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Stock Market & Financial Investment News

News Breaks
February 13, 2013
10:41 EDTXOMExxon Mobil, Rosneft expand strategic cooperation
Rosneft and ExxonMobil have agreed to expand their cooperation under their 2011 Strategic Cooperation Agreement to include an additional approximately 600,000 square kilometers of exploration acreage in the Russian Arctic and potential participation by Rosneft in the Point Thomson project in Alaska. They have also agreed to conduct a joint study on a potential LNG project in the Russian Far East. The agreements include plans to explore seven new blocks in the Chukchi Sea, Laptev Sea and Kara Sea. A separate Heads of Agreement was signed providing Rosneft an opportunity to acquire a 25% interest in the Point Thomson Unit, which covers development of a remote natural gas and condensate field on Alaska’s North Slope. It is estimated that Point Thomson contains approximately 25% of the known gas resource base in Alaska’s North Slope. Rosneft and ExxonMobil also executed a Memorandum of Understanding to jointly study the economic viability of an LNG development in the Russian Far East, including the possible construction of an LNG facility. The companies will form a joint working group, which is expected to commence work in the coming weeks to study the viability of an LNG project using available natural gas resources.
News For XOM From The Last 14 Days
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May 22, 2015
10:21 EDTXOMExxon Mobil says media reports on Iran sanctions lobbying inaccurate
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May 20, 2015
13:15 EDTXOMExxon Mobil announces significant oil discovery offshore Guyana
Exxon Mobil announced a significant oil discovery on the Stabroek Block, located approximately 120 miles offshore Guyana. The well was drilled by ExxonMobil affiliate, Esso Exploration and Production Guyana Ltd., and encountered more than 295 feet of high-quality oil-bearing sandstone reservoirs. It was safely drilled to 17,825 feet in 5,719 feet of water. Stabroek Block is 6.6M acres. The well was spud on March 5. The well data will be analyzed in the coming months to better determine the full resource potential. Esso Exploration and Production Guyana Ltd. holds 45% interest. Hess Guyana Exploration Limited holds 30% interest and CNOOC Nexen Petroleum Guyana Limited holds 25% interest.
May 15, 2015
06:44 EDTXOMEnvironmentalists file lawsuit over oil train safety rules, NY Times says
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