Last Updated :
03 May 2009 at 18:45 IST
Exxon loses stock sheen on crude shocks
Commodity Online Exxon Mobil Corporation (NYSE:XOM) recently posted a fall in profits by 58% to $4.55 billion in Q1 2009 against $10.89 billion in 2008 following a $100 fall in global oil prices.
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Exxon Mobil Corp. through its divisions and affiliates is engaged in exploration for, and production of,
Crude Oil and natural gas, manufacture of petroleum products and transportation and sale of crude oil, natural gas and petroleum products.
The global recession has resulted in slower economic activity around the world.
Crude Oil futures averaged $43/bbl during Q1 but currently the price is around $51.12/bbl.
Notably, Brazilian state-run energy giant Petrobras recently completed its purchase of ExxonMobil's distribution and logistics assets in Chile. It made a payment of $400 million through Netherlands and Spanish subsidiaries to conclude the deal.
XOM gained 2.01% at New York Stock Exchange on Friday. It touched a 52-week high of 96.12 and low of 56.51 and was last traded at 68.01.
MCX CRUDE PALM OIL 30 April 2012
contract was trading at
Rs 558 , down Rs. -9.2 . What's your view on it?
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