During Thursday’s Morning trade, Shares of Exxon Mobil Corporation (NYSE:XOM), lost -0.89% to $73.69.
Exxon Mobil Corp. is selling its troubled Southern California refinery for $537 million to a New Jersey energy company more than six months after an explosion crippled the plant and led to higher gas prices in the Golden State, according to an declaration Wednesday, according to AP.
PBF Energy Inc., one of the largest independent oil refiners in North America, said it will purchase the Torrance plant that can process 155,000 barrels of crude oil a day.
The refinery 20 miles south of downtown Los Angeles has been shut down since an explosion in February injured four contractors, caused heavy damage at the plant and rocked nearby neighbors with the blast.
California regulators have fined Exxon more than $566,000 for workplace safety and health violations related to the blast.
The shutdown led to a shortage of gas that meets California’s stricter pollution regulations and caused higher prices at the pump for drivers in the state. AP Reports
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. It also manufactures and markets commodity petrochemicals, counting olefins, aromatics, polyethylene and polypropylene plastics, and specialty products; and transports and sells crude oil, natural gas, and petroleum products.
Secondly, Golar LNG Ltd. (NASDAQ:GLNG), lost -0.61%, and is now trading at $27.71.
Wells Fargo reiterated their buy rating on shares of Golar LNG Limited (NASDAQ:GLNG) in a research report published on Wednesday morning, AnalystRatings.Net reports.
The firm also declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Thursday, September 10th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.46%. The ex-dividend date of this dividend was Tuesday, September 8th.
Golar LNG Limited, a midstream liquefied natural gas (LNG) company, engages in the transportation, regasification, liquefaction, and trading of LNG. The company operates in three segments: Vessel Operations, LNG Trading, and FLNG. It is involved in the acquisition, ownership, operation, and chartering of LNG carriers and floating storage regasification units (FSRUs); and the development of LNG projects.
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