Shell says it’s containing oil spill in Nigeria’s Delta (Business Insurance)
Royal Dutch Shell plc (ADR) (NYSE:RDS.A)’s Nigerian unit is containing an oil spill in the Niger Delta, the company said Friday, after the military reported liquid “jetting” out of a pipeline. Massive oil theft, sabotage of infrastructure and leaks from ageing pipelines are all cutting into the profits of oil majors operating in Nigeria, as well as damaging the public finances of Africa’s second-largest economy. The hundreds of spills a year in the Niger Delta have also done serious environmental damage, destroying fishing communities and poisoning water used for drinking and bathing.
Stocks in the News – Total SA (ADR) (NYSE:TOT), Ann Inc (NYSE:ANN), Nilever N.V. (ADR) (NYSE:UN), Gastar Exploration Limited (USA) (NYSEMKT:GST) (SBWire)
TOTAL S.A. (ADR) (NYSE:TOT) increased +1.16% and closed at $54.90 on a traded volume of 1.56 million shares, in comparison to 1.33 million shares of average trading volume. So far this year, the stock is up over 5.56%. The company has a total market capitalization of $124.53 Billion and its total outstanding shares are 2.27 Billion. TOTAL S.A. (ADR) (NYSE:TOT) is a France-based integrated international oil and gas company. It is an integrated international oil and gas company and a chemicals manufacturer.
Petrobras makes new discovery of good quality oil in pre-salt layer in the area of the Onerous Transfer of Rights (PreSalt.com News)
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) announces the discovery of good quality oil, in one of the areas of the transfer of rights, called “Surrounding of Iara”, in the pre-salt of the Santos Basin. The discovery was confirmed by oil samples under test cable, confirming good quality oil (26 API), harvested in carbonate reservoirs of excellent quality, situated just below the salt layer, from a depth of 5045 meters.The well was completed at a depth of 5580 meters, completing a total depth from the surface of the water of 7846 meters, after reaching the goals set by the Transfer of Rights Agreement.
Hold onto Royal Dutch Shell (Zacks.com)
On Aug 21, 2013, we retained our Neutral recommendation on Europe’s largest oil company Royal Dutch Shell plc (ADR) (NYSE:RDS.A). Royal Dutch Shell is one of the largest integrated energy firms in the world with a strong and diversified portfolio of development projects that offer attractive long-term opportunities. The group – renowned for its success in bringing some of the largest and most technically challenging capital-intensive projects to fruition – is expected to continue accelerating revenue and earnings growth over the next few quarters. A healthy dividend yield and reasonably cheap valuation are other positives in the Royal Dutch Shell plc (ADR) (NYSE:RDS.A) story.
Petrobras rises as Brazil launches $60B currency intervention (Seeking Alpha)
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) shares power higher after Brazil’s central bank announced a currency intervention program to provide $60B worth of cash and insurance to the foreign exchange market by year-end, a move aimed at bolstering the country’s currency as it slips to near five-year lows vs. the dollar. The government hopes a series of currency swaps and repurchase agreements will prevent companies with dollar obligations from scrambling to the market at the same time, afraid that waiting will force them to pay more to buy dollars.