Chevron Corp. (NYSE:CVX): Closing price $124.59
On Monday, Chevron will receive bids from prospective buyers for three oil blocks in the Niger Delta, with several local Nigerian firms in the competition, according to industry sources who spoke to Reuters on Tuesday. The sources estimate the mean value of the three blocks combine at between $500 million and $600 million, and expect that winning bids will be near those levels. In June, Chevron said it would be divesting its 40 percent stake in five onshore blocks, thus joining Royal Dutch Shell, Italy’s Eni, and France’s Total in selling stakes in Niger Delta assets.
BP (NYSE:BP): Closing price $42.28
Oil companies including BP and Total SA have booked eight tankers to load Libyan crude, making an indication that exports from that country are set to accelerate after being disrupted for at least three months. Europe’s second- and third-biggest oil firms were among traders who hired eight tankers to collect more than 5 million barrels from Libya’s ports in September, according to data compiled by Bloomberg. Libya’s output fell to 150,000 barrels per day at the start of this month, down from 1.4 million barrels per day in April, the International Energy Agency said on September 12.
Royal Dutch Shell (NYSE:RDSA): Closing price $65.53
The Louisiana governor’s office said Tuesday that Shell selected a site in Louisiana for a plant that will cost a minimum of $12.5 billion, which would convert natural gas into diesel, jet fuel, and other liquids. Shell said the project, which is not yet certain to happen, could help to harness additional domestic natural gas to make transportation fuels. The energy major will continue to mull the option prior to making an investment decision at the site in Ascension Parish, Louisiana, according to a news release.
YPF Sociedad Anonima (NYSE:YPF): Closing price $20.55
Argentina’s government-controlled oil company and the local division of Dow Chemical Co. are set to invest a total of $188 million through which to explore for shale gas in the resource-rich area known as Vaca Muerta. For its part, Dow will invest $120 million in the deal, with the remainder paid by YPF. The accord requires the companies to bore 16 wells to extract shale gas as part of a pilot program. In a statement on Tuesday, YPF said, “With this agreement, the companies will work together to identify new projects aimed at expanding Argentina’s petrochemical industry in areas of mutual interest.”