|Bid||9.02 x 0|
|Ask||9.02 x 0|
|Day's Range||8.89 - 9.25|
|52 Week Range||5.92 - 15.66|
|Beta (5Y Monthly)||1.12|
|PE Ratio (TTM)||8.56|
|Earnings Date||Jul 23, 2020|
|Forward Dividend & Yield||0.93 (10.35%)|
|Ex-Dividend Date||Dec 17, 2019|
|1y Target Est||17.09|
Spanish oil major Repsol sold €1.5bn of bonds with equity-like features on Tuesday, in the latest sign that debt investors are regaining some appetite for riskier instruments. The market for so-called hybrid bonds, which place less of a strain on a company’s balance sheet as they never have to be repaid, faded when the spread of coronavirus damaged demand for debt more exposed to an economic downturn.
Legal & General Investment Management, a British asset manager with a $1 billion stake in Exxon, wants the company to make a more serious commitment to combating climate change.
Shareholder activists prodding Exxon Mobil Corp on climate-change proposals are backing calls for an independent board chairman as the oil major steps up efforts to keep climate proposals off its ballot. New York state's pension fund, Church Commissioners for England, and Legal & General Investment Management, which all battled Exxon over global warming and lobbying disclosures have this year taken up a call to split the chief executive officer and chairman roles, expecting a better reception from an outsider. "The company has been a laggard on financial performance, climate risk management and lobbying disclosure for quite some time now," said Thomas DiNapoli, New York state comptroller and head of the state's biggest pension fund.
By CorpGov Editorial Staff U.S. sanctions against Venezuela have impacted oil trade around the world, with companies from Sweden to Spain that partner with the country under pressure to depart and potentially lose billions of dollars of revenue. But ultimately, it may be the Venezuelan people who are hurt most. Oil production in Venezuela On […]
EUROPE MARKETS European stocks advanced on Tuesday, putting markets on track to end a three-session losing run. Up 17% from the lows of March, the Stoxx Europe 600 (XX:SXXP) rose 1.8%. The gains tracked a reversal on Wall Street on Monday, when early-session losses evaporated and investors bid technology stocks higher.
Venezuela's oilfields produced 687,000 barrels of crude last Saturday, up from 653,000 barrels on Friday but below the 718,000 barrels per day (bpd) the country said it produced in March, according to documents seen by Reuters on Monday. The drop came as output in the country's Orinoco oil belt, home to the world's largest deposits of heavy crude, fell by nearly 100,000 bpd over three weeks to 307,000 bpd on Saturday, two internal documents from state oil company Petroleos de Venezuela showed. A string of wildfires has recently hit storage tanks and pumping stations in the belt, forcing some producing areas to temporarily halt output.
A rally in crude-oil futures sent the European energy sector higher on Tuesday, helping markets recover some lost ground from the rough start to the second quarter.
This week we saw the Repsol, S.A. (BME:REP) share price climb by 19%. But that doesn't change the fact that the...
Spanish oil and gas firm Repsol said on Wednesday it would slash investments by 26% this year to limit the damage caused by sliding oil and gas prices and the coronavirus epidemic. Directors met on Wednesday and decided to cut capital expenditure by more than 1 billion euros ($1.09 billion), and operating expenditure by more than 350 million euros, the company said in a bourse filing. Oil prices have slumped since January as demand collapsed because of the pandemic and as a battle for customers between Saudi Arabia and Russia threatened to flood the market.
Royal Dutch Shell stock, which has fallen by 50% in a month, was yielding 16% on Wednesday. BP had a dividend yield of 14%. Goldman Sachs says the market is too pessimistic.
Venezuela's oil exports rose 9% in February from the previous month, as some buyers rushed to take cargoes ahead of the expiration of a wind-down period as part of new U.S. sanctions on PDVSA and its trade partners, data from the state-run firm and Refinitiv Eikon showed. Washington imposed tough sanctions on PDVSA in 2019 and launched a strategy of "maximum pressure" this year to oust Venezuela's President, Nicolas Maduro, extending sanctions to PDVSA's main trade partner, Rosneft Trading, while making threats on other customers. Prior to sanctions, the United States was the biggest buyer of Venezuela's oil.
