Word: exxonmobils
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...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...
Bonalle says the "light came on" for him nearly three years ago, thanks to his wife, who uses ExxonMobil's RFID-based Speedpass fob to pay for gasoline at the pump. At least 6 million people have used Speedpass since its 1997 introduction. But the technology spread far beyond the pump this year after all three major card companies--Amex, Visa and MasterCard--endorsed interoperability standards for RFID payments. Besides the Amex pilot, there have been trials by MasterCard (for its PayPass card in Orlando, Fla.) and Visa (which plans to use RFID-ready phones in Asia). Someday you will...
Besides technical problems, the oil industry has been plagued by looting that has failed to subside. Gary Vogler, a former ExxonMobil Oil executive who has been appointed senior adviser to the Oil Ministry by the Office of Reconstruction and Humanitarian Assistance, told TIME of looting at a compressor station in northern Iraq that disrupted operations there. "They took some motors and severely damaged the station," he said. "If we have many more of these incidents, it could have a major impact on starting up operations again." Vogler says the Oil Ministry is drawing up a list of sites that need...