Energy Business Review: Exxon Mobil Still Banned, First Solar Sheds a Plant

Exxon Mobil (NYSE:XOM) remains banned from bidding on new oil contracts in Iraq, and that country’s oil minister says that the edict is still under consideration, amid uncertainty as to whether Exxon has suspended its current work in the Kurdish area.

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Imperial Oil (AMEX:IMO) CEO Bruce March says that the number of projects in the oil sands sector of Canada is on track to reach 2008 levels, and that short supplies of materials and labor could easily result from the surfeit of activity. Shares in Imperial fell lately as a $2 billion price for expansion of one of its own projects in the area was revealed.

Enbridge (NYSE:ENB) buys a 50 megawatt Nevada solar plant project from First Solar (NASDAQ:FSLR), and shares of the latter company react to the sale somewhat positively. Revenues from the project, which uses First Solar’s solar modules, will be recognized in its second quarter, it says.

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To contact the reporter on this story: Mark Lawson at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com