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

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

Delayed Quote. Delayed  - 09/29 10:00:16 pm
86.46 USD   -0.51%
07:09a EXXON MOBIL : Conservation group lawsuit seeks $100M in fines for Ex..
09/29 LAWSUIT : ExxonMobil polluted river, ignored climate change
09/29 EXXON MOBIL : Rosneft plans to increase production on Sakhalin to 3 ..
News SummaryMost relevantAll newsSector news 

Exxon Mobil Corporation : ExxonMobil Says Asia-Pacific To Account For Third Of Global Gas Demand By 2040

share with twitter share with LinkedIn share with facebook
share via e-mail
05/17/2012 | 06:15am CEST

The need to develop unconventional sources of gas, such as coal seam gas, is increasingly important to meet the rising demand from Asia and an expected surge in gas-fired power stations over the coming decades, an executive at U.S. oil giant ExxonMobil Corp. (XOM) said Thursday.

Australia is well positioned to meet the demand for gas, although it risks dulling its competitive edge with tax and other policy decisions by its government, said Emma Cochrane, vice president of Asia Pacific and Africa for ExxonMobil's gas and power marketing.

In the text of a speech to the American Chamber of Commerce in Melbourne, Ms Cochrane said the Asia-Pacific region will account for almost a third of total worldwide gas demand by 2040 while demand in the U.S. and Europe will be flat to slightly lower.

At the same time, Australia's importance as a supplier of liquefied natural gas is growing and it is expected to provide a fifth of global supply by 2020, she said.

"A global market is emerging with the Asia-Pacific region poised to become the largest global gas market," Ms Cochrane said. "In some respects, the emergence of unconventionals--the Shale Gale, as some call it--could not come at a better time."

Worldwide demand for gas for power generation, meanwhile, is projected to rise 85% over three decades from 2010 levels and will represent nearly half of total gas demand, she said.

Natural gas is cleaner-burning, affordable and abundant. And natural gas power plants can be built quickly and cost effectively.

"With today's improved turbine technology, natural gas power generation can provide a significant source of flexibility and reliability to a power grid, responding to rapid changes either on the supply or the demand side," Ms Cochrane said.

Advances in technology have allowed more than 15,000 shale wells to be unlocked in the U.S. between 2008 and 2011, but in the rest of the world fewer than 100 shale wells have been drilled, she said. Australia in the same time period has drilled more than 1,000 coal seam gas wells in eastern Queensland, and more are expected over the next 20 years.

However, Ms Cochrane said while the coming years will present enormous opportunities for Australia, there are also genuine challenges for the energy industry.

"I note with some concern recent policy drifts which, taken together add significant cost to our industry and potentially lessen incentives for long-term investment," she said.

The country specifically has introduced a tax on carbon emissions, as well as changed a range of other taxes that are applied to the industry and supported an environment of tough labor relations policies, Ms Cochrane said.

"Only with the right regulatory framework will Australia and other countries in the region capture their share of demand growth," she said.

-By Robb M. Stewart, Dow Jones Newswires; +61 3 9292 2094; robb.stewart@dowjones.com

share with twitter share with LinkedIn share with facebook
share via e-mail
07:09a EXXON MOBIL : Conservation group lawsuit seeks $100M in fines for Exxon
09/29 EXXON MOBIL : Committee Probes SEC's Investigation of Exxon
09/29 LAWSUIT : ExxonMobil polluted river, ignored climate change
09/29 EXXON MOBIL : Rosneft plans to increase production on Sakhalin to 3 mln tonnes i..
09/27DJAGL Energy Adds Oil Search's CEO to its Board
09/27 GLOBAL DIOCTYL TEREPHTHALATE (DOTP) : BASF, Aekyung Petrochemical, Oxea, LG Che..
09/27 SHELL : Fire forces closure of key oil pipeline in Nigeria
09/26 DOW MOVERS : Pfe, aapl
09/26 EXXON MOBIL : Sabic, ExxonMobil eyeing USGC sites for projects
09/24 EXXON MOBIL : Al-Abadi meets the President and Director of Exxon Mobil oil compa..
More news
Sector news : Oil & Gas Refining and Marketing - NEC
09/28 FTSE recovers from one-week low as miners rally
09/28DJAustralia Seeks More Information on BP's Drill Plan
09/28DJBP : Australia's Oil Regulator Again Seeks More Information on BP's Drill Plan -..
09/28DJAustralia Regulator Seeks More Information on BP's Drill Plan
09/28DJCHINA PETROLEUM & CHEMICAL : Names Wang Dehua as Chief Financial Officer
More sector news : Oil & Gas Refining and Marketing - NEC
News from SeekingAlpha
09/29 Kashagan oilfield just days away from production, ministry says
09/29 Is Exxon Mobil Corp. Sock Still A Good Pick?
09/29 CHEVRON : Investors Wisely Giving Up On Breakout Above $100?
09/29 After OPEC - Where To Look In Energy
09/29 OPEC'S DECISION : Don't Get Too Excited
Financials ($)
Sales 2016 238 286 M
EBIT 2016 15 079 M
Net income 2016 10 220 M
Debt 2016 39 698 M
Yield 2016 3,42%
P/E ratio 2016 36,76
P/E ratio 2017 19,39
EV / Sales 2016 1,67x
EV / Sales 2017 1,25x
Capitalization 358 519 M
More Financials
Duration : Period :
Exxon Mobil Corporation Technical Analysis Chart | XOM | US30231G1022 | 4-Traders
Full-screen chart
Technical analysis trends EXXON MOBIL CORPO...
Short TermMid-TermLong Term
Technical analysis
Income Statement Evolution
More Financials
Mean consensus HOLD
Number of Analysts 24
Average target price 89,9 $
Spread / Average Target 4,0%
Consensus details
EPS Revisions
More Estimates Revisions
Rex W. Tillerson Chairman & Chief Executive Officer
Darren W. Woods President & Director
Andrew P. Swiger Principal Financial Officer & SVP
Michael J. Boskin Independent Director
Samuel J. Palmisano Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
ROYAL DUTCH SHELL A-0.45%207 520
BP PLC27.40%111 046
CHINA PETROLEUM & CHEM..-3.83%88 190
More Results