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Exxon to invest $1.1 bln in Australia's Turrum field
SAN FRANCISCO (MarketWatch) -- Exxon Mobil Corp.'s Gippsland Basin Joint Venture will invest $1.1 billion to develop more than 270 million oil-equivalent barrels from the Turrum field in the Bass Strait in southeast Australia, said the oil company Friday. Esso Australia, a subsidiary of Exxon Mobil, operates the Turrum field. Turrum field is estimated to hold about one trillion cubic feet of gas and 110 million barrels of oil and natural gas liquids, Exxon Mobil said. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com  –  2 hours, 1 minute ago  ¦  comment?
found in Business: Markets
Exxon Mobil earnings coming on record oil prices
Exxon Mobil is set to report higher second-quarter net income during a record run in oil prices along with growing costs for exploration and production.
MarketWatch.com  –  20 hours, 29 minutes ago  ¦  comment?
found in Business
ConocoPhillips sticks by 2008 production target
NEW YORK (MarketWatch) -- ConocoPhillips CEO Jim Mulva on Wednesday told Wall Street analysts he's standing by the oil major's target for average production of 1.8 million barrels of oil equivalent a day for 2008, excluding volume from its Lukoil investment. The company plans to buy back $10 billion of its own stock by the end of the year, and invest about $15 billion in capital projects. Mulva echoed other industry players in supporting offshore drilling in the U.S. and said a windfall profits tax on oil companies would discourage investment in energy production. ConocoPhillips continues to move forward on its Denali pipeline project with BP . He declined to comment on whether Exxon Mobil would opt to join the project as an investor or a customer. "Ultimately, we'd like to see everyone participate," he said of the pipeline to bring natural gas from Alaska to U.S. markets. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com  –  Jul 23, 2008 3:56 PM [GMT]  ¦  comment?
found in Business: Markets
Big Oil steers record profits toward dividends, buybacks for investors
HOUSTON, Texas — As giant oil companies like Exxon Mobil and ConocoPhillips get set to report what will probably be another round of eye-popping quarterly profits, just where is all that money going?
Fairbanks Daily News-Miner  –  Jul 22, 2008 10:46 PM [GMT]  ¦  comment?
found in Local: Alaska: Fairbanks
Where is the oil money flowing?
HOUSTON — As giant oil companies such as Exxon Mobil and ConocoPhillips get set to report what will probably be another round of eye-popping quarterly profits, just where is all that money going?The companies insist that they’re trying to find new oil th...
The Register-Guard  –  Jul 22, 2008 4:59 PM [GMT]  ¦  comment?
found in Local: Oregon: Eugene
Exxon Mobil output in Gulf Coast disrupted by Dolly
SAN FRANCISCO (MarketWatch) -- Exxon Mobil said Tuesday its gross production of about 10,000 barrels a day of liquids and 40 million cubic feet a day of gas has been shut in as the company takes safety precautions as Tropical Storm Dolly nears hurricane-strength. "We are closely monitoring weather updates, determining which of our facilities may potentially be in the path of the storm and preparing those structures for heavy wind and rain," said the company in an email. The company has evacuated personnel from offshore facilities expected to be in the path of the storm. Exxon Mobil's total gross production along the Gulf Coast is about 50,000 barrels a day of liquids and 800 million cubic feet a day of gas. Dolly is expected to become a hurricane later Tuesday or Wednesday, the National Hurricane Center said.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com  –  Jul 22, 2008 4:35 PM [GMT]  ¦  comment?
found in Business: Markets
AP IMPACT: Big Oil profits steered to investors
HOUSTON (AP) -- As giant oil companies like Exxon Mobil and ConocoPhillips get set to report what will probably be another round of eye-popping quarterly profits, just where is all that money going?...
AP  –  Jul 22, 2008 11:10 AM [GMT]  ¦  comment?
found in Business
Big Oil profits steered to investors
As giant oil companies like Exxon Mobil and ConocoPhillips get set to report what will probably be another round of eye-popping quarterly profits, just where is all that money going?
Redding Record Searchlight  –  Jul 22, 2008 07:00 AM [GMT]  ¦  comment?
found in Local: California: Chico
Investors see most Big Oil profits
HOUSTON — As giant oil companies such as Exxon Mobil and ConocoPhillips get set to report what will probably be another round of eye-popping quarterly profits, just where is all that money going?
Times Leader  –  Jul 22, 2008 05:34 AM [GMT]  ¦  comment?
found in Local: Pennsylvania: Wilkes Barre-Scranton
Big Oil Profits Go To Investors, Not R&D
As giant oil companies like Exxon Mobil and ConocoPhillips get set to report what will probably be another round of eye-popping quarterly profits, just where is all that money going?
CBS News  –  Jul 22, 2008 04:25 AM [GMT]  ¦  comment?
found in Top Stories