Major Integrated Oil & Gas
(XOM) The World’s Newest (and Hottest) Emerging Market
What defines an “emerging” market? One of the most useful definitions comes from the fine folks at Wikipedia: “[An emerging market] signifies a business phenomenon that is not fully described by or constrained to geography or economic strength.” Most investors are familiar with the...21Apr2013 | InvestmentU | Comments Off | Continued
(XOM) Exxon Mobil Faces $236 Million Fine
Exxon Mobil Corp (XOM) was directed by a jury ruling to pay $236 million to New Hampshire to clean groundwater contamination caused by the gasoline additive Methyl Tertiary Butyl Ether (MTBE). Exxon Mobil added MTBE to gasoline to...18Apr2013 | vitalstocks | Comments Off | Continued
(XOM) ExxonMobil to Drill Liberia Block 13
Oil giant ExxonMobil Corporation’s (XOM) Liberian affiliate has finally completed the acquisition of an 80% interest in Liberia Block 13 (LB-13) from Canadian Overseas Petroleum (Bermuda) Ltd. (COPL). Liberia Block 13 is 18 miles...18Apr2013 | vitalstocks | Comments Off | Continued
(COP) ConocoPhillips Joins Alaskan Exodus
ConocoPhillips (COP) has suspended its plans to drill in Alaskan Arctic waters in 2014 because of doldrums over federal regulatory and permitting standards. Earlier in Mar, Royal Dutch Shell PLC (RDS.A)...12Apr2013 | vitalstocks | Comments Off | Continued
(E) Eni SpA in $4.21 Billion Deal with China National Petroleum Corporation
Italian energy giant Eni SpA (E) has inked a $4.21 billion deal with China National Petroleum Corporation (CNPC) for divesting a stake of about 20% in Area 4, offshore Mozambique. CNPC farmed into the prospect by purchasing 28.57%...24Mar2013 | vitalstocks | Comments Off | Continued
(XOM) ExxonMobil Joins PetroChina in Iraqi West Qurna Oilfield Venture
China’s largest oil and gas producer – PetroChina – is interested in joining Texas-based ExxonMobil Corporation (XOM), for the development of West Qurna oilfield in southern Iraq. Both parties are yet to finalize on the size...5Mar2013 | Shawn | Comments Off | Continued
(CVX) Chevron Conducts Test at St. Malo PS003 Well in The Gulf of Mexico
U.S. oil major Chevron Corporation (CVX) announced that it carried out a production test at St. Malo PS003 well located in the deepwater Gulf of Mexico. The attempt was successful, with oil flow rate reported to be over 13,000 barrels...5Mar2013 | Shawn | Comments Off | Continued
(TOT) SunPower Renews GRID Partnership
SunPower Corporation (SPWR), a Silicon Valley-based manufacturer of high efficiency solar cells, solar panels and solar systems announced that it is renewing its supplier partnership with GRID Alternatives. GRID Alternatives...24Feb2013 | Shawn | Comments Off | Continued
(COP) Phillips 66 Raises Dividend (revised)
Oil refiner Phillips 66 (PSX) has increased its quarterly common stock dividend by 25% to 31.25 cents per share. The new dividend will be paid on Mar 1, 2013 to shareholders of record as of Feb 21, 2013 (please note: this date was...19Feb2013 | Shawn | Comments Off | Continued
(E) Eni SpA Algerian Project Yields Gas
Italian energy major Eni SpA (E) and its partner, the Algerian state company Sonatrach, have commenced gas production from its Menzel Ledjmet East (MLE) field in Algeria. The cost for the development of the MLE project, including the...18Feb2013 | Shawn | Comments Off | Continued
(BP) BP Gets Shah Deniz Extension Nod
BP Plc (BP) received an additional 5-year extension (2031 to 2036) from Azerbaijan related to the Shah Deniz gas project. The extension follows the company’s deferment of the start date for phase 2 of the project. The British...31Jan2013 | Shawn | Comments Off | Continued
(CVX) Oil & Gas Stock Outlook – January 2013 – Industry Outlook
OUTLOOK Crude Oil High U.S. crude and fuel stocks, worries about North America and Europe’s growth outlook, a strong dollar and an impending fight over raising the U.S. debt ceiling have weakened oil prices to around low-$90s a barrel. Partly offsetting this unfavorable...18Jan2013 | Shawn | Comments Off | Continued
(XOM) U.S. Refined Product Supplies Soar
The U.S. Energy Department’s weekly inventory release showed that crude stockpiles logged an increase, as imports climbed and refinery demand weakened. The report further revealed that refined product inventories – gasoline and distillate – soared from their previous week levels on weakening...15Jan2013 | Shawn | Comments Off | Continued
(CVX) Chevron Crude Unit to be Back in February
U.S. energy behemoth Chevron Corporation (CVX) is almost through with repair work at its Richmond, California, refinery crude unit, according to people familiar with the situation. The integrated major could bring the facility online...15Jan2013 | Shawn | Comments Off | Continued
(BP) BP Plc Starts Skarv Production
BP Plc (BP) has successfully commenced production from the Skarv field in the Norwegian Sea. The oil giant had a key operational objective of bringing the field — one of its core higher-margin areas –– into production by the end...10Jan2013 | Shawn | Comments Off | Continued
(CVX) Chevron, Brazil Nearing Settlement?
