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Stock Market & Financial Investment News

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February 13, 2013
08:16 EDTRDS.A, BP, XOM, CVXIEA lowers world oil demand forecast for 2013, Economic Times reports
The International Energy Agency reduced its world oil demand forecast for 2013, based on continuing fragility in the world economy despite recovery signs in China and the U.S., reports the Economic Times. The IEA said the marginal cut of 85,000 barrels a day was in line with the prospect for slower economic growth forecast by the IMF, which cut its world growth estimate for 2013 to 3.5% from 3.6%. The agency's forecast for oil demand is 90.7M barrels per day, with the euro zone and Latin America accounting for much of the revisions. Reference Link
News For A;CVX;BP From The Last 14 Days
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December 11, 2014
05:44 EDTCVXStocks with implied volatility movement; CZR CVX
Stocks with implied volatility movement; Caesar's (CZR) 126, Chevron (CVX) 33 according to iVolatility.
December 10, 2014
16:44 EDTCVXOn The Fly: Closing Wrap
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16:00 EDTCVXOptions Update; December 10, 2014
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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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09:36 EDTCVXActive equity options trading
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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
18:09 EDTCVXChevron FY15 CapEx plan delayed until 2015, Bloomberg says
Due to the recent slump in crude oil, Chevron will delay the release of its 2015 capital expenditure plan until early 2015, Bloomberg reports, citing a telephone interview with a company spokesperson. Reference Link
11:40 EDTBPBP to invest $12B in Egypt over next five years, Reuters reports
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08:39 EDTBPBP to close U.S. cellulosic operations, Bloomberg reports
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December 8, 2014
19:01 EDTCVXChevron subsidiary acquires three blocks offshore New Zealand
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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 EDTCVX, BPClimate 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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December 5, 2014
11:17 EDTCVXPhillips 66 announces 2015 capital budget of $4.6B
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10:44 EDTAOptions with increasing implied volatility
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07:43 EDTBP, CVXLondon bankers see oil slump spurring energy industry consolidation, WSJ reports
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