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Stock Market & Financial Investment News

News Breaks
February 20, 2013
13:47 EDTPTR, COPConocoPhillips announces three agreements with PetroChina
ConocoPhillips (COP) announced that it has entered into a set of agreements with PetroChina Company Ltd. (PTR) whereby PetroChina will acquire an interest in two Western Australia exploration assets and establish a Joint Study Agreement for unconventional resource development in Sichuan Basin in China. Under these agreements, which still require government and partner approvals, PetroChina will acquire a working interest in the Poseidon offshore discovery in the Browse Basin, and in the Goldwyer Shale in the onshore Canning Basin. In addition, ConocoPhillips will enter into a Joint Study Agreement to identify unconventional resource reserves in the Neijiang-Dazu Block in China's Sichuan Basin. Under the terms of the agreement with ConocoPhillips, PetroChina will acquire working interest in the two Australian projects; specifically 20 percent of Poseidon in the Browse Basin and 29% of Goldwyer in the Canning Basin. Under the JSA, ConocoPhillips and PetroChina will study the potential for unconventional resource development in the approximately 500,000 acre Neijiang-Dazu Shale Block in the Sichuan Basin. The joint study will be an important step in evaluating the potential for unconventional resource exploration in the area. If technically and commercially viable, the companies will advance development under a production sharing contract, which would be agreed upon during the study period.
News For COP;PTR From The Last 14 Days
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March 4, 2015
06:44 EDTCOPSaudi Arabia raises official oil prices, Reuters reports
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March 3, 2015
09:15 EDTCOPU.S. Chamber of Commerce to hold a discussion on U.S. energy outlook
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March 1, 2015
18:12 EDTCOPIraq's oil minister sees barrel of crude selling at around $65, Reuters says
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February 25, 2015
13:56 EDTCOPSaudi 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
06:45 EDTCOPSaudi 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 EDTCOPOpec 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 EDTCOPUSW 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 19, 2015
06:58 EDTCOPU.S. oil prices tumble after inventory data released, Reuters says
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