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Stock Market & Financial Investment News

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March 11, 2014
08:42 EDTCVXChevron reaffirms strategies at annual security analyst meeting
Chevron Corporation is continuing to generate industry-leading operational and financial results and advancing key projects to drive future growth, executives said today at the company’s annual security analyst meeting in New York. “World energy demand continues to grow and the outlook for the energy business remains excellent,” said John Watson, Chevron’s chairman and CEO. Watson added, “Our strategies are sound, and we’re poised to deliver significant production growth through the end of the decade. We believe this compelling growth profile, combined with flattening capital spending levels these next few years, should serve as a strong catalyst for value creation for our shareholders in the years ahead.” Jay Johnson, senior vice president, Upstream, provided an overview of Chevron’s queue of projects, exploration assets, and other long-term opportunities. “Our plan for production growth is solid and will be driven by near-term project ramp-ups as well as our larger major capital projects which begin starting up later this year.” Johnson added, “These projects are attractive, and when combined with profitable production growth from our shale and tight resource developments, are expected to add over 800,000 barrels of oil equivalent per day by 2017. We also have a deep queue of other growth opportunities which should allow us to continue growing production to the end of the decade.”
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January 27, 2015
13:08 EDTCVXUBS says oil price recovery may take five years, WSJ reports
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12:08 EDTCVXObama to propose opening up Atlantic to offshore drilling, NYT reports
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06:51 EDTCVXU.S. to propose lifting oil drilling ban off Atlantic coast, NY Times says
The Obama administration will announce later today that it will propose allowing companies to drill for oil and gas off the Atlantic coast from Virginia to Georgia, according to The New York Times, which cited an unnamed source. However, the administration will also ban drilling in some regions of Alaska, the newspaper added. Publicly traded oil companies include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
January 26, 2015
18:57 EDTCVXDeath of Saudi royal unlikely to alter oil policy or price, WSJ reports
With the passing of King Abduallah in Saudi Arabia, and his successor, King Salman saying that the Kingdom's oil policy will continue as is, it is unlikely for the price of oil to rebound in the near term, contrary to what Secretary Abdalla El Badri said recently, the Wall Street Journal reports. Carl Larry, an analyst with research consultancy Oil Outlooks & Opinions, was quoted saying "people are starting to take anything coming out of OPEC with a big grain of salt,". 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
13:16 EDTCVXOPEC chief says oil prices could rebound soon, Financial Times reports
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06:40 EDTCVXOil drops after new Saudi king retains oil minister, Reuters reports
Oil prices dropped today after Saudi Arabia's new king, Salman, reappointed the country's longtime oil minister, Ali al-Naimi, according to Reuters. 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
January 23, 2015
10:02 EDTCVXOn the Fly: Analyst Downgrade Summary
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09:41 EDTCVXPrince Alwaleed says oil price will never reach $100 again
Saudi Prince Alwaleed is speaking on CNBC. Large oil names include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).
08:18 EDTCVXProcter & Gamble added to US Focus List at Credit Suisse
Credit Suisse added Procter & Gamble (PG) to the US Focus LIst and removed Colgate-Palmolive (CL), Chevron (CVX) and Williams (WMB).
07:38 EDTCVXChevron downgraded at Credit Suisse
As previously reported, Credit Suisse downgraded Chevron to Neutral from Outperform. The analyst said the drop in oil will result in less production, increased debt, and lower upstream cash margins. Price target lowered to $115 from $130.
07:20 EDTCVXBass says 'want to be long oil companies, but don't want to buy them yet'
Oil majors include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Kyle Bass of Hayman Capital continues speaking on CNBC.
06:40 EDTCVXChevron downgraded to Neutral from Outperform at Credit Suisse
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06:34 EDTCVXAnalysts: King's death unlikely to change Saudi oil strategy, NY Times says
The death of Saudi Arabia's King Abdullah earlier today probably will not result in a change in the country's strategy as far as oil production is concerned, analysts said, according to The New York 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). Reference Link
January 21, 2015
13:43 EDTCVXOPEC El-Badri says oil will bounce back, not drop to $20, Bloomberg reports
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10:01 EDTCVXOn The Fly: Analyst Downgrade Summary
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07:37 EDTCVXWells upgrades Exxon Mobil, downgrades Chevron
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06:32 EDTCVXChevron downgraded to Market Perform from Outperform at Wells Fargo
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January 20, 2015
18:02 EDTCVXChevron Australian subsidiary signs SPA with SK LNG Trading
Chevron announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement, or SPA, with SK LNG Trading Pte. Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will receive 4.15M tons of LNG over a five-year period starting in 2017. During the time of this agreement, over 75% of Chevron’s equity LNG from Gorgon will be committed to customers in Asia.
January 19, 2015
06:47 EDTCVXJPMorgan says oil may drop below $40/barrel in near-term
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January 18, 2015
14:22 EDTCVXSchlumberger boss says oil price to challenge land producers, WSJ says
Paal Kibsgaard, CEO of Schlumberger, said U.S. energy producers are not done with work force reductions and that because of high costs, producers that focus on shale fields are worse off than rivals, says 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), Total (TOT), Schlumberger (SLB) and Baker Hughes (BHI). Reference Link
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