Stock to watch: Exxon Mobil Corporation (NYSE: XOM)

Lucy Hill
March 9, 2017

Exxon said that these expansions had begun in the year 2013 and the growth since then has been increasing and has been facilitated by extended timeline. They will be built at proposed new and existing facilities along the Texas and Louisiana coasts. In late December, Trump said Sprint Corp (S) and OneWeb, a satellite company, would create 8,000 U.S.jobs.

Exxon Mobil has promised an investment of $20 billion in a span of 10 years.

The U.S. Gulf Coast project will continue through at least 2022, and will involve major refining, lubricant, chemical and liquefied natural gas projects in existing sites and the 11 sites.

The plans answer a call by President Donald Trump for American companies to boost the number of USA -based jobs, and the White House immediately released a statement from Trump praising the announcement.

The White House statement included minor deviations from the original, such as changing "U.S." to "United States". Further, numerous products that will be manufactured here in the United States by American workers will be exported to other countries, which will improve the balance of trade. Woods ran Exxon's refining division before becoming CEO two months ago, and the new spending benefits a sector with which he has important experience and comfort. This investment is considered to be a true American success story.

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The firm is investing in new refining and manufacturing projects in the region to strengthen its export capacity towards Asia and elsewhere.

At IHS' CERAWeek energy conference in Houston, Russian Energy Minster Alexander Novak called natural gas the "product of the future" as environmental concerns and regulations grow.

While celebrating the fact that hydraulic fracturing has helped make the United States a top producer of oil and gas in the world, he said the technology has also brought about a new era of investing for the country's downstream and manufacturing businesses. The main objectives are to create plastic that is energy efficient and fuel that is cleaner to use. ExxonMobil's statement, which promoted its plans to invest $20 billion over 10 years while allegedly creating 45,000 jobs, was uncritically passed on in almost exact form in the official White House release.

Exxon earlier on Monday announced its Growing the Gulf program, a $20 billion investment over 10 years that would bring 45,000 jobs to region. By reviewing stock prices from the stock market history of the company and examining its analysts ratings can give an investment picture with updated information of stock which helps investors to make investing decision.

The CEO, Woods also said that they will try their best to just connect the dots as both the demand and supply has been rising. He also noted that ExxonMobil has a stake in about 25% of the world's carbon-capture-and-sequestration capacity and that the company plans to invest more in this area.

Other reports by TheDailyFarc

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