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Stock Market & Financial Investment News

News Breaks
March 28, 2014
05:46 EDTTOT, IOCInterOil receives notification of a dispute under Joint Venture from Oil Search
InterOil (IOC) has received notification from Oil Search of a dispute under the Joint Venture Operating Agreement relating to Petroleum Retention License 15 in Papua New Guinea. InterOil will respond in accordance with the terms of that agreement. Any proceedings commenced by Oil Search seeking to set aside the transaction completed with Total S.A. (TOT) on March 26, in which Total acquired a 40.1% interest in PRL 15, will be strongly defended.
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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