Word: exxonmobils
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...does not come cheap. In the middle of a crisis, companies pay consultants anywhere from $50,000 and up, depending on how long and how many people are deployed. A precrisis preparation session costs at least $25,000. Still, says Dezenhall, who has represented such companies as Procter & Gamble, ExxonMobil, Eli Lilly and GE, "the amount of money spent on crisis management is a drop in the bucket compared to what you might lose." Corporations routinely analyze how political risk or interest-rate risk might affect their bottom line. Argenti says the "reputational risk" of handling a crisis poorly should...
...Houston Petroleum Club, now high atop the city's ExxonMobil building, had always been where oil executives and adventurers gathered to discuss "bidness." But these days, more and more energy executives are meeting at the Emirates Golf Club in Dubai, where Tiger Woods recently played, to discuss their deals. So, it shouldn't have been too surprising when Halliburton Chairman and CEO David Lesar announced that he was moving the headquarters of the enormous oil construction and logistics company to the business capital of the United Arab Emirates. The rest of the industry was migrating that way already...
...Improving the welfare of his people is Irwandi's top priority, of course. In theory he has the financial wherewithal to achieve this: Aceh is rich in natural resources, particularly oil and gas. So far, though, these riches have mainly profited the national treasury or the oil Goliath ExxonMobil, or simply lined the pockets of corrupt officials. Keeping Aceh's wealth in Aceh, and then directing it to where it's desperately needed-housing, infrastructure, job creation-will be Irwandi's biggest test...
...None of this is welcome news for oil companies, of course. While they're still raking in billions in profits, the stock prices of the majors, from ExxonMobil to Chevron, have declined in recent weeks, since lower oil prices will invariably translate to lower corporate revenues. The silver lining: oil companies may be able to cut their costs by spending less for field services and drilling projects, helping shore up their bottom lines. "When pricing is weaker you tend not to get as aggressive with drilling," Haas says. Nonetheless, she adds, "it will be a challenging year" for the industry...
...when it is extremely weak and not fully sovereign," says Greg Muttitt, co-director of Platform, a watchdog organization in London that monitors the oil and gas industries. "The U.S. has put a lot of effort into this." But it's not certain that U.S. or British majors like ExxonMobil or BP will be the first big benefactors. Both China and India signed exploration deals with Saddam before the war, which remain in effect...