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Stock Market & Financial Investment News

News Breaks
April 23, 2014
06:23 EDTBPBP agrees to sale of interests in four Alaska North Slope assets
BP announced that it has agreed to sell interests in four BP-operated oilfields on the North Slope of Alaska to Hilcorp. The sale agreement includes all of BP’s interests in the Endicott and Northstar oilfields and a 50 percent interest in each of the Liberty and the Milne Point fields. The sale also includes BP’s interests in the oil and gas pipelines associated with these fields. The agreement does not affect BP’s position as operator and co-owner of the Prudhoe Bay oilfield nor its other interests in Alaska. BP also expects to submit a development plan for Liberty by the end of 2014. As a result of the sale and subject to approval, Hilcorp is expected to become the operator of the Endicott, Northstar and Milne Point oilfields and their associated pipelines and infrastructure. BP remains committed to its plans for increased investment at Prudhoe Bay, which have resulted from recent oil tax reform by the State of Alaska. The plans include adding two drilling rigs, one in 2015 and a second in 2016, for a total incremental $1B investment over five years. These activities are expected to account for 200 Alaska jobs and 30-40 additional wells being drilled each year, bringing a boost to both the company’s operations and the state’s economy. Together the assets included in the sale represent approximately 19,700 barrels of oil equivalent a day of net production for BP, less than 15% of BP’s total net production on the North Slope.The sale, which will be subject to state and federal regulatory approval, is anticipated to be complete by the end of the year. Financial details of the transaction are not being disclosed.
News For BP From The Last 14 Days
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October 16, 2014
13:54 EDTBPGulf states to oppose OPEC oil production ceiling cut, WSJ says
Despite the recent turmoil in the oil market, Gulf nations including Saudi Arabia, Kuwait and the United Arab Emirates are seen as opposing OPEC oil-production ceiling cuts at next month's meeting, says the Wall Street Journal. 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
October 15, 2014
07:44 EDTBPExxon, Shell behind rivals in lowering greenhouse gas emissions, WSJ reports
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October 13, 2014
06:36 EDTBPSaudi Arabia content to let oil prices stay low, Reuters reports
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October 12, 2014
13:53 EDTBPKuwaiti Minister says OPEC unlikely to cut production, WSJ says
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13:45 EDTBPSaudis take aggressive oil measures in Europe, WSJ says
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October 10, 2014
09:05 EDTBPBP begins $1.1B North Sea project, Bloomberg says
BP CEO Bob Dudley said that the company is poised to begin a project worth close to $1.1B in the North Sea this month, which is anticipated to supply oil and gas into the next ten years, according to Bloomberg, citing comments from Dudley. Reference Link

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