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Stock Market & Financial Investment News

News Breaks
December 28, 2012
17:05 EDTXOMExxon Mobil commissions Singapore petrochemical plant expansion
ExxonMobil has commenced startup operations at one of the world's largest ethylene steam crackers, the centerpiece of the company's multi-billion dollar expansion project at its Singapore petrochemical complex. The expansion, powered by a new 220-megawatt cogeneration plant, adds 2.6M tonnes per year of new finished product capacity. The expansion will increase the chemical plant workforce by 50%, bringing total employment at ExxonMobil's Singapore integrated refining and chemical complex to 1,800. Operations at the plant mark the first production by ExxonMobil of its proprietary specialty elastomers and metallocene-based polyethylene in the Asia Pacific region.
News For XOM From The Last 14 Days
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November 28, 2014
06:54 EDTXOMExxon Mobil volatility elevated at WTI trades below $70
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06:23 EDTXOMOPEC maintains production level to restore 'market equilibrium'
The Organization of the Petroleum Exporting Countries said in a press release following its meeting yesterday, "Recording its concern over the rapid decline in oil prices in recent months, the Conference concurred that stable oil prices – at a level which did not affect global economic growth but which, at the same time, allowed producers to receive a decent income and to invest to meet future demand – were vital for world economic wellbeing. Accordingly, in the interest of restoring market equilibrium, the Conference decided to maintain the production level of 30.0 mb/d, as was agreed in December 2011. As always, in taking this decision, Member Countries confirmed their readiness to respond to developments which could have an adverse impact on the maintenance of an orderly and balanced oil market." Publicly traded companies in the refining space include Delek US (DK), HollyFrontier (HFC), Marathon Petroleum (MPC), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). Publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Stocks globally are trading lower Friday following OPEC's decision.
November 27, 2014
10:25 EDTXOMOPEC decided not to cut oil production, CNBC reports
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November 26, 2014
06:51 EDTXOMExxon Mobil volatility increase into OPEC meeting
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06:42 EDTXOMSaudis unlikely to seek oil output changes, Reuters reports
Saudi Arabia indicated today that it probably won't seek major changes in OPEC's oil output during the group's meeting this week, according to Reuters. The oil market should "stabilize itself" eventually, the news service quoted Saudi Oil Minister Ali al-Naimi. as saying OPEC members Venezuela and Iraq have called for output cuts, while non-OPEC member Russia said it would not reduce production, the news service stated. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).Reference Link
05:53 EDTXOMStocks with implied volatility movement; BHI XOM
Stocks with implied volatility movement; Baker Hughes (BHI) 36, Exxon Mobil (XOM) 17 according to iVolatility.
November 25, 2014
13:01 EDTXOMOPEC leans toward compromise to cut supplies, WSJ says
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07:05 EDTXOMNuverra Environmental announces contract with XTO Energy for pipeline services
Nuverra Environmental (NES) announced that it has entered into a long-term definitive agreement with XTO Energy, a subsidiary of Exxon Mobil (XOM), to provide water-related pipeline services in McKenzie County, North Dakota. Under the agreement, Nuverra will build the 150-mile McKenzie County Pipeline Network to provide produced water gathering and disposal services and fresh water delivery. The XTO agreement is a long-term, fee-based gathering agreement. The Network will serve XTO's dedicated acreage, as well as other operator wells in the area. The Network will feature fixed, buried pipelines, which will include a gathering line to transport produced and flowback water for disposal or recycling and a distribution line for fresh water delivery. The Network is projected to cost $125M-$150M, based on current engineering and construction specifications, with completion during the fourth quarter of fiscal 2015. Construction is expected to begin in May 2015.
November 24, 2014
10:00 EDTXOMOn The Fly: Analyst Downgrade Summary
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06:47 EDTXOMExxon Mobil downgraded to Market Perform from Outperform at Raymond James
Raymond James downgraded Exxon Mobil to Market Perform given limited leverage to potential improving oil prices.
November 23, 2014
19:12 EDTXOMIran may suggest 1M barrel a day cut at OPEC meeting, Bloomberg says
According to media reports in Iran, the Iranian oil minister Bijan Namdar Zanganeh may speak with Saudi Arabia’s Oil Minister Ali Al-Naimi on the sidelines of the OPEC meeting in Vienna this week to propose that OPEC cut its output target by as much as 1 million barrels a day, says Bloomberg. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
November 18, 2014
18:26 EDTXOMKeystone pipeline legislation voted down by U.S. Senate
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November 17, 2014
07:12 EDTXOMBloomberg / Mayer Brown to co-host a conference
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