News Headline Summary

ExxonMobil (XOM) says will develop the Hebron oil field offshore the Canadian province of Newfoundland and Labrador

Says:
- Capital cost for the project is estimated at USD 14bln.
- Platform being designed for daily production of 150,000 barrels of oil.
- Is expected to begin oil production around the end of 2017.

Reaction details:

- No movement seen in XOM shares; trades 88.61 last (+0.1%)

Print 17:01, 04 Jan 2013 - Commodities - Source: Newswires