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Stock Market & Financial Investment News

News Breaks
March 13, 2013
10:22 EDTIOCPapua New Guinea minister disputes InterOil declaration, PNGIndustryNews says
A minister in Papua New Guinea has taken out full-page newspaper ads to dispute certain statement made by InterOil (IOC), clarifying that the approval given the company for an LNG project is conditional only and that InterOil has only been approved to develop half of the Elk-Antelope gas resources, according to PNGIndustryNews.net. Reference Link
News For IOC From The Last 14 Days
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May 27, 2015
10:14 EDTIOCAnalyst says China trend good for oil equities
China's demand for oil has been stronger than expected and the trend should be positive for oil companies' stocks, research firm Bernstein wrote in a note to investors today. WHAT'S NEW: Chinese oil imports reached a record high in April, rising 9% versus the same period a year earlier, Bernstein analyst Neil Beveridge reported. The imports have exceeded expectations and have been boosted by high gasoline demand, according to the analyst. The high gasoline demand in China, in turn, has been driven by a 50% year-over-year increase in the sales of SUVs, according to Beveridge. Analysts will respond to this trend by increasing their global oil demand estimates, he predicted. Oil prices are likely to rise in the near-term, providing a tailwind for oil equities, according to Beveridge, who identified InterOil (IOC) and China's CNOOC (CEO) as two of his favorite names in the Asian region. Other publicly traded companies in the oil space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). WHAT'S NOTABLE: Jaguar Land Rover, owned by India's Tata Motors (TTM), is launching its Range Rover Evoque SUV in China this fiscal year, but is having trouble ramping up production of the vehicle, Forbes reported last week. PRICE ACTION: in early trading, CNOOC was flat at $162.50 and InterOil slipped fractionally to $46.58.
08:04 EDTIOCChina oil demand increase to boost oil equities, says Bernstein
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May 18, 2015
09:31 EDTIOCInterOil downgraded to Neutral from Buy at Goldman
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