Nearly $24 billion worth of shares traded on OTC Markets last month, down about 2% from December. There were a number of significant volume increases in individual securities throughout the month, with ...
Spain's Repsol on Thursday reported a net loss for 2019, sapped by lower oil and gas prices and one-off charges mainly related to its pledge to cut its greenhouse gas emissions. A 2019 net loss of 3.8 billion euros ($4.10 billion), compared with net income of 2.3 billion euros in the previous year, was primarily because of a 4.8 billion euro impairment Repsol booked mainly on production assets in North America because of its climate targets. Adjusted net profit came in at 405 million euros ($437.08 million), missing an analyst estimate of 418 million euros provided by the company.
Repsol SA reported fourth-quarter earnings that missed estimates as a weaker refining and chemicals business and a drop in crude prices had a larger impact than expected.
The list of parties at London's International Petroleum Week, one of the world's biggest oil industry gatherings, continues to shrink as hosts such as ExxonMobil and Azerbaijan's SOCAR cancel events due to the coronavirus outbreak, trading sources said. IP Week is a key annual oil traders' gathering that takes place in February. Oil majors, national oil companies and trading firms host receptions for networking throughout the week, which is scheduled this year for Feb. 24-27.
BP set one of the oil sector's most ambitious targets for curbing carbon emissions on Wednesday as new chief executive Bernard Looney began the biggest revamp in its 111-year history. While investor groups welcomed the 2050 targets set out by Looney, which put BP ahead of rivals Royal Dutch Shell <RDSa.L>, Total <TOTF.PA>, Equinor <EQNR.OL> and all of the U.S. oil majors, environmental campaigners criticized a lack of detail. "We have got to change and change profoundly because the world is changing fast and so are society's expectations of us," Looney said in his first major speech as CEO, after earlier highlighting a need to "reinvent BP".
The U.S. special envoy for Venezuela, Elliott Abrams, said on Friday that the U.S. government talks frequently with Spain and oil major Repsol, which operates in the South American country. "If the conditions, the sanctions, change, we will talk to Repsol," Abrams said in Spanish during a press conference call.
Chevron Corp on Thursday said its operations in international crude marketing through joint ventures in Venezuela are permitted by the U.S. Treasury and pay for expenses related to maintenance of operations. Chevron operates in Venezuela through joint ventures with Petroleos de Venezuela, or PDVSA.
The Trump administration is ramping up pressure against Venezuelan President Nicolas Maduro's government, and energy companies with ties to it, from Russia's Rosneft to U.S.-based Chevron Corp , should "tread cautiously," a senior administration official said on Wednesday. The comments came in response to a question about possible sanctions against Rosneft on a call with reporters ahead of a White House meeting between Venezuelan opposition leader Juan Guaido and U.S. President Donald Trump. "Everything is an option as regards creating pressure, whether it's towards Russian entities that are supporting Maduro or others.
The Trump administration is ramping up pressure against Venezuelan President Nicolas Maduro's government, and energy companies with ties to it, from Russia's Rosneft <ROSN.MM> to U.S.-based Chevron Corp <CVX.N>, should "tread cautiously," a senior administration official said on Wednesday. The comments came in response to a question about possible sanctions against Rosneft on a call with reporters ahead of a White House meeting between Venezuelan opposition leader Juan Guaido and U.S. President Donald Trump.
The Church of England's 2.8 billion pound pension fund has put 600 million pounds ($789 million) into a climate index which includes Royal Dutch Shell and Repsol, but shuns BP, Exxon and Chevron. The Church, which has pressured oil producers to improve their climate targets, based its index on the London School of Economics' Transition Pathway Initiative (TPI) on companies' alignment with the goal to keep global warming below 2 degrees Celsius.