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Stock Market & Financial Investment News

News Breaks
February 3, 2014
05:39 EDTKEX, XOM, PSXBarge operators benefit from oil boom, WSJ reports
As energy companies increasingly use rivers and coastal waterways to move U.S. and Canadian crude oil to refineries, barge operators are experiencing a boom, reports the Wall Street Journal. Reference Link
News For KEX;XOM;PSX From The Last 14 Days
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October 22, 2014
16:33 EDTPSXPhillips 66 Partners announces acquisition of strategic logistics assets
Phillips 66 Partners LP (PSXP) has reached an agreement to acquire from Phillips 66 (PSX) two newly constructed crude oil rail-unloading facilities, located in Linden, New Jersey, and Ferndale, Washington, for $330M as well as certain assets associated with the Cross-Channel Connector Pipeline for an additional $10M. The acquisition, which is anticipated to close in early December 2014, is expected to be immediately accretive to unitholders. Upon closing of the acquisition, the Partnership plans to utilize the Cross-Channel Connector Pipeline assets to develop and undertake a new organic project to provide shippers access from the Partnership’s Pasadena Terminal to third-party systems located north of the Houston Ship Channel. The project is expected to have additional capital costs of $12.4M and is underwritten by long-term transportation service agreements with multiple shippers. The pipeline system will have an initial capacity of up to 180,000 barrels per day and is anticipated to commence commercial operations in the second quarter of 2015. In connection with the closing, Phillips 66 and the Partnership will enter into 10-year terminal services agreements for 100% of the available capacity of the rail-unloading facilities. The acquisition price for the rail-unloading facilities represents an approximate 10-times multiple of those facilities’ forecasted next 12 months’ earnings before interest, tax, depreciation and amortization. The terms of the transaction were approved by the board of directors of the general partner of Phillips 66 Partners, based on the approval and recommendation of its conflicts committee.
07:34 EDTXOMFoster Wheeler unit awarded EPC contract for Exxon Mobil Antwerp refinery
Foster Wheeler (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and constructioncontract by ExxonMobil (XOM) Petroleum & Chemical BVBA for the Antwerp Northwest Europe Resid Upgrade Project, Revamp and Offsites facilities at the Esso Antwerp Refinery at Antwerp, Belgium. Foster Wheeler's contract value was not disclosed. A small initial release of work was included in the company’s Q1 bookings. The full release of work was included in the company's Q2 bookings. Foster Wheeler’s scope of work is expected to be completed in December 2016.
October 21, 2014
10:00 EDTKEXOn The Fly: Analyst Upgrade Summary
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07:00 EDTKEXKirby upgraded to Outperform from Neutral at Macquarie
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October 16, 2014
13:54 EDTXOMGulf states to oppose OPEC oil production ceiling cut, WSJ says
Despite the recent turmoil in the oil market, Gulf nations including Saudi Arabia, Kuwait and the United Arab Emirates are seen as opposing OPEC oil-production ceiling cuts at next month's meeting, 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) and Total (TOT). Reference Link
October 15, 2014
07:44 EDTXOMExxon, Shell behind rivals in lowering greenhouse gas emissions, WSJ reports
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October 14, 2014
09:04 EDTXOMStatoil, Exxon Mobil announce additional discovery offshore Tanzania
Statoil (STO) and co-venturer Exxon Mobil (XOM) announced that the Giligiliani-1 exploration well has resulted in a new natural gas discovery offshore Tanzania. The discovery of an additional 1.2 trillion cubic feet of natural gas in place in the Giligiliani-1 well brings the total of in-place volumes up to approximately 21 tcf in block 2. The Giligiliani-1 discovery is the venture’s seventh discovery in block 2. Statoil operates the licence on block 2 on behalf of Tanzania Petroleum Development Corporation and has a 65% working interest. ExxonMobil Exploration and Production Tanzania Limited holds the remaining 35%.
October 13, 2014
07:15 EDTXOMNational Association of Corporate Directors to hold a conference
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06:36 EDTXOMSaudi Arabia content to let oil prices stay low, Reuters reports
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October 12, 2014
13:53 EDTXOMKuwaiti Minister says OPEC unlikely to cut production, WSJ says
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13:45 EDTXOMSaudis take aggressive oil measures in Europe, WSJ says
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October 10, 2014
18:17 EDTXOMExxon Mobil to receive less than $1B from Venezuelan government, Reuters says
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