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Active-Investors: Blog Exposure - ExxonMobil Restarts Production at Quake-Hit PNG LNG Project Well Ahead of Projected Timeline

LONDON, UK / ACCESSWIRE / April 17, 2018 / Active-Investors.com has just released a free research report on Exxon Mobil Corp. (NYSE: XOM) ("ExxonMobil"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/'symbol=XOM as the Company's latest news hit the wire. On April 12, 2018, the Company disclosed that it has resumed the production of liquefied natural gas (LNG) at the Papua New Guinea (PNG) LNG project. The production at the PNG LNG project was shutdown briefly after a severe 7.5 magnitude earthquake hit Papua New Guinea on February 26, 2018. The Company also shared details of the humanitarian efforts conducted in the region. Register today and get access to over 1,000 Free Research Reports by joining our site below:

www.active-investors.com/registration-sg

Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Exxon Mobil most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/'symbol=XOM

Commenting on the early resumption of production at PNG LNG, Neil W. Duffin, President of ExxonMobil Production Company, said:

"Resuming LNG production ahead of our projected eight-week timeframe is a significant achievement for ExxonMobil, our joint-venture partners, and our customers."

Production Progress Report at PNG LNG

The Company has shared that it is currently operating one train at the LNG plant near Port Moresby while it expects to restart operating the second train at this plant as the production capacity is increased over time. With the recommencement of production at this project, the Company expects to resume export of LNG soon.

On a positive note, ExxonMobil managed to complete all unrelated maintenance at the plant when it was shut down for production. The maintenance was scheduled for later in the year, but now that it has been completed much earlier, the Company can look forward to more efficient operations in the months ahead.

About PNG LNG Project

ExxonMobil's PNG LNG Project is a world-class integrated development that includes gas production and processing facilities that extend from Hela, Southern Highlands, Western, and Gulf provinces to Port Moresby in Central Province. The two facilities are connected via an over 700 kilometers of onshore and offshore pipeline and include a gas conditioning plant in Hides and a liquefaction and storage facility near Port Moresby. The production from the project is supplied to four Asian customers.

The Company is the operator of the $19 billion PNG LNG project with 33.2% interest and the remaining interest is owned by five JV partners including Papua New Guinea's Oil Search Ltd with 29% interest; Kumul Petroleum Holdings Ltd (formerly NPCP Holdings Ltd) with 16.8% interest; state-owned Mineral Resources Development Company Ltd ("MRDC") with 2.8% interest; Australia's Santos Ltd with 13.5% interest; and Japan's JX Nippon Oil & Gas Exploration with 4.7% interest.

The project has a capacity of turning around 1 billion cubic feet of natural gas turned into LNG every day. The production from the project was 7.9 million tonnes of LNG in FY16. The Company expects that the project will produce over 11 trillion cubic feet of LNG in next 30 years.

ExxonMobil's humanitarian efforts

An earthquake of 7.5 magnitude struck the Highlands region of Papua New Guinea, particularly Hela and Southern Highlands provinces. A week later, the region was hit by dozens of aftershocks. The continued tremors added to the devastation and death toll caused by the severe earthquake. Since most of the population of Papua New Guinea resides in rural areas, the lack of roads and communication networks further hindered the rescue and humanitarian efforts.

ExxonMobil has been at the forefront of the humanitarian efforts and is supporting several local and international relief agencies in the relief and restoration efforts. The Company contributed $1 million towards humanitarian efforts. Additionally, the Company's crew has donated and delivered more than 37 tons of food, 14 tons of drinking water, 600 tarpaulins used as emergency shelters, 1,000 solar lights for households, 20 larger solar lighting units for institutions as well as other essential supplies including water purification tablets, cooking aids, and hygiene kits. The Company is also playing a major role in the restoration of health care facilities, community food gardens, and it is also providing resources to help the government in its restoration and rebuilding efforts.

Commenting on the humanitarian efforts of ExxonMobil, Andrew Barry, MD of ExxonMobil PNG, added:

"While a lot of work remains to be done, we are confident that with the support of all our partners and stakeholders, we can help our friends and neighbors recover from this tragic natural disaster."

About Exxon Mobil Corp.

Irving, Texas based ExxonMobil is a one of the largest publicly traded international oil and gas Company. It is one of the world's largest integrated refiners, marketers of petroleum products, and has a global inventory of resources. It is also one of the world's largest chemical manufacturers.

The Company has been doing business in Papua New Guinea since the 1920s. Apart from the PNG LNG project, the Company also has interests in oil production and fuels marketing in Papua New Guinea. The Company employs over 2,600 in the country and 80% of these employees are Papua New Guineans.

Stock Performance Snapshot

April 16, 2018 - At Monday's closing bell, ExxonMobil's stock marginally rose 0.90%, ending the trading session at $78.54.

Volume traded for the day: 10.73 million shares.

Stock performance in the last month - up 5.54%

After yesterday's close, ExxonMobil's market cap was at $335.21 billion.

Price to Earnings (P/E) ratio was at 24.28.

The stock has a dividend yield of 3.92%.

The stock is part of the Basic Materials sector, categorized under the Major Integrated Oil & Gas industry. This sector was up 0.4% at the end of the session.

Active-Investors:

Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.

A-I has not been compensated; directly or indirectly; for producing or publishing this document.

PRESS RELEASE PROCEDURES:

The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charterholder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.

NO WARRANTY

A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

NOT AN OFFERING

This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.

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SOURCE: Active-Investors

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