Major oil companies are rapidly buying the small players in the Marcellus Shale gas play. Exxon Mobil Corporation just spent $1.7 billion to purchase Phillips Resources, Inc. and TWP Inc. This follows Chevron’s recent acquisition of Atlas Energy and other transactions. More on the FuelFix.com blog.
Much of the discussion at ExxonMobil’s annual shareholder meeting was on the subject of hydraulic fracturing.
The topic was also on the agenda at Chevron’s annual shareholder meeting.
An article on Platts.com reports on shareholder resolutions at ExxonMobil, Chevron and Ultra Petroleum calling for those companies to disclose information about the environmental and financial risks of hydraulic fracturing in the production of natural gas.
Exxon announced that it plans to sell 49% of its interest in shale gas plays in the Podlasie Basin of Poland. More in an article at Reuters.
ExxonMobil has placed an order with China’s Hudong-Zhonghua Shipbuilding Company for four LNG transport ships. The ships are a joint venture between Exxon and Mitsui OSK Lines. More at MarineLog.com.
