exxon mobil corp (XOM) Key Developments
PBF Energy Inc., Exxon Mobil Corporation, PBF Holding Company LLC - M&A Call
Sep 30 15
To discuss on PBF Energy Inc. subsidiary has signed a definitive agreement to purchase the 155,000 barrel-per-day Torrance refinery, and related logistics assets, from ExxonMobil
Michigan State University Partners with ExxonMobil to Advance Biofuel Research
Sep 30 15
Michigan State University announced new $1 million relationship with ExxonMobil to expand research designed to progress the fundamental science required to advance algae-based fuels. The key to bioenergy is the efficiency of photosynthesis, the process algae use to capture solar energy and the first step in converting the energy from the sun into a liquid fuel. Past research has shown that algae photosynthesis can be highly efficient under optimal conditions in the laboratory. Under realistic growth conditions however, this efficiency drops. There is a need to improve photosynthesis under simulated production environments. The project will take advantage of these natural variations as well as a suite of new technologies developed by the Kramer lab at PRL that allow rapid, high-throughput testing of photosynthetic efficiency of many algal lines under simulated growth conditions. One of these technologies, developed through a grant from the U.S. Department of Energy (Energy, Energy Efficiency and Renewable Energy program) is a matrix of specialized chambers, called the environmental PhotoBioReactor, that allow algae to be studied in detail under simulated production environments. The second Kramer lab technology, developed with support from the Photosynthetic Systems and Physical Biosciences programs at the DOE (Basic Energy Sciences program), is called PhotosynQ and is a network of portable sensors called MultispeQ that are being used by many researchers around the world to probe photosynthesis. These sensors allow the Kramer lab to measure the photosynthetic processes in many algal cultures at the same time under different conditions to learn why some strains are more efficient than others.
Exxon Mobil Corporation Announces Earnings Results for the Second Quarter and First Half of 2015; Provides Production Results for the Second Quarter of 2015
Sep 15 15
Exxon Mobil Corporation announced earnings results for the second quarter and first half of 2015. During the second quarter, the company's net income attributable to company was $4.19 billion, which translated into an EPS of $1.00 as compared to a net income of $8.78 billion or an EPS of $2.05 reported a year ago.
For the first half of 2015, the revenues and other income totaled $141.7 billion compared to $217.5 billion reported in the same period a year ago. The company reported net income attributable to ExxonMobil of $9.13 billion or an EPS of $2.17 compared to $17.88 billion, which translated into an EPS of $4.15 in the previous year first half.
During the second quarter, the company produced about 2,291 kbd of crude oil, natural gas liquids, bitumen and synthetic oil, worldwide, which is higher than production of 2,048 Kbd in the prior year quarter.
ExxonMobil to Build Synthetic Lubricants Plant in Singapore
Sep 15 15
ExxonMobil is building a new synthetic lubricants plant next to its manufacturing site in Jurong, Singapore. The facility is expected to be completed in the second half of 2017. Financial and capacity details of the project were not disclosed. The new facility will be the only unit in the Asia Pacific producing ExxonMobil's synthetic engine oil Mobil 1.
New Jersey Judge Approves $225 Million Deal Between Chris Christie's Administration and ExxonMobil
Aug 25 15
A New Jersey judge approved a $225 million deal between Gov. Chris Christie's administration and ExxonMobil over dozens of polluted sites and nearly 2,000 retail gas stations. Superior Court Judge Michael Hogan ruled that while the deal is much less than the $8.9 billion the state originally sought, it is a 'reasonable compromise' considering 'substantial litigation risks' faced by the state in the 11-year-old case that spanned Democratic and Republican governors. Under law, about $50 million of the settlement will go toward site remediation. Another roughly $50 million will go toward the state's private legal costs. The rest is slated to go into the general fund. New Jersey sued Exxon Mobil for natural resources damage in 2004. The idea was to hold the company responsible not only for cleaning up polluted areas, which include two oil refineries in Bayonne and Linden, as well as other sites and retail gas stations across New Jersey, but to compensate the public for the harm. The Exxon case went to trial last year, but the settlement was struck before a judge issued a ruling. The deal covered properties such as the gas stations that were not part of the lawsuit. It calls for the oil company to pay for environmental remediation at the sites for an as-yet-unknown cost.