On Thursday, Shares of Exxon Mobil Corporation (NYSE:XOM), lost -0.18% to $78.65.
Exxon Mobil Corporation has asked air quality officials to allow it to enhance refining operations at its Torrance facility — a move that comes as Los Angeles-area gasoline prices jumped nearly 6 cents because of refinery woes, according to Los Angeles Times.
Exxon Mobil’s plan comprises use of an old pollution-control system to temporarily replace one damaged in a February explosion. The old equipment is predictable to release pollutants at levels that will violate rules of the South Coast Air Quality Administration District, but the proposal comprises steps to assist mitigate the emissions. Los Angeles Times Reports
The company plans to modify five cooling towers and shut down a boiler to reduce overall emissions from the refinery. In addition, Exxon Mobil will operate the refinery at a capacity of about 80% to 85% to assist control emissions.
The proposal will go before the air quality agency’s board during a public hearing Sept. 2. If the proposal is approved, Exxon Mobil could enhance its operations in Torrance by mid- to late September. Los Angeles Times added.
Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania.
Finally, Houlihan Lokey, Inc. (NYSE:HLI), ended its last trade with 6.67% surge, and closed at $22.40.
Houlihan Lokey declared the pricing of its initial public offering of 10,500,000 shares of its Class A common stock at a public offering price of $21.00 per share. The shares are predictable to start trading on Thursday, August 13, 2015 on the New York Stock Exchange under the ticker symbol “HLI.” All of the shares are being offered by an associate of ORIX USA Corporation and certain of the Company’s employees and members of administration. The associate of ORIX USA Corporation has also granted the underwriters a 30-day option to purchase up to an additional 1,575,000 shares of Class A common stock. Houlihan Lokey will not receive any proceeds from the offering, counting from any exercise by the underwriters of their option to purchase additional shares.
BofA Merrill Lynch and Goldman, Sachs & Co. are lead joint book-running managers for the offering. Additional book-running managers are UBS Investment Bank, Keefe, Bruyette & Woods and Houlihan Lokey. Co-managers are Sandler O’Neill + Partners, L.P. and JMP Securities.
Houlihan Lokey, Inc., an investment banking company, provides corporate finance, financial restructuring, and financial advisory services in the United States, Canada, Europe, Asia, Australia, the Middle East, Latin America, and Africa.
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