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Essay / Research Paper Abstract
A 5 page paper discussing Exxon's wooing of Saudi Arabia. The decade of the 1990s has been the decade of the merger, and for more than a year the world's largest merger has been underway, that of Exxon and Mobil. Exxon Corp. CEO Lee R. Raymond and Mobil Corp. CEO Lucio A. Noto are actively marketing the new company to the former and future oil powers of the mideast in the meantime. The entire industry is in flux as Asia becomes more important in the world oil market and as profits continue to decline along with world oil prices. Bibliography lists 7 sources.
Page Count:
5 pages (~225 words per page)
File: CC6_Ksexxon.doc
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Unformatted sample text from the term paper:
the decade of the merger, and for more than a year the worlds largest merger has been underway. When Exxon and Mobils merger is complete, it will be the
largest ever seen (Anonymous, 1999). Exxon Corp. CEO Lee R. Raymond and Mobil Corp. CEO Lucio A. Noto are actively marketing the new company to the former and future
oil powers of the mideast. The entire industry is in flux as Asia becomes more important in the world oil market while profits
already were declining. Since early 1998, oil prices have declined more than 40 percent, and all of Big Oil has felt the pressures of increased competition at a time
when environmental issues are as important as ever as developing countries of the world adopt more stringent environmental laws. Competitive Pressures
The collapse in world oil prices has had telling effect at Exxon, which has reported greatly diminished first quarter earnings for the companys opening
of the year (Cooper, 1999). At the same time, Exxon is pursuing the same strategy as other giants in both its own industry and those of others in
forming alliances with those that in other areas of business are competitors. Even now, Arco Alaska Inc., Exxon Co. USA and BP Exploration (Alaska) Inc. are involved in "long-term
term test production from the Midnight Sun Field adjacent to Prudhoe Bay" (Anonymous, 1999; p. 11) in Alaska. BP is one of the
oil companies that have been giving Exxon and others fits in protecting their interests along the US West Coast and into Canada. "Recent extensive refinery upgrading and building in
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