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Stock Market & Financial Investment News

News Breaks
July 8, 2014
05:35 EDTTKPPY, STO, XOMTechnip awarded renewal of framework agreement by Statoil, Exxon Mobil, Gassco
Technip (TKPPY) was awarded a new framework agreement by Statoil (STO), Exxon Mobil (XOM) and Gassco for diving, subsea intervention and repair contingency services. Under the terms of this framework agreement, a replacement of an existing frame agreement held for eight years, Technip will provide these services for the next four years. This contract, effective from December 1, also includes an option for additional periods up to seven years.
News For TKPPY;STO;XOM From The Last 14 Days
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September 19, 2014
13:44 EDTXOMSources say Exxon Mobil's Torrance, CA, refinery up for sale, Reuters reports
According to sources, Exxon Mobil's 15,000 barrel per day Torrance, California, refinery is up for sale, Reuters reports. One source notes that the refinery "has been looked at extensively." An Exxon spokesman says the company is committed to conducting business in California and would not comment on a potential sale. Reference Link
11:52 EDTXOMExxon Mobil releases staement on Treasury Department sanctions on Russia
ExxonMobil announced that it is complying with all U.S. sanctions. The company said, "The U.S. Treasury Department, recognizing the complexity of the University-1 well and the sensitive Kara Sea arctic environment, has granted a license to ExxonMobil and other U.S. contractors and persons involved to enable the safe and responsible winding down of operations related to this exploration well. The license recognizes the need to protect the safety of the individuals involved in these operations as well as the risk to the environment. All activities related to the wind down will proceed as safely and expeditiously as possible."
September 18, 2014
18:21 EDTXOMExxon Mobil suspends Arctic oil drilling due to sanctions, Bloomberg reports
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17:08 EDTXOMExxon Mobil continues to increase Wolfcamp Position in Permian Basin
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17:04 EDTXOMLINN Energy, LinnCo announce Permian-California trade with Exxon Mobil
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September 16, 2014
10:47 EDTXOMBadri sees OPEC lowering oil output target at next meeting, Reuters says
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07:19 EDTXOMCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
05:29 EDTTKPPYTechnip awarded significant contract for new refinery units by BAPCO
Technip was awarded a significant contract on a reimbursable basis by the Bahrain Petroleum Company, or BAPCO, to develop the Front-End Engineering Design, or FEED, of the refinery located in the Kingdom of Bahrain. The FEED contract covers four main work packages that include units aimed at processing the “bottom of the barrel” components to high value products, and all associated offsites and utilities to provide seamless integration with existing refinery facilities earmarked for retention post this major modernization. The project aims at enhancing the refinery configuration, by increasing the throughput from 267,000-360,000 barrel per day as well as improving the product slate and profitability. Technip’s operating center in Rome, Italy, in cooperation with Technip’s operating center in Abu Dhabi, United Arab Emirates, will execute the contract, scheduled to be completed at the end of 2015.
September 12, 2014
07:28 EDTXOMExxon Mobil at risk from sanctions on Russia, WSJ says
New sanctions enacted by the U.S. and the EU against Russia over the ongoing conflict in Ukraine threaten one of Exxon Mobil's best chances to find and tap significant amounts of crude oil via its partnership with Russia's state-owned oil company OAO Rosneft, said The Wall Street Journal. A U.S. official said the new sanctions would affect Exxon's current drilling in the Kara Sea with Rosneft, though the extent of the impact was unclear, the Journal added. Reference Link
05:26 EDTSTOStatoil exits two assets on NCS for $1.3B
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September 11, 2014
05:20 EDTTKPPYTechnip awarded subsea contract for Kodiak project in Gulf of Mexico
Technip was awarded by Deep Gulf Energy II a lump sum contract for the development of the Kodiak field, located in Mississippi Canyon Blocks 727 and 771, in the Gulf of Mexico, at water depths ranging from 1,472 meters to 1,710 meters. The project consists of a subsea tie-back to the Devils Tower Truss Spar located in Mississippi Canyon Block 773. To withstand Kodiak field’s high temperature and pressure as well as extremely corrosive production fluids, the pipeline will be of a bi-metallic construction, lined with corrosion resistant alloy. This solution effectively addresses the challenges of increasingly demanding operating conditions.
September 10, 2014
09:07 EDTSTOGE, Statoil, Ferus Natural Gas Fuels announce pilot project expansion
A joint venture of GE (GE) and Ferus Natural Gas Fuels,along with Statoil (STO) announced the planned expansion of a pilot project to capture flare gas and use it to power up to six of Statoil’s drill rigs and one frac fleet in North Dakota. The expansion is the first step by Statoil to move into full commercial adoption of the GE and Ferus NGF joint venture’s Last Mile Fueling Solution, which is expected to reduce emissions and provide cost-savings and logistics solutions for the company’s Bakken oilfield operations. The company anticipates this new commercial expansion will increase its flare gas capture to between 3M-5M standard cubic feet per day by the end of 2014, equating to GHG emissions reductions of between 120K and up to 200K metric tons per year, or the equivalent of removing between 25K-45K cars from the road.
08:22 EDTXOMBofA/Merrill oil and gas analysts hold an analyst/industry conference call
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September 9, 2014
05:29 EDTTKPPYTechnip awarded substantial EPIC contract for Juniper project
Technip has been awarded a substantial Engineering, Procurement, Installation, Construction, or EPIC, lump sum contract by BP Trinidad and Tobago for the development of the Juniper project, to be located off the Southeast coast of Trinidad. The scope of work consists of design, detailed engineering, procurement, construction, load out and mechanical completion of: 4,300 short ton topsides that can process 590M standard cubic feet per day of gas, 6,100 short ton jacket. The contract will also cover the design, detailed engineering, procurement, fabrication, transport, installation and pre-commissioning of: 5 off, 10” and 8” internal diameter flexible flowlines, 26” outside diameter , 10km concrete coated rigid subsea pipeline, an extensive diving campaign to support clients LNG train and field turnaround, large number of subsea structures and tie-in spools. Additionally, it includes the transport and installation of client supplied umbilicals, trees and flying leads.
September 8, 2014
14:46 EDTSTODrilling of Statoil well off Norway held up by Greenpeace gripe, Bloomberg says
Drilling of Statoil's first well off Norway in the Barents Sea may be delayed following a complaint from Greenpeace, Bloomberg reports. Drilling can't begin until the Norwegian Environment Agency handles the appeal this week, Bloomberg added, citing an e-mail from Reidar Evensen, a spokesman for the agency. Greenpeace says the arctic well being pursued by Statoil is an oil-spill hazard and that "the field is too close to vulnerable resources such as Bear Island and the the ice edge." Reference Link

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