Log in
Lost password
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Exxon Mobil Corporation    XOM

News SummaryMost relevantAll newsSector news 

Exxon Mobil Corporation : Exxon Mobil Stock Buyback to Reach $5 Billion

02/01/2013 | 11:05am US/Eastern

HOUSTON--Exxon Mobil Corp. (XOM) will buy back $5 billion worth of shares in the first quarter of 2013, a company executive said Friday.

Exxon's head for investor relations David Rosenthal in an earnings call added that the world's largest publicly traded company had seen its 2012 production end up 2.7% below outlook, hurt by operational-performance issues in combination with the effect of higher oil prices and with more efficient capital spending in Iraq.

Mr. Rosenthal also said the Kearl oilsands project in Alberta is expected to start in the first quarter of 2013. The project had been expected to start by the end of 2012, but weather has played a role. "It has just been brutally cold up there," he said.

The executive also added that the company had seen "encouraging results" in its Argentina drilling program, although well testing was ongoing.

Write to Angel Gonzalez at angel.gonzalez@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

React to this article
11/28 EXXON MOBIL : Exxonmobil - Nigeria, Others to Drive 25-Year Global Energy Demand
11/27 CONOCOPHILLIPS : Pipeline case lost by Oil companies that could be worth hundred..
11/27 PUBLIX SUPER MARKETS : BRIEF: Coupon: Free gas at Publix
11/27 EXXON MOBIL : TTIP talks: EU alleged to have given ExxonMobil access to confiden..
11/27DJDow Ends Slightly Lower in Shortened Session
11/27DJCanadian Oil Sands Attracts Interest
11/27 EXXON MOBIL : ExxonMobil appoints Centlube as new local distributor
11/26 EXXON MOBIL : TTIP talks: EU alleged to have given ExxonMobil access to confiden..
11/26DJCanadian Oil Sands Cites Potential Suitors in Effort to Fend Off Suncor
11/25 Canadian Oil Sands in early-stage talks with potential bidders
News chart
Full-screen chart
Income Statement Evolution
More Financials