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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.
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July 23, 2014
07:58 EDTBPBP management to meet with ISI Group
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06:36 EDTBPEU fails to impose tough sanctions on Russia, NY Times says
EU foreign ministers failed to impose any tough sanctions against Russia during a meeting of the bloc's foreign ministers yesterday, according to The New York Times. Given their dependence on Russia's energy, EU countries have "largely decided" they "have to live with" Russia, the newspaper stated. Significant Russian companies include Gazprom (OGZPY), Lukoil (LUKOY) and Yandex (YNDX), while BP (BP) has a 20% stake in major Russian energy company Rosneft. Reference Link
July 22, 2014
06:29 EDTBPEU weighing new sanctions on Russia, NY Times says
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July 21, 2014
08:16 EDTBPFMC Technologies signs agreement to develop susbsea equipment and systems
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July 18, 2014
06:33 EDTBPChinese helping Russia blunt sanctions' impact, NY Times says
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July 16, 2014
13:18 EDTBPBP aims to invest $10B in Egypt gas project, Daily News Egypt says
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06:27 EDTBPBP retirement-plan case reintroduced by U.S. court, Reuters says
The 5th U.S. Circuit Court of Appeals in New Orleans brought back a case in which participants in four BP worker retirement savings plans alleged they were tricked into purchasing and holding BP stock before and after the 2010 Deepwater Horizon disaster, according to Reuters, citing comments from BP spokesman Geoff Morrell. Reference Link
July 15, 2014
07:46 EDTBPJacobs receives project services contract from BP
Jacobs (JEC) announced that it was awarded a contract with BP (BP) to provide engineering, design and procurement services for the Coker Heater Replacement Project at its Cherry Point Refinery in Blaine, Washington. Company officials did not disclose the contract value.

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