Exxon Mobil

Trump's pick for top diplomat calls Russia a 'danger'

He said Russia poses a "danger" to the nation.

A friend of the Kremlin and foe of sanctions in his corporate life, Tillerson told the Senate Foreign Relations Committee that he would help usher in a new era of U.S. leadership on the global stage as America's top diplomat.

Unlike Trump, who has played down the allegations of Russian malfeasance in the presidential campaign, Tilllerson said recent Russian actions "disregarded American interests" and alarmed U.S. allies, even if cooperation between Washington and Moscow remained desirable on a range of issues.

Tillerson and Exxon part ways; $180M retirement package

Tillerson will surrender, if confirmed, all unpaid stock that was part of his pay package, more than 2 million shares. In exchange, the company will make a cash payment equal to the value of those shares to a trust to be overseen by a third party, according to a regulatory filing Wednesday with the Securities and Exchange Commission.

Because of the way the compensation is being dispensed, Tillerson will give up about $7 million, compared with what he would have been paid had he retired in March as he had planned to do before the nomination.

Guyana hopes to avoid resource curse as excitement mounts for oil find

But these days, there's a surge of excitement about an anticipated windfall from major oil-and-gas deposits found in the deep seabed 120 miles (193 kilometers) off the coast — as well as worries about the disruptions and conflicts it might bring.

Hopes are high that fuel siphoned in a few years' time from more three miles (more than five kilometers) below the sea's surface might be an antidote to entrenched poverty and underdevelopment in the country of 750,000 people.

Exxon Mobil finds large deposits of oil and gas in Guyana

Energy Minister Raphael Trotman told The Associated Press on Monday that the company will drill another well in upcoming months.

Officials have said Exxon Mobil previously drilled another well last year that they believe could contain at least 700 million barrels of oil.

The company's drill site is located some 150 miles offshore from Guyana's east coast.

British petroleum giant Tullow Oil PLC and Repsol of Spain also have been exploring the area.

Stocks mostly fall in early trading as price of oil slips

Exxon Mobil was down in early trading Wednesday.

Technology stocks were bucking the downward trend. Yahoo's stock was sharply higher following reports that the company was thinking of selling its Internet businesses.

The Dow Jones industrial average slipped 10 points, less than 0.1 percent, to 17,882.

The Standard & Poor's 500 index fell a point to 2,101. The Nasdaq composite gained seven points, or 0.1 percent, to 5,163.

The price of oil fell 2 percent to $41 a barrel in New York.

A sluggish start for US stocks following a rough quarter

KEEPING SCORE: The Standard & Poor's 500 index slipped seven points, or 0.4 percent, to 1,912 as of 10:04 a.m. Eastern time. The Dow Jones industrial average slid 69 points, or 0.4 percent, to 16,212, and the Nasdaq composite fell 36 points, or 0.8 percent, to 4,583.

JOBS AHEAD: Investors are looking ahead to Friday when the government releases its monthly report on jobs. Strong hiring would likely raise expectations that the Federal Reserve will raise interest rates at its next meeting. Fed officials have said they expect to raise rates before the end of the year.

Energy stocks rise sharply as price of oil spikes

The price of oil jumped almost 6 percent Wednesday following a drop in crude inventories last week that was much steeper than analysts were expecting.

Chevron and Exxon Mobil were among the biggest gainers in the Dow Jones industrial average.

Anheuser-Busch InBev jumped 7 percent after the company made a takeover approach to SABMiller, the owner of Miller and Peroni. Other beer makers also rose.

The Dow gained 140 points, or 0.8 percent, to close at 16,739.

US stocks drop, led by fall in energy stocks

Oil fell to the lowest level since March Monday as traders worried about signs of weak demand and increasing supplies.

Chevron and Exxon Mobil were among the biggest decliners in the Dow Jones industrial average.

Investors were also watching company earnings. Tyson Foods slumped 10 percent after cutting its outlook for the year.

The Dow lost 91 points, or 0.5 percent, to 17,598.

The Standard & Poor's 500 index fell five points, or 0.3 percent, to 2,098.

The Nasdaq composite gave up 12 points, or 0.3 percent, to 5,115.

Extended slump in oil taking toll on industry, economy

Low oil and gas prices are good for the overall economy because they reduce costs for consumers and business. U.S. economic growth was higher in the second quarter, and economists say that was partly fueled by consumers spending some of their savings on gasoline at stores and restaurants.

US stocks end lower as energy stocks slump on earnings

The Standard & Poor's 500 fell four points, or 0.2 percent, to 2,103 on Friday.

The Dow Jones industrial average dropped 55 points, or 0.3 percent, to 17,690. The Nasdaq was little changed 5,128.

Shares of Exxon Mobil and Chevron, the two largest publicly traded energy companies, fell roughly 5 percent each after both companies reported slumping profits.

Bond prices rose after a report showed that U.S. wages and benefits grew in the spring at the slowest pace in 33 years.