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Stock Market & Financial Investment News

News Breaks
February 11, 2013
11:38 EDTBP, DOWFreeport LNG signs 20-year liquefaction tolling agreement with BP
Freeport LNG announced that it had entered into a binding 20-year Liquefaction Tolling Agreement with BP (BP) for 4.4 million tons per annum, equivalent to the production capacity of the second train of Freeport LNG's proposed natural gas liquefaction and LNG loading facility on Quintana Island near Freeport, Texas. The LTA with BP will commence upon completion of construction of the second liquefaction train, Freeport said. Freeport LNG Expansion is a wholly owned subsidiary of Freeport LNG Development, which has four limited partners, including a wholly owned subsidiary of The Dow Chemical Company (DOW).
News For BP;DOW From The Last 14 Days
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May 27, 2015
10:14 EDTBPAnalyst 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.
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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08:48 EDTDOWNomura taking a bullish long-term view on ethylene
Nomura believes the market is overestimating the potential decline in ethylene/polyethylene margins. The sees the current global tightness as a bullish sign for 2016-2017 and recommends positioning Dow Chemical (DOW) over LyondellBasell (LYB) due to lower reliance on an upside ethylene margin story.
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.

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