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Stock Market & Financial Investment News

News Breaks
February 4, 2013
07:33 EDTGEL, XOMGenesis Energy announces expansion of Gulf Coast terminal infrastructure
Genesis Energy, L.P. (GEL) plans to invest approximately $125M to improve existing assets and develop new infrastructure in Louisiana to connect into Exxon Mobil Corporation’s (XOM) Baton Rouge Refinery, one of the largest refinery complexes in North America with more than 500,000 barrels per day of refining capacity. The project is expected to generate positive economic benefits both for the community of Baton Rouge and the state of Louisiana. Genesis will improve its existing terminal at Port Hudson, Louisiana and build a new 18 mile 20” diameter crude oil pipeline connecting Port Hudson to the Maryland Terminal and continuing downstream to the Anchorage Tank Farm. The company also plans to build a new crude oil unit train facility at the Baton Rouge Maryland Terminal. At Port Hudson, Genesis will construct approximately 200,000 barrels of storage capacity to complement its 216,000 barrels of existing tank capacity and make improvements to its existing barge dock and truck station. Project construction is scheduled to begin in early 2013. The Port Hudson upgrades and new crude oil pipeline are expected to be completed by the end of 2013 and the Maryland Terminal completion is scheduled for 2Q14.
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September 16, 2014
07:19 EDTXOMCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
September 12, 2014
07:28 EDTXOMExxon Mobil at risk from sanctions on Russia, WSJ says
New sanctions enacted by the U.S. and the EU against Russia over the ongoing conflict in Ukraine threaten one of Exxon Mobil's best chances to find and tap significant amounts of crude oil via its partnership with Russia's state-owned oil company OAO Rosneft, said The Wall Street Journal. A U.S. official said the new sanctions would affect Exxon's current drilling in the Kara Sea with Rosneft, though the extent of the impact was unclear, the Journal added. Reference Link
September 10, 2014
08:22 EDTXOMBofA/Merrill oil and gas analysts hold an analyst/industry conference call
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September 3, 2014
17:19 EDTXOMExxon Mobil announces Slagen Refinery project to upgrade fuel oil
ExxonMobil affiliate Esso Norge AS announced plans to install a new processing unit at the Slagen refinery to enable production of high quality vacuum gas oil, a higher-yield feedstock used to create finished products such as diesel. The new residual flash tower is an upgrading unit that will improve the facility’s overall crude distillation process by replacing production of heavy fuel oil with lighter, higher-value gas oil.

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