Exxon Mobil

ExxonMobil Put On Mock Trial in Paris

ExxonMobil Put On Mock Trial in Paris

In a recent mock trial held at Paris, ExxonMobil was charged with blackmailing, deception and public manipulation. The trial coincided with the ongoing international talks on climate change at COP21.

The trial was headed by US environmentalist Bill McKibben and Canadian author Naomi Klein. The court was presided by indigenous and environmental activists who weighed the evidence of the oil-and-gas multinationals alleged ‘climate crimes’.

The event, ‘Exxon v. the People’, stressed ExxonMobil’s court action by a New York state attorney that started last month. The attorney investigated the company’s alleged illegal spreading of global warming denial for decades against state investor laws that prohibit firms from deliberately misleading the public.

Exxon hires High-profile Attorney to Handle NY Climate Change Probe

Exxon hires High-profile Attorney to Handle NY Climate Change Probe

In an effort to fight New York climate change probe, oil and gas corporation Exxon Mobil Corp has hired a high-profile lawyer. People familiar with the matter said the star attorney’s involvement is an aggressive response by the company to probe into its climate change disclosures.

Exxon Mobil’s new star lawyer is Theodore V. Wells, Jr., a litigation partner at the New York law firm of Paul, Weiss, Rifkind, Wharton & Garrison LLP. The attorney will help the company in fighting the climate change probe. Eric Schneiderman, New York Attorney General, started investing about a year ago whether the Irving headquartered Exxon intentionally hid risks of climate change from its investors.

Private Funding Has Had Major Influence on Overall Polarization of Climate Change in US

Private Funding Has Had Major Influence on Overall Polarization of Climate Chang

Researchers in a recent study published on Monday in the Proceedings of the National Academy of Sciences reviewed nearly 20 years of data in order to show how climate change-denying groups and individuals who received money from Exxon Mobil and the Koch brothers began to amalgamate their messages in 2007.

Study author Justin Farrell and a sociologist at Yale University told ThinkProgress that the issue that corporate funding influences climate change has been discussed among people since long, but they lacked the data to fully support the conclusions.

Exxon Mobile under Investigation for Misleading People about Risks of Climate Change

Exxon Mobile under Investigation for Misleading People about Risks of Climate

Exxon Mobile is under investigation by the New York state officials for allegedly misleading the public and investors about the climate change. Environmentalists blame the company saying that the move can broader the estimates with the conduct of big energy companies.

Exxon Mobil spokesman Scott Silvestri confirmed in a recent statement on Thursday that Exxon Mobile has received a subpoena from the office of the attorney general of New York, Eric Schneiderman, related to the issue and was assessing its response.

The NY officials in their investigation majorly focus to know whether Exxon Mobil intentionally hid the risk of climate change from its investors. It is said that the company hid from its investors that climate change could pose to its business.

PBF’s purchase of Exxon Mobil Corp’s Refinery Marks Its Entry in California Market

PBF’s purchase of Exxon Mobil Corp’s Refinery Marks Its Entry in California

PBF Energy Inc's purchase of Mobil Corp's California refinery marks Chairman Tom O'Malley's biggest bet on US refining in the country's toughest market. Under the $537.5 million deal PBF will buy Exxon's 55,000 barrels per day plant in Torrance with dock, storage and pipeline infrastructure.

California is isolated without having any good pipeline connections with rest of the country. Therefore, majorly the state is dependent on costlier foreign crude imports as output in California and Alaska is declining putting California refiners at a disadvantage relative to the US peers who can easily tap domestic oil.

Exxon was aware of Climate Change since 1981, says Exxon’s Former Climate Scientist

Exxon was aware of Climate Change since 1981, says Exxon’s Former Climate Scient

Lenny Bernstein, who has worked at the position of climate scientist for many years with Exxon, has unveiled that Exxon was aware about the climate change as early as 1981. However, then also the oil company remained in denial about the phenomenon.

Lenny wrote the email as a response to a query from Alyssa Bernstein, the director of the Institute of Applied and Professional Ethics at Ohio University. An environmental advocacy group Greenpeace, carried out a project called Exxon Secrets, as per which, Exxon has invested more than $30 million in climate change denying and research.

