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Stock Market & Financial Investment News

News Breaks
November 26, 2012
08:01 EDTCOPConocoPhillips to sell stake in North Caspian Sea production sharing agreement
ConocoPhillips announced that it has notified government authorities in Kazakhstan and its co-venturers of the company’s intent to sell its 8.4% interest in the North Caspian Sea Production Sharing Agreement to ONGC Videsh Limited. Subject to various government approvals, Kazakhstan state preemption rights and co-venturers’ preemption rights, ONGC Videsh Limited, the international arm of Oil and Natural Gas Corporation Limited, India, would acquire ConocoPhillips’ interest in Kashagan, which is located in the Kazakh sector of the Caspian Sea. The transaction is expected to close in the first half of 2013. Expected proceeds are approximately $5B, which represents the purchase price plus expected working capital and customary adjustments at closing.
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October 30, 2014
07:03 EDTCOPConocoPhillips reports Q3 ex-items EPS $1.29, consensus $1.20
Reports Q3 production of 1,473 MBOED from continuing operations, excluding Libya, representing 4% growth year-over-year when adjusted for downtime. ConocoPhillips said it "is on track to meet its previously stated growth target of 3 to 5 percent volume and margin growth in 2014. Full-year 2014 production from continuing operations, excluding Libya, is expected to be approximately 1,525 to 1,535 MBOED. Fourth-quarter 2014 production guidance for continuing operations, excluding Libya, is being adjusted to reflect anticipated impacts from the absence of ramp gas sales from APLNG to a third-party LNG project, temporary third-party infrastructure constraints in Malaysia and value-driven ethane rejection in the Lower 48. Fourth-quarter production guidance is 1,545 to 1,575 MBOED."
October 29, 2014
15:41 EDTCOPNotable companies reporting before tomorrow's open
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October 26, 2014
17:07 EDTCOPVenezuela decides against Citgo sale, WSJ says
Venezuela has decided against selling its U.S. refining unit Citgo, says the Wall street Journal. Earlier this year Venezuelan officials indicated that they were looking to sell Citgo for as much as $10B, added 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

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