Market News

Exxon Mobil (XOM)

Exxon Mobil would have to halt some construction activities on a planned C$16.2 billion ($15.4 billion) Canadian pipeline for more than five months every year to protect wildlife, a government-appointed panel said.
The proposed 1,220-kilometer (758-mile) natural-gas pipeline from Canada’s Northwest Territories to a US-bound hub in Alberta would make “a positive contribution,” provided the energy companies backing the project and government regulators agreed to take extra measures to protect birds, grizzly bears, caribou, fish and the water supply, the Joint Review Panel for the Mackenzie Gas Project said today in a report.

Dec 31 · 2:43:00 PM · Source: Bloomberg
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by Michael Oliveto

Exxon Mobil (XOM)

The ExxonMobil Educational Alliance Program announced today it awarded $1.8 million in grants this year to 2,400 schools to enhance math and science programs across the United States.
It is the 10th consecutive year for the program, which has provided grants to K-12 educational institutions in 42 states and the District of Columbia. Local schools are eligible to apply for Educational Alliance grants by partnering with their nearby Exxon or Mobil branded retailer, the vast majority of which are independently owned and operated. Since 2000, the program has contributed more than $18 million to local schools through Exxon and Mobil retailers.

Dec 31 · 2:40:00 PM · Source: Business Wire
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by Michael Oliveto

Chevron (CVX)

Chevron's Cabinda joint venture is spending $2.3 billion over five years to reduce flaring, the burning of natural gas from oil fields, and instead utilize the gas, a top company official said this month.
The disclosure comes as foreign oil companies are increasingly investing to monetize the gas that used to burn in their African fields, driven by higher gas prices and environmentalists' demands.

Dec 31 · 11:32:00 AM · Source: The Wall Street Journal
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by Michael Oliveto

Chevron (CVX)

Chevron will pay $45.5 million to resolve claims that it underpaid natural gas royalties to the US government and Native Americans, the Justice Department announced.
Most of the settlement money will be distributed to federal, state and American Indian accounts affected by the underpayments. More than $12.3 million of the amount will go to the heirs of the whistleblower who filed the lawsuit in Beaumont, TX.

Dec 31 · 11:30:00 AM · Source: San Diego Source
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by Michael Oliveto

Exxon Mobil (XOM)

Russia's Gazprom expects to wrap up a deal on gas supplies from the ExxonMobil - led Sakhalin-1 project next year, Gazprom's deputy head told reporters on Monday.
ExxonMobil has said it is studying all options for selling gas from Sakhalin-1, which is owned by a consortium that also includes Russian oil firm Rosneft, Japan's Itochu and Marubeni and India's ONGC.

Dec 29 · 3:55:00 PM · Source: Reuters
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by Michael Oliveto

Exxon Mobil (XOM)

Exxon Mobil Corporation, through its affiliate Esso Exploration Angola (Block 15) Limited (Esso Angola), declared $3.5 million in grants for public health and education programs in Angola.
The ten grants, provided by the ExxonMobil Foundation, are aimed at combating malaria and expanding educational opportunities for women. The grants will be disbursed in partnership with national and international non-governmental organizations.

Dec 29 · 3:52:00 PM · Source: Scandanavian Oil and Gas Magazine
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by Michael Oliveto

Chevron (CVX)

Dividend.com is reporting that Chevron saw its coverage reinstated on Friday with a “Buy” rating by analysts at Bank of America/Merrill Lynch. The analyst also set a $105 price target on CVX shares, which had closed at $76.78 on Thursday. The analyst said that a group of new projects over the past 18 months will likely spur growth and set the company apart from its peers in the oil industry.

Dec 18 · 1:47:00 PM · Source: Dividend.com
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by Rich Pike