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Stock Market & Financial Investment News

News Breaks
March 28, 2013
07:08 EDTCOP, BP, RDS.B, CVX, RDS.ABP, Shell, others to invest $500M in Clair field drilling program
BP (BP) and its co-venturers Shell (RDS.A), ConocoPhillips (COP) and Chevron (CVX) announced their decision to proceed with a two-year appraisal program to look at the possibility of developing a third phase of the giant Clair field, west of the Shetland Islands. The initial commitment involves a two year program to drill five appraisal wells. This could increase to between eight and twelve wells, depending on results from these first wells. Drilling of the first well commenced recently. The objectives of the program are to provide greater certainty on overall reservoir volumes, including their distribution and fluid characteristics; to evaluate technologies to improve recovery from Greater Clair; and to test the possibility of new standalone developments and linkages to Clair Ridge. The initial investment in the appraisal program will be greater than $500M gross.
News For B;COP;CVX From The Last 14 Days
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May 27, 2015
13:02 EDTCVXChevron says plans to reduce capital spending
Chevron provided an overview of the company’s 2014 operational and social performance and how the company is managing through current market conditions at its 2015 Annual Meeting of Stockholders in San Ramon, California. “We have the financial strength to meet the challenges of a volatile crude price environment and significant efforts are underway to manage to a lower cost structure and capital spend rate,” said John Watson, chairman of the board and CEO. “We’re reducing capital spending, we have implemented significant cost-reduction programs and have further streamlined our portfolio as planned.” The company informed stockholders on its commitment to safety, noting that 2014 was Chevron’s best year on every key measure of personal safety, process safety and environmental performance.
10:14 EDTCOP, CVXAnalyst 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 25, 2015
13:23 EDTCOPCenovus Energy pauses operations at Foster Creek, Athabasca due to forest fire
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May 21, 2015
07:25 EDTCOPUBS to hold a conference
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May 20, 2015
07:26 EDTCVX, COPUBS to hold a conference
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May 19, 2015
09:37 EDTCVXActive equity options trading on open
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May 18, 2015
10:01 EDTCVXOn The Fly: Analyst Downgrade Summary
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09:36 EDTCVXActive equity options trading on open
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09:20 EDTCVXW.R. Grace, Chevron JV to build catalysts plant in Lake Charles, LA
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07:56 EDTCVXKosmos provides update on Mauritania drilling
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07:23 EDTCVXChevron downgraded to Sell from Neutral at Goldman
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06:06 EDTCOPConocoPhillips sees holding CapEx flat for next three years, Reuters reports
ConocoPhillips CEO Ryan Lance told Reuters in an interview that the energy company is planning to hold its capital expenditure level over the next three years. The company cut its 2015 capital budget to $11.5B in January due to the oil price drop, but now sees maintaining the CapEx view for three years despite a slight recovery in oil prices. Reference Link
May 15, 2015
09:01 EDTCOPErin Energy receives government approval for license extension in The Gambia
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06:44 EDTCVX, COPEnvironmentalists file lawsuit over oil train safety rules, NY Times says
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