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Stock Market & Financial Investment News

News Breaks
January 29, 2014
08:22 EDTTOT, IOCInterOil scales up operations in Papua New Guinea
InterOil (IOC) is relocating core functions from its 100-person office in Cairns, Australia, to support expanding operations in Papua New Guinea. The Cairns office will close by the end of the year. The decision to increase capacity in PNG comes as InterOil is finalizing an agreement with Total (TOT) to develop a multi-billion dollar LNG project in PNG. Work continues on completing the Total agreement by the end of Q1 2014. InterOil has also begun a new round of drilling as part of its exploration activities across almost 4M acres in PNG. The company plans to drill up to eight wells in the next 12-15 months. The commencement of drilling operations will employ an additional 300 people.
News For IOC;TOT From The Last 14 Days
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August 31, 2015
05:52 EDTIOCInterOil announces operations underway at Antelope-4 ST1
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August 28, 2015
15:12 EDTTOTTotal volatility elevated as WTI oil above $45
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August 27, 2015
05:32 EDTTOTTotal sells North Sea midstream assets for $905M
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August 23, 2015
17:49 EDTTOTIran to increase oil production as BP, Shell express interest, Bloomberg says
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August 20, 2015
06:10 EDTTOTAuction for drilling leases attracts little interest, NY Times reports
A federal auction for drilling leases in the Gulf of Mexico Wednesday attracted only $22.7M in sales from five companies, the lowest since 1986, reports the New York Times. Most companies have insisted they would not sacrifice production in future years, but executives have recently expressed concern that the oil price collapse could last through 2016 and possibly even 2017. 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
August 18, 2015
08:12 EDTTOTGlobal Big Oil sector upgraded at Citi
Citi analysts Alastair Syme and Michael Alsford upgraded their rating on the Global Big Oil space and now recommend investors position "at least a benchmark-weight" in the group. The analysts, who had been multi-year cautious on the space, prefer Total (TOT), ConocoPhillips (COP) and Statoil (STO), which they call "self-helpers." The sector price-to-book ratio of 1.2 times is now below the Q1 of 2009 and Q4 of 1998 troughs, Syme and Alsford write. Cost-cutting and better capital allocation are key to restoring the industry's profitability, they believe.

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