Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Energy News: Chevron's Reputation as a Major Polluter Grows


Plus, what's next for Chesapeake and natural gas?

This column highlights the most interesting and useful business and financial commentary on energy from around the Web.

Link: BP Agrees Terms for Sale of TNK-BP to Rosneft
"BP (NYSE:BP) confirmed Monday in a statement to the London Stock Exchange that it has agreed 'heads of terms' to sell its 50-percent stake in Russian subsidiary TNK (MCX:TNBP)-BP to Rosneft (PINK:RNFTF) for $28 billion. The announcement came after BP stated earlier Monday that it was "in advanced discussions" with the Russian state oil company.

"The payment - a mixture of $17.1 billion cash and shares representing 12.84 percent of Rosneft - is in line with what oil sector analysts were expecting. BP said that it intends to use $4.8 billion of the cash payment to purchase a further 5.66 percent of Rosneft from the Russian government."

The New York Times
Link: After the Boom in Natural Gas
"The crew of workers fought off the blistering Louisiana sun, jerking their wrenches to tighten the fat hoses that would connect their cement trucks to the Chesapeake Energy (NYSE:CHK) drill rig - one of the last two rigs the company is still using to drill for natural gas here in the Haynesville Shale.

"At its peak, Chesapeake ran 38 rigs in the region. All told, it has sunk more than 1,200 wells into the Haynesville, a gas-rich vein of dense rock that straddles Louisiana and Texas. Fed by a gold-rush mentality and easy money from Wall Street, Chesapeake and its competitors have done the same in other shale fields from Oklahoma to Pennsylvania."

24/7 Wall Street
Link: Chevron's Reputation as a Major Polluter Grows
"Chevron Corp.'s (NYSE:CVX) reputation as a major polluter recently has grown rapidly, and [it's] not just fines of more than $19 billion to Ecuador for environmental damage in the Amazon region. The US Supreme Court blocked Chevron's attempt to halt enforcement of the judgment. In the meantime, while Chevron has tried to promote itself as a progressive provider of new energy technologies, the list of troubles involving its facilities has grown."

Seeking Alpha
Link: Exxon Mobil Millionaires: The Benefits of Long-Term Dividend Stock Investing
"Exxon Mobil Corporation (NYSE: XOM) has been a stalwart of the S&P 500 (INDEXSP:.INX), providing consistent dividend growth. For the last decade, on most measures, it has been one the largest most valuable companies in the world. XOM has provided its employees and stock investors a fantastic wealth creation machine. However, with a forward yield around 2.6%, much of the value should come from stock appreciation."

Wall St. Cheat Sheet
Link: Peabody Energy Earnings Call Insights: Coal Production Trends, Seaborne Thermal Market
"On Monday, Peabody Energy Corporation (NYSE:BTU) reported its third quarter earnings and discussed the following topics in its earnings conference call. Take a look."
< Previous
  • 1
Next >
No positions in stocks mentioned.
Featured Videos