BP Plc. (ADR) (NYSE:BP) recently announced the start-up of a major project in the Deepwater Gulf of Mexico. The Na Kika Phase 3 project came online as first of the two new wells started oil production. BP Plc. (ADR) (NYSE:BP) stock opened at $50.62 in last session, and closed at $50.42, while the day range of stock is $50.27 – $50.72. The stock showed a positive weekly performance of 2.21%.
Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) the world’s most indebted oil company, fell in Sao Paulo on concern continued fuel subsidies ordered by the government will make it hard to fund its business plan even after a $16 billion cut announced yesterday. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) stock opened at $11.23, in last session and closed at $11.07, by losing -2.29%. The 52 week range of the stock is $10.63 – $19.65. Company’s market capitalization is $72.20 billion.
Exxon Mobil Corporation (NYSE:XOM) the world’s largest oil company by market value, lowered spending on new wells, offshore platforms and fuel plants by 13 percent after boosting reserves to a record last year. Exxon Mobil Corporation (NYSE:XOM) stock decreased -0.54% and finished the last session at $95.79. The EPS of the stock remained 7.37. Company’s market capitalization is $418.46 billion.
Chevron Corporation (NYSE:CVX) and Royal Dutch Shell Plc (RDSA) are seizing on a surge in demand for pipelines and storage facilities to raise cash for oil and gas exploration. Chevron Corporation (NYSE:CVX) stock opened the session at $114.82, and closed the session at $115.51. The 52 week range of the stock remained $109.27 – $127.83 and the day range was $114.40 – $115.86.
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