by FDOT
Jacobs Engineering announced today its joint venture with HDR is part of the I-4 Mobility Partners team selected by the Florida Department of Transportation to deliver the I-4 Ultimate Project in Orange and Seminole Counties, Florida. I-4 Mobility Partners is comprised of Skanska Infrastructure Development and John Laing, Skanska, Granite, Lane Construction Joint Venture, and HDR and Jacobs as the Design Joint venture. Under the terms of the contract, the HDR/Jacobs joint venture is delivering final design of the project, including roadway/traffic control, drainage, structures, intelligent traffic systems, signing and signalization, lighting, landscaping and aesthetics. The $2.32B I-4 Ultimate project includes the reconstruction of 21 miles of I-4, reconstructing 15 major interchanges, constructing more than 140 bridges, adding four variable priced toll express lanes in the median, and completely rebuilding the general use lanes along the entire corridor. The project is being procured by FDOT as a public-private partnership.
September 3, 2014
17:19 EDTXOMExxon Mobil announces Slagen Refinery project to upgrade fuel oil
ExxonMobil affiliate Esso Norge AS announced plans to install a new processing unit at the Slagen refinery to enable production of high quality vacuum gas oil, a higher-yield feedstock used to create finished products such as diesel. The new residual flash tower is an upgrading unit that will improve the facility’s overall crude distillation process by replacing production of heavy fuel oil with lighter, higher-value gas oil.

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