Tag Archives | ExxonMobil

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The blog in 2009

The blog is now 2.5 years old. Readership continues to grow, both within the chemical industry and its investment community. It is now read in 121 countries, and 2735 cities, versus 89 countries and 1244 cities a year ago. Readers are also very loyal, with 23% reading it twice a week. Its readership covers all […]

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Chemicals could gain from energy savings need

“The most important ‘fuel’ of all, will be energy saved through fuel efficiency“. That’s ExxonMobil’s (EM) latest view of the outlook for meeting world energy demand over the next 20 years. And as Nigel Davis highlights in ICIS insight, this “will require materials and innovation – the backbone for the chemicals industry“. EM expect “40% […]

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Companies remain cautious on the outlook

The good news is that the stabilisation seen in Q2 has been maintained. But companies remain cautious on the outlook, to judge from Q3 reports. CEOs are sceptical about the impact of government stimulus efforts in the West, and fear demand will fall back as these end. The only optimists are in China and India. […]

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ExxonMobil focuses on integration

ExxonMobil Chemicals was 6th in the ICIS list of Top 100 companies in 2002, during the last downturn. By last year, it had risen to 2nd place, according to the latest ICIS list. One of the secrets of its success was set out in an interesting Bloomberg interview yesterday with Basic Chemicals SVP, TJ Wojnar. […]

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No sign of any upturn

This week’s company results have been keenly awaited, as the industry seeks to form a view on what happens next to demand and profits. My new IeC colleague Paul Satchell reviews them, from the point of view of a highly-experienced financial analyst, in his ‘Chemicals Viewpoint’. But the blog thought it would also be interesting […]

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ExxonMobil says older plants need to shut

Restructuring will become an important issue for the chemical industry, according to John Verity, ExxonMobil’s polyolefins head. Speaking to ICIS news, he was downbeat about short-term prospects, noting that whilst some restocking is currently underway, “we are not likely to see any real demand until the end of the quarter”. Earlier, in his speech to […]

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ExxonMobil weathers the storm

One can still rely on ExxonMobil to deliver positive results, even whilst the world is collapsing around them. Friday’s report showed Q4 chemical volumes down 20%, as a result of hurricane effects and destocking. But although earnings tumbled from $1.1bn in 2007, they were still in the black at $0.2bn.

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ExxonMobil regains top place

After 5 months, ExxonMobil is once again the world’s largest company by market capitalisation. PetroChina had overtaken it last November, but has since lost half its value in China’s stock market decline. Today, PC is worth $453bn, versus EM’s $455bn. China’s stock market has lost 25% so far this year. But PC has been particularly […]

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The 10th anniversary of the Asian financial crisis

2 July 2007 marks the 10th anniversary of the Asian financial crisis, which began with the devaluation of the Thai baht. Visiting the country 10 years later, the situation has changed quite dramatically from those panic-stricken days.

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