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Stock Market & Financial Investment News

News Breaks
December 19, 2012
06:00 EDTBP, CEOBP to sell Yacheng gas field in China to KUFPEC for $308M in cash
BP today announced that it has agreed the sale of its 34.3 per cent interest in the Yacheng gas field in the South China Sea to Kuwait Foreign Petroleum Exploration Company for $308M in cash. Subject to regulatory, CNOOC (CEO) and third party approvals, BP expects the deal to close in the second half of 2013. Following completion, the Yacheng partnership will consist of CNOOC (51%), and Kuwait Foreign Petroleum Exploration Company (49%).
News For BP;CEO From The Last 14 Days
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October 31, 2014
06:31 EDTBPRussia, Ukraine reach deal on natural gas, NY Times reports
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October 30, 2014
10:02 EDTCEOOn The Fly: Analyst Downgrade Summary
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08:20 EDTBPMarathon Petroleum and partners order study of future operations for Capline
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October 29, 2014
16:12 EDTCEOCNOOC downgraded to Hold from Buy at Jefferies
05:43 EDTCEOCNOOC reports Q3 oil and gas sales revenue down 4.6% to about RMB 53.57B
In Q3, CNOOC achieved total net production of 103 MBOE, basically flat year-on-year. Production growth in Bohai offshore China remained steady, while overseas production fell slightly primarily due to scheduled maintenance at the Buzzard oilfield in the UK North Sea. During the period, the company made 1 new discovery and drilled 9 successful appraisal wells in offshore China including the mid-to-large sized discovery Jinzhou 23-2 that has excellent reservoir quality. Following the successful appraisal of Luda 21-2 structure, it is expected to be developed into a large-sized oilfield. In addition, the company and its partner Shell made a large-sized deepwater gas discovery Leopard offshore Gabon. In the third quarter, Enping 24-2 commenced production while other projects are progressing on schedule. In Q3, the unaudited oil and gas sales revenue of the company reached approximately RMB 53.57B, down 4.6% YoY. The company's average realized oil price was $98.98 per barrel, down 6.8% YoY. The company's average realized natural gas price was $6.61 per thousand cubic feet, an increase of 21.7% YoY, mainly due to the company implementing a price increase on part of the user base in China and the price increase of overseas natural gas. During the period, the company's capital expenditures reached approximately RMB 26.33B, up 19.6%, mainly due to the increase in the number of development projects and higher exploration costs on overseas deepwater projects.
October 28, 2014
07:28 EDTCEOCNOOC division signs contract with Genoil to build $700M refinery
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06:06 EDTBPBP oil spill left 'bathtub ring' on Gulf of Mexico floor, AP reports
New research shows that the BP oil spill in April 2010 left an oily "bathtub ring" on the sea floor that is nearly the size of Rhode Island, the Associated Press reports, citing a study by UC Santa Barbara’s David Valentine, the chief scientist on the federal damage assessment research ships. The study estimates that around 10M gallons of oil congealed on the Gulf of Mexico's floor around the damaged Deepwater Horizons oil rig. Reference Link
05:46 EDTBPBP raises quarterly dividend 5.3% to 10c
BP announced a quarterly dividend of 10c per ordinary share, a 5.3% year-on-year increase. It is expected to be paid in December. BP said it has continued its program of share buybacks and that $10B has now been used to buy back shares for cancellation since March 2013. Divestments with a cumulative value of $4B have now been agreed towards a total of $10B expected by the end of 2015.
05:44 EDTBPBP reports Q3 EPS 99c, consensus 91c
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05:36 EDTBPCGG SA, BP announce R&D agreement
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October 26, 2014
17:07 EDTBPVenezuela decides against Citgo sale, WSJ says
Venezuela has decided against selling its U.S. refining unit Citgo, says the Wall street Journal. Earlier this year Venezuelan officials indicated that they were looking to sell Citgo for as much as $10B, added the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
October 24, 2014
07:23 EDTBPHalliburton feels BP spill trial proposal should be declined, Bloomberg says
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06:22 EDTBPStatoil secures new Australian exploration permit
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05:42 EDTCEOCNOOC announces new discovery Jinzhou 23-2 in Bohai
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October 23, 2014
11:41 EDTBPBP downgraded to Hold from Buy at Societe Generale
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09:01 EDTBPChevron announces oil discovery in deepwater U.S. Gulf of Mexico
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06:44 EDTCEOChina to raise energy resource tax, Xinhua reports
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05:53 EDTBPBP, GDF Suez discover new Central North Sea field
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October 22, 2014
05:42 EDTCEOShell announces Gabon deep-water gas discovery
Shell (RDS.A, RDS.B)announced a frontier exploration discovery offshore Gabon, West Africa. The well Leopard-1 encountered a substantial gas column with around 200 metres net gas pay in a pre-salt reservoir. Leopard-1 is located around 145 kilometres off the Gabonese coast, west of Gamba. It was drilled in water 2,110 metres deep to a total vertical depth of 5,063 metres. Shell and partners are planning to undertake an appraisal programme to further determine the resource volumes. Leopard-1 was drilled in license BCD10, operated by Shell. Second partner in the venture is CNOOC (CEO). This frontier discovery follows recent deep water exploration successes in the heartlands for Shell Exploration in the Gulf of Mexico and Malaysia.

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