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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:09 EDTXOM, TOT, STO, BPExxon Mobil oil production to increase from on-time startup of CLOV project
Exxon Mobil Corporation (XOM) announced the CLOV project in Angola started up on schedule and is expected to reach daily production capacity of 160,000 barrels in the coming months. CLOV is the fourth major development hub of Total-operated Block 17, after Girassol, Dalia and Pazflor. An ExxonMobil affiliate has a 20 percent working interest in CLOV, which will produce oil from the four fields of Cravo, Lirio, Orquidea and Violeta at water depths ranging from 3,600 feet to 4,593 feet. CLOV, located 87 miles offshore Luanda, includes 34 wells and eight manifolds connected by 112 miles of subsea pipelines to a floating production storage and offloading vessel and crude oil offloading terminal. The 1,000-foot-long, 197-foot-wide vessel can store up to 1.8 million barrels of oil. Natural gas produced at CLOV will be exported through a subsea pipeline to an Angola liquefied natural gas plant in Soyo. Sonangol is the concessionaire for Block 17. Total (TOT) has 40% interest, Statoil (STO) has 23.33%, and BP (BP) has 16.67%.
News For XOM;TOT;STO;BP From The Last 14 Days
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October 28, 2014
06:06 EDTBPBP oil spill left 'bathtub ring' on Gulf of Mexico floor, AP reports
New research shows that the BP oil spill in April 2010 left an oily "bathtub ring" on the sea floor that is nearly the size of Rhode Island, the Associated Press reports, citing a study by UC Santa Barbara’s David Valentine, the chief scientist on the federal damage assessment research ships. The study estimates that around 10M gallons of oil congealed on the Gulf of Mexico's floor around the damaged Deepwater Horizons oil rig. Reference Link
05:46 EDTBPBP raises quarterly dividend 5.3% to 10c
BP announced a quarterly dividend of 10c per ordinary share, a 5.3% year-on-year increase. It is expected to be paid in December. BP said it has continued its program of share buybacks and that $10B has now been used to buy back shares for cancellation since March 2013. Divestments with a cumulative value of $4B have now been agreed towards a total of $10B expected by the end of 2015.
05:44 EDTBPBP reports Q3 EPS 99c, consensus 91c
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05:36 EDTBPCGG SA, BP announce R&D agreement
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October 26, 2014
17:07 EDTXOM, TOT, BPVenezuela decides against Citgo sale, WSJ says
Venezuela has decided against selling its U.S. refining unit Citgo, says the Wall street Journal. Earlier this year Venezuelan officials indicated that they were looking to sell Citgo for as much as $10B, added the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
October 24, 2014
07:23 EDTBPHalliburton feels BP spill trial proposal should be declined, Bloomberg says
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06:22 EDTSTO, BPStatoil secures new Australian exploration permit
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October 23, 2014
11:41 EDTBPBP downgraded to Hold from Buy at Societe Generale
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09:15 EDTSTOKBR awarded Statoil global MSA
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09:01 EDTBPChevron announces oil discovery in deepwater U.S. Gulf of Mexico
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05:53 EDTBPBP, GDF Suez discover new Central North Sea field
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October 22, 2014
07:34 EDTXOMFoster Wheeler unit awarded EPC contract for Exxon Mobil Antwerp refinery
Foster Wheeler (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been awarded an engineering, procurement, and constructioncontract by ExxonMobil (XOM) Petroleum & Chemical BVBA for the Antwerp Northwest Europe Resid Upgrade Project, Revamp and Offsites facilities at the Esso Antwerp Refinery at Antwerp, Belgium. Foster Wheeler's contract value was not disclosed. A small initial release of work was included in the company’s Q1 bookings. The full release of work was included in the company's Q2 bookings. Foster Wheeler’s scope of work is expected to be completed in December 2016.
07:24 EDTTOTTotal names Pouyanne CEO, Desmarest chairman
Total announced that following the recommendations of the Governance & Ethics Committee, its board made two unanimous decisions. It named Thierry Desmarest Chairman of the Board of Directors. Desmarest is currently a member of the Board and Honorary Chairman of the Board. It named Patrick Pouyanne CEO and President of the Executive Committee. Until today, he was President of Refining & Chemicals and a member of the Executive Committee. Thierry Desmarest’s role as Chairman will conclude at the end of 2015 in accordance with the age limits stipulated in the group’s bylaws. The positions of Chairman and CEO will then be recombined. Total's former CEO Christophe de Margerie died tragically in an airplane accident in Moscow on the night of October 20-21.
October 21, 2014
19:02 EDTTOTTotal to select new CEO at emergency board meeting Wednesday morning, WSJ says
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06:32 EDTTOTParis lawyers begin investigating death of Total head, Reuters says
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06:28 EDTTOTWatchdog says Total plane crashed due to 'bad visibility,' Reuters says
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06:25 EDTTOTInvestigators say plough driver in Total crash was inebriated, Reuters says
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05:42 EDTTOTTotal confirms death of CEO Christophe de Margerie
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October 20, 2014
19:55 EDTTOTTotal CEO Christophe de Margerie dies in plane crash, Bloomberg says
Total CEO Christophe de Margerie died in a plane crash in Moscow, according to Bloomberg, citing Interfax. Reference Link
18:52 EDTTOTTotal CEO Christophe de Margerie dies in plane crash, Bloomberg says
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