Chevron Launches Premium Turbine Oil (Machinery Lubrication Magaz)
Chevron Corporation (NYSE:CVX) recently introduced its new GST Premium 32 turbine oil to meet the requirements of non-geared gas and steam turbines. Specifically formulated for use in turbines where extreme temperatures are experienced, the new oil is well suited for power generation applications in markets like petrochemical production, utilities and heavy industry. The turbine oil combines highly refined Group II base stocks and a unique additive package to minimize the formation of deposits in reservoirs, high-temperature bearings and other hot areas of the turbine. It also offers oxidation and thermal stability for long service life at severe temperatures with excellent varnish control.
Clean Energy Fuels Corp (CLNE) Highly Exposed to Natural Gas Commodity Pricing (The Wall Street Transcript)
Clean Energy Fuels Corp (NASDAQ:CLNE) has large exposure to the commodity pricing of natural gas in North America, as the company owns stations that distribute CNG and LNG, leading Pavel Molchanov, Analyst at Raymond James & Associates, to avoid the stock based on the company’s performance and outlook. “The company has negative EBITDA, burning cash, even without taking capital spending into account, and it’s trading at about four times revenue. For a commodity company with low barriers to entry that’s nowhere near profitability and trading at four times revenue, that’s a stock that I would definitely avoid,” Molchanov said.
ICEH to press ahead with study of port (Bangkok Post)
The Independent Commission on Environment and Health (ICEH) will proceed with consideration of the environmental and health impact assessment of Chevron Corporation (NYSE:CVX)’s controversial deep-sea port project in Nakhon Si Thammarat. Consideration will proceed even though the firm has decided to scrap the project. The ICEH, which looks into the environmental and health impact assessment (EHIA) reports of harmful projects, yesterday summoned representatives of the US-based oil giant to ask about the status of the port project in Tha Sala district. Chevron announced in December last year that it had cancelled the port and shore support facility as the project has suffered long delays and would take another five years to complete _ too late to meet Chevron Corporation (NYSE:CVX)’s needs. Rising construction costs were another factor.
Cheniere Energy VP Greg Rayford Sells 6,500 Shares (LNG) (Zolmax)
Cheniere Energy, Inc. (NYSEMKT:LNG) VP Greg Rayford unloaded 6,500 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $27.27, for a total value of $177,255.00. Following the completion of the transaction, the vice president now directly owns 1,065,730 shares in the company. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. LNG has been the subject of a number of recent research reports. Analysts at TheStreet reiterated a “hold” rating on shares of Cheniere Energy, Inc. (NYSEMKT:LNG) in a research note to investors on Tuesday, July 9th.
Ukraine region rejects initial draft of Chevron shale gas deal (Reuters)
Prospects of a new shale gas deal being concluded in Ukraine hit a setback on Tuesday when a local council voted against an initial draft production-sharing agreement with U.S. energy major Chevron Corporation (NYSE:CVX), an official said. The official, who did not wish to be named, told Reuters that deputies in Ivano-Frankivsk region, in the west of the country, had sent the draft back to the government pressing for guarantees which would address their concerns over the exploration plans.