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Stock Market & Financial Investment News

News Breaks
October 15, 2012
06:02 EDTTSO, RDS.A, XOM, CVX, CVI, BPU.S. oil production surges but consumers paying more, WSJ reports
Soaring U.S. oil production is pushing down domestic benchmark crude prices and delivering a windfall to some refiners and their investors. But it's not helping consumers at the pump, reports the Wall Street Journal. U.S. crude production is expected to rise 12% this year and 8% in 2013, when it will hit the highest level since 1993, according to government figures. The price of West Texas crude, the U.S. benchmark, has fallen 7% this year, held down by rising supplies from new drilling methods. Still, gasoline prices currently average nearly $4 per gallon nationwide. Reference Link
News For A;BP;XOM;TSO;CVI From The Last 14 Days
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December 11, 2014
05:27 EDTXOMExxon Mobil, Saudi Aramco JV complete clean fuels project
Saudi Aramco Mobil Refinery Company, or SAMREF, a joint venture of Saudi Aramco and ExxonMobil, has completed construction of major desulfurization facilities, including a new hydrotreater, that dramatically cuts sulfur levels in gasoline and diesel. The project is the largest investment in SAMREF’s history and will reduce the sulfur levels in gasoline and diesel by more than 98%, to 10 parts per million.
December 10, 2014
16:44 EDTXOMOn The Fly: Closing Wrap
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12:42 EDTBPBP volatility increases as shares trade at 30-month low
BP December and January call option implied volatility is at 31; compared to its 26-week average of 17 according to Track Data, suggesting large price movement.
10:00 EDTBPOn The Fly: Analyst Upgrade Summary
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08:12 EDTTSOTesoro price target raised to $100 from $86 at Credit Suisse
Credit Suisse raised Outperform rated Tesoro's price target to $100 following the growth strategy update.
08:04 EDTXOMExxon Mobil management to meet with UBS
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06:06 EDTBPBP sees $1B in group-wide restructuring charges over coming year
"Although the current environment is challenging, BP is well-positioned to respond and manage our Upstream business for the long term,” said Upstream CEO Lamar McKay. “We expect to see growth from our conventional and deepwater assets and an increasing contribution from gas. And we also have a quality pipeline of opportunities that we believe are capable of extending underlying growth well beyond 2020. Our focus throughout will remain firmly on safe operations, execution efficiency and greater plant reliability.” BP also said that, as part of its wider ongoing Group-wide programme to simplify across its Upstream and Downstream activities and corporate functions, it expects to incur non-operating restructuring charges of circa $1B in total over the next five quarters, including the current quarter. Details of these charges and further guidance on the program are expected to be given with each quarter’s results. Across the Group, BP has said it will be looking to pare or re-phase capital expenditure without compromising safety or future growth. In October, BP told investors this could result in reductions of $1B-$2B in capital expenditure across the Group in 2015 against guidance of $24B-$26B laid out in March. This will be reviewed further as part of the 2015 plan, recognising the current outlook for oil prices. Between now and 2020, the Upstream team’s focus will be on delivery, through safe and reliable operations, strong execution in the existing base business, and the start-up of a suite of new projects which are expected to be capable of adding over 900,000 barrels of oil equivalent a day of net incremental production to BP’s portfolio by 2020. BP will also be progressing opportunities expected to continue to drive underlying growth into the next decade as it builds out its well-established conventional and deepwater oil positions and a distinctive and material portfolio of gas options.
05:53 EDTBPBP upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded BP (BP) to Buy saying shares could see an inflection point in 2015 with the Macondo penalty phase going to trial in January. Deutsche coupled the upgrade of BP with a downgrade of Royal Dutch Shell (RDS.A) to Hold.
December 9, 2014
11:40 EDTBPBP to invest $12B in Egypt over next five years, Reuters reports
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08:55 EDTXOMExxon Mobil to hold a webcast
Vice Presidents Colton and Cohen hold a webcast to launch ExxonMobil's 2015 Outlook for Energy: A View to 2040 on December 9 at 1 pm. Webcast Link
08:39 EDTBPBP to close U.S. cellulosic operations, Bloomberg reports
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08:15 EDTTSOTesoro to outline potential drop down assets of at least $500M potential EBITDA
Tesoro (TSO) and Tesoro Logistics (TLLP) will host their annual analyst and investor day. At the meeting, Tesoro will outline potential drop down assets that represent at least $500M of potential EBITDA for the logistics business. These drop downs compliment the substantial organic growth opportunities being executed by this business, the company stated.
08:14 EDTTSOTesoro Logistics accelerates timeline to reach $1B of EBITDA to 2017
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08:13 EDTTSOTesoro expects to exceed 2014 improvement targets by over 30%
Tesoro (TSO) and Tesoro Logistics (TLLP) will host their annual analyst and investor day and the companies will provide details on the specific initiatives underway which will drive growth and create value for shareholders and unitholders. They will also provide a full-year 2015 financial outlook and detailed longer-term financial goals. "I am proud to report that in 2014 we have not only met, but we expect to exceed our targets by 30%. "In 2015, we expect to continue this momentum and deliver over $550M of additional improvements which will significantly increase shareholder value by capitalizing on our strong position on the West Coast, capturing margin improvements across our value chain and growing our logistics business," said Greg Goff, Tesoro President and CEO.
December 8, 2014
10:53 EDTBPBP to continue advocating for probe of suspicious, implausible spill claims
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10:11 EDTBPBP's plea to review Deepwater Horizon settlement rejected, WSJ reports
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08:09 EDTXOMExxon Mobil management to meet with UBS
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07:53 EDTXOM, BPClimate for Exxon E&P acquisition improved by falling prices, WSJ says
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06:09 EDTBPBP to cut hundreds of U.K. jobs this week, Guardian reports
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December 7, 2014
19:41 EDTBPBP set to reduce middle management ranks, freeze projects, Sunday Times says
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