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Oil News: Exxon Mobil Corporation (XOM), BP plc (ADR) (BP), Schlumberger Limited. (SLB)

…Dudley along with Ambani met Prime Minister Manmohan Singh and senior government functionaries to brief them about their investment plans as also to seek clarity on regulatory issues. The duo also met Planning Commission Deputy Chairman Montek Singh Ahluwalia and had sought a meeting with Law Minister Ashwini Kumar, two key members of a ministerial panel on gas pricing and allocation.

Forbes Earnings Preview: Schlumberger (Forbes)
The consensus estimate is 99 cents per share, up 1% from a year ago when Schlumberger Limited. (NYSE:SLB) reported earnings of 98 cents per share. Over the past three months, the consensus estimate has sagged from $1.02. For the fiscal year, analysts are expecting earnings of $4.70 per share. Revenue is projected to eclipse the year-earlier total of $10.61 billion by 1.3%, finishing at $10.75 billion for the quarter. For the year, revenue is projected to come in at $46.01 billion.

National-Oilwell Varco Coverage Initiated by Analysts at Guggenheim. (NOV) (Mideast Time)
Guggenheim started coverage on shares of National-Oilwell Varco, Inc. (NYSE:NOV) in a research report released on Thursday morning, Analyst Ratings Network reports. The firm issued a buy rating on the stock. Several other analysts have also recently commented on the stock. Analysts at TheStreet, Inc. (NASDAQ:TST) reiterated a buy rating on shares of National-Oilwell Varco in a research note to investors on Thursday. Finally, analysts at Sanford C. Bernstein reiterated a market perform rating on shares of National-Oilwell Varco, Inc. (NYSE:NOV) in a research note to investors on Thursday, March 21st.

Exxon has no estimate for restart of Pegasus oil pipeline (My Moinfo)
Exxon Mobil Corporation (NYSE:XOM) said on Wednesday it had no estimate for the restart of a pipeline that spilled 5,000 barrels of oil in a small Arkansas town last month and sparked debate about the safety of carrying heavy crude from Canada across the United States. “At this time, our focus remains on clean-up operations,” Exxon spokesman David Eglington said of the Pegasus pipeline, which spilled the crude oil in a middle-class section of Mayflower, a town of about 2,300 people.

BP Official Says He Wasn’t to Blame for Rig Explosion (Bloomberg)
The BP plc (ADR) (NYSE:BP) official who oversaw operations at the Macondo well testified he wasn’t responsible for the fatal blast that ripped through the rig and sent millions of barrels of oil pouring into the Gulf of Mexico. John Guide, the well-team leader for the Macondo project, denied yesterday that he made drilling decisions, including to forgo extra well stabilizers, that critics contend may have increased the chances of an explosion. Guide said those decisions were made by other BP plc (ADR) (NYSE:BP) officials. “I don’t think I did anything to cause the blowout,” Guide told U.S. District Judge Carl Barbier in New Orleans. “I don’t think I could have done anything different.”

Schlumberger Given New $93.00 Price Target at FBR Capital Markets (SLB) (Mideast Time)
FBR Capital Markets lowered their price target on shares of Schlumberger Limited. (NYSE:SLB) from $100.00 to $93.00 in a research note issued on Tuesday, Analyst Ratings Network reports. The firm currently has an “outperform” rating on the stock. Other equities research analysts have also recently issued reports about the stock. Analysts at Argus reiterated a “buy” rating on shares of Schlumberger in a research note to investors on Thursday, April 11th. They now have a $90.00 price target on the stock. Separately, analysts at TheStreet reiterated a “hold” rating on shares of Schlumberger Limited. (NYSE:SLB) in a research note to investors on Monday, April 8th.

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