MOBIL <MOB> LONG TERM DEBT DOWN IN 1986
Mobil Corp made a 15 pct reduction in
its long term debt in 1986 from the previous year according to
data in its 1986 annual report.
    Mobil chairman, Allen E. Murray said in his report to
shareholders, "that lower debt and our strong cash and
marketable securities position improves Mobil's flexibility."
    Long term debt as of December 31, 1986 was put at 7.9
billion dlrs, down 15 pct from 9.3 billion dlrs on the same day
in 1985.
    Mobil has moved to reduce debt at high interest rates,
which may reduce interest payments.
    Murray said that with the results from 1986, "we're paying
back 3.8 billion dlrs in the past two years, or the equivalent
of 66 pct of the debt incurred in 1984 when we bought Superior
Oil."
    Mobil said that it has about 183 mln dlrs of long term debt
which is due in 1987 although this will rise appreciably to 1.2
billion dlrs of long term debt due in 1988.
    At the end of 1986, Mobil said it also had an existing
effective shelf registration with the Securities and Exchange
Commmission to permit the sale of 205 mln dlrs of debt.
   Mobil's debt reduction program has also been abetted by
several steps taken by the company to restructure its
operations.
    Mobil's Murray said in his remarks to shareholders that the
company was continuing to dispose of assets which did not fit
the company's long range plans and had realized some 1.1
billion dlrs from the sale of its Container Corp subsidiary.
    Murray said that as a result of lower debt and more
efficient operations "the company is now is a position to seize
opportunities that may become available and use this strength
in whatever way best builds shareholder value."
 Reuter
