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Giant Oil and Gas Company, Exxon Mobile Expect To Spend $129 billion on New Project Oil and Gas Exploration


The head of Exxon Mobil Corp. said Monday the company is not planning to shrink its staff or cut back on investment because of the global economic downturn.

PetroChina Corp. Above Exxon in China Trade and Market


Hours after PetroChina shares almost tripled in value on their first day of trading in Shanghai, they slumped 13 percent in New York after a big investment bank said the stock was overvalued.
China’s biggest oil and gas company — the publicly listed unit of state-owned China National Petroleum Corp. — became the world’s first company [...]

U.S. Stocks Drop on Slide in Oil, Gold Prices; Chevron Falls


Commodity producers dragged down U.S. stocks as prices for oil and gold fell.
Chevron Corp., the second-biggest U.S. oil company, led energy shares lower as crude approached an 18-month low and the company said falling prices will hurt its fourth-quarter earnings. Newmont Mining Corp., the world’s third-largest gold producer, slid on the precious metal’s first [...]

Exxon Mobile Is Gearing Up For Continued Success


Yaser Anwar submits: Exxon Mobil (NYSE: XOM – News) presented its 2030 Energy Outlook on Tuesday, December 12th at the company’s headquarters. There were no major changes to the outlook from last year’s presentation, as the company continues to believe that oil and gas will dominate the energy picture through 2030.
The company estimates approximately [...]

Stocks flat; Midwest growth slows and oil rises


U.S. stocks ended little changed on Thursday as a report showing slowing Midwestern business activity offset gains in energy stocks on the back of rising oil prices.
Stocks had risen on Wednesday after the government raised its estimate for third-quarter growth in gross domestic product, but the National Association of Purchasing Management-Chicago report showing an unexpected [...]

Oil-addicted America finds a temporary fix in Africa


From last fall to early spring the crude oil flowing from offshore fields near the Akwa Ibom River tropical delta in Nigeria supplied the South Elgin, Ill., Marathon gas station 8,000 miles away with roughly one-quarter of its oil.
That was just part of the torrent of foreign-bought crude that prompted President Bush, one of the [...]