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Stock Market & Financial Investment News

News Breaks
February 1, 2013
11:48 EDTBP, MPCMarathon Petroleum announces purchase of BP's Texas City refinery
Marathon Petroleum (MPC) announced that it has closed the transaction with BP (BP) to purchase several assets, including a 451,000 barrel per calendar day refinery located in Texas City, Texas. Additionally, the transaction includes a 1,040 megawatt cogeneration facility, four light product terminals located in the Southeast, retail marketing contract assignments for approximately 1,200 branded sites representing approximately 61,000 barrels per day of gasoline sales, three operating intrastate natural gas liquids pipelines originating at the refinery and a 50,000 bpd allocation of BP's Colonial Pipeline Company shipper history. The transaction was initially announced on Oct. 8, 2012. The base purchase price is approximately $598M, plus inventories valued at approximately $1.1B. The agreement also contains an earnout provision under which MPC could pay up to an additional $700M over six years, subject to certain conditions. The transaction is expected to be accretive to earnings in the first year of operation.
News For MPC;BP From The Last 14 Days
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July 31, 2015
08:43 EDTMPCMarathon Petroleum weakness creates attractive entry point, says RBC Capital
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July 30, 2015
10:00 EDTBPOn The Fly: Analyst Upgrade Summary
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09:25 EDTMPCOn The Fly: Pre-market Movers
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08:16 EDTBPBP upgraded to Buy from Hold at Argus
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07:22 EDTMPCMarathon Petroleum reports Q2 EPS $1.51, consensus $1.76
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July 29, 2015
13:04 EDTBPSaudi Arabia to lower oil production after summer, WSJ reports
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12:08 EDTMPCMarathon Petroleum board increases dividend 28% to 32c per share
Marathon Petroleum announced that its board of directors declared a dividend of 32c per share on common stock, a 28% increase from the 25c per-share dividend in the first quarter of 2015, after adjusting to reflect the two-for-one stock split that occurred during the second quarter. The dividend is payable September 10 to shareholders of record as of the close of business August 19.
July 28, 2015
09:18 EDTBPOn The Fly: Pre-market Movers
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05:57 EDTBPBP sees Q3 production to be broadly flat with Q2
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05:57 EDTBPBP reports Q2 production up 0.3% to 2,112 mboe/d
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05:56 EDTBPBP reports Q2 profit ($5.82B) vs. $3.37B last year
Reports Q2 replacement cost profit ($6.27B) vs. $3.18B last year. Reports Q2 underlying replacement cost benefit $1.31B vs. $3.64B last year. Reports Q2 underlying replacement cost profit per ordinary share of $7.17 vs. $19.71 last year. Reports Q2 replacement cost per ADS 43c vs. $1.18 last year.
July 27, 2015
15:03 EDTBPNotable companies reporting before tomorrow's open
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July 22, 2015
06:39 EDTBPEuro, U.S. oil and gas groups to find tough competition in Iran, WSJ says
European and U.S. oil and gas firms drawn to Iran as sanctions lessen can expect not only opportunities, but also Iranian companies offering tough competition or joint ventures, the Wall Street Journal reports. Though no Iran-based companies have the clout of firms such as Exxon Mobil (XOM) or Schlumberger (SLB), companies that can take on engineering tasks are emerging and growing in Iran, the report says. If the Iran nuclear agreement comes into effect and sanctions are lifted against Iran sometime soon, those Iranian companies will be well positioned to compete for tens of billions of dollars worth of service contracts, the report adds. Other publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
06:27 EDTBPBP faces challenges in India, Russia, WSJ reports
BP's oil and gas fields project in India with Reliance Industries, the company's first major project since the Deepwater Horizon spill in 2010, has been stalled, posing global challenges for the oil giant, the Wall Street Journal reports. In addition, political hurdles in Russia and cost-ineffective shale operations in the U.S. have also hurt BP, the report says. Reference Link
July 20, 2015
07:11 EDTMPCMPLX, MarkWest Energy provide supplimental information about merger
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