Lenny’s email has been included by the Union of Concerned Scientists in a report titled, Climate Deception Dossiers. The report is based on the big oil companies like ExxonMobil, BP and Shell.

Exxon was Aware of Dangers of Climate Change since 1981

Exxon was Aware of Dangers of Climate Change since 1981

ExxonMobil, the world's largest publicly traded international Oil and Gas Company, was aware of the dangers of the climate change since 1981. However, then also it has remained mum on topic since then. Even now, the oil giant continues to deny on the topic.

Lenny Bernstein, ExxonMobil's top climate scientist, who has worked with the company for three decades, has unveiled this and many facts in reports and letters written by him. The Union of Concerned Scientists has released the documents in a report titled, 'The Climate Deception Dossier'.

These documents clearly reveal about the harms of global warming due to carbon dioxide emissions. It is an irony that since Bernstein's first warning, the company has spent more than $30 million against climate change science.

Shareholders of Exxon Mobil Corp. Reject Several Environmental Resolutions

Shareholders of Exxon Mobil Corp. Reject Several Environmental Resolutions

Shareholders of energy major Exxon Mobil rejected several environmental resolutions including proposals to put a climate-change expert on the board and set goals for greenhouse-gas emissions.

At an annual meeting of the company held in Dallas, Chief Executive Officer Rex Tillerson gave a stay-the-course outlook for the company, which has faced profit decline recently with lower prices for crude oil.

Tillerson stated that oil prices will remain low over the next two years because of large global supplies and weak economic growth.

It has been said that the oil giant has completed more than a dozen of its major projects in the past three years and also expects an equal number of them to begin production through 2017.

Exxon Mobil Plans to deal with Lower Price Environmen

Exxon Mobil Plans to deal with Depressed Price Environment

Over the last six months, Crude oil prices have come down drastically, leaving the management of most of the energy companies in tough situation. The trouble for energy majors is likely to continue as the energy market experts suggest that oil prices could remain in $40-50 per barrel range during the year. People across the world are enjoying the low prices of oil, a lot of oil companies have been waiting to ride out the current period. Most of the companies have been held hostage by low prices of oil as it has impacted their margins.

Climate change policies not to affect demand for fuel, says Exxon

Climate change policies not to affect demand for fuel, says ExxonExxon Mobil has said in a new report that polices being devised around the world to combat climate change are not likely to affect the demand for oil and gas.

Exxon released a report in response to concerns from some shareholders and environmental activists that the company's assets will be worth much less as the world moves to restrict oil consumption. The company said that it has found that the policies will not affect the consumption and the company will continue to sell the fuel it has found and will find in the future.

Exxon Mobil to cut spending by 13% to $37 Billion

Exxon Mobil to cut spending by 13% to $37 BillionWorld's largest oil company by market value, Exxon Mobil Corp has said that it will cut spending on new wells, offshore platforms and fuel plants by about 13 per cent after it recorded an increase in reserves.

The company has said that the capital expenditures will be average at about $37 billion per year this year and for the next several years compared to $42.5 billion in 2013. The company, which is based in Irving, Texas said in a filing with the U. S. Securities and Exchange Commission filing yesterday that it's spending is expected to fall in the coming years.

7-Eleven buys Mobil fuel stations in Australia

7-Eleven buys Mobil fuel stations in Australia7-Eleven Stores Pty Ltd., the Australian division of 7-Eleven convenience store operator Seven & I, has agreed to buy retail fuels business from Exxon Mobil Corp. The amount of the deal was not disclosed by both the companies. This purchase will make 7-Eleven the largest independent fuel retailer in Australia.

According to the deal, 7-Eleven acquires 295 Mobil petrol stations from Mobil Oil Australia Pty Ltd. in Australia.

Exxon’s CEO sees a pay cut

Rex-Tillerson-Exxon-MobileRex Tillerson, the Chairman and CEO of Exxon Mobil Corp. has seen his compensation go down by 9 per cent. This was revealed by a research done by Associated Press.

Fall in the earnings of the company is the reason for the same. For last seven years, Exxon has seen a continuous decline in income.

Rex got $21.7 million as remuneration in 2009 as against $23.92 million a year earlier.

Most of it was given in the form of stock awards. The total worth of this was $16.96 million.




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