Exxon Mobil Corporation (XOM): Its Not So Minor Oil Spill

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WTI’s discount to Brent, which narrowed to its lowest level since July on March 28, increased to $14.01 on Monday, as WTI fell $1.22. Meanwhile, WCS slipped by $0.65 a barrel on Monday and was trading at a roughly $15 discount to WTI toward the end of the day.

Exxon’s response
Exxon Mobil Corporation (NYSE:XOM) is currently under way with an excavation and removal plan for the damaged portion of the pipeline. In an announcement yesterday, the company said it gathered roughly 12,000 barrels of oil and water from the spill.

It also reportedly deployed fifteen vacuum trucks and 33 storage tanks to the area where the spill occurred. According to a statement by the Unified Command Joint Information Center, Exxon dispatched 120 workers to clean up the mess, who were still steam-cleaning oil from the spill as of yesterday.

The article Exxon’s Not So Minor Oil Spill originally appeared on Fool.com is written by Arjun Sreekumar.

Fool contributor Arjun Sreekumar has no position in any stocks mentioned. The Motley Fool recommends Total SA. (ADR).

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