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Stock Market & Financial Investment News

News Breaks
December 19, 2012
06:00 EDTCEO, BPBP 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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May 27, 2015
10:14 EDTCEO, BPAnalyst says China trend good for oil equities
China's demand for oil has been stronger than expected and the trend should be positive for oil companies' stocks, research firm Bernstein wrote in a note to investors today. WHAT'S NEW: Chinese oil imports reached a record high in April, rising 9% versus the same period a year earlier, Bernstein analyst Neil Beveridge reported. The imports have exceeded expectations and have been boosted by high gasoline demand, according to the analyst. The high gasoline demand in China, in turn, has been driven by a 50% year-over-year increase in the sales of SUVs, according to Beveridge. Analysts will respond to this trend by increasing their global oil demand estimates, he predicted. Oil prices are likely to rise in the near-term, providing a tailwind for oil equities, according to Beveridge, who identified InterOil (IOC) and China's CNOOC (CEO) as two of his favorite names in the Asian region. Other publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). WHAT'S NOTABLE: Jaguar Land Rover, owned by India's Tata Motors (TTM), is launching its Range Rover Evoque SUV in China this fiscal year, but is having trouble ramping up production of the vehicle, Forbes reported last week. PRICE ACTION: in early trading, CNOOC was flat at $162.50 and InterOil slipped fractionally to $46.58.
08:04 EDTCEOChina oil demand increase to boost oil equities, says Bernstein
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05:34 EDTCEOCNOOC makes mid-sized discovery Linhua 20-2 in South China Sea
CNOOC announced that the company made a mid-sized discovery Liuhua 20-2 in the Eastern South China Sea. The Liuhua 20-2 structure is located in Northern Slope Belt of Baiyun Sag in the Pearl River Mouth Basin of the South China Sea with an average water depth of about 390 meters. The discovery well LH20-2-1 was drilled and completed at a depth of about 2,970 meters and encountered oil pay zones with a total thickness of 35.2 meters. The oil production of the well tested around 8,000 barrels per day and the crude oil density is approximately 0.75. The exploration of Liuhua 20-2 has further proved the huge exploration potential of Baiyun Sag in the Pearl River Mouth Basin, and Baiyun Sag is expected to become the new reserves growth area of deepwater exploration of crude oil in South China Sea.
May 26, 2015
09:58 EDTCEOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: L Brands (LB) upgraded to Conviction Buy from Buy at Goldman... Dollar General (DG) upgraded to Conviction Buy from Buy at Goldman... Accenture (ACN) upgraded to Outperform from Market Perform at Cowen... Expedia (EXPE) upgraded to Outperform from Market Perform at JMP Securities... The Fresh Market (TFM) upgraded to Neutral from Underperform at Longbow... Marvell (MRVL) upgraded to Overweight from Equal Weight at Morgan Stanley... Health Care REIT (HCN) upgraded to Buy from Neutral at Mizuho... Gold Fields (GFI) upgraded to Buy from Hold at HSBC... eBay (EBAY) upgraded to Buy from Hold at Axiom... CNOOC (CEO) upgraded to Neutral from Underweight at JPMorgan... Quintiles (Q) upgraded to Buy from Neutral at SunTrust... DCT Industrial (DCT) upgraded to Neutral from Underperform at Credit Suisse... Pebblebrook Hotel (PEB) upgraded to Outperform from Neutral at Credit Suisse... Fortinet (FTNT) upgraded to Buy from Hold at Needham... BB&T (BBT) upgraded to Buy from Neutral at Guggenheim... Hercules Technology (HTGC) upgraded to Outperform from Neutral at Macquarie... InterXion (INXN) upgraded to Buy from Hold at Stifel.
07:13 EDTCEOCNOOC upgraded to Neutral from Underweight at JPMorgan
JPMorgan upgraded CNOOC to Neutral citing easing Nexen impairment risk and the potential for earnings to beat expectations.
May 22, 2015
09:57 EDTBPOn The Fly: Analyst Upgrade Summary
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07:00 EDTBPBP upgraded to Neutral on reduced Russia risk at JPMorgan
JPMorgan upgraded BP (BP) to Neutral citing less risk in Russia and a pathway to cash flow neutrality in 2017. JPMorgan this morning also upgraded Total (TOT) to Overweight and Eni SpA (E) to Neutral.
05:32 EDTBPBP upgraded to Neutral from Underweight at JPMorgan
May 21, 2015
07:25 EDTBPUBS to hold a conference
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May 20, 2015
17:04 EDTBPBP to pay Transocean $125M in compensation for legal fees
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17:03 EDTBPTransocean reaches settlement agreements with BP, PSC
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15:01 EDTBPHalliburton reaches agreement with BP to resolve remaining issues
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May 19, 2015
09:50 EDTCEOCNOOC announces resignation of Chairman Wang Yilin
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May 18, 2015
10:01 EDTBPOn The Fly: Analyst Downgrade Summary
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08:12 EDTBPBP downgraded to Sell from Neutral at Goldman
Goldman downgraded BP to Sell based on limited upstream growth, a slowdown in asset disposals, and ongoing overhang from Macondo.
May 15, 2015
06:44 EDTBPEnvironmentalists file lawsuit over oil train safety rules, NY Times says
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