Energy Business Review: Chevron’s Discovery In Oz, Rosneft Needs A Loan

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Chevron Corporation (NYSE:CVX) has announced another natural gas discovery in the Gorgon area off the western coast of Australia, which contributes to indications that the company might be able to grow its liquefied natural gas project in the area. A series of discoveries during the past two years has boosted the idea that Chevron can expand Gorgon beyond its initial yearly production capacity of 15.6 million metric tons of gas.

Don’t Miss: Alpha Natural Resources Under Review.

Prior speculation was correct, in that The Blackstone Group L.P. (NYSE:BX) will purchase Vivint for a price of $2 billion from the initial investors Goldman Sachs Group Inc. (NYSE:GS), and Jupiter and Peterson, according to the Vivint Chief Executive Todd Pedersen to Bloomberg. Vivint provides energy-management, home-security, and solar-power leases to more than 670,000 households in North America.

Rosneft Oil Co. (RNFTF.PK) needs $15 billion in loans from London lenders, to fund a potential acquisition of 50 percent of BP’s (NYSE:BP) struggling Russian oil venture TNK-BP, according to The Financial Times. Sources indicate that Rosneft could make an offer subsequent to conducting due diligence, and also that the company might pay in excess of $20 billion for the stake.

Are these stocks a buy or sell? Let us help you decide. Check out our Wall St. Cheat Sheet Stock Picker Newsletter now >>

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business