|Day's Range||0.1000 - 0.1000|
Despite its No. 1 spot on the Houston Business Journal's 2019 Largest Houston-Area Energy Employers List, Irving, Texas-based Exxon Mobil Corp. (NYSE: XOM) has seen a large drop off in global revenue since 2014. The company reported a global revenue of $279.33 billion in 2018, a 32 percent decrease since 2014, when it reported $421.11 billion in global revenue. The company’s lowest reported revenue was in 2016, when it reported $218.61 billion.
Brazil's Senate passed the main text of a bill late on Tuesday defining the distribution of proceeds from a blockbuster auction of oil prospecting rights, a key milestone for the enormous offshore region known as TOR - the 'transfer-of-rights' area. The bidders who win exploration and production rights in the massive Nov. 6 auction will be obliged to pay the government a combined signing bonus of some 106.5 billion reais ($25.8 billion), making it the largest oil bidding round in history, according to Brazilian authorities. The fields are unique as Brazilian state-run oil firm Petroleo Brasileiro SA, better known as Petrobras, has already done significant exploration work in the area.
ConocoPhillips (COP) entered into an agreement to sell some of its portfolio in Australia for $1.39 billion. Meanwhile, downstream major Phillips 66 (PSX) launched a $3 billion new buyback program.
India has ample growth and investment opportunity in the natural gas space. To augment the development, the government of India is going to invest $60B in natural gas infrastructure.
TOTAL (TOT) to gain from the buyout of a stake in Adani Gas, as the move coincides with the government of India's announcement of $60B investment to strengthen gas infrastructure across the nation.
Thus far in its $10 billion divestment program, BP's largest single deal is the $5.6 billion sale of its operations in Alaska to a Houston-based company.
On Friday BP said it will sell four packages of legacy gas assets from its US shale business, without disclosing the buyer or the price. In August, BP said it would sell its Alaskan business to Hilcorp for $5.6bn, ending its 60-year history in the US state.
BP will take charges of $2 to $3 billion in the third quarter, the British energy firm said on Friday, as it looks to reach divestments worth $10 billion by the end of 2019, a year ahead of schedule. In a statement, London-based BP said it expects to agree asset sales of $10 billion by end-year after its $5.6 billion sale of its Alaskan business to Hilcorp and divestments in U.S. shale gas. BP shares were down 1.1% by 0948 GMT compared with a 1.3% gain in the broader European energy index.
BP PLC on Friday said it plans on selling some $10 billion in assets by the end of 2019, a year earlier than it had expected. The major oil company had announced plans to offload assets last year to shrink its debt ratio. The company in a statement on Friday said it has been selling oil assets in Alaska at a faster clip than had been anticipated, with those divestitures expected to result in a non-cash after-tax charge of $2-3 billion in the company's 2019 full-year results. Shares of BP traded in London were down 0.7% on Friday at 5 pounds. U.S.-listed shares of BP were up 0.7% in premarket action at $37.41.
France's Total SA , the big winner in a Brazilian auction of offshore oil concessions on Thursday, said it will not participate in a bigger auction scheduled for Nov. 6 of the so-called Transfer of Rights area in Brazil's pre-salt region. The company's chief executive officer, Patrick Pouyanné, said in a statement that was because the competitive bidding rounds were for non-operating stakes. A consortium led by Total won the exploration and production rights for an offshore block near the pre-salt region on Thursday, agreeing to pay the government a signing bonus of 4 billion reais ($978 million).
Let's see if BP p.l.c. (BP) stock is a good choice for value-oriented investors right now, or if investors subscribing to this methodology should look elsewhere for top picks.
Ten companies on Thursday agreed to pay more than $2 billion for the exploration and production rights in 12 offshore oil blocks in Brazil, in what could be a promising sign for even bigger upcoming oil auctions. The most heavily sought after areas in the Thursday auction directly border Brazil's so-called pre-salt area, a coveted zone in which billions of barrels of oil are trapped under a thick layer of salt beneath the ocean floor. The biggest move came from a France's Total SA, which, in a consortium with Malaysia's Petronas and Qatar Petroleum, dropped 4.029 billion reais for one block abutting the pre-salt area.
Hedge funds run by legendary names like George Soros and David Tepper make billions of dollars a year for themselves and their super-rich accredited investors (you’ve got to have a minimum of $1 million liquid to invest in a hedge fund) by spending enormous resources on analyzing and uncovering data about small-cap stocks that the […]
TOTAL (TOT) announces that it is going to start the construction of 52 MW Miyagi Osato Solar Park. This is likely to further expand its renewable operations in Japan.
By dint of this Pierce project, Royal Dutch Shell (RDS.A) is expected to add shareholder value by opening up supplemental gas reserves for UK households and industries.