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ExxonMobil's Board Elects Two Vice Presidents

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  Exxon Mobil Corporation’s board of directors has elected David S. Rosenthal as vice president and controller and Jeffrey J. Woodbury as vice president of investor relations and secretary, effective Sept. 1. Rosenthal, 58, is currently vice president of investor relations and secretary. He began his career with Exxon in 1979 as a financial analyst at Exxon Chemical Americas in Houston, Texas. After holding a variety of financial and management positions of increasing responsibility in Exxon Chemical Americas and Exxon Company U.S.A., Rosenthal was appointed finance and administration manager of Exxon's copper mining subsidiary in Santiago, Chile in 1994. He became financial reporting manager for Exxon Corporation in 1997 and the following year was made finance and administration manager for Exxon Exploration Company. Rosenthal became controller of ExxonMobil Production Company in 2002 and was assistant controller for Exxon Mobil Corporation for two years prior to being elected to his current position in 2008. A native of Denver, Colorado, Rosenthal is a graduate of the University of Georgia, where he received both a bachelors and masters degree in business administration. He is a member of Financial Executives International. Woodbury, 54, is currently vice president of safety, security, health and environment for Exxon Mobil Corporation.


Double Hull Tanker Delivered For Duty

Exxon Mobil Corporation announced that the M/T Hawk , a new double-hull very large crude oil carrier (9VLCC), was delivered for leasing to a Trust established by MARCARE Shipping Co., a joint shipping venture among subsidiaries of ExxonMobil, the Onassis Group and Petros J. Goulandris Sons Group. The Hawk, the first of two sister vessels to be leased to MARCARE, will be chartered by International Marine Transportation Limited (IMT), a subsidiary of Exxon Mobil Corporation based in the UK.


EU Opens Full Probe Into Exxon/Mobil Merger

The European Union reportedly launched a full-scale probe into the proposed $87 billion merger of Exxon Corp. and Mobil Corp., citing a wide range of concerns about competition in the 15-nation EU.


EU Set For Full Probe Into Exxon, Mobil Merger

The European Commission's (EC) competition department will reportedly launch an in-depth probe into the proposed $87 billion merger of U.S. oil majors Exxon Corp. and Mobil Corp. later this month.


President Pryor Retires from ExxonMobil Chemicals

Stephen Pryor

  Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation, has elected to retire on January 1, 2015, after more than 44 years of service. It is anticipated that the board of directors of Exxon Mobil Corporation will appoint Neil A. Chapman as president of ExxonMobil Chemical Company and elect him a vice president of the corporation, effective Jan. 1, 2015. Chapman is currently senior vice president, Polymers, ExxonMobil Chemical Company


K-Sea Acquires Integrated Tug Barge Unit

K-Sea Transportation Partners L.P. has acquired the 140,000 barrel capacity double-hulled barge S/R New York and the 8,000 horsepower tugboat S/R Everett. This integrated tug barge unit, built in 2000, had been leased by SeaRiver Maritime, Inc., a subsidiary of Exxon Mobil Corporation, from a financial institution. The purchase price of $34 million was financed using available cash and $25 million in borrowings under a new term loan


Vessels: K-Sea Acquires ITB Unit

K-Sea Transportation Partners has acquired the 140,000 barrel capacity double-hulled barge S/R New York and the 8,000 horsepower tugboat S/R Everett. This integrated tug barge unit, built in 2000, had been leased by SeaRiver Maritime, Inc., a subsidiary of Exxon Mobil Corporation, from a financial institution. The purchase price of $34 million was financed using available cash and $25 million in borrowings under a new term loan


Exxon: U.S. to Allow Wind Down Ops in Russian Arctic

U.S. oil major Exxon Mobil said on Friday the U.S. Treasury Department granted it a license to wind down operations on a drilling well in the Kara Sea in the Russian Arctic. U.S. sanctions on Russia over its aggression in the Ukraine seek to stop billions of dollars worth of cooperation between Western and Russian energy companies on oil drilling in Russia's Arctic, in Siberia and offshore. Reporting by Timothy Gardner


Oil Prices Rally On Tight Supplies

Crude oil prices bolted higher Monday as traders returned from a long holiday weekend to indications that exporting countries may extend the supply cuts that have helped double petroleum prices this year. Crude oil for delivery in February closed 46 cents higher at $26.33 a barrel on the New York Mercantile Exchange, but still failed to lift shares of companies such as Exxon Mobil Corp. and Chevron Corp. in stock market trading


Daewoo to Build 5 LNG Tankers

According to reports, Daewoo Shipbuilding has been tapped to build five LNG tankers LNG tankers valued at $1.20 billion for Qatar Liquefied Gas II which is a joint venture between Exxon Mobil Corp. and state-run Qatar Petroleum.


