Monday, May 3, 2010

Exxon Mobil (NYSE:XOM) Joins Cleanup Effort

Exxon Mobil (NYSE:XOM) has joined BP (NYSE:BP) and others in a joint effort to clean up the oil spill after the Deepwater Horizon explosion last week.

Exxon Mobil’s CEO Rex W. Tillerson released this statement, “We are all reminded of the need to be ever vigilant in the area of safety and environmental protection as a result of this tragic incident.”

Some of the support includes technical experts sent to assist the cleanup, two supply vessels, a support vessel and freeing up a drilling rig which can be used as a place to stage the efforts.

Oil companies, including Exxon Mobil are waiting for communication from the government on what impact the oil spill will have on the opening up of offshore drilling to them.

The Administration has said additional safeguards will need to be put in place before granting any new offshore leases.

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