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Chevron, Exxon investors sustain calls for fracking disclosure

May 29, 2013 17:51
SAN RAMON, Calif./DALLAS (Reuters) - About 30 percent of shareholders of both Exxon Mobil Corp <XOM.N> and Chevron Corp <CVX.N> on Wednesday backed calls for more disclosure surrounding their use of hydraulic fracturing, the top two U.S. oil companies said.

Exxon shareholders reject ban on discrimination against gays, climate change proposal

The Canadian PressMay 29, 2013 12:32
DALLAS - The CEO of Exxon Mobil Corp. says there's no quick replacement for oil, and sharply cutting oil's use to reduce greenhouse gas emissions would make it harder to lift 2 billion people out of poverty. "What good is it to save the planet if humanity suffers?" CEO Rex Tillerson said at the oil giant's annual meeting Wednesday. Tillerson jousted with environmental activists who proposed that the company set goals to reduce emissions from its products and operations. Shareholders sided with the company and voted nearly 3-to-1 to reject the proposal.

Wal-Mart regains No. 1 spot on Fortune 500 list of biggest companies, Exxon drops to No. 2

The Canadian PressMay 6, 2013 20:00
NEW YORK, N.Y. - Wal-Mart Stores Inc. once again leads Fortune's list of the 500 biggest U.S. companies by revenue, as the world's biggest retailer succeeded in posting strong growth despite a challenging economy for its shoppers. The Bentonville, Ark., company's revenue grew nearly 6 per cent in 2012 to $469.2 billion.

Chevron revenue, profit slips on flat production and lower oil prices

The Canadian PressApril 29, 2013 08:51
NEW YORK, N.Y. - Chevron Corp.'s net income fell 4.5 per cent in the first quarter as oil prices fell and refinery output declined. Chevron, the second largest U.S. oil company, has delivered better profit margins than the other energy majors in recent years because a big part of its production mix is oil, which has been fetching high prices. Rivals, like Exxon Mobil, produce more natural gas in the U.S, where gas prices have been low.

Exxon earnings rise on chemicals and lower taxes despite drop in production, revenue

The Canadian PressApril 29, 2013 08:51
NEW YORK, N.Y. - Growing is hard for a company as big as Exxon. Exxon Mobil Corp. managed to increase earnings slightly in the first quarter thanks to surging profits from its chemical business and lower taxes. But Exxon's makes the bulk of its profit by producing oil and natural gas. And that business slumped — again — in the first three months of the year as production and revenue declined. It was the seventh straight quarter in which production declined compared with the year earlier.

ExxonMobil profits inch higher despite lower revenues

Agence France-PresseApril 25, 2013 09:01
US oil giant ExxonMobil Thursday reported slightly higher earnings even as it reported lower revenues and continued to struggle with lower oil and gas output. Exxon, which recently overtook Apple as the biggest US company by market capitalization, reported $9.50 billion in profits, up from $9.45 billion in the year-ago period. Revenues fell 12.3 percent to $108.8 billion. Earnings per share rose from $2.00 to $2.12, boosted by some $5.6 billion in share repurchases implemented during the quarter and accounting for 63 million shares.

Rockefeller among US students in vandalism case

April 12, 2013 16:20
A relative of the late Nelson A. Rockefeller and five other Boston College seniors have denied vandalizing an apartment and causing about $25,000 in damage, including creating a natural gas leak by pulling out a clothes dryer line.Prosecutors say the students were arraigned Wednesday on charges of breaking and entering and willful and malicious destruction of property in the March 16 incident.

ExxonMobil to spend more to reverse output decline

March 6, 2013 14:31
US oil giant ExxonMobil Wednesday outlined a massive capital spending program to boost production growth over the next five years in a bid to reverse recent output declines. Exxon, delivering its annual analyst presentation at the New York Stock Exchange, said it would spend an average $38 billion per year in the 2013-2017 period, up $1 billion from the prior year's forecast. Exxon ended 2012 with oil and gas output of 4.24 million barrels a day, down 5.9 percent from 2011 and nearly double the decline Exxon had projected a year ago.

ExxonMobil to boost capital spending, output

March 6, 2013 10:46
US oil giant ExxonMobil Wednesday outlined a massive capital spending program that it projected would lead to annual output increases of two to three percent between 2013 and 2017. Exxon, delivering its annual analyst presentation at the New York Stock Exchange, said it would spend an average $38 billion per year over the five-year period, up from the $37 billion forecast at last year's meeting. Exxon projected the capital plan would boost its output from 4.2 million barrels a day of oil-equivalent in 2012 to 4.8 million barrels a day in 2017.

ExxonMobil profits rise on refining, chemicals

February 1, 2013 23:30
US oil giant ExxonMobil Friday reported higher fourth-quarter profits on better results in its refining and chemical divisions, which offset a drop in its exploration and production results. ExxonMobil, the US's largest oil company, said net income for the fourth quarter came in at a $9.95 billion, up 6 percent from the year-earlier period of $9.4 billion. The results overcame a five percent decline in ExxonMobil's oil-equivalent production compared with the year-earlier period.
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