Italian oil group Eni has said the next spike could be around $200 a barrel.
Eni's chief executive, Claudio Descalzi, said the oil industry would cut capital spending by 10-13% this year because of slumping prices..
Mr Descalzi was speaking at the World Economic Forum in the Swiss resort of Davos.
You are playing with fire, one black swan and you will be fried, have you paid dividends on those shorts???? In October the stock was 87 and now over ninety, sounds like you are a winner.
Exxon Mobil’s market cap is $403 billion. If Exxon Mobil was merely treated as a closed-end fund, investors would say that the company trades at only about 18% of its net asset value. Things are far more complicated than that, but it is an interesting way for investors to look at this. If you just consider what Exxon Mobil is expected to make in profits this year, Exxon trades at about 11 times earnings. That is the real way to look at the company.
We are sticking with our prediction that both Exxon Mobil and Chevron Corp. (NYSE: CVX) will hike their dividends in the coming weeks.
What the company did not show you is that its proved reserves has a current snapshot market value of more than $2.2 trillion.
Xom knows that eighty percent of all electricity will be made by natural gas, they want to corner the world market Say bye to coal and nuclear and most oil. The world will be dependent on exxons natural gas.
Pull up your panties and relax. Buy any dip below 90.
Trust me on this one.
Jan 16 (Reuters) - ExxonMobil Corp has signed a memorandum of understanding to supply natural gas to power plants in Papua New Guinea in a deal that would give it licences to develop a new gas field that may help expand the company's PNG liquefied natural gas plant.
LNG from Papua New Guinea is seen as the most profitable to develop for supplying Asia compared with rival projects in Australia and North America.
ExxonMobil said on Friday it would begin preparations this year to drill an appraisal well at the P'nyang gas field, co-owned by Oil Search Ltd.
true Reserves from P'nyang could "enable expansion of the PNG LNG project, which could include the development of a possible additional train," it said in a statement. The $19-billion PNG LNG project began exporting last year from its first two units.
Under the plan, part of the gas due to go for domestic use will fuel up to 25 megawatts of electricity, or about a fifth of the electricity required to power Port Moresby, the capital of Papua New Guinea, while the government looks for longer-term power generation sources.
The rest of the gas will be used to fuel a new state-owned gas-fired power plant near the PNG LNG plant.
"This agreement enables a reliable long-term supply of natural gas to support Port Moresby's urgent power generation needs,"