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Stock Market & Financial Investment News

News Breaks
January 17, 2013
09:57 EDTBP, STOBP confirms major security incident at In Amenas JV site continuing
BP (BP) confirmed in a press release that the major security incident at the In Amenas joint venture site in Algeria is continuing. BP said, "The situation on site remains unresolved and fragile. Armed groups still occupy the site and hold a number of site personnel. BPs overriding priority is to do all we can to ensure the safety of our staff and to support their families during this anguishing time. All our efforts are focussed on supporting the authorities to secure a peaceful resolution of the situation and the safe return of our colleagues, and all other workers being detained. A number of BP staff are among those held on the site. To ensure we do not risk compromising the safety of these staff in any way, we do not currently intend to publicly release details of our staff members; their number, nationalities or identities. We are in contact with the families of those BP staff, offering them support and information. We will remain in frequent contact with the families to provide support and update them on developments. BP is in regular contact with the Algerian authorities, with our partners at Statoil (STO) and with other companies involved in the situation. BP is also keeping the UK government and authorities, and those of a number of other countries, advised on developments in the evolving situation and working closely with them to liaise with the Algerian authorities and further support the families."
News For BP;STO From The Last 14 Days
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August 31, 2015
13:26 EDTBPBP volatility elevated as WTI oil rally's 4% to $47
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August 28, 2015
14:02 EDTBPBP volatility elevated as WTI oil rally's 7.2% to $45.75
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August 27, 2015
12:50 EDTBPPeltz rumored to be building stake in Diageo, Harrington says
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09:11 EDTBPBP volatility elevated as shares trade at five-year low
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07:57 EDTSTOPlatts to hold a conference
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August 24, 2015
14:25 EDTBPBP refrains from trip to Iran amid U.S. sanction concerns, FT says
BP has chosen not to join U.K. foreign secretary Philip Hammond's trip to reopen the country's Iranian embassy due to concerns over U.S. sanctions that are still in effect, the Financial Times reports, citing people close to the company. "Sanctions are still in place and we will not do anything while that is the case. We are monitoring the situation and will take a look at the opportunities," said the company, according to the publication. Reference Link
09:23 EDTBPGevo, Butamax enter global patent cross-license, settlement agreements
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August 23, 2015
17:49 EDTBPIran to increase oil production as BP, Shell express interest, Bloomberg says
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August 20, 2015
06:10 EDTBPAuction for drilling leases attracts little interest, NY Times reports
A federal auction for drilling leases in the Gulf of Mexico Wednesday attracted only $22.7M in sales from five companies, the lowest since 1986, reports the New York Times. Most companies have insisted they would not sacrifice production in future years, but executives have recently expressed concern that the oil price collapse could last through 2016 and possibly even 2017. 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
August 18, 2015
08:12 EDTSTOGlobal Big Oil sector upgraded at Citi
Citi analysts Alastair Syme and Michael Alsford upgraded their rating on the Global Big Oil space and now recommend investors position "at least a benchmark-weight" in the group. The analysts, who had been multi-year cautious on the space, prefer Total (TOT), ConocoPhillips (COP) and Statoil (STO), which they call "self-helpers." The sector price-to-book ratio of 1.2 times is now below the Q1 of 2009 and Q4 of 1998 troughs, Syme and Alsford write. Cost-cutting and better capital allocation are key to restoring the industry's profitability, they believe.
August 17, 2015
10:03 EDTBPEmerson signs 10-year agreement with BP for enhanced oil and gas execution
BP (BP) and Emerson (EMR) have signed a global agreement for Emerson Process Management, a global business of Emerson, to provide automation technologies and aftercare services for BP's upstream oil and gas operations. The new 10-year agreement extends the existing arrangement between the companies, allowing Emerson to provide an expanded scope of technologies and expertise that help ensure safe and competitive projects and support BP's Field of the Future program for enhanced operating efficiency and oil recovery. The new agreement expands the companies' existing relationship on upstream projects. Under the scope of the new agreement, Emerson will continue to supply automation system technologies, including distributed control systems and safety instrumented systems, but will now also provide valves and measurement instruments as well as technologies for supervisory control and data acquisition, asset management, and machinery health monitoring.
06:45 EDTBPBP investors not sold on takeover talks, FT reports
Few BP investors have enough faith to buy into takeover talk given the company's own aggressive cost-cutting campaign might have eliminated the synergy upside to a potential purchaser, the Financial Times reports. Reference Link

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