U.S. energy behemoth Chevron Corporation (CVX) is willing to shell out $150 million to resolve two civil lawsuits in Brazil associated with an oil leak 74 miles off the coast of Rio de Janeiro in November 2011. The civil suits –...24Dec2012 | Shawn | Comments Off | Continued
(XOM) Exxon Chooses Technip for Balder
U.S. supermajor ExxonMobil Corporation (XOM) has selected France’s Technip for its Balder Phase III development in the Norwegian North Sea. Per the contract, Technip will be accountable for the installation, tie-in and pressure...21Dec2012 | Shawn | Comments Off | Continued
(BP) Oil and Gas Drillers are HOT!
In focus this week; oil and gas drillers are hot, extra yield with less risk and tax sitfa. Barrons’ reported that since the BP (NYSE: BP) oil spill in the Gulf, deep water drilling worldwide has exceeded pre-disaster...5Dec2012 | InvestmentU | 0 comments | Continued
(XOM) U.S. Crude Oil Drilling Production at 18-Yr High
The U.S. Energy Department’s weekly inventory release showed that crude stockpiles increased, as production climbed to its highest level in 18 years. The report further revealed that refined product inventories – gasoline and distillate – decreased from their previous week levels, as demand...3Dec2012 | vitalstocks | Comments Off | Continued
(RDSA) Light Up Your Portfolio With These Plays on Medical Marijuana
In focus this week; natural gas is getting bigger quietly, pot is becoming a big business and the sitfa Last week the CEO of Royal Dutch Shell (NYSE: RDSA) was all about natural gas. Peter Voser said in a meeting...3Dec2012 | InvestmentU | 0 comments | Continued
(CVX) What Albert Einstein Would Invest in Today
Albert Einstein wasn’t famous as an investor. He was a genius who revolutionized theoretical physics. But if he were alive today, it’s pretty clear what he would be doing with his money. And you should be doing it, too. Let me explain… It’s a truism that when times are good,...3Dec2012 | InvestmentU | 0 comments | Continued
(XOM) U.S. Crude Oil and Fuel Supplies Fall
The U.S. Energy Department’s weekly inventory release showed that crude stockpiles logged a surprise decline, as imports fell. The report further revealed that refined product inventories – gasoline and distillate – decreased from their previous week levels. Meanwhile, refiners scaled up...27Nov2012 | vitalstocks | Comments Off | Continued
(PTR) PetroChina Company – ADS – Bear of the Day
Following PetroChina Co. Ltd.’s (PTR) dismal third quarter showing, we are downgrading the Chinese energy giant to Underperform from Neutral. The Beijing-based integrated outfit recently posted weak quarterly results on the back...12Nov2012 | vitalstocks | Comments Off | Continued
(XOM) U.S. Refined Petroleum Products Inventory Increased
The U.S. Energy Department’s weekly inventory release showed that crude stockpiles increased, as production climbed. The report further revealed that refined product inventories – gasoline and distillate – increased from their previous week levels. In particular, gasoline supplies in the...9Nov2012 | vitalstocks | Comments Off | Continued
(BP) BP’s Target in Azerbaijan Way Short
The U.K. major BP Plc (BP) seems to have another battle ahead with the development of the oilfield block Azeri-Chirag-Gunashli (ACG) in the Azerbaijani sector of the Caspian Sea. The woes at BP seem unending with the British...23Oct2012 | vitalstocks | Comments Off | Continued
(BP) BP to Offload Texas City Refinery
The U.K. energy giant BP Plc (BP) plans to offload its Texas City refinery as well as other properties to Ohio-based Marathon Petroleum Corp. (MPC). This move is integral...16Oct2012 | vitalstocks | Comments Off | Continued
(BP) BP to Shed PTA Plant to Reliance
BP Plc (BP) entered into a deal with India’s Reliance Global Holdings Pte. Ltd. to sell its purified terephthalic acid (PTA) production plant in Malaysia. This all-in-cash deal is worth $230 million and is expected to be completed...9Oct2012 | vitalstocks | Comments Off | Continued
(XOM) ExxonMobil Eyes Dunquin Field in Ireland
Energy giant ExxonMobil Corporation (XOM) announced its plan to spud the massive Dunquin gas/condensate prospect by early 2013. Lying to the west of Ireland – Dunquin prospect – will be drilled by semisubmersible rig –...9Oct2012 | vitalstocks | Comments Off | Continued
(CVX) Chevron Fined $17.3 Million for Oil Spill
Energy major, Chevron Corp. (CVX) paid a fine of approximately $17.3 million (35.1 million real) for a major oil spill off Rio de Janeiro state last November. The fine was levied by Brazil’s National Petroleum Agency (ANP). Chevron...1Oct2012 | vitalstocks | Comments Off | Continued
(XOM) U.S. Crude Oil Stocks Fall Unexpectedly
The U.S. Energy Department’s weekly inventory release showed that crude stockpiles dropped unexpectedly, as imports fell. The report further revealed that refined product inventories – gasoline and distillate – dropped from their week-ago levels, as demand strengthened. Meanwhile, refiners...28Sep2012 | vitalstocks | Comments Off | Continued