Today, the merged Exxon Mobil has a war chest containing 2.38 billion of its shares, with a market value of about $152bn, and about $40bn in cash. The company chairman and chief executive, Rex Tillerson, says Exxon Mobil will evaluate potential acquisitions.
Posts on ‘March 15th, 2009’
Because of lower oil revenues, all oil firms will need to assume increased debt in coming years to cover their dividends, capital spending and exploration costs, BP Chief Executive Tony Hayward has warned. Natural gas prices also have weakened.