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Stock Market & Financial Investment News

News Breaks
June 4, 2014
06:23 EDTLYG, BPLloyds withdraws from finance deal to help BP acquire oil, The Independent says
Lloyds (LYG) has withdrawn from a trade finance deal work between GBP 895M to GBP 1.2B that would involve Russian oil company Rosneft, reports The Independent. Lloyds was among the banks that was a mandated lead arranger on the loan to finance BP's (BP) purchase of crude oila nd refined products from Rosneft. Reference Link
News For LYG;BP From The Last 14 Days
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November 25, 2015
17:56 EDTLYGLloyds to announce plans to cut 1,000 jobs, Bloomberg says
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November 17, 2015
10:16 EDTBPBP confirms exploring sale of Alabama petrochemical facility
BP confirmed that it has decided to market for sale its Decatur, Alabama, petrochemicals complex as part of a broader reorganization of the company's global petrochemicals business. BP said its refocused petrochemicals strategy is pursuing a competitively advantaged portfolio through world-scale, low-cost facilities that utilize BP proprietary technology including the production of purified terephthalic acid, or PTA, a key raw material in the production of polyester. BP is spending $200M to upgrade its Cooper River, S.C., plant and its sister facility in Geel, Belgium - the largest PTA-producing sites in the Americas and Europe, respectively. The investment will enable the two facilities to lower operating costs, improve reliability and reduce emissions. Earlier this year, BP also started up its new Zhuhai 3 unit in Guangdong Province, China. Using BP's latest technology and capable of producing up to 1.25M tons of PTA per year, Zhuhai 3 is the world's largest single-train PTA production unit as well as being one of the largest and most efficient PTA production units in the world. While BP's Decatur complex no longer fits with this strategy, the facility has been a major contributor to BP's U.S. petrochemicals business for many years. It makes chemicals essential for the production of thousands of items, from plastic water bottles to flat-screen televisions. BP expects to complete a sale of all or part of the facility provided a buyer can be found and an acceptable deal can be reached. Reference Link
09:48 EDTBPBP to explore sale of Alabama petrochemical plant, Bloomberg reports
Bloomberg cites e-mailed statement from BP.
November 16, 2015
06:51 EDTBPBig energy firms saw 70% earnings dip for first nine months, WSJ says
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