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Stock Market & Financial Investment News

News Breaks
January 3, 2013
12:27 EDTBP, RIGTransocean announces $1.4B settlement with Justice Department
Transocean announced that it has reached an agreement with the U.S. Department of Justice to resolve certain outstanding civil and potential criminal claims against the company arising from the 2010 accident involving the Deepwater Horizon in the Gulf of Mexico. As part of this resolution, a Transocean subsidiary has agreed to plead guilty to one misdemeanor violation of the Clean Water Act for negligent discharge of oil into the Gulf of Mexico and pay $1.4B in fines, recoveries and penalties. This resolution will result in the Department of Justice concluding its criminal investigation of Transocean and settling its claims for civil penalties against the company relating to the spill from BP's (BP) Macondo well. The company intends to satisfy its payment obligations over a period of five years, using cash on hand and cash flow from operations. At September 30, Transocean had accrued an estimated loss contingency of $1.5B associated with claims made by the Department of Justice. Any potential claims associated with the Natural Resources Damage Assessment process are excluded from the agreement with the Department of Justice, the company said.
News For RIG;BP From The Last 14 Days
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December 18, 2014
18:11 EDTRIGTransocean to scrap seven floaters, sees Q4 charge of $100M-$140M
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07:47 EDTBPJacobs Engineering selected by BP as strategic supplier
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December 17, 2014
12:51 EDTRIGNY state to ban fracking next year, CNBC reports
Publicly traded companies in the oil services space include Baker Hughes (BHI), Diamond Offshore (DO), Halliburton (HAL), Nabors Industries (NBR), Noble Corp. (NE), Rowan Companies (RDC), Schlumberger (SLB), Transocean (RIG) and Weatherford (WFT).
December 15, 2014
13:00 EDTBPEU conditionally approves BP acquisition of jet fuel unit, Reuters says
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December 14, 2014
17:07 EDTBPOPEC's Badri says group will withstand oil price fall, Reuters says
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December 12, 2014
06:51 EDTBPBrent crude oil fell to five year low, Reuters reports
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December 11, 2014
16:01 EDTRIGOptions Update; December 11, 2014
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December 10, 2014
12:42 EDTBPBP volatility increases as shares trade at 30-month low
BP December and January call option implied volatility is at 31; compared to its 26-week average of 17 according to Track Data, suggesting large price movement.
10:00 EDTBPOn The Fly: Analyst Upgrade Summary
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06:06 EDTBPBP sees $1B in group-wide restructuring charges over coming year
"Although the current environment is challenging, BP is well-positioned to respond and manage our Upstream business for the long term,” said Upstream CEO Lamar McKay. “We expect to see growth from our conventional and deepwater assets and an increasing contribution from gas. And we also have a quality pipeline of opportunities that we believe are capable of extending underlying growth well beyond 2020. Our focus throughout will remain firmly on safe operations, execution efficiency and greater plant reliability.” BP also said that, as part of its wider ongoing Group-wide programme to simplify across its Upstream and Downstream activities and corporate functions, it expects to incur non-operating restructuring charges of circa $1B in total over the next five quarters, including the current quarter. Details of these charges and further guidance on the program are expected to be given with each quarter’s results. Across the Group, BP has said it will be looking to pare or re-phase capital expenditure without compromising safety or future growth. In October, BP told investors this could result in reductions of $1B-$2B in capital expenditure across the Group in 2015 against guidance of $24B-$26B laid out in March. This will be reviewed further as part of the 2015 plan, recognising the current outlook for oil prices. Between now and 2020, the Upstream team’s focus will be on delivery, through safe and reliable operations, strong execution in the existing base business, and the start-up of a suite of new projects which are expected to be capable of adding over 900,000 barrels of oil equivalent a day of net incremental production to BP’s portfolio by 2020. BP will also be progressing opportunities expected to continue to drive underlying growth into the next decade as it builds out its well-established conventional and deepwater oil positions and a distinctive and material portfolio of gas options.
05:53 EDTBPBP upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded BP (BP) to Buy saying shares could see an inflection point in 2015 with the Macondo penalty phase going to trial in January. Deutsche coupled the upgrade of BP with a downgrade of Royal Dutch Shell (RDS.A) to Hold.
December 9, 2014
11:40 EDTBPBP to invest $12B in Egypt over next five years, Reuters reports
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11:24 EDTRIGStocks with call strike movement; RIG GPRO
Transocean (RIG) May 22 call option implied volatility decreased 2% to 63, GoPro (GPRO) April 77.5 call option implied volatility decreased 5% to 58 according to IVolatility.
08:39 EDTBPBP to close U.S. cellulosic operations, Bloomberg reports
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December 8, 2014
11:31 EDTRIGStocks with call strike movement; RIG GPRO
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10:53 EDTBPBP to continue advocating for probe of suspicious, implausible spill claims
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10:11 EDTBPBP's plea to review Deepwater Horizon settlement rejected, WSJ reports
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07:53 EDTBPClimate for Exxon E&P acquisition improved by falling prices, WSJ says
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06:09 EDTBPBP to cut hundreds of U.K. jobs this week, Guardian reports
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December 7, 2014
19:41 EDTBPBP set to reduce middle management ranks, freeze projects, Sunday Times says
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