- President-elect Donald J. Trump has appointed E. Scott Pruitt, Oklahoma’s attorney general, as the next US Environmental Protection Agency administrator. He was one of 27 states’ AGs who sued in federal court earlier in 2016 to overturn the Obama administration’s Clean Power Plan.
- Italy’s Saras SPA, which operates a 300,000-b/d, high-conversion refinery in Sarroch, on the southwestern coast of Sardinia, has temporarily shuttered one of two units at the refinery’s catalytic reforming (CCR) plant following an operational upset in early December.
- BP North Sea reported it will begin drilling on a potential carboniferous natural gas play on Block 43/26a in the southern North Sea that, if successful, “could open up a new phase of development in the region.”
- The UK government is offering 14 offshore blocks for licensing in a supplementary round following the closing last month of its 29th licensing round.
- The worldwide average of active rigs in November increased by 58 to 1,678 units, reflecting an ongoing drilling rebound in the US and Canada, according to data from Baker Hughes Inc. The latest tally is down 369 year-over-year.
- US Sen. Maria E. Cantwell (D-Wash.) expressed concern over a possible crude-oil spill in waters between her state and British Columbia after Canada’s federal government approved Kinder Morgan Canada’s proposed pipeline from Alberta to Burnaby, BC, near Vancouver.
- Royal Dutch Shell PLC confirmed it has signed a memorandum of understanding with state-owned National Iranian Oil Co. “to further explore areas of potential cooperation” but Shell declined to discuss likely fields or possible investment levels.
- Gulfport Energy Corp., Oklahoma City, signed a definitive agreement with an unnamed third party to acquire 12,600 net undeveloped acres in northern Monroe County, Ohio, for $87 million.
- Petroleos de Venezuela SA (PDVSA) reported signing two agreements with Shell Venezuela at Miraflores Palace in Caracas.
- US commercial crude oil inventories, excluding those in the Strategic Petroleum Reserve, fell 2.4 million bbl during the week ended Dec. 2 compared with the previous week’s total, according to the US Energy Information Administration’s Petroleum Status Report.
- Devon Energy Corp., Oklahoma City, reported that it increased its risked drilling inventory in the Delaware basin following a successful Leonard shale stacked spacing test in southeast New Mexico.
- Energean Oil & Gas, Athens, has received Israeli government approval to acquire 100% interests in offshore Karish and Tanin natural gas fields and expects to start production in 2020.
- The US light, sweet crude oil futures contract for January delivery dropped 86Â¢ to settle below $51/bbl in New York while the Brent crude oil price for February dropped about $1 to settle below $54/bbl on the London market on Dec. 6.
- The US Department of Energy has approved Magnolia LNG LLC’s application to export LNG to countries that do not have a free-trade agreement with the US, DOE’s Fossil Energy Office said in a Dec. 6 Federal Register notice.
- Murphy Oil Corp. subsidiary Murphy Exploration & Production Co.-USA has let a deepwater integrated subsea engineering, procurement, construction, installation, and commissioning contract to Subsea Integration Alliance (SIA).
- Medallion Midstream LLC and its affiliate Medallion Midstream Services LLC have signed a letter of intent to construct a Delaware basin crude oil pipeline system to provide gathering and transportation services for Parsley Energy Inc.
- Chesapeake Energy Corp., Oklahoma City, has agreed to sell some of its acreage and producing properties in the Haynesville shale of northern Louisiana for $450 million.
- The irony of rising wages in a slumping industry provides three insights into the Canadian oil and gas industry’s effort to regain profitability, according to Todd Hirsch, chief economist of ATB Financial in Calgary.
- Mitsui & Co. Ltd., Tokyo, has agreed to acquire a 20% interest in four Mississippi Canyon blocks in the Gulf of Mexico from Shell Offshore Inc.
- Sydney-based Origin Energy Ltd. has announced plans to sell it’s $1.8-billion conventional upstream oil and gas assets so that it can focus on the wholesale and retail energy markets as well as its LNG business in Queensland.
- President-elect Donald J. Trump’s incoming administration almost certainly will get a dramatically different world energy assessment than President-elect Barack Obama’s did 8 years earlier, the US Department of State’s special envoy for energy resources expects.
- Crude oil prices reached their highest levels in more than a year during Dec. 6 trading with the light, sweet crude oil contract for January settling at nearly $52/bbl while Brent crude oil for February closed at nearly $55/bbl on the London market.
- The final phase of Mexico’s first oil and gas bid round featured the awarding of eight of 10 deepwater blocks in the Gulf of Mexico to a variety of global operators. But a busy Dec. 5 began with Petroleos Mexicanos SA’s first farmout to the private sector since the country began energy reform in 2013.
- Total Oil Trading SA, the oil and gas trading arm of Total SA, Paris, published a crude oil assay dated Jan. 25, 2016, for Angolan CLOV crude.
- Differences exist between two approaches to measuring field decline that could significantly affect appraisals. Field well-productivity performance is a more accurate measure than the industry practice of calculating decline rate based only on production.
- Improved understanding of the predominant organofacies through the past ~500 million years and the number of source rocks preserved in the geologic record will lead to better estimates of paleo-organic matter storage.
- Samples collected from the Kirthar fold belt area near BHP Billiton Ltd.'s Rehmat gas field in the Dadu district near Sindh, Pakistan (Fig. 1), will provide new direction in the development of tight-gas reserves in Pakistan.
