Exxon Mobil Corp. is taking steps to preserve cash in the market downturn, positioning itself to take advantage of new investments and make acquisitions.
May 4th, 2009:
Exxon Mobil To Pump Up Cash Reserves As Profit Falls
Motiva’s Texas refinery expansion “proceeding”
Motiva, a joint venture between Saudi Aramco and Shell, in March announced the project's completion would be delayed by two years to 2012, leading to speculation it would be canceled altogether as the recession continues to crush U.S. demand for motor fuels.
Shell Oil favours carbon cap-and-trade
Shell Oil president Marvin Odum came out in favour of so-called carbon cap-and-trade as part of a long-term solution for handling carbon emissions but advised a gradual phase-in for successful implementation.
Companies Win at U.S. Supreme Court on Cleanup Costs
The justices, voting 8-1, overturned a ruling requiring Shell Oil Co. to help pay for the cleanup of a California site that once housed a facility for storing and selling agricultural chemicals.
Shell Oil, railroads win U.S. ruling on cleanup costs
Voting 8-1, the justices overturned a ruling by a U.S. appeals court that Shell and the railroads could be held liable for almost the full cost of the cleanup even though their roles in the soil and groundwater contamination had been relatively minor.