Energy Business Review: Chevron Gets Off EASY, Cheniere JUMPS

Brazilian investigators decided on Wednesday that Chevron’s (NYSE:CVX) offshore oil spill in that country in 2011 caused little environmental damage, said to a spokesman for the federal police. The findings have been delivered to a court in which a judge is mulling criminal charges against Chevron and Transocean (NYSE:RIG). On Thursday CVX’ shares moved up a bit following JPMorgan’s upgrade from Underweight to Neutral, commenting that the oil major offers a “more balanced risk-reward outlook” as its project lineup delivers “substantial growth in long-lived production.”

Don’t Miss: Gold and Silver BOUNCE Off Intra-Day Lows.

Shares of Cheniere Energy (AMEX:LNG) jump, and shares of its subsidiary Cheniere Partners (AMEX:CQP) less so, subsequent to the latter’s revelation that it has received $3.4 billion in lender commitments for its huge Sabine Pass natural gas liquefaction project. Some $2 billion in equity financing has already been organized, which enable CQP to opt out of plans involving a $1.25 billion term loan facility.

Don’t Miss: Mosaic’s Fourth Quarter Earnings Sneak Peek.

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