Digest
Copyright 2009 Houston Chronicle News Services
Feb. 16, 2009, 10:40PM
LABOR
Workers approve job bid changes
Workers at the Shell Deer Park refinery and chemical plant voted over the weekend to ratify a local contract that changes the way jobs are bid.
Earlier this month, during national negotiations, Shell agreed to pay employees a 3??percent raise for each year of the three-year contract and a $2,500 lump sum bonus.
On the local level, Shell will change the job bidding procedure so seniority doesnt play as much of a role, said Alan Barnes, treasurer of the United Steelworkers Union Local 13-1 in Pasadena, which represents the 900 workers.
L.M. SIXEL
MATT NAGER Bloomberg NewsRex Tillerson, chairman and chief executive officer of Exxon Mobil Corp.
ENERGY
Exxon Mobil says reserves are up
Exxon Mobil Corp. said Monday that proven reserves rose 0.4 percent last year to the equivalent of 22.8 billion barrels of oil as it added crude in Canada, Nigeria and the U.S.
Exxon Mobil said it added 1.5 billion oil-equivalent barrels to its proved reserves in 2008, enough to sustain current production levels for 15.3 years. Reserve additions, excluding asset sales, replaced 110 percent of production, Irving-based Exxon Mobil said Monday.
Last year Exxon Mobil said it replaced 76 percent of the oil and natural gas pumped from its wells by the end of 2007.
BLOOMBERG NEWS
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