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Stock Market & Financial Investment News

News Breaks
February 6, 2013
09:11 EDTCVX, TOT, EChevron to develop $5.6B Mafumeira Sul Project in offshore Angola
Chevron (CVX)'s Cabinda Gulf Oil Company subsidiary will proceed with the development of the Mafumeira Sul project located offshore Angola. The $5.6B Mafumeira Sul project is the second stage of development of the Mafumeira Field located in Block 0. Mafumeira Sul is expected to reach first oil in 2015 and build toward peak total daily production of 110,000 barrels of crude oil and 10,000 barrels of liquefied petroleum gas. Chevronís subsidiary is the operator and holds a 39.2% interest in Mafumeira Sul. Chevronís partners are Sonangol E.P. (41%), Total (TOT) (10%) and ENI (E) (9.8%).
News For CVX;TOT;E From The Last 14 Days
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September 22, 2014
11:49 EDTTOTRubis in exclusive talks for Total 50% stake in SARA refinery
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06:43 EDTTOTTotal now sees producing 2.8M boepd in 2017
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September 19, 2014
18:30 EDTTOTTotal may consider spin-off of gas station business, Bloomberg reports
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12:24 EDTCVXChevron looks to sell Hawaiian oil refinery, Bloomberg says
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07:40 EDTTOTLukoil evaluating impact of sanctions on Total jv, Reuters reports
The CEO of Lukoil (LUKOY) said the company is evaluating the impact of U.S. and European sanctions on its joint venture with Total (TOT), with which the Russian company is developing the Yamal LNG project and was planning to drill for tight oil in Siberia, reported Reuters. Reference Link
06:31 EDTTOTTotal receives offer from Arkema for Bostik adhesives affiliate
Total has received an offer from the French group Arkema to acquire its Bostik affiliate, a global adhesives company. Arkemaís offer values Bostik at EUR1.74B, or around $2.25B, representing 11 times the companyís EBITDA. In light of the quality of the project, Total has granted Arkema an exclusivity period to pursue the offer, and it will be presented to the relevant employee representatives, as part of the required information and consultation procedures. Arkemaís offer for Bostik includes clear undertakings to continue operations sustainably and safeguard existing jobs and employee benefits. The proposed transaction is subject to approval by the relevant antitrust authorities.
September 18, 2014
12:23 EDTEEni makes oil discovery in Ecuador, estimates suggest 300M barrels of oil
Eni has made a significant oil discovery in Ecuador at the Oglan-2 exploration well located in Block 10, approximately 260 kilometers southeast of Quito. Early estimates suggest that the Oglan discovery potentially contains about 300M barrels of oil in place. The well, drilled to a total depth of 6,450 feet, encountered a 236 foot net crude oil column. During a production test, constrained by surface facilities, the well flowed at 1,100 barrels of oil per day. The data acquired in Oglan well indicate a production capacity per well up to 2,000 barrels of oil per day. Eni will immediately begin the studies for the commercial exploitation of the Oglan discovery. Reference Link
September 16, 2014
13:40 EDTCVXChevron alternative fuel research unsuccessful, Bloomberg says
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10:47 EDTCVX, TOTBadri sees OPEC lowering oil output target at next meeting, Reuters says
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September 15, 2014
20:02 EDTCVXConocoPhillips auctioning 24% stake in the Clair oilfield, FT reports
ConocoPhillips (COP) has hired banks to sell its 24% stake in UK's largest oilfield, The Financial Times reports, citing people familiar with the matter. The 24% stake could be valued between $2B-$3B, the people added. The Clair oilfield sits in Scottish territorial waters, and Conoco's interest in exiting the project is a sign of the challenges facing the North Sea oil industry, The Financial Times added. BP (BP) operates the Clair oilfield and owns a 28.6% stake, Royal Dutch Shell (RDS.A) controls a 28.6% stake, and Chevron (CVX) controls a 19% stake. Reference Link
07:02 EDTCVXMcDermott completes contract scope for Jack, St. Malo project
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06:29 EDTCVXChevron pipeline shut down following accident that killed one, WSJ reports
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September 12, 2014
11:49 EDTCVXChevron CEO looks for partner before Kitimat project decision, Bloomberg says
Chevron CEO John Watson said that the firm needs to locate a partner, finalize natural gas contracts and examine engineering expenses prior to making a choice regarding its Canadian liquefied natural gas project in Kitimat, according to Bloomberg, citing comments from Watson. Reference Link
September 11, 2014
07:10 EDTEEni: no illegal conduct on Opl 245 acquisition
In relation to the preliminary investigation launched by the Milan Prosecutor's office on the acquisition of the block OPL 245 in 2011, Eni (E) continues to deny any illegal conduct. Eni highlights that it entered into agreements for the acquisition of the block only with government of Nigeria and Shell (RDS.A). The entire payment for the issuance of the license to Eni and Shell was made uniquely to the Nigerian government. Eni notes that, according to documents received yesterday as part of a foreign procedure ordering the seizure of a third party's bank account, following a request by the Prosecutor of Milan, Eni's CEO and Chief Development, Operations and Technology Officer are under preliminary investigation by the Milan prosecutor's office. Eni is cooperating with the Milan prosecutor's office, and is confident that the correctness of its actions will emerge during the course of the investigation.
September 10, 2014
08:22 EDTTOT, CVXBofA/Merrill oil and gas analysts hold an analyst/industry conference call
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September 9, 2014
10:10 EDTCVXOn the Fly: Analyst Downgrade Summary
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10:10 EDTTOTOn the Fly: Analyst Upgrade Summary
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07:40 EDTCVXChevron downgraded to Underperform from Neutral at BofA/Merrill
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07:40 EDTTOTTotal upgraded to Neutral from Underperform at BofA/Merrill
06:15 EDTTOTTotal upgraded to Neutral from Underperform at BofA/Merrill
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