Major Integrated Oil & Gas Players Focus on Expansion, Strategic Divestiture, Resolution, and New Discoveries - Research Report on ExxonMobil, BP, Total, Statoil, and Ecopetrol
June 10, 2013 at 08:00 AM EDT
NEW YORK, June 10, 2013 /PRNewswire/ --
Today, Wall Street Reports announced new research reports highlighting ExxonMobil Corporation (NYSE: XOM), BP plc (NYSE: BP), Total SA (NYSE: TOT), Statoil ASA (NYSE: STO), and Ecopetrol SA (NYSE: EC). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below.
ExxonMobil Corporation Research Report
On May 30, 2013, ExxonMobil Corporation (ExxonMobil) announced that its Singapore Chemical Plant is now producing ethylene from the facility's second world-scale steam cracker. ExxonMobil's chemical plant expansion is integrated with its existing petrochemical plant. The Company expects to increase its production at its three polyethylene plants, two polypropylene plants, a specialty metallocene elastomers unit and the expanded oxo-alcohol and aromatics units at the petrochemical complex over the next few weeks. Matthew Aguiar, Chairman and Managing Director of ExxonMobil Asia Pacific Pte Ltd, said "This expansion gives ExxonMobil unparalleled feedstock flexibility in the industry and positions the Singapore petrochemical complex well to serve growth markets from China to the Indian sub-continent and beyond. We are committed to meeting the regional demand for petrochemical products and to contributing to Singapore's growth." The Full Research Report on ExxonMobil Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/3cc2_XOM]
BP plc Research Report
On June 3, 2013, BP plc (BP) announced that is has successfully completed the sale of its Carson, California refinery and related regional logistics and marketing assets to Tesoro Corporation for approximately $2.4 billion. The Company stated that the divestiture was a part of the Company's plan to reshape its fuels business in the US. Iain Conn, Chief Executive of BP's Global Refining and Marketing Business, said, "With the completion of this divestment the strategic refocusing of our U.S. fuels portfolio is essentially complete. BP's U.S. fuels business is now anchored around three, highly sophisticated northern refineries, which are crude feedstock-advantaged, and tied to strong marketing businesses." The Full Research Report on BP plc - including full detailed breakdown, analyst ratings and price targets - is available to download BP plc free of charge at:
Total SA Research Report
On May 29, 2013, Total SA (Total) announced that it has reached final agreements with the US Department of Justice (DOJ) and the US Securities and Exchange Commission (SEC) for the resolution of an investigation initiated in 2003, concerning petroleum contracts awarded in Iran in the 1990s. The settlement with the SEC requires Total to pay $153 million and to agree to take steps to avoid any violation. The DOJ agreed not to prosecute Total, and in return, requires Total to pay $245.2 million and to maintain and reinforce its ongoing compliance program. Patrick de La Chevardière, CFO of Total, said, "These settlements, the outcome of which are customary in the United States, allow us to put an end to this investigation. We look forward to continuing our work and in demonstrating our strong commitment to ensuring ethical and legal compliance with the laws around the world." The Full Research Report on Total SA - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/5507_TOT]
Statoil ASA Research Report
On May 28, 2013, Statoil ASA (Statoil) announced that the Company, along with its partners, has made a new oil discovery in the vicinity of Grane field in the North Sea. Statoil reported that the well was Drilled by the rig Songa Trym and proved an oil column of 20 metres in the Heimdal formation. According to the Company, the estimated volume of oil discovery is in the range of 18 to 33 million barrels of recoverable oil. Tore Loseth, Vice President for Exploration in the North Sea, said, "We are pleased with having proven new very high value resources in the Grane area. The oil discovery is located directly north of the Grane field and can be developed effectively." The Full Research Report on Statoil ASA - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/d49c_STO]
Ecopetrol SA Research Report
On May 27, 2013, Ecopetrol SA (Ecopetrol) announced that it has proven the presence of hydrocarbons at the Cusuco 1, an exploratory well located within the municipality of San Carlos de Guaroa, Meta Province, Columbia. This is the third finding of Ecopetrol in 2013. Initial tests carried out on the Cusuco 1 well, using an artificial lift system, yielded an average crude oil production of 140 barrels of oil per day (BOD). The Company also announced that it will conduct extensive testing in the area over the following weeks. The Full Research Report on Ecopetrol SA - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.WSReports.com/r/full_research_report/696f_EC]
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SOURCE Wall Street Reports