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Exxon Mobil

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 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.


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.


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


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


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.


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


Qatar LNG Not Affected by Arab States Tension -Exxon

Exxon Mobil Corp said on Tuesday that production and exports of liquefied natural gas from Qatar have not been affected by rising diplomatic tensions in the Middle East.   Saudi Arabia, the United Arab Emirates, Bahrain and Egypt on Monday cut ties with Qatar


Exxon, Partners Set $4.4 Bln for Oil Project Offshore Guyana

Exxon Mobil Corp said on Friday it and partners would spend $4.4 billion to develop part of the Liza oilfield off the coast of Guyana, approving a megaproject at a time when the oil industry has grown obsessed with lower-cost shale.  


Oil Traders Brace for US Gulf Coast Storm

Oil traders from Texas to Louisiana braced on Tuesday for supply disruptions as Tropical Storm Cindy, formed in the U.S. Gulf of Mexico, threatened to hit refining and production centers with wind and rain later this week.   Cindy was located about 265 miles (430 km) south of Morgan City


Oil Spilled After U.S. Train Derailment

File Image: A typical Crude Oil train in the United states makes its way south along inalnd waterways. CREDIT: Dagmar Etkin

Canadian National Railway Co said about 20,000 gallons of oil was released following a freight train derailment at Plainfield, the U.S. state of Illinois on Friday, according to a filing with state pollution regulators.   The cause of the derailment was unknown


India Eyes More LNG Purchases From Australia

Map: ProjectConnect

 India is trying to renegotiate LNG deal with Australia and looking at lowering the price of liquefied natural gas it plans to buy from the Gorgon project, says a report form PTI.   According to sources, when LNG deals are being done at 12 per cent or 12


BP Loads ANS Crude for Export

British oil company BP Plc has loaded a cargo of Alaskan North Slope (ANS) crude for export, according to two trade sources and Reuters Trade Flows data, the latest indication that exports of Alaskan crude are becoming less rare.   The crude loaded on the Cascade Spirit


ExxonMobil Contributes $ 0.5 Mln to Louisiana Flood Relief

ExxonMobil - Rex W. Tillerson, chairman and chief executive office ExxonMobil

Exxon Mobil Corporation (NYSE:XOM) announced today that it will donate $500,000 to the American Red Cross and the Greater Baton Rouge Food Bank to support local flooding disaster relief assistance in Louisiana. “Our thoughts and prayers are with our friends and neighbors in Louisiana who


BP, ExxonMobil, ConocoPhillips 'Quit' Alaska LNG Project

Alaska LNG. Photo: Alaska LNG Project

 BP, Conoco Phillips, and Exxon Mobil said that the 65-billion dollar megaproject would be too unprofitable for them to move into the next phase of development.   The Big 3 oil companies have told state lawmakers that the proposal on the table to pipe


Part of Houston Ship Channel Shut; Tankers Stopped to 4 Refineries

Four Houston-area refineries were unable to receive crude oil from tankers on Tuesday after a portion of the Houston Ship Channel was shut due to a fire aboard an empty tanker, according to the U.S. Coast Guard.   In Texas, Valero Energy Corp's Houston refinery


Houston Ship Channel Re-opens to Some Vessel Traffic

The Houston Ship Channel re-opened to some vessel traffic on Tuesday afternoon, the U.S. Coast Guard said, after an early morning tanker fire prompted closure of the waterway.   The U.S. Coast Guard Houston Vessel Traffic Service said it would commence with tow vessel transit outbound from


Pavilion Energy, ExxonMobil Join on Singapore LNG Bunkering

Image: Exxon Mobil Corp

 Pavilion Energy Pte Ltd (Pavilion) and Exxon Mobil Corp. (ExxonMobil) will work together to develop liquefied natural gas (LNG) bunkering in Singapore, as well as other downstream projects, reports the Straits Times.   Both companies will also look at developing other downstream


Obama Administration Bars New Oil, Gas Exploration off Alaska

A drilling ship Polar Pioneer in the Chukchi Sea, August 2015 (Photo: Mark Fink / Shell)

The Obama administration on Friday blocked new exploration for oil and gas in Arctic waters, in a win for environmental groups that had fought development of the ecologically fragile region.   The Department of the Interior released a 2017 to 2022 leasing plan that blocked drilling in the


US Aims to Prevent China from Taking Territory in International Waters

Photo: CSIS Asia Maritime Transparency Initiative/DigitalGlobe

The new U.S. administration of President Donald Trump vowed on Monday that the United States would prevent China from taking over territory in international waters in the South China Sea, something Chinese state media has said would require Washington to "wage war."  


Oversupplied Japanese LNG Players to Sell off Excess Volumes

© akiyoko / Adobe Stock

Asian spot LNG prices extended losses this week as oversupplied Japanese utilities sought to offload cargoes and as key European gas benchmarks softened.   Asian prices for LNG delivery in March fell 25 cents to about $7.75 per million British thermal units (mmBtu), traders said


Alaskan Jones Act Tanker to Retire

Alaskan Frontier (Photo: Alaska Tanker Company)

Jones Act tanker used to transport oil from Alaska's North Slope to retire: operator   The Alaskan Frontier, a Suezmax tanker typically used to transport Alaskan North Slope crude to West Coast refineries, is scheduled to retire, according to vessel operator Alaska Tanker Company.  






 
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