Exxon Mobil Returns to Madagascar and 2 Other Dow Movers to Watch
Exxon Mobil Corp. (NYSE:XOM): Current price $92.70
Exxon Mobil is returning to the island of Madagascar after four years as it reported that its affiliates in that country have obtained extensions to their output-sharing licenses, permitting exploration activities to once again go forward. The oil giant’s declaration of force majeure in 2009 dealt a blow for coup-leader-turned-president Andry Rajoelina, whose action caused a slump in foreign direct investment. Rajoelina signed the extensions in July, according to Exxon.