- Impact Score Of Marathon Petroleum Corporation (NYSE:MPC) At 100
Marathon Petroleum Corporation (NYSE:MPC) shares have been stated a daily sentiment score of 0.685 for web articles published on 2016-12-05. This is delivered on a -1 to 1 scale after studying the impact of news as per the algorithm. The assessment is ...and more »
- A provision that was passed as part of the Small Business Regulatory Enforcement Fairness Act in 1996 could help Republicans in Congress and the White House keep at least some of their campaign promises to reduce federal regulations in 2017.
- Neil Duffin has been appointed by ExxonMobil Corp. as president of ExxonMobil Production Co. He also has been elected as a vice-president of the corporation.
- Equity Focus: Looking at Shares of Marathon Petroleum Corporation (NYSE:MPC)
The Business Journal
Investors may be looking at the Piotroski F-Score when doing value analysis. The F-Score was developed to help find company stocks that have solid fundamentals, and to separate out weaker companies. Piotroski's F-Score uses nine tests based on ...and more »
- Sell-side Review on Marathon Petroleum Corporation (NYSE:MPC)
In the most recent trading session, Marathon Petroleum Corporation (NYSE:MPC) shares saw a move of +0.15%. Covering Wall Street analysts have a consensus target price of $53.21 on the stock. Target predictions might differ vastly from analyst to analyst.and more »
- Renewable identification numbers (RINs), part of the US government's program to force the use of renewable fuels, have become a multibillion-dollar burden on refiners and tax on US consumers. In 2016, US refiners paid about $2.2 billion for RIN credits.
- Cedigaz’s Natural Gas in the World 2016 report confirms the provisional estimates published early May, showing a moderate natural gas demand growth in 2015 for the third year in a row.
- The US Department of the Army will not approve an easement that would allow the proposed Dakota Access crude oil pipeline to cross under Lake Oahe in North Dakota, Army Asst. Sec. for Civil Works Jo-Ellen Darcy announced on Dec. 4. American Petroleum Institute Pres. Jack N. Gerard immediately called on President-elect Donald J. Trump to approve the project when he takes office in January.
- Crude oil prices on the New York market gained for a third consecutive day Dec. 2, still drawing support from news that the Organization of Petroleum Exporting Countries agreed to reduce cartel production by roughly 1.2 million b/d if some non-OPEC countries cut by 600,000 b/d.
- ExxonMobil Corp. has let a contract to Mitsubishi Heavy Industries Ltd. (MHI), Tokyo, to supply equipment and services for the operator’s current project to add a unit that will expand production of granular and pelletized polyethylene (PE) by 65% from current rates at its 1-million tonne/year PE plant in Beaumont, Tex.
- Oil & Gas Journal's annual look at worldwide proved crude oil and natural gas reserves shows reductions in reserves, reflecting lower commodity prices that have slowed drilling and reduced operating economics.
- ABR Of Marathon Petroleum Corporation (NYSE:MPC) At 1.71
Shares of Marathon Petroleum Corporation (NYSE:MPC) have price target range of $42 to $59. This is 1-year forecast range contingent on the research groups studying the equity sampled by Zacks. The mean of reported targets is at $52.083. Zacks applies a ...and more »
- The Newburgh Press
Marathon Petroleum Corporation (NYSE:MPC) Insider Trading Update
The Newburgh Press
Marathon Petroleum Corporation (NYSE:MPC) has a 1 Year Target Estimate of $53.21. The stock traded with the volume of 4.42 Million in the last trading session. Marathon Petroleum Corporation opened at $47.65 and closed by showing an increase of ...
News Roundup: Stone Energy Corp. (NYSE:SGY), Marathon Petroleum Corporation (NYSE:MPC)FactsReporter
Marathon Petroleum Corporation (NYSE:MPC)
- Now, for the Organization of Petroleum Exporting Countries, comes the hard part.
- Industry this year kept a close watch over the nearly perfect V-shaped charting of the US rotary rig count calculated and released each week by Baker Hughes Inc. (BHI).
- Agreement by the Organization of Petroleum Exporting Countries to cut production tests several elements of an oil market inclined toward abundance.
- The Organization of Petroleum Exporting Countries took a good first step when its members agreed to limit production and exports at its recent meeting, a former Saudi Arabian petroleum minister said. But the cartel probably won’t exert the kind of global market influence it did in the 1970s and ’80s because unconventional production has established a strong, lasting position, Ali Ibrahim Al-Naimi and two oil industry executives agreed.
- The most attractive oil region in the US and perhaps the world has added more than 100 active rigs since last spring.
- The Mardan Khel-1 exploration well, drilled in May 2015 on TAL block in Pakistan’s Khyber Pakhtunkhwa province, will add 10,700 boe/d to the block’s output, which now has reached 90,000 boe/d, MOL Group reported.
- Buy Calls Of Marathon Petroleum Corporation (NYSE:MPC) At 0
Zacks rating methodology denotes to the brokerage firms' predictions to arrive at stocks scores in between 1-5. The mid-score of 3 comes for hold call. Additionally, the lower band score releases Buy recommendation, and higher band directs to Sell call.and more »
Trading Scope: Checking on Shares of Marathon Petroleum Corporation (NYSE:MPC) - The Business JournalTrading Scope: Checking on Shares of Marathon Petroleum Corporation (NYSE:MPC)
The Business Journal
Active investors are constantly trying to stay on top of the markets. Many investors may have to work through multiple trading strategies to find one that works for them. Some individuals may be looking to monitor stock price momentum by looking at ...and more »
- Statoil ASA has commenced production drilling in Mariner heavy oil field from the East Shetland platform in the UK North Sea, 150 km east of the Shetland Isles.
- Chief executives of large companies value technology over people, suggests a study by Korn Ferry.
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