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Stock Market & Financial Investment News

News Breaks
February 21, 2014
09:02 EDTXOMExxon Mobil announces 2013 reserves replacement totaled 103%
Exxon Mobil announced that it replaced 103% of its 2013 production by adding proved oil and gas reserves totaling 1.6 billion oil-equivalent barrels, including a 153% replacement ratio for crude oil and other liquids. At year-end 2013, ExxonMobil's proved reserves totaled 25.2 billion oil-equivalent barrels, which was made up of 53% liquids, up from 51% in 2012, and 47% natural gas. Liquid additions during 2013 totaled 1.2 billion barrels, or 153% of production, and natural gas additions totaled 400 million oil-equivalent barrels for a 52% replacement ratio. Excluding the impact of asset sales, reserves additions during 2013 replaced 106% of production.
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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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07:19 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 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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