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

Promising Outlook for Tanzania's Natural Gas Sector Says IMF

By George Mwangi Special to DOW JONES NEWSWIRES Tanzania has a good chance of becoming a major producer and exporter of natural gas over the next decade, said the International Monetary Fund. Significant offshore discoveries have been made over the last two to three years and further exploration is underway, the fund said in its recent country report for Tanzania. "Although gas resources haven't yet been declared commercially viable, estimates of discoveries indicate recoverable offshore gas resources of at least 24 trillion-26 trillion cubic feet, potentially sufficient for a four-train Liquid Natural Gas plant (possibly as a common facility for several upstream gas fields)," it said. "A final investment decision is expected at the earliest in 2016 or 2017." Total investment during the development phase could amount to $20 billion-$40 billion, depending on the scale of the project. This would be the largest investment ever in Tanzania, with gas production starting in the 2020s, the IMF said. "This is beginning to generate expectations that greater spending is warranted by likely future revenues," the fund added. "However, a final decision on whether to develop a large-scale liquefied natural gas project using offshore gas resources may not be made by the natural gas companies until 2016." Also, the decisions to be made in the next few years--concerning contracts and management of revenue--will have long-term implications on whether the ensuing benefits from natural gas will accrue to all citizens, the IMF said. "A sharp slowdown in China, on the other hand, would reduce prospective FDI (Foreign Direct Investment) and credit flows to Tanzania, undermining key infrastructure investments and thereby future growth," it said. Norway's largest energy company Statoil ASA (STL.OS), U.K.-based BG Group PLC (BG.LN) and Exxon Mobil Corp. (XOM) are planning to build the first liquefied natural gas plant in the East African nation to export natural gas. Write to George Mwangi at

Stock News for Exxon Mobil (XOM)
10/27/201615:06:00Exxon Mobil Considers Forming a Trading Division -FT
10/27/201612:00:00ExxonMobil Begins Production at Port Allen Aviation Lubricants...
10/27/201611:00:00ExxonMobil Announces Significant Oil Discovery Offshore Nigeria
10/27/201608:00:00FuelCell Energy and ExxonMobil Announce Location for Fuel Cell...
10/27/201608:00:00FuelCell Energy and ExxonMobil Announce Location for Fuel Cell...
10/26/201614:10:00IBM: A Billion People to Use Watson by 2018
10/26/201613:22:00Exxon Mobil Corporation Declares Fourth Quarter Dividend
10/25/201618:19:00General Motors Brings IBM Watson Into its Vehicles
10/24/201609:00:00ExxonMobil to Release Third Quarter 2016 Financial Results
10/19/201611:28:31Statement of Changes in Beneficial Ownership (4)
10/19/201609:00:00ExxonMobil and Windmöller & Hölscher Showcase New Exceed XP P...
10/19/201607:00:00Saudi Energy Minister Sees End of Oil-Price Slump
10/17/201619:21:00Oil Search Revenue Lifted On-Quarter by Higher LNG Prices
10/17/201611:57:00ExxonMobil Expands New Exceed XP Performance Polymers Portfolio
10/17/201609:41:00ExxonMobil Expands New Exceed XP Performance Polymers Porfolio
10/17/201609:39:00ExxonMobil Introduces New Exceed XP Performance Polymers Grades...
10/17/201609:31:00ExxonMobil Introduces New Exceed XP Performance Polymers Grades...
10/10/201606:00:00InterOil Provides Update on ExxonMobil Transaction
10/05/201614:00:00NBA and ExxonMobil Announce New Multiyear Partnership in U.S...
10/05/201613:20:00BHP to Expand Oil, Gas Efforts

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations