Word: exxonmobil
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...jitters over the world's oil supplies was an explosion on Monday at a refinery in Big Spring, Texas, which halted its 67,000-barrel-a-day output, and could shut the facilty for two months. And even before then a bitter wrangle between Venezuela's oil officials and ExxonMobil over a rich oil field, as well as rebel action in the Niger Delta, had raised fears that oil supplies could be seriously interrupted...
...hung on to power for 16 years by mastering Bedouin politics. Along with physical courage - he commands from the front line - he has a gift for intrigue. Sometimes he buys off his enemies with cash, which is more plentiful since ExxonMobil started pumping oil in 2003. He has also been accused by Amnesty International and the Chadian opposition of murdering his enemies. But key to his survival is France's calculation, backed by military support, that his adversaries are worse...
...sponsors, as EMI plans to do. That might have some artists turning in their grave - just imagine that, John Lennon - but with music arenas often branded these days, EMI is confident it can sell the idea to some of its talent. Coldplay's next CD, brought to you by ExxonMobil, anyone...
Then, to complicate matters, Chávez mandated this year that the state own a majority stake in heavy-oil developments. Two major investors, ExxonMobil and ConocoPhillips, walked away, taking critical technology with them. Abandoning its Petrozuata and Hamaca heavy-oil ventures, plus an offshore project, cost Conoco $4.5 billion in impairment charges. The French oil corporation Total signed a deal earlier this month to help fill the void. Still, Venezuela's output "is declining," says Rafael Quiroz, an oil economist at Venezuela's Central University. "If it dips below 2.1 m.b.d. ... it could bankrupt the industry...
...After waves of mergers in the U.S. and Europe, and with the growing dominance of nationally owned energy companies worldwide, the oil and gas industry is increasingly ruled by a handful of giants. Though StatoilHydro leads the world in offshore extraction, it's dwarfed by diversified behemoths like BP, ExxonMobil and Gazprom. How can a midsize niche player from Norway possibly thrive in this new hypercompetitive...