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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:09 EDTTOT, BP, XOM, STOExxon 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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July 2, 2015
08:55 EDTBPBP reaches settlement deal over GOM spill, Bloomberg says
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08:03 EDTBPBP said to settle Macondo spill claims with states, U.S., Bloomberg reports
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07:14 EDTTOTInterOil and Total's Papua New Guinea LNG project sites selected
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July 1, 2015
18:20 EDTBP, XOMShell CEO says Opec production has pressured shale companies, FT reports
In an interview with the Financial Times, Shell (RDS.A, RDS.B) CEO Ben van Beurden said Opec's decision not to cut production has sent a "powerful signal... to shale oil companies as well as their financiers that they cannot forget the price risk. The industry will remember it for some time." The CEO noted that industry efforts to boost efficiency and cut costs should keep production going for "a while to come... until the sweet spots start running out." Publicly traded companies in the space include Chevron (CVX), Anadarko Petroleum (APC), Exxon Mobil (XOM), BP (BP), Marathon Oil (MRO), BHP Billiton (BHP), ConocoPhillips (COP), Pioneer Natural Resources (PXD), EOG Resources (EOG), Concho (CXO), Whiting Petroleum (WLL), and Continental Resources (CLR). Reference Link
June 30, 2015
11:38 EDTTOTAmyris agrees to restructure fuels joint venture with Total
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June 29, 2015
10:14 EDTBPBP, Anadarko penalty appeals rejected by Supreme Court, Reuters reports
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09:36 EDTBPBP, Anadarko appeals on penalties rejected by Supreme Court, Reuters reports
The companies were rejected on appeals to avoid clean water act penalties related to the Deepwater Horizon spill, Reuters said.
09:35 EDTBPActive equity options trading on open
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June 26, 2015
16:00 EDTXOMOptions Update; June 26, 2015
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14:35 EDTBP, XOMImperial Oil and partners Exxon Mobil, BP delay Arctic drilling, CBC News says
Imperial Oil (IMO) as well as its joint venture partners Exxon Mobil (XOM) and BP (BP) have postponed plans for exploratory drilling in the Beaufort Sea, says CBC News Reference Link
13:48 EDTBPLone Star Value calls on Penn Virginia to launch strategic alternatives review
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06:22 EDTTOTTotal in talks to sell U.K. gas pipeline to ArcLight, Bloomberg reports
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June 25, 2015
14:29 EDTBPPenn Virginia says did not issue press release earlier, no comment on rumors
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13:08 EDTBP, XOMPenn Virginia higher after blog speculates on another deal
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12:07 EDTXOM, BPBP said to make $8/share bid for Penn Virginia, Proactive Investors blog says
BP (BP) has made a $8 per share takeover bid for Penn Virginia (PVA), but the latter rejected the bid and is "holding out" for at least $10 per share, UK investor blog Proactive Investors claimed, citing people familiar with the matter. ExxonMobil (XOM) and Chevron (CVX) may also be interested in buying Penn Virginia, according to Proactive, which identifies itself as a "leading multi-media news organisation, investor portal and events management business." Penn Virginia shares are up 7% in midday trading following the report from the blog, which was previously credited for a report on alleged takeover advances made toward drugmaker Receptos (RCPT). Reference Link
11:58 EDTBPBP said to bid to buy Penn Virginia, Proactive Investors says
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June 24, 2015
18:16 EDTXOMGoogle, GE, Airbus lead in sheer number of meetings with EU officials
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08:40 EDTXOMExxon closes oil production off Santa Barbara after pipe burst, L.A. Times says
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07:19 EDTXOM, TOT, BPU.K. panel to decide on first fracking in area since 2011, WSJ reports
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June 22, 2015
07:34 EDTTOTTullow says it settled capital gains tax dispute with Uganda government
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