Exxon
Article Abstract:
Exxon is the largest company in the world petroleum market. The company was previously known as Esso, and uses the Esso brand name. Exxon is appealing over a fine of $5 billion added to the cleaning up costs of the Exxon Valdez oil spill. The company is performing well in 1995 with record earnings for the 3rd qtr. refining margins are improving though prices for crude petroleum are under pressure. Oversupply across the industry has affected refining, and improvement on crude prices will be difficult if no agreement is reached by the Organization of Petroleum Exporting Countries.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Company facts: Texaco
Article Abstract:
Texaco ranks third among US gas and petroleum concerns, and sells around 2.3 million barrels equivalent daily from its refining operations. The company slimmed down following a legal judgement in 1987 which meant it had to pay $12 billion to Penzoil. This led to bankruptcy protection, a move which has left investors wary. The company has a good record for production and exploration and production should increase by over 25% in the decade from 1995. The company is focusing on core activities and has sold its chemicals division.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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Texaco
Article Abstract:
Texaco's share price has risen in 1996, partly because of a rise in petroleum prices. The company also has limited exposure to activities such as petrochemicals and refining which have not performed well. Gas and petroleum output increased due to new production in China, Angola and the Gulf of Mexico and increased production from existing fields. The company should continue to perform well within the petroleum industry, though the industry as a whole may see a drop in petroleum prices.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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