Exxon Mobil Cites Progress In the Russian Arctic and 2 Other Dow Movers to Watch
Exxon Mobil Corporation (NYSE:XOM): Current price $89.42
On Friday, Rosneft Oil Co. and ExxonMobil reported the achievement of a number of milestones under their 2011 strategic cooperation agreement, including joint venture formation for the Kara Sea and Black Sea projects, and setting forth foundations for joint ventures through which to explore seven other licenses in the Russian Arctic, and to oversee the joint West Siberia tight oil project. Beyond that, the parties have agreed to go forward to the next planning phase for an LNG development in the Russian Far East. The Black Sea and Kara Sea joint venture operating companies, Tuapsemorneftegaz SARL and Karmorneftegaz SARL respectively, will begin project implementation activities as operator through an agreement with the license holder Rosneft.
Alcoa (NYSE:AA): Current price $8.05
Alcoa and OJSC RUSNANO will manufacture technologically advanced oil and gas aluminum drill pipe that is finished with a life-extending antiwear coating under a memorandum of understanding signed by the firms on Friday. Assisted by Alcoa Technical Center, the companies intend to pursue the potential application of a nanotechnology-based coating for the aluminum drill pipe, so as to improve its wear resistance in harsh corrosive drilling environments. Alcoa Chairman and Chief Executive Klaus Kleinfeld and OJSC RUSNANO Chief Executive Anatoly Chubais signed the memorandum at the St. Petersburg International Economic Forum.
The Boeing Company (NYSE:BA): Current price $99.19
The United Kingdom tour operator Thomson Airways is thinking of adding flights to locations as far apart as Hawaii and Perth, as it swaps Boeing Co. 767s for the latest 787 Dreamliners, which can fly 2,000 nautical miles farther. Thomson, which is Britain’s number-three mainline carrier by passengers, took delivery of the first of eight 787s last month, as it retires nine 767-300ERs. The Dreamliner has the capacity to fly as many as 8,200 nautical miles, compared to 5,990 for the 767 model, according to Boeing’s website.
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