Word: exxonmobils
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Dates: during 2000-2009
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...reputation among foreign investors as perhaps the most Western-like company in Russia. It has a cluster of Americans on its board; among top management, it uses U.S. accounting standards; and it was the first Russian company to detail its precise ownership structure. Yukos has been talking with both ExxonMobil and ChevronTexaco about the possible sale to one of them of as much as 40% of its equity, according to people familiar with the negotiations...
...Other targets include Fresh Del Monte, which is being sued by Guatemalan laborers who say the firm hired goons who kidnapped and tortured union organizers, and ExxonMobil, which faces claims from Indonesian villagers that the oil company is liable for the brutality of local security forces. "We want to establish that multinationals, which are among the biggest players in the global economy, are bound by the rule of law," says Terry Collingsworth, executive director of the International Labor Rights Fund, which is backing many of the lawsuits. More than two dozen cases have been filed against companies doing business...
...past six months, Russian oil companies have undergone rapid and considerable consolidation, attracting attention and investment from American and European firms. In April, the country’s biggest and fourth-biggest oil companies, Yukos and Sibneft, merged to form the largest Russian company in post-Soviet history; ExxonMobil and Shell immediately announced their interest in joining the new partnership. Prior to this, British Petroleum merged with Russian oil company TNK, and the new company rebounded financially. Such an influx of foreign investment is the first step toward linking Russian oil with the United States...
...most dramatic sign that shale had finally arrived came from Exxon (now ExxonMobil), the world's largest oil company. In May 1980 Exxon bought control of the Colony Oil Shale Project, a promising pilot venture near Parachute. Exxon paid $300 million up front and said it would invest at least $2 billion. The plant was supposed to produce 47,000 bbl. a day by 1985. And that was only the beginning. An internal corporate report predicted that by the mid-1990s Exxon would be producing 2 million bbl. a day from shale--enough to slice U.S. imports 20%. To accommodate...
...More In The Pipeline Yukos and Sibneft sealed a $45 billion merger, creating Russia's biggest oil firm. U.S. giant ExxonMobil was said to be on the verge of buying as much as 50% of the newly created firm...