Exxon Mobil Corporation (XOM) News: Advance Strategic Cooperation, Alaska South Central LNG Project, Mobil Producing Nigeria Unlimited & More

Editor’s Note: Related Tickers: Exxon Mobil Corporation (NYSE:XOM), BP plc (ADR) (NYSE:BP), ConocoPhillips (NYSE:COP), TransCanada Corporation (USA) (NYSE:TRP)

Rosneft and ExxonMobil Advance Strategic Cooperation (DailyFinance)
Rosneft and Exxon Mobil Corporation (NYSE:XOM) today announced the achievement of several milestones under their 2011 Strategic Cooperation Agreement, including joint venture formation for the Kara Sea and Black Sea projects, and establishing foundations for joint ventures to explore seven other licenses in the Russian Arctic and to manage the joint West Siberia tight oil project. The companies have also agreed to move to the next planning phase for an LNG development in the Russian Far East. The Black Sea and Kara Sea joint venture operating companies, Tuapsemorneftegaz SARL and Karmorneftegaz SARL respectively, will commence project implementation activities as operator pursuant to agreement with Rosneft, which is the license holder. Rosneft holds 66.67 percent interest and ExxonMobil holds 33.33 percent interest in the two projects.

Exxon Mobil Corporation (NYSE:XOM)Exxon Mobil, BP, ConocoPhillips and TransCanada report progress on Alaska South Central LNG project (Offshore Technology International)
Exxon Mobil Corporation (NYSE:XOM), BP plc (ADR) (NYSE:BP), ConocoPhillips (NYSE:COP) and TransCanada Corporation (USA) (NYSE:TRP) have begun summer field work as part of their activities associated with a staged pre-FEED (front end engineering design) for the Alaska South Central LNG (SC LNG) project. This summer field work will employ approximately 150 people. Since the joint work began in March 2012, the companies expect to spend $80 – $100 million by year-end 2013. This builds upon more than $700 million in past work by the collective companies, including the joint Alaska Gas Producer Pipeline Team effort in 2001-02, the Denali Project and APP (including the State’s contribution through AGIA).

Nigeria: Tax Evasion – Court Orders Exxonmobil to Pay U.S.$83 Million to FIRS (AllAfrica.com)
The activities of international oil firms operating in the oil sector and milking the economy came to the fore as the Tax Appeal Tribunal, Lagos Zone, on Friday ordered Mobil Producing Nigeria Unlimited to pay $83.4 million (N13 billion) education tax to the Federal Inland Revenue Service (FIRS), the News Agency of Nigeria ( NAN) reported. Mobil Producing Nigeria Unlimited, an Exxon Mobil Corporation (NYSE:XOM) subsidiary operates an oil export terminal off Akwa Ibom coastline connected by a pipeline network to its two oil blocks in a Joint Venture with NNPC. The tribunal gave the order while delivering judgement on an appeal filed by the oil company against the FIRS.

ExxonMobil seeks permit to export Canadian LNG from British Columbia (Hydrocarbon Processing)
Exxon Mobil Corporation (NYSE:XOM) has asked Canadian officials for a permit to export LNG from the Pacific coast, marking the fifth such proposal for tapping into the country’s large natural gas reserves. The proposed project would be capable of liquefying up to 4 billion cubic feet/year of gas for export via tanker from one of several sites under consideration, according to an application with Canada’s National Energy Board. If the application is approved and the company decides to move forward with the project, it could begin shipments as early as 2021. Exxon Mobil Corporation (NYSE:XOM) and Imperial Oil Resources — the company’s Canadian affiliate — previously filed an expression of interest with the provincial government in British Columbia to develop an LNG site there.

Exxon Mobil September 21st Options Begin Trading (Forbes)
Investors in Exxon Mobil Corporation (NYSE:XOM) saw new options become available today, for the September 21st expiration. One of the key inputs that goes into the price an option buyer is willing to pay, is the time value, so with 89 days until expiration the newly available contracts represent a possible opportunity for sellers of puts or calls to achieve a higher premium than would be available for the contracts with a closer expiration. The put contract at the $85.00 strike price has a current bid of $2.29. If an investor was to sell-to-open that put contract, they are committing to purchase the stock at $85.00, but will also collect the premium, putting the cost basis of the shares at $82.71 (before broker commissions).

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!