Is Exxon Mobil Enticing After Recent Headlines?
T = Trends for a Stock’s Movement
Exxon Mobil is a manufacturer and marketer of commodity petrochemicals like olefins, aromatics, polyethylene, and polypropylene plastics, as well as a range of specialty products. The company has a number of divisions and affiliates with names that include ExxonMobil, Exxon, Esso, and Mobil, which operate or market products in the United States and other countries. Exxon Mobil’s principal business is energy, involving the exploration for and production of crude oil and natural gas; manufacture of petroleum products; and transportation and sale of crude oil, natural gas, and petroleum products.
On Monday, a Vietnamese newspaper — Thanh Nien — reported that the world’s largest energy company, Exxon Mobil, plans on investing $20 billion in a gas-fired power complex along with Vietnam’s state-owned oil and gas company, PetroVietnam. The two companies will build two power plants with a capacity to generate 6,000-6,500 megawatts of power. While the news has not yet been confirmed by Exxon Mobil itself, we learned the same day that the company sold $5.5 billion in senior notes, which is a big deal considering that the company only has $22.7 billion in debt outstanding.