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Stock Market & Financial Investment News

News Breaks
June 25, 2014
08:50 EDTVLO, PSX, TSO, PXD, EPD, WNR, HFC, MRORefiners slip after U.S. widens oil export potential
Shares of Pioneer Natural Resources (PXD) are rising in early trading after the U.S. reportedly gave Pioneer and Enterprise Products Partners (EPD) permission to ship a type of light oil known as condensate to foreign buyers. Meanwhile, shares of refiners are trading lower following the news. WHAT'S NEW: The U.S. Department of Commerce's Bureau of Industry and Security told Pioneer Natural that putting condensate through a stabilizer was sufficient processing to qualify it to be eligible for export without a license, according to Reuters, citing a statement from the company. The Wall Street Journal also reported that the Department of Commerce had given approval via a private ruling to Pioneer and Enterprise Product Partners to export condensate. WHAT'S NOTABLE: Refiners may see their profits drop if they are forced to pay higher prices to compete with international buyers for U.S. crude. “We don’t think the current system needs to be changed,” a spokesman for Valero Energy (VLO), Bill Day, told Bloomberg. Other publicly traded refining companies include HollyFrontier (HFC), Marathon Oil (MRO), Phillips 66 (PSX), Tesoro (TSO), and Western Refining (WNR). PRICE ACTION: In pre-market trading Pioneer Natural Resources was up 2% to $226.50, while Enterprise Products Partners was up 1.7% to $77.40. Shares of several refiners' stocks were indicated to open lower, with Valero down over 4% in pre-market trading, Phillips 66 down 2.8% and Tesoro down 2.5%.
News For VLO;PSX;TSO;PXD;EPD;WNR;HFC;MRO From The Last 14 Days
Check below for free stories on VLO;PSX;TSO;PXD;EPD;WNR;HFC;MRO the last two weeks.
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August 19, 2014
17:32 EDTTSOTesoro-Savage project deadline extended to March 2, 2015, Bloomberg says
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09:38 EDTVLOActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD TSLA CELG VLO VZ FB HD
August 14, 2014
17:16 EDTPXDPaulson & Co gives quarterly update on stakes
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16:54 EDTPSXBerkshire Hathaway gives quarterly update on stakes
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08:17 EDTTSOTesoro CFO Spendlove to leave company, names Sterin successor
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06:24 EDTMROLibya to restart exports from Es Sider oil port, WSJ reports
Libya will resume exports from Es Sider, its largest oil port, next week following a one-year disruption, sources tell the Wall Street Journal. Es Sider's preliminary loading plans involve six 60,000 barrel tankers drawing on oil stored at the terminal, split between state-owned National Oil Co, Hess (HES), ConocoPhillips (COP) and Marathon Oil (MRO). Reference Link
August 11, 2014
17:41 EDTWNRWestern Refining awarded $141.58M government contract
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17:35 EDTVLOValero Marketing and Supply awarded $491.7M government contract
Valero Marketing and Supply Company, San Antonio, Texas, has been awarded a maximum $491.7M fixed-price with economic-price-adjustment, indefinite-delivery/indefinite-quantity contract for aviation turbine fuel and naval fuel. This contract was a competitive acquisition with 16 offers received. This is a one-year base contract with a 30-day carry-over period and no option periods. Locations of performance are Texas and California, with a Sept. 30, 2015 performance completion date. The contracting activity is the Defense Logistics Agency Energy, Fort Belvoir, Virginia.
08:37 EDTMROMarathon Oil signs exploration, production sharing contract for Gabon Block G13
Marathon Oil, through its wholly owned subsidiary Marathon Oil Exploration, announced it has signed an exploration and production sharing contract, or EPSC, for Gabon offshore Block G13, which was named Tchicuate upon signing, located in the deepwater, pre-salt play. The company was the high-bidder on the block in Gabon's licensing round in October 2013. The Tchicuate Block encompasses 275,000 acres with water depths ranging from approximately 3,250 to 8,250 feet. It is located approximately 50 miles offshore the coast of Gabon and near proven shallow-water, pre-salt oil discoveries. Marathon Oil holds a 100% participating interest and operatorship in the block. In the event of development, the Republic of Gabon will assume a 20% financed interest in the contract upon commencement of production. The State holds additional rights to participate in the block in the future as a co-investor. Marathon Oil also holds a 21.25% working interest in the non-operated Diaba License G4-223, encompassing 2.2M gross acres, where the Diaman-1B discovery was made in 2013.

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