BP's Foreign-Flag ANS Charter Signals Export Intentions

British oil company BP Plc has chartered a foreign-flagged vessel to transport Alaskan crude, the company said on Monday, the latest sign that producers of Alaskan North Slope, or ANS, crude are eyeing new markets. ANS is mostly transported to the U.S. West Coast on U.S


First Alaskan North Slope Cude Export Planned for Nicaragua

Alaskan North Slope (ANS) crude will be shipped to Nicaragua for the first time in July, two trade sources said on Friday, underscoring a shift in oil flows to and from the U.S. West Coast.   A parcel of the medium grade crude is on its way to the Pacific Area Lightering (PAL) near southern


Milton to Replace Retiring Kelly, President, ExxonMobil

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Alan Kelly, president of ExxonMobil Fuels, Lubricants & Specialties Marketing Company, has announced his intention to retire effective Aug. 1, 2016, after more than 34 years of service. It is anticipated that the board of directors of Exxon Mobil Corporation (NYSE:XOM) will appoint Bryan


Three French Oil Refineries Prepare for Restart, Oil Ports Still Shut

Preliminary work got underway on Monday to restart three of Total's French oil refineries stopped as part of nationwide strikes against planned changes to employment laws, but workers were still on strike at the country's two main oil ports.  


French Oil and Port Workers Vote to Begin New Strikes

Oil sector workers of French CGT and FO unions voted on Monday to begin a strike at Exxon Mobil's 240,000 barrels-per-day Port Jerome refinery in northern France, the unions said in a joint statement.   Workers at a port terminal in Le Havre, northern France


Exxon, Total, Chevron in Talks With Pemex on Gulf

Photo: PetrĂ³leos Mexicanos (Pemex)

 Oil majors are in talks with Mexico’s state-owned Petroleos Mexicanos (Pemex) as the struggling state-run oil producer seeks partners to develop deepwater crude in the Gulf of Mexico, reports Bloomberg.   Petroleos Mexicanos is in talks with Exxon Mobil Corp


ExxonMobil Terminates Seadrill Contract

Photo: Seadrill Partners LLC

 Exxon Mobil terminates earlier the West Capella working in Nigeria in the Usan Field. John Fredriksen-backed drilling firm Seadrill Partners LLC has received a notice of termination from Exxon Mobil.    In accordance with the cancellation for convenience provisions in the West


French CGT Oil Sector Workers to Join May Strike

French oil sector workers of the CGT trade union will join a national strike at refineries and other installations from May 17 to May 20 against a planned government reform of French labour law, a CGT union official told Reuters on Friday.


Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday. Last year Egypt and Rosneft signed a memorandum of understanding for a slew of petroleum products as well as


ExxonMobil 1Q Profits Plunge 63%

Rex W. Tillerson, chairman and chief executive office ExxonMobil

Highlights   * Earnings of $1.8 billion decreased 63 percent from the first quarter of 2015.   * Earnings per share were $0.43 assuming dilution.   * Cash flow from operations and asset sales was $5 billion, including proceeds associated with asset sales of $177 million.


Oil Majors Pay Mexico Regulator $80 Mln for Deepwater Data

Oil companies have paid Mexico's oil regulator nearly $80 million for seismic data ahead of an auction for deep water fields, suggesting robust interest in the tender despite a lasting slump in the price of crude.   Thirteen companies, including Exxon Mobil, BP and BHP Billiton


US Drillers Cut Oil Rigs for 11th Week Straight

U.S. energy firms this week cut oil rigs for an 11th week in a row to the lowest level since December 2009, data showed on Friday, as Exxon Mobil Corp and other producers slashed their drilling rig count to focus on uncompleted wells amid low oil prices.  


First U.S. Shale Gas Exports Imminent

Fiel Image: A typical LNG carrier (credit DNV GL)

Asia Vision LNG tanker docks at Cheniere's export terminal. A liquefied natural gas (LNG) tanker on Sunday docked at the Sabine Pass terminal in Louisiana, with only days to go before the United States ships its first export cargo of seaborne gas from the lower 48 states.


Chevron Mulls LNG Supplies to China

Image: Chevron Australia

 Energy giant Chevron has signed a preliminary agreement with China's ENN LNG Trading company to supply liquefied natural gas (LNG) from its $54 billion Gorgon LNG project in Western Australia.   Chevron plans to supply a unit of ENN Energy Holdings Ltd


Heavy Iraq Crude Has Limited Appeal for US Gulf Coast Buyers

Sellers of a new grade of Iraqi oil are competing fiercely to win market share on the U.S. Gulf Coast, though high sulfur content has limited appeal for refiners of the crude, known as Basra Heavy.   Iraq's State Oil Marketing Organization (SOMO) began selling the crude with an API gravity






 
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