Oil Industry Stocks: BP’s CEO Bonus, Exxon’s Controversy
On Tuesday, WTI settled at $10477 per barrel, and this figure for Brent was $121.98. BP (NYSE:BP) has paid Tony Hayward, CEO of the group, $113 million stock bonus for his performance after the oil spill in the Gulf of Mexico. Also, the firm is contemplating to sell 2 refineries – one in California and the other one in Texas. This move reflects strategy to focus on refineries in the north since Canadian crude is relatively cheap.
Exxon Mobil (NYSE:XOM) is in the midst of controversy after a January landslide that killed 25 people in a Papua New Guinea quarry used by the firm. The firm also announced that Domino-1, a Black Sea deep water exploration well, will start production not earlier than 2015.
Royal Dutch Shell (NYSE:RDSA) announced maintenance period for Ormen Lange processing plant to be in May. In addition, the firm is bidding for Cove Energy Plc, but its last bid of $1.6 billion was trumped by PTT, a state-controlled Thai company, that offered $1.76 billion. In a separate announcement, the firm appointed Andrew Brown, the head of operations in Qatar, as director of international exploration and production.
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