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Stock Market & Financial Investment News

News Breaks
March 5, 2014
09:05 EDTXOMExxon Mobil to start production of new oil, gas projects in FY14
Exxon Mobil expects to start production at 10 major projects in FY14, adding new capacity of approximately 300K net oil equivalent barrels per day and contributing to profitable production growth. ExxonMobil’s capital spending will decline to $39.8B this year from a peak of $42.5B in FY13. Excluding potential acquisitions, CapEx is expected to average less than $37B per year from FY15-FY17. A liquefied natural gas project in Papua New Guinea and the largest offshore oil and gas platform in Russia are among significant projects scheduled for startup this year. Others include a heavy oil expansion project in Canada and deepwater projects in the Gulf of Mexico. ExxonMobil anticipates additional project startups in the next few years in several countries, including Australia, Indonesia, Canada, Nigeria and the U.S. All of these projects are expected to add about 1M net oil equivalent barrels per day by FY17. In North America, ExxonMobil’s near-term production outlook is made up of significant high-margin, low-risk liquids growth. The company’s production outlook also reflects strategic choices made to improve unit profitability while maintaining disciplined capital allocation.
News For XOM From The Last 14 Days
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October 1, 2014
07:38 EDTXOMRailcar, oil groups push back over crude-train deadlines, WSJ says
The Association of American Railroads, which represents oil and freight haulers, and the American Petroleum Institute, the lobbying group for oil companies, told the U.S. Transportation Department that they need more than two years to build safer railcars to haul crude, pushing back against some proposed federal rules, reported The Wall Street Journal. Rail car makers include Trinity Industries (TRN), FreightCar America (RAIL), American Railcar Industries (ARII) and Greenbrier (GBX). Publicly traded oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
September 30, 2014
11:54 EDTXOMArbitration ruling regarding Exxon, Venezuela due soon, Reuters says
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06:50 EDTXOMExxon Mobil , Qatar looking to export natural gas, NY Times says
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September 29, 2014
10:51 EDTXOMExxon Mobil suspends cooperation on Arctic drilling with Rosneft, Reuters says
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September 26, 2014
13:56 EDTXOMRosneft, Exxon Mobil strikes oil in Arctic well, Financial Times reports
Rosneft and Exxon Mobil have struck oil in their joint Universitetskaya-1 well in the Kara Sea, reports the Financial Times, according to people familiar with the matter. The results are unlikely to be conclusive because the companies drilled one well in "a huge area." Reference Link
September 24, 2014
19:47 EDTXOMExxon announces new projects to expand specialty hydrocarbon fluid production
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September 23, 2014
10:02 EDTXOMOn The Fly: Analyst Initiation Summary
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06:05 EDTXOMExxon Mobil initiated with a Neutral at JPMorgan
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September 19, 2014
13:44 EDTXOMSources say Exxon Mobil's Torrance, CA, refinery up for sale, Reuters reports
According to sources, Exxon Mobil's 15,000 barrel per day Torrance, California, refinery is up for sale, Reuters reports. One source notes that the refinery "has been looked at extensively." An Exxon spokesman says the company is committed to conducting business in California and would not comment on a potential sale. Reference Link
11:52 EDTXOMExxon Mobil releases staement on Treasury Department sanctions on Russia
ExxonMobil announced that it is complying with all U.S. sanctions. The company said, "The U.S. Treasury Department, recognizing the complexity of the University-1 well and the sensitive Kara Sea arctic environment, has granted a license to ExxonMobil and other U.S. contractors and persons involved to enable the safe and responsible winding down of operations related to this exploration well. The license recognizes the need to protect the safety of the individuals involved in these operations as well as the risk to the environment. All activities related to the wind down will proceed as safely and expeditiously as possible."
September 18, 2014
18:21 EDTXOMExxon Mobil suspends Arctic oil drilling due to sanctions, Bloomberg reports
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17:08 EDTXOMExxon Mobil continues to increase Wolfcamp Position in Permian Basin
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17:04 EDTXOMLINN Energy, LinnCo announce Permian-California trade with Exxon Mobil
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