Foreign Oil News: Royal Dutch Shell plc (ADR) (RDS.A)’s Extracted Bid, Total SA (ADR) (TOT)’s Agreement & Petroleo Brasileiro Petrobras SA (ADR) (PBR)’s Options Chain

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Petroleo Brasileiro SA Stock Rating Upgraded by Zacks (PBR) (Zolmax)
Zacks upgraded shares of Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) from an underperform rating to a neutral rating in a report released on Tuesday, American Banking & Market News reports. Zacks currently has $15.80 price objective on the stock. Zacks has also modified their ratings on a number of other basic materials stocks in the few days. The firm upgraded shares of Silicon Motion Technology from an underperform rating to a neutral rating. The firm now has a $11.40 price target on that stock.

Chevron Nigeria withdraws from Olokola LNG (HydroCarbonProcessing)
Chevron Nigeria has withdrawn from the Olokola liquefied natural gas project intended to exploit Nigeria’s vast gas reserves after it failed to become operational. …The OKLNG project company comprises the Nigerian National Petroleum Corp., BG Group, Chevron Corporation (NYSE:CVX) and Royal Dutch Shell plc (ADR) (NYSE:RDS.A). Mr. Haarstrup said that Shell also withdrew from the project last month, while BG left in June 2012. A Shell spokesman in Nigeria declined to comment on whether the company has withdrawn from the project.

Brazil to Receive Reloaded LNG Spot Cargo From Spain at Pecem (BusinessWeek)
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), Brazil’s importer of liquefied natural gas, is set to receive a reloaded spot cargo from Spain, shipping data show. The Wilgas, with a capacity of about 127,000 cubic meters, is en route to Pecem, according to transmissions captured by IHS Fairplay on Bloomberg. It was scheduled to dock Aug. 26, the data show. State-owned Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), known as Petrobras, has a floating regasification terminal at the port in northeastern Brazil.




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