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Tuesday, July 15, 2014

S.Africa ready to re-evaluate new oil and gas law - mines minister, (NYSE: XOM)

South Africa may reconsider a new oil and gas law to ensure that investors can be make profits while securing a place for the state in the sector, Mineral Resources Minister Ngoako Ramatlhodi said on Tuesday. Parliament passed the law in March, giving the state a 20 percent free stake in new gas and oil exploration and production ventures and alarming operators such as Total and Exxon Mobil, which are looking to explore in South Africa.

Exxon Mobil Corporation 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 0.16% or $-0.16/share to $102.52. In the past year, the shares have traded as low as $84.79 and as high as $104.61. On average, 9401110 shares of XOM exchange hands on a given day and today's volume is recorded at 1215014.