Word: exxonmobil
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...ExxonMobil, success has bred an odd problem. With oil prices hovering near $50 per bbl. recently, the energy behemoth has been churning out profits. Over the past 12 months (through the end of March), earnings gushed to $28 billion--almost 40% above the previous year--on revenues of $306 billion. With minimal debt, the oil giant, based in Irving, Texas, is sitting on a $30 billion hoard of cash. The problem: What will the company do with all that loot...
...socially sound lending can have a huge long-term impact. Underwriters such as Citigroup point to the World Bank-backed pipeline running from Chad's oil fields through Cameroon to the Atlantic. Extensive environmental impact assessments were carried out before work got the green light, and oil companies like ExxonMobil have provided compensation and health care to locals whose lives and livelihoods have been disrupted by the development. A trust fund, designed to give all Chadians - and not just a well-connected élite - a share of the profits is another improvement, even if green groups such as Friends...
...says. SBC, meanwhile, hasn't ruled out keeping it. Now that's showing respect for your elders. - By Adam Smith Profits By The Barrel Royal Dutch/Shell announced a 2004 profit of $18.5 billion, the highest ever for a British-listed company. That followed similarly upbeat earnings from ChevronTexaco and ExxonMobil, although in all three cases company stock barely moved on the day earnings were released; in Shell's case, its announcement also disclosed a further reduction in the firm's proven reserves. Another big oil firm, BP, is scheduled to announce earnings this week...
...committees recommended that Boeing develop a human rights policy and report on its operations in China, but they divided on a proposal to have ExxonMobil disclose information about its oil contract with Equatorial Guinea. This call for disclosure came in response to a “60 Minutes” news segment, which alleged the company gave higher revenue shares to other African nations...
While ASCR narrowly recommended the proposal for ExxonMobil, CCSR abstained, citing the resolution’s poor wording—and instead, wrote a letter to the company’s management asking it to address the proposal’s concerns. CCSR member Houghton, a former chairman of the ExxonMobil, is a director on its board...