ADVFN - Advanced Financial Network.
HOME» NYSE » E » XOM Stock Price » XOM Stock News

Exxon Mobil Share News

 Exxon Mobil Corp. Stock Price
XOM Stock Price
 Exxon Mobil Corp. Stock Chart
XOM Stock Chart
 Exxon Mobil Corp. Stock News
XOM Stock News
 Exxon Mobil Corp. Company Information
XOM Company Information
 Exxon Mobil Corp. Stock Trades
XOM Stock Trades

Norway Oil Fund to Mull Sale of Coal, Oil and Gas Company Shares

By Kjetil Malkenes Hovland OSLO-Norway's government Friday appointed a committee to assess the most effective strategy for its massive oil fund to combat climate change, including the potential divestment of about $80 billion worth of coal, oil and gas shares. Norway's parliament is expected to decide in early 2015 whether the $856 billion oil fund should sell its interests in coal and petroleum companies or continue as an owner and assert pressure on the companies to change course and cut carbon emissions. The fund has said that about 10% of its assets are invested in oil, coal and gas companies. "The expert group will evaluate whether the exclusion of coal and petroleum companies is a more effective strategy for addressing climate issues and promoting future change than the exercise of ownership and exertion of influence," said the Norwegian Ministry of Finance. The move has been welcomed by environmentalists who warned that a potential global climate deal and a significantly higher price on carbon emissions could force companies to leave some of their resources in the ground. Oil major Exxon Mobil Corp. (XOM) in a report this week said all its resources would be produced, as it was "highly unlikely" that the world agreed to restrict fossil fuel production in line with a low-carbon scenario. The Norwegian experts were asked to advise on the criteria for the potential exclusion of such companies, the ministry said. The government had been asked by parliament to prepare the evaluation, in a push to consider whether the fund's financial muscle could contribute to a global transition away from fossil fuels. "Until now, the prevailing view has been that there is no need for 'negative filtering' to exclude coal and petroleum companies from the fund," the ministry said. Norway's sovereign wealth fund, the world's largest, invests money from the country's significant oil and gas revenues to benefit future generations. Only a minor fraction of the fund is spent each year. The expert group will make its recommendations by the end of November this year, the government said. The committee will be chaired by Martin Skancke, an independent adviser who used to work for the government. Other members are Emeritus Professor Elroy Dimson of the London Business School, Professor Michael Hoel of the University of Oslo and Professor Laura Starks of the University of Texas. The fund has expanded more than tenfold in the past decade and is expected to be worth more than $1.2 trillion by 2020. -Write to Kjetil Malkenes Hovland at kjetilmalkenes.hovland@wsj.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Exxon Mobil (XOM)
DateTimeHeadline
12/21/201422:19:05U.S. Move to Normalize Cuba Ties Boosts Firms' Asset Claims
12/17/201420:41:07KKR Stumbles on Shale Deal
12/15/201417:10:18Tax Disputes Flair as Africa Fights 'Secret' Oil Deals
12/12/201400:26:52Fall in Oil Prices Threatens Africa's Economic Growth
12/11/201413:03:11U.S. Stocks Rally on Robust Retail Sales
12/09/201415:54:02MARKET SNAPSHOT: The S&P 500 Recorded Its Biggest Drop In Nearly...
12/05/201404:08:44Cheap Oil Primes Pumps for Round of Energy Mergers -- Update
12/04/201423:13:33Cheap Oil Primes Pumps for Round of Energy Mergers
12/03/201423:42:09MARKET SNAPSHOT: S&P 500, Dow Register Record Closes
12/03/201423:22:42MARKET SNAPSHOT: U.S. Stocks Lifted By Gains In Energy Companies
12/02/201418:28:34Chadian Crude Oil Export in 2014 Up on Year, Report Says
12/01/201419:50:16Oil Search Bids for Talisman's Papua New Guinea Assets -- 2nd...
12/01/201419:29:00Oil Search Bids for Talisman's Papua New Guinea Assets -- Update
12/01/201414:25:24U.S. Stocks Trade Lower
12/01/201404:43:14Siem Offshore Receives Contract Cancellations
11/30/201421:40:08Even After Selloff, Energy Stocks Find Few Buyers
11/28/201415:27:42MARKET SNAPSHOT: Stocks End Mixed; OPEC Sinks Energy Sector
11/28/201415:26:16OPEC Move Roils Markets
11/28/201415:25:31MARKET SNAPSHOT: U.S. Stocks: OPEC Sinks Energy Sector, Airlines...
11/28/201415:14:57MARKET SNAPSHOT: U.S. Stocks Mixed; Energy Sector Slammed, Airlines...

Exxon Mobil and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad