Friday, the head of ExxonMobil's shale oil and gas business was arrested on charges of bribery. The executive, identified as Stuart McGill, was taken into custody in Fort Worth, Texas, following a year-long investigation by the United States Department of Justice. This comes as a huge blow to ExxonMobil, as their shale business is central to their $35 billion takeover of explorer XTO Energy Inc, which was completed in 2010. The arrest raises concerns about the integrity of the company and its executives, and the potential implications for the future of ExxonMobil and the energy industry as a whole.
1. The head of ExxonMobil's shale oil and gas business, Stuart McGill, has been arrested on charges of bribery.
2. The arrest comes after a year-long investigation by the United States Department of Justice.
3. This arrest is a significant blow to ExxonMobil, as their shale business plays a central role in their $35 billion takeover of XTO Energy Inc.
4. The arrest raises concerns about the integrity of ExxonMobil and its executives, as well as the potential implications for the future of the energy industry.
5. It remains uncertain how this development will impact ExxonMobil's takeover plans and the long-term prospects of the shale oil and gas business.
One specific stat related to this subject is that the takeover of XTO Energy Inc by ExxonMobil amounted to $35 billion in 2010.
charges of fraud and illegal activities. This shocking news has sent shockwaves throughout the industry, raising concerns about the company's ethical practices and jeopardizing its reputation. The arrest of such a high-ranking executive highlights the importance of scrutinizing the actions of major corporations, especially those in the energy sector, which have a significant impact on our environment and global economy. It remains to be seen how this development will affect ExxonMobil's takeover plans and the long-term prospects of the shale oil and gas business.