Earnings and Appointments in Oil & Gas Reflect Short and Long-Term Growth Rate - Research Report on BP, Total, Encana, PetroChina, and Statoil Editor Note: For more information about this release, please scroll to bottom PR Newswire NEW YORK, August 2, 2013 NEW YORK, August 2, 2013 /PRNewswire/ -- Today, Analysts Corner announced new research reports highlighting BP plc (NYSE: BP), Total SA (NYSE: TOT), Encana Corporation (NYSE: ECA), PetroChina Co. Ltd. (NYSE: PTR), and Statoil ASA (NYSE: STO). Today's readers may access these reports free of charge - including full price targets, industry analysis and analyst ratings - via the links below. BP plc Research Report On July 30, 2013, BP plc (BP) released its Q2 2013 financial results. The Company reported underlying cost profit of $2.7 billion, down 25.0% YoY, and operating cash flow of $5.4 billion, during the quarter. BP's Upstream segment's pre-tax underlying replacement cost profit declined 2.3% YoY to $4.3 billion, despite offsetting the impact of divestments, with increased production from new high-margin projects. Bob Dudley, BP Group CEO, stated, "The results show strong underlying pre-tax performance from BP's businesses. We are seeing growth in production from new high-margin projects and are making good progress in exploration and project delivery. Completion of our operational milestones confirms our confidence in delivering our commitment to materially increase operating cash flow in 2014." BP anticipates its Upstream production to be lower in Q3 2013, consequent to planned seasonal turnaround activity and continuing divestment impacts, despite increasing production from new projects. The Full Research Report on BP plc - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/f948_BP] -- Total SA Research Report On July 26, 2013, Total SA (Total) released its Q2 2013 financial results. The Company's sales were down 2.6% YoY to $61.4 billion, while net income was up 70.4% YoY to $3.3 billion, during the quarter. Adjusted net income was $3.5 billion, or $1.55 per diluted share, compared to $3.6 billion, or $1.58 per diluted shares, in Q2 2012. Christophe de Margerie, Chairman and CEO of Total, stated, "With adjusted net income of 2.7 billion euros this quarter, the Group demonstrated its strong resilience in the Upstream despite lower hydrocarbon prices. The restart of the production at Elgin/Franklin in the UK and the first cargo from Angola LNG were notable events of the quarter. Regarding our Upstream projects, the launch of the Egina deep off-shore project and the progress on Yamal LNG illustrate our ability to prepare for the future in a sustainable manner by developing competitive and diverse projects. In this way, the Group expects to benefit from an extended series of start-ups over the next several years." The Full Research Report on Total SA - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/5801_TOT] -- Encana Corporation Research Report On July 24, 2013, Encana Corporation (Encana) released its Q2 2013 financial results. The Company's cash flow was down 16.2% YoY to $665 million, or $0.90 per diluted share, in Q2 2013. Operating earnings were up 24.7% YoY to $247 million, or $0.34 per diluted share. Net earnings were $730 million, compared to a loss of $1.5 billion in Q2 2012. Oil and natural gas liquids volumes were up 69% YoY, with average production of approximately 47,600 barrels per day (bbls/d). Doug Suttles, President and CEO of Encana commented, "Our focus moving forward is to continue to exercise capital discipline while working to achieve ever greater efficiencies in how we run our business. We expect to see cost savings materialize throughout the rest of the year as a result of those efforts." The Full Research Report on Encana Corporation - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/01ac_ECA] -- PetroChina Co. Ltd. Research Report On July 28, 2013, PetroChina Co. Ltd. (PetroChina) announced the appointment of Mr. Wang Dongjin as President of the Company, effective July 28, 2013. PetroChina reported that the appointment of Dongjin was related to the previously announced resignation of former Chairman and Director of the Company, and appointment of Mr. Zhou Jiping as Chairman of the Company, dated April 25, 2013. The Full Research Report on PetroChina Co. Ltd. - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/dc96_PTR] -- Statoil ASA Research Report On July 25, 2013, Statoil ASA (Statoil) released its Q2 2013 financial results. The Company's net operating income was down 44.7% YoY to (Norwegian Krone) NOK34.3 billion, and adjusted earnings were down 17.0% YoY to NOK38.0 billion, in Q2 2013. Net income was down 83.8% YoY to NOK4.3 billion or $1.38 per share. President and CEO of Statoil Helge Lund said, "Statoil delivered an operationally solid quarter. We produced as planned, delivering record production from our portfolio outside Norway. We are on track and maintain our guidance for 2013." Lund continued, "Our financial results were impacted by lower prices for liquids and gas and weak trading results. However, we have maintained good cost control and delivered strong earnings, particularly from our international portfolio." The Full Research Report on Statoil ASA - including full detailed breakdown, analyst ratings and price targets - is available to download free of charge at: [http://www.AnalystsCorner.com/r/full_research_report/d198_STO] ---- EDITOR NOTES: 1.This is not company news. We are an independent source and our views do not reflect the companies mentioned. 2.Information in this release is fact checked and produced on a best efforts basis and reviewed by a CFA. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below. 3.This information is submitted as a net-positive to companies mentioned, to increase awareness for mentioned companies to our subscriber base and the investing public. 4.If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at pubco@EquityNewsNetwork.com. 5.For any urgent concerns or inquiries, please contact us at compliance@EquityNewsNetwork.com. 6.Are you a public company? Would you like to see similar coverage on your company? Send us a full investors' package to research@EquityNewsNetwork.com for consideration. COMPLIANCE PROCEDURE Content is researched, written and reviewed on a best-effort basis. This document, article or report is prepared and authored by Equity News Network. An outsourced research services provider has, through Chartered Financial Analysts, only reviewed the information provided by Equity News Network in this article or report according to the Procedures outlined by Equity News Network. Equity News Network is not entitled to veto or interfere in the application of such procedures by the outsourced provider to the articles, documents or reports, as the case may be. NOT FINANCIAL ADVICE Equity News Network makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein. NO WARRANTY OR LIABILITY ASSUMED Equity News Network is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Equity News Network whatsoever for any direct, indirect or consequential loss arising from the use of this document. Equity News Network expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Equity News Network does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice. AnalystsCorner.com SOURCE Analysts' Corner Contact: Joe Thomas CONTACT PHONE: +1-310-496-8071 (North America)
Earnings and Appointments in Oil & Gas Reflect Short and Long-Term Growth Rate - Research Report on BP, Total, Encana,
Press spacebar to pause and continue. Press esc to stop.