HONG KONG, Feb. 17 /PRNewswire/ - Today, www.WorldStreetFundamentals.com released its industry report highlighting petrochemical giants Exxon Mobil Corporation (NYSE: XOM) and Chevron Corporation (NYSE: CVX). Investors from around the world are invited to view fundamental and technical analysis at www.WorldStreetFundamentals.com.
As an oil producer, Egypt remains a small contributor, producing a little bit less than 1% of the world's total supply. Together, the Suez-Mediterranean pipeline and the canal itself account for three million barrels a day out of a total of about 88 million barrels worldwide, representing 3.5% of world production. A closure of the Suez-Canal would not represent disaster for major producers or index prices.
According to the EIA, global oil demand is expected to grow at a healthy rate this year, supported by the continued economic recovery. Average global consumption growth over the next 2 years is likely to return to rates seen before the onset of the global downturn in 2008. The energy-monitoring body of 28 industrialized countries, International Energy Agency (IEA), raised its 2010 and 2011 world oil demand outlook. Impacts of global economic growth and frigid weather conditions in the northern hemisphere were cited as major influences in expected numbers. Upgrades in anticipated global oil demand for 2011 were also made by the Organization of the Petroleum Exporting Countries (OPEC), an intergovernmental organization that supplies around 40% of the world's crude.
Exxon has raised its dividend every year since 1983, and currently pays an annual dividend of 1.76 for a yield of around 2.20 percent. Recently, the oil giant posted fourth quarter earnings of $1.85 per share on $105.2 billion in revenue.
Exxon's industry peer, Chevron, presently pays an annual dividend of 2.88 for a yield of around 3.20 percent. The company said fourth quarter net profit increased to $5.32 billion or $2.64 a share, from $3.1 billion, or $1.53 a share, in the year-earlier period.
To view fundamental and technical analysis on these two industry leaders we encourage investors to visit: www.WorldStreetFundamentals.com
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SOURCE World Street Fundamentals