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Exxon Mobil Corp

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  • CARACAS, Oct 9- Venezuela considers a World Bank arbitration tribunal's award "manageable" and will pay Exxon Mobil Corp for the 2007 nationalization of its oil projects from November, a source at state oil company PDVSA said on Thursday. Earlier, the Centre for Settlement of Investment Disputes ordered Venezuela to pay Exxon around $1.6 billion.

  • *Venezuela may seek to annul World Bank tribunal's award. CARACAS, Oct 9- A World Bank arbitration tribunal on Thursday ordered Venezuela to pay Exxon Mobil Corp around $1.6 billion to compensate for the 2007 nationalization of its oil projects in the country. "The Tribunal has found that the expropriation was conducted in accordance with due process, that it was...

  • NEW YORK/ HOUSTON, Oct 9- Investment bank Lazard Ltd has asked bidders that have shown interest in buying Citgo Petroleum Corp's U.S. refineries to submit an additional round of offers, people close to the deal told Reuters this week as the sale process proceeds despite doubts. Venezuela's state-run oil company PDVSA hired Lazard to handle the sale process for...

  • Venezuela ordered to pay $1.6 billion to Exxon Thursday, 9 Oct 2014 | 3:41 PM ET

    It is the largest award yet in a backlog of costly complaints against Venezuela over a wave of nationalizations in the past decade. Exxon said in a statement that the decision by the World Bank's investment dispute panel confirmed that Venezuela failed to provide fair compensation for the Cerro Negro project it seized in 2007 after the company failed to enter...

  • Midday Glance: Oil companies Thursday, 9 Oct 2014 | 2:06 PM ET

    BP PLC fell$. 97 or 2.3 percent, to $42.18. ConocoPhillips fell $1.74 or 2.4 percent, to $72.06. Exxon Mobil Corp. fell $2.22 or 2.3 percent, to $92.39.

  • HOUSTON, Oct 9- A World Bank arbitration decision that Venezuela must pay Exxon Mobil Corp about $1.6 billion shows that the country "failed to provide fair compensation" for oil assets nationalized in 2007, Exxon said in a statement on Thursday. "Exxon Mobil recognizes the sovereignty of all nations and, while clearly not a desirable outcome, accepts...

  • "Weakness continues to pervade European economies, and that's leading to some nervousness with how earnings will play out," said Bill Lynch, director of investments at Hinsdale Associates, in Hinsdale, Illinois. Chevron Corp fell 2.9 percent to $114.60 while Exxon Mobil lost 2.8 percent to $91.97. Among specific names, U.S. Steel Corp fell 7.2 percent to $33.95...

  • CARACAS, Oct 9- A World Bank arbitration tribunal has determined Venezuela must pay Exxon Mobil Corp around $1.6 billion to compensate for a 2007 nationalization, the award posted on the International Chamber of Commerce website Thursday showed. A separate decision by the Paris- based ICSID in 2012 ordered Venezuela state oil company PDVSA pay Exxon $908...

  • South China Sea: Lots of oil, lots of uncertainty Thursday, 9 Oct 2014 | 12:56 PM ET
    Coast guard vessels from China (rear) and Vietnam in a disputed part of the South China Sea near China's oil drilling rig, May 14, 2014.

    The area is expected to hold billions of barrels of oil and trillions of cubic feet of gas, but energy firms are tentative about the region.

  • US stocks slump a day after biggest gain of year Thursday, 9 Oct 2014 | 12:00 PM ET

    NEW YORK— U.S. stocks are falling sharply in midday trading, a day after the market had its biggest gain of the year. Benchmark U.S. crude fell $1.02 to $86.28 a barrel. Exxon Mobil fell the most in the Dow.

  • Early Glance: Oil companies Thursday, 9 Oct 2014 | 11:31 AM ET

    BP PLC fell$. 68 or 1.6 percent, to $42.47. ConocoPhillips fell$. 75 or 1.0 percent, to $73.05. Exxon Mobil Corp. fell$. 90 or 1.0 percent, to $93.71.

  • US STOCKS-Energy shares extend recent decline Thursday, 9 Oct 2014 | 10:25 AM ET

    NEW YORK, Oct 9- Energy shares were once against the biggest losers of the day in morning trading on Thursday, continuing a recent trend of weakness amid falling oil prices. Among specific companies, Halliburton Co fell 2.9 percent to $58.66 while Newfield Exploration Co lost 4.1 percent to $32.44. Exxon Mobil lost 1.2 percent to $93.49 and Chevron Corp was down...

  • Companies that were already deep in the red when the price of Brent was at $109 a barrel last year are having to redraw business plans for prices as low as $90. According to Morgan Stanley analysts, the seven majors- Royal Dutch Shell, BP, Exxon Mobil, Chevron, Total Statoil- ran a collective deficit of $55 billion last year. They generated $207 billion of operating cash...

  • As market sinks, investors brace for turbulence Thursday, 9 Oct 2014 | 5:16 AM ET

    NEW YORK— The stock market had its worst day of the year Thursday, just 24 hours after recording its best. The stock market hasn't seen day-to-day movements like this since August 2011, when Standard& Poor's downgraded the United States' credit rating. "Investors are not conditioned for this type of market after three good years," said Dean Junkans, chief investment...

  • Final Glance: Oil companies Wednesday, 8 Oct 2014 | 6:02 PM ET

    BP PLC rose$. 59 or 1.4 percent, to $43.15. ConocoPhillips rose$. 62 or. 8 percent, to $74.53. Exxon Mobil Corp. rose $1.24 or 1.3 percent, to $94.61.

  • BUENOS AIRES, Oct 8- Argentina's state-run energy company YPF said on Wednesday it had not struck a confidential natural gas production deal with Russia's Gazprom despite a statement earlier in the day from the industry ministry saying that it had. The ministry had said Cabinet Minister Debora Giorgi received assurances from Gazprom head Alexey Miller in a...

  • Traders on the floor of the New York Stock Exchange.

    U.S. stocks ended about 2 percent higher on Wednesday as markets extended gains on the FOMC minutes and recovered from Tuesday's selloff.

  • Midday Glance: Oil companies Wednesday, 8 Oct 2014 | 1:33 PM ET

    BP PLC fell$. 05 or. 1 percent, to $42.51. ConocoPhillips fell$. 89 or 1.2 percent, to $73.02. Exxon Mobil Corp. fell$. 56 or. 6 percent, to $92.81.

  • *Canada lobbied against previous labelling proposal. BRUSSELS/ CALGARY, Oct 7- A European Union plan to label Canadian tar sands oil as highly polluting as part of its fight against climate change has been abandoned after years of opposition from Canada, clearing the way for exports of tar sands crude to the European market. Canada sees Europe as a potential...

  • Incredible opportunity in one sector: Pro Tuesday, 7 Oct 2014 | 12:54 PM ET
    Rich Pzena, founder & Co-CIO Pzena Investment Management.

    Stocks in this sector hold some incredible potential, top value investor Rich Pzena says.