Exxonmobil

On one side of the country, ExxonMobil Corp. CEO Rex Tillerson Thursday cast doubts on whether natural gas stands much of a chance to penetrate the U.S. transportation market (see Daily GPI, March 12). Meanwhile, at the annual CERAWeek conference in Houston, auto and energy executives mostly expressed pessimism about how big the market might become.

Don’t look for ExxonMobil Corp. to place any big bets on using natural gas as a transportation fuel. “We think gas as a transportation fuel has a lot of limitations,” CEO Rex Tillerson told financial analysts Thursday.

Don’t look for ExxonMobil Corp. to place any big bets on using natural gas as a transportation fuel. “We think gas as a transportation fuel has a lot of limitations,” CEO Rex Tillerson told financial analysts Thursday.

Ras Laffan Liquefied Natural Gas (LNG) Co., the joint venture of the Qatar national petroleum company and ExxonMobil Corp., shipped its first LNG cargo to South America with a spot sale to Chile’s BG LNG Trading LLC, according to press reports.

ExxonMobil Gas & Power Marketing and Hess Corp. have filed a protest at FERC against an attempt by Sea Robin Pipeline Co. LLC to collect a surcharge for extensive damages it incurred during Hurricane Ike last September and to install a mechanism to regularly institute surcharges for costs to repair damage from disasters beyond amounts covered by insurance.

ExxonMobil Gas & Power Marketing and Hess Corp. have filed a protest at FERC against an attempt by Sea Robin Pipeline Co. LLC to collect a surcharge for extensive damages it incurred during Hurricane Ike last September and to install a mechanism to regularly institute surcharges for costs to repair damage from disasters beyond amounts covered by insurance.

The story, “No Plans to Slow North American Gas Development, Says ExxonMobil Exec,” (see Daily GPI, Sept. 10), misquoted Senior Vice President Mark W. Albers, who was a keynote speaker at the Barclays Capital 2009 CEO Energy/Power Conference in New York City. Albers did not say “North American unconventional gas production will remain steady.” Rather, Albers said, “North American natural gas production will remain steady, with conventional production decline offset by increases in tight gas and shale gas.” NGI regrets the error.

ExxonMobil Corp. Thursday reported the highest quarterly profits ever by a public corporation, but the super major’s oil and natural gas reserves and production — despite record spending — once again failed to grow.

ExxonMobil Corp. Thursday reported the highest quarterly profits ever by a public corporation, but the super major’s oil and natural gas reserves and production — despite record spending — once again failed to grow.