The very biggest U.S. oil companies seem perfectly happy holding on to their refining arms given that expertise in processing oil and gas after extraction looks likely to be more in demand in the future. Exxon Mobil Corp (XOM.N) and Chevron Corp (CVX.N) have thrown their weight behind their refining arms despite repeated questions about their value in the modern oil business. The refining arm spin-off announced by ConocoPhillips (COP.N) on Thursday, coming just weeks after a similar move by Marathon Oil Corp (MRO.N), inevitably led to speculation about who would move next. Alan Gelder, head of downstream consulting at Wood Mackenzie, said Marathon's success only made Conoco's decision easier, since Conoco was already slimming its refining arm.
Exxon Mobil Corporation (Exxon Mobil) is a manufacturer and marketer of commodity petrochemicals, including olefins, aromatics, polyethylene and polypropylene plastics and a range of specialty products. Shares of XOM fell by 0.29% or $-0.24/share to $82.24. In the past year, the shares have traded as low as $55.94 and as high as $88.23. On average, 18796000 shares of XOM exchange hands on a given day and today's volume is recorded at 19413500.
Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in petroleum operations, chemicals operations, mining operations, power generation and energy services. Shares of CVX fell by 0.4% or $-0.42/share to $104.67. In the past year, the shares have traded as low as $70.96 and as high as $109.94. On average, 7599530 shares of CVX exchange hands on a given day and today's volume is recorded at 7279941.
ConocoPhillips is an international, integrated energy company. Shares of COP traded higher by 1.63% or $1.21/share to $75.61. In the past year, the shares have traded as low as $48.06 and as high as $81.80. On average, 8350620 shares of COP exchange hands on a given day and today's volume is recorded at 61977548.
Marathon Oil Corporation (Marathon) is an integrated international energy company engaged in exploration and production; oil sands mining; integrated gas, and refining, marketing and transportation. Shares of MRO fell by 1.29% or $-0.41/share to $31.30. In the past year, the shares have traded as low as $30.04 and as high as $54.33. On average, 7816050 shares of MRO exchange hands on a given day and today's volume is recorded at 7605884.
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