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Stock Market & Financial Investment News

News Breaks
January 19, 2013
14:32 EDTSTO, BPAlgerian army ends siege by militants at desert gas plant, Reuters says
The Algerian army carried out a final assault to end the Islamic militant seige at a desset gas plant, says Reuters. Reference Link
News For BP;STO From The Last 14 Days
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February 27, 2015
09:47 EDTSTOStatoil submits Peregrino phase II development plan
Following the sanction of the Peregrino phase 2 project in December, Statoil together with its partner Sinochem submitted the plan of development to the National Agency of Petroleum, Natural Gas and Biofuels in Rio de Janeiro on January 30. The project entails a new well head platform and drilling rig and adds approximately 250M barrels in recoverable resources to Peregrino field. The project entails investments of approximately $3.5B. The Peregrino field has a good track record, with more than 90M barrels produced since first oil in April 2011. Based on the current plan, Peregrino Phase II is expected to start production towards the end of the decade, but Statoil will make adjustments to the schedule should that be necessary. The current solution consists of a wellhead platform with a drilling unit tied-back to the existing FPSO Peregrino. The facilities contains standalone power generation and will export power to WHP-A. A total of 21 wells -- 15 oil producers and 6 water injectors -- are planned to be drilled as part of the Phase II development. The expected recoverable resources from the Phase II development within the concession period until end of 2040 are 250M barrels.
February 26, 2015
18:02 EDTBPHelix Energy and BP amend and defer multi-year Q5000 contract
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February 25, 2015
13:56 EDTBPSaudi Arabia aims to become second-largest refined oil exporter, WSJ says
Saudi Arabia's oil minister Ali al-Naimi said Wednesday it plans to become the world's second-largest refined oil product exporter by 2017, reports the Wall Street Journal, citing statements given at a conference. Two new refineries in Saudi Arabia will add 800,000 BPD this year, and a planned 2017 refinery in Jazan will bring the kingdom's total capacity to over 3M BPD. 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
08:26 EDTBPEnterprise Products probed by FTC after rivals complain, WSJ says
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06:45 EDTBPSaudi minister says demand for oil rising, Reuters reports
The price for Brent oil was little changed around $59 per barrel early this morning after Saudi Arbaia's energy minister said that demand for petroleum was increasing, according to Reuters. The minister added that oil markets "are calm now, Reuters added. 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
February 23, 2015
13:45 EDTBPOpec may call emergency meeting if crude continues slide, FT says
According to Diezani Alison-Madueke, Nigeria's oil minister, Opec members have discussed holding an emergency meeting if crude prices continue to tumble, says the Financial Times. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).
February 22, 2015
11:59 EDTBPUSW to expand ULP oil strike
The United Steelworkers, USW, announced that it will expand its unfair labor practice strike, ULP, by launching a work stoppage tonight at midnight at the Motiva Enterprises refinery in Port Arthur, Texas. This refinery, a 50-50 joint venture between Shell Oil Company and Saudi Refining, produces more than 600,000 barrels per day. In addition, 24 hour strike notices were delivered at Motiva’s two Louisiana refineries in Convent and Norco as well as at the Shell Chemical plant in Norco. Capacity at these facilities is 235,000 and 238,000. These refineries are also jointly operated by Royal Dutch Shell and Saudi Refining, Inc. of Saudi Arabia. “The industry’s refusal to meaningfully address safety issues through good faith bargaining gave us no other option but to expand our work stoppage,” said USW International President Leo W. Gerard. 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
February 20, 2015
07:37 EDTBPU.S. judge rejects BP request for lower fine per barrel, Reuters says
U.S. District Judge Carl Barbier has rejected BP's request for a maximum fine of $3,000 per barrel, upholding the maximum penalty of $4,300 per barrel, reports Reuters. The decision means the total fine for BP could reach $13.7B, though it is still unclear when a final decision will be reached. BP spokesman Geoff Morrell stated the company is considering its legal options. Reference Link
February 19, 2015
06:58 EDTBPU.S. oil prices tumble after inventory data released, Reuters says
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February 17, 2015
08:39 EDTBPBP to hold a webcast on energy outlook
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06:58 EDTBPBrent oil reaches $62 per barrel, Reuters reports
Driven higher by Middle East turbulence, the price of brent crude oil reached $62 per barrel today, close to its 2015 high, according to Reuters. 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

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