Increasing polypropylene demand is causing Exxon Mobil to increase its production. Exxon’s Lillebonne, France facility will increase its capacity by 45,000 tons. This European move comes on the heels of increased production at facilities in Asia and North America. Ironically, one of the plant’s biggest customers is the auto industry. Not an area you immediately think of as spurring growth.
auto industry, demand, europe, france, polypropylene, production
Exxon Mobil Corporation announced yesterday that the company will be boosting processing of natural gas at its Piceance Basin location. The company sees ’steady’ increase in supplies to US markets through the use of efficient technologies. The company currently processes 100 million cubic feet per day. Total estimate reserves in the Piceance Basin are believed to be 45 trillion cubic feet. The Piceance Basin is located in northwestern Colorado.
colorado, cubic feet, natural gas, Piceance Basin, processing
Today Exxon stock fell with the rest of the market, but investors seemed to be saying a rise was coming. Exxon stock was one of the money flow leaders in the Dow Jones with most buying on weakness. The up-down ratio was 151/100. This shows that the value of trades on the uptick was over 50 percent higher than those trading the oil company giant on the down tick. This is generally a bullish signal for Exxon and the oil market in general.
dow jones, exxon stock, money flow, oil company, uptick
The 9th Circuit Court of Appeals has ruled that Exxon Mobil Corporation must pay court costs and the built up interest fees in the ExxonValdez class-action case. This issue was not addressed in the Supreme Court ruling that cut the original ruling against Exxon $5 billion by nearly 90 percent. The rate of interest to be applied is 5.9 percent. This brings the two parties in this suit one step closer to a final resolution.
9th Circuit Court, class-action, exxon mobil corporation, ExxonValdez, supreme court
Exxon Mobil stock had a strong year, of course. Now comes time for it to share its prpfits with the community. The company will be giving nearly $400,000 to the University of Houston. The company’s educational matching gift program combines the generosity of the company and its employees to donate around $36 million to 900 different colleges and universities each year.
community, exxon mobil, profits, university of houston
As Exxon begins work on its Alaska gas pipeline, it announced today that it would work with TransCanada Corporation. These two energy companies will work to deliver clean energy to markets south of Alaska. The pipeline is seen as becoming an integral part of energy movement from the Alaskan area to the continental United States.
alaska, clean energy, exxon, gas, pipeline, transcanada
Exxon Mobil will begin exploring in deep water for oil in Turkey. The Turkish government agreed to let Exxon work with Türkiye Petrolleri Anonim Ortakl??? (TPAO) in the Black Sea. This new opportunity presents a range of potential upside for Exxon stock investors. However, the agreement comes at a cost of a 50 percent revenue share with TPAO, the Turkish government oil company.
black sea, exploration, exxon mobil, tpao, turkey
Exxon Mobil profit can be a controversial issue. Oil prices are like a lightning rod that Exxon stock must inherently grab onto. Here is some Exxon Mobil profits history.
Exxon Mobil Net Income (annual)
$36.13 billion (2005)
$39.50 billion (2006)
$40.61 billion (2007)
$45.22 billion (2008)
That’s $161.46 billion in the last four years.
The company paid out $117 billion in corporate taxes. That, of course, does not count the taxes paid by investors on corporate dividends and stock sale profits.
exxon mobil, history, oil prices, profits, stock
Exxon stock has been making nice and steady gains over the last five days. Its gains have approached nearlt 4.5%. That’s pretty high for Exxon. The company currently sits valued at over $350 billion with a trailing P/E of less than 10. Today, Tuesday, it moved significanly ahead of the market and the Energy sector with competitors ConocoPhillips up 0.06% and Chevron up 0.20%.
energy, exxon stock, p/e, sector
As oil ran near 20 percent this week, Exxon Mobil (XOM) stock stood nearly still registering a gain of only 1.4%. There came a signal today that Exxon Mobil topped the list of stocks with the largest outflow of money out of the issue despite the shares rising. Given the performance of the oil company stock this week that was no surprise.
exxon, exxon mobil, money flow, xom