Home / Tag Archives: ExxonMobil (page 5)

Tag Archives: ExxonMobil

State senators question Exxon Mobil over Torrance refinery explosion

The auditorium at Torrance City Hall was nearly full Thursday night as several state senators heard testimony related to a Feb. 18 explosion at a nearby oil refinery. A local resident described her husband entering their house, three miles from Exxon Mobil Corp.’s plant in Torrance, covered in white ash after the blast. A representative of the fire department said ...

Read More »

Is ExxonMobil preparing to buy BP?

Exxon Mobil Corp. is making a splash with its move to sell $8 billion of debt in a bond offering, the most sizable deal in the energy industry since oil prices began their staggering nosedive. Bloomberg reports that ExxonMobil held a seven-part sale of both fixed- and floating-rate notes. “Exxon holds top triple-A credit ratings from Moody’s Investors Service and ...

Read More »

Exxon CEO: Get used to lower oil prices

NEW YORK — ExxonMobil CEO Rex Tillerson expects the price of oil to remain low over the next two years because of ample global supplies and relatively weak economic growth. Speaking at the company’s annual investor meeting in New York, Tillerson cautioned that geopolitical turmoil could unexpectedly send prices higher. But he said that if tensions calm, much more oil ...

Read More »

Anadarko Petroleum cuts 2015 capex by a third

Anadarko Headquarters

Anadarko Petroleum Corp. said it would reduce spending by about 33 percent this year, as the exploration and production company responds to lower crude oil prices. The company forecast capital investments in the range of $5.4 billion-$5.8 billion, excluding investments associated with its Western Gas Partners LP unit. Anadarko’s cut follows similar actions by other U.S. oil and gas producers ...

Read More »

Buffett praises IBM, ExxonMobil even after selling oil firm

OMAHA, Neb. — Investor Warren Buffett is praising both IBM and ExxonMobil even though the computing business has struggled and Berkshire Hathaway sold its 41 million shares in the oil producer. Buffett appeared on CNBC Monday after releasing his annual letter to Berkshire shareholders over the weekend. Buffett says he still likes IBM’s prospects even though the company has been ...

Read More »

Lawsuit alleges Exxon denied more claims than paid

exxon mobil

BATON ROUGE, La. — ExxonMobil has paid more than $4.6 million to nearly 2,900 motorists impacted by the company’s production of more than 5 million gallons of tainted fuel distributed in the Baton Rouge area in March 2014. “ExxonMobil proactively honored all valid claims that involved impacted fuel,” ExxonMobil Baton Rouge spokeswoman Stephanie Cargile told The Advocate. Cargile said the ...

Read More »

Report: Dutch authorities put gas revenues ahead of safety

THE HAGUE, Netherlands — An independent report into natural gas drilling that has triggered a rash of small earthquakes in the northern Netherlands said Wednesday that energy companies and the government put production ahead of people’s safety in their decision making. The Dutch Safety Board reached the conclusion in a report prompted by dozens of small but damaging earthquakes caused ...

Read More »

Helped by oil trains, Canadian Pacific reports record profits

Canadian Pacific Railway, a hauler of crude oil and other commodities through Minnesota, said Thursday that oil shipments from North Dakota and Canada rose 22 percent in 2014, and are expected to increase again this year despite low oil prices. The crude-by-rail traffic, along with increased grain, consumer and other business, drove record revenue and earnings per share for the ...

Read More »