Exxon Mobil has nearly $40bn in cash reserves, thanks to conservative investment and high oil prices in 2008. Add to this $225 billion in repurchased stock, and Exxon has enough resources to buy oil major Shell for a 60% premium. Shell India is currently importing LNG at a price of $9.06 per mmBtu (1 mmBtu == 1 GJ or 1 thousand million Joules of energy) from Australia's North West Shelf. The gas is destined for Hazira terminal, Gujarat (India West Coast), a joint venture between Shell and Total. Hazira was developed at a cost of Rs 3,000 crore (which is 30 billion rupees). Currently (Jan09) 1USD is about Rs 50, so the cost of the terminal is about $600m (at current x-rates). Shell owns 74% of the Hazira companies.
Exxon CEO Rex Tillerson from Wichita Falls, Texas has also spoken out about opening up US supplies of oil and natural gas which would boost jobs.
Need to brush up on SI Units? Check out this data sheet from Berlin.
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