Key Developments For Exxon Mobil Corporation
Exxon Mobil Corporation (XOM) (NYSE Arca)
Texas Court OKs Rehearing Of Exxon Mobil Corporation Abandoned Wells Case-DJ
Dow Jones reported that the Texas Supreme Court said it will again hear arguments in the nearly 15-year legal battle over accusations that Exxon Mobil Corporation loaded abandoned wells with junk, sludge and even explosives to keep other companies from drilling there, The Associated Press reported. A small drilling company that tried to enter the wells near Corpus Christi, and the land owners, accused Exxon Mobil Corporation of intentionally wrecking the wells. The plaintiffs won at trial in 1999, but the Texas Supreme Court reversed the finding in March. That ruling from the state's highest civil court sparked a campaign to rehear the case led by the Texas land commissioner and state comptroller.
Exxon Mobil Corporation Announces Mobil 1 Selected As Factory- And Service-Fill Endorsed Motor Oil For The Cadillac Escalade Hybrid Sports Utility Vehicle
Exxon Mobil Corporation announced that Mobil 1, the fully synthetic motor oil brand, has been selected as the factory- and service-fill endorsed motor oil for the 2009 Cadillac Escalade Hybrid, the first-ever, full-size luxury sports utility vehicle to feature hybrid powertrain technology. In addition, Mobil 1 has also been selected as the factory- and service-fill endorsed motor oil for the redesigned Cadillac CTS-V, which was launched in November 2008.
Exxon Mobil Corporation and TRD, U.S.A. Form Technology Partnership
Exxon Mobil Corporation announced a new technological partnership with Toyota Racing Development (TRD) in which ExxonMobil will provide its Mobil 1 racing oil technology and products to TRD-supported NASCAR teams. With this new partnership, ExxonMobil's racing oil technology will now provide performance and protection for the TRD-supported Red Bull Racing and Michael Waltrip Racing NASCAR teams.
Exxon Mobil Corporation Led Group Clinches Iraq's W.Qurna Contract-Reuters
Reuters reported that an Exxon Mobil Corporation led consortium has beaten rival Russian, French and Chinese groups to bag initial rights to develop Iraq's West Qurna field, the oil ministry said, adding momentum to Iraq's bid to unlock its oil riches. The initial deal was signed in Baghdad but needs cabinet approval before it can be finalised. The 20 year contract is part of a raft of deals Iraq is close to formalising in a bid.
Iraq To Award West Qurnal-1 Oil Field To Exxon Mobil Corporation and Royal Dutch Shell plc-DJ
Dow Jones reported that Iraq is expected to award its West Qurna-1 oil field in southern Iraq to a consortium made of Exxon Mobil Corporation and Royal Dutch Shell plc shortly, a senior Iraqi oil official told Dow Jones Newswires.
