Key Developments: Exxon Mobil Corp (XOM.N)
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1 Aug 2013
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Latest Key Developments (Source: Significant Developments)
Exxon Mobil Corp Declares Third Quarter Dividend
Exxon Mobil Corp announced that it has declared a cash dividend of $0.63 per share on the Common Stock, payable on September 10, 2013 to shareholders of record of Common Stock at the close of business on August 13, 2013. Full Article
New Guinea Energy Ltd To Sell Interest In PPL 269 To Exxon Mobil Corporation's Esso PNG Robin Limited
New Guinea Energy Ltd announced that wholly owned subsidiary, Kirkland Limited (Kirkland) has signed an agreement with Esso PNG Robin Limited (Esso), a subsidiary of Exxon Mobil Corporation, regarding the proposed sale of 50% participating interest in Petroleum Prospecting Licence (PPL) 269 to Esso for a total consideration of USD40 million cash (Sale Agreement). Certain rights and obligations under the Sale Agreement do not become binding until a number of initial conditions precedent are satisfied over a period of 20 business days commencing from July 26, 2013. Esso is permitted to have discussions with the Operator of PPL269 during this period, and has an absolute discretion to determine whether it is prepared to proceed with the acquisition of Kirkland’s participating interest in PPL 269 or not. The initial conditions precedent are Esso giving Kirkland a notice that Esso wishes to proceed with the transaction; Kirkland obtaining the consent of the holder of the convertible bonds in NGE; and NGE providing a parent company guarantee to Esso. If the initial conditions precedent are met, Esso will be required to pay a USD4 million deposit to Kirkland. If the initial conditions precedent are not satisfied or waived, the sale of Kirkland’s participating interest in PPL269 to Esso will not proceed. Full Article
Exxon Mobil Corp Says L.A. CDU Shutdown To Affect Output-Reuters
Reuters reported that Exxon Mobil Corp said it has shut down the sole crude distillation unit at its 149,500 barrel per day (bpd) Los Angeles-area refinery in Torrance, California, a move that would affect refinery output. Exxon said the crude unit was shut by June 19, 2013. Full Article
Arkansas And Federal Officials Sue Exxon Mobil Corp Over March Pipeline Oil Spill-DJ
Dow Jones reported that Arkansas and federal officials filed a lawsuit against Exxon Mobil Corp for allegedly violating pollution laws following the March rupture of an oil pipeline in the state. The suit, filed in federal court in Arkansas, alleges that the March 29 rupture of the Pegasus pipeline near Mayflower, Ark., led to violations of the Arkansas Water and Air Pollution Control Act, the state Hazardous Waste Management Act and the federal Clean Water Act. The suit also accuses the Company of operating a storage facility for the recovered oil without a permit. The pipeline ruptured next to a residential subdivision, spilling an estimated 5,000 barrels of Canadian crude through yards and streets into a small creek, wetlands and a nearby recreational lake. Twenty-two homes were evacuated. The alleged state law violations are subject to civil fines ranging from $10,000 to $25,000 per day, while the federal Clean Water Act violations carry fines up to $4,300 per barrel of oil spilled. Full Article
Rosneft and Exxon Mobil Corp Finalize Arctic Research Center and Technology Sharing Agreements
Rosneft and Exxon Mobil Corp announced that it has signed final agreements establishing a joint Arctic Research Center (ARC) in Russia and an over-arching technology sharing agreement to support the companies` joint ventures worldwide. Formally named the Arctic Research and Design Center for Continental Shelf Development, the ARC will provide the Rosneft and ExxonMobil joint ventures a full range of research, development and technical services, with near-term focus on the Kara Sea. Initial activities include work in the areas of safety and environmental protection; ice, metocean and geotechnical surveys; sea ice management; development of design criteria; and the evaluation and design of development concepts. The ARC will build on current best practices of Rosneft and ExxonMobil to develop technologies that are environmentally safe, and more effective and efficient. Full Article
Exxon Mobil Corp In Talks With Turkish Petroleum Corp To Buy Stake In Black Sea Block-DJ
Dow Jones reported that Exxon Mobil Corp is in talks with Turkish state-owned energy company TPAO to buy a stake in a Black Sea block on the Ukraine and Romania side, the acting head of TPAO said. Full Article
Exxon Mobil Corp Launches New Ethylene Plant in Singapore-DJ
Dow Jones reported that Exxon Mobil Corp has launched operations at a new ethylene cracker in Singapore that will serve a growing Asian market for petrochemical products, the Company said Thursday. It includes two new polyethylene plants, a polypropylene plant, a metallocene elastomers unit, an oxo-alcohol unit and an aromatics expansion, which began operations late last year. The Company didn't give any financial details. Full Article
Exxon Mobil Corp, OMV Petrom SA And Societatea Nationala de Transport Gaze Naturale Transgaz SA Could Set Up Joint Venture for Operations in Black Sea-AGERPRES
AGERPRES reported that Exxon Mobil Corp, OMV Petrom SA and Societatea Nationala de Transport Gaze Naturale Transgaz SA could set up a joint venture to exploit resources in the Black Sea, authorities following to promote a law concerning operations in this area, Minister delegate for Economy, Mr. Constantin Nita, stated. Further details were not disclosed. Full Article
Exxon Mobil Corp Declares Second Quarter Dividend
Exxon Mobil Corp announced that it has declared a cash dividend of 63 cents per share on the Common Stock, payable on June 10, 2013 to shareholders of record of Common Stock at the close of business on May 13, 2013. Full Article
BNK Petroleum Inc Announces Closing Of Sale Of Woodford Assets To Exxon Mobil Corporation's XTO Energy Inc
BNK Petroleum Inc announced sale by indirect wholly owned subsidiary BNK Petroleum (US) Inc. to XTO Energy Inc., a subsidiary of Exxon Mobil Corporation, of Tishomingo Field, Oklahoma assets other than the Caney and upper Sycamore formations, for USD147.5 million has been closed. Full Article
UPDATE 3-Decades-old defect caused Exxon's Arkansas oil spill -regulator
WASHINGTON, Aug 1 - A leak in Exxon Mobil Corp's nearly 70-year-old Pegasus pipeline, which spilled thousands of barrels of crude oil in a small Arkansas town in March, appears to have been caused by an original manufacturing defect, U.S. regulators said on Thursday.

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