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Old 29th May 2015, 19:53   #1
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Default ExxonMobil to set up Rs. 3,000 crore R&D Centre in Bangalore

American oil and gas company ExxonMobil, is planning to set up a technology and research and development centre in India. The company is believed to be investing US $ 400-500 million (Rs. 2,500-3,150 crore for the facility. While ExxonMobil has not commented on the amount of investment, it has confirmed the development.

The new centre will come up in Bangalore and is expected to house 1,000 employees initially. By the time the centre is fully functional, it is expected to have 5,000-6,000 employees. The facility is expected to begin operations in late 2015.

It must be noted that at the moment, oil prices have plummeted. This has put pressure on oil companies to cut costs.

ExxonMobil had a turnover of US $ 412 billion last year. It is the second biggest American company by revenue, after Wal-Mart and estimated to be the fifth or sixth biggest company in the world.

Source: Economic Times
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Old 29th May 2015, 22:03   #2
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Default Re: ExxonMobil to set up Rs. 3,000 crore R&D Centre in Bangalore

Great news for us folks in the oil industry. Shell already has a huge presence in bangalore and one of its global technical services hubs is in the city. Now Bangalore is set to become a techical services hub for the global oil industry with this decision by Exxon.

Last edited by bullrun87 : 29th May 2015 at 22:06.
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Old 31st May 2015, 15:22   #3
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Default Re: ExxonMobil to set up Rs. 3,000 crore R&D Centre in Bangalore

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Originally Posted by bullrun87 View Post
Great news for us folks in the oil industry. Shell already has a huge presence in bangalore and one of its global technical services hubs is in the city. Now Bangalore is set to become a techical services hub for the global oil industry with this decision by Exxon.
Why do you mention it as technical services hub in Bangalore? I thought the report mentions as R&D.
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Old 31st May 2015, 16:33   #4
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Default Re: ExxonMobil to set up Rs. 3,000 crore R&D Centre in Bangalore

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Originally Posted by gopa99 View Post
Why do you mention it as technical services hub in Bangalore? I thought the report mentions as R&D.
Most sources are quoting it as a "technical and business support center" probably along the lines of what shell has in bangalore.
http://economictimes.indiatimes.com/...w/47461187.cms
http://timesofindia.indiatimes.com/b...w/47451155.cms
http://www.nationmultimedia.com/busi...-30261268.html
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