Seeking Alpha


  • Fri, Mar. 6, 9:52 AM
    • Pemex cannot recover hundreds of millions of dollars lost on Mexican condensate smuggled across the Texas border by bandits and sold to Shell Chemical (RDS.A, RDS.B), ConocoPhillips (NYSE:COP), BASF (OTCQX:BASFY) and other buyers that did not know the feedstock was stolen, a federal appeals court ruled yesterday.
    • A federal judge threw out the claims last year after finding Mexico’s national oil company waited too long to pursue the thefts, and yesterday the appeals court upheld the lower court’s decision.
  • Fri, Feb. 27, 7:03 AM
    • Despite a plunge in oil prices that cut into earnings at its oil and gas division, strong growth in BASF’s (OTCQX:BASFY) core chemicals business allowed the company to post a 25% rise in income for the fourth quarter.
    • Net profit came in at €1.42B ($1.59B), compared with €1.13B a year earlier.
    • BASF also said it expects a slight increase in group sales for 2015, and for EBITDA to match the level it achieved in 2014, at €7.36B.
    | Comment!
  • Thu, Feb. 19, 7:09 AM
    • Yara (OTCPK:YARIY) and BASF (OTCQX:BASFY) are spending $600M to build an ammonia plant in Texas, located at BASF's industrial complex in Freeport.
    • The companies expect the 750K tonnes-per-year plant to be completed by the end of 2017.
    • Yara will own 68% of the project, while BASF will own 32%.
    | Comment!
  • Mon, Jan. 12, 7:06 AM
    • Citigroup has upgraded BASF (OTCQX:BASFY) to Buy from Neutral citing the improved relative competitive positions of its chemical assets due to a lower oil price.
    • The price target on the stock has been raised to €80 from €75.
    | 1 Comment
  • Dec. 29, 2014, 4:49 PM
    • Gazprom (OTCPK:OGZPY) is buying out the 50% stake in South Stream Transport project it didn't own from partners ENI, BASF (OTCQX:BASFY), and EDF, following Vladimir Putin's Dec. 1 decision to cancel the South Stream pipeline project, citing EU objections.
    • The purchase price hasn't been disclosed, but ENI, BASF, and EDF have said they're recovering their investments. South Stream, which aimed to transport gas across the Black Sea from Russia to Bulgaria (and thus bypass Ukraine), was expected to have a $40B+ price tag if finished.
    • Following Putin's move, Gazprom has proposed building a Black Sea pipeline that would deliver gas to Southern Europe via Turkey.
  • Dec. 18, 2014, 2:11 PM
    • Germany's BASF (OTCQX:BASFY) and Russia's Gazprom (OTCPK:OGZPY) are calling off a swap of natural gas storage and trading assets the two companies had planned for the end of this year because of the difficult political environment.
    • The planned swap would have seen BASF subsidiary Wintershall transfer a jointly operated natural gas trading and storage business to Gazprom, and the Russian gas company would have obtained a 50% share in the activities of a unit that explores for and produces oil and gas in southern areas of the North Sea; in return, Gazprom and Wintershall were to develop jointly two additional blocks at a gas field in Siberia.
    • Because of the deal's collapse, BASF now expects this year's EBIT to be slightly rather than considerably higher this year since it will not collect income from divestitures related to the transaction; BASF also says it will book expenses of €113M for 2013 and €211M for 2014.
    | Comment!
  • Nov. 26, 2014, 7:15 AM
    • Units of Goldman Sachs (NYSE:GS), BASF (OTCQX:BASFY), HSBC (NYSE:HSBC) and Standard Bank (OTCPK:SGBLY) have been sued in the U.S. over conspiring since 2007 to rig the twice-daily platinum and palladium "fixings" and the prices of futures and options based on those fixings.
    • The plaintiff, a Florida-based maker of jewelry and police badges named Modern Settings, is claiming that metals purchasers lost millions of dollars due to the scandal.
    • Last month, the London Metal Exchange said it will take charge of platinum and palladium price fixing, and use a new electronic platform from Dec. 1.
    • The Hong Kong Exchanges and Clearing unit said the platform would replace a benchmark system established in 1989, run by Goldman, BASF, HSBC and Standard.
    | Comment!
  • Nov. 21, 2014, 7:52 AM
    • BASF (OTCQX:BASFY) has agreed to sell its Omega-3 production plant in Brattvag, Norway to Marine Ingredients and expects to close the transaction in Q1 of 2015.
    • The manufacturing facility produces natural fish oils, medium-concentrated omega-3s, and customized bottled fish oil.
    | Comment!
  • Nov. 17, 2014, 10:47 AM
    | Comment!
  • Oct. 24, 2014, 7:54 AM
    • Net profit of €1.04B vs. €1.1B billion in the same period a year ago.
    • Revenue by segment: Chemicals flat; Performance Products flat; Functional Materials & Solutions +2%; Agricultural Solutions -3%; Oil & Gas +17%; Other +3%.
    • The company lowered its EBITDA forecast for 2015 to be between €10-€12B, down from an initial target of €14B.
    | 1 Comment
  • Oct. 9, 2014, 9:08 AM
    • BASF's (OTCQX:BASFY) Wintershall oil and gas unit says a major deal with Gazprom (OTCPK:OGZPY) to take over its German gas trading and storage remains on track for completion this fall.
    • Comments by Gazprom CEO Alexei Miller that some projects dealing with end users in Europe "could undergo certain changes" led to speculation the deal's terms could be altered.
    • Both parties have seen delays to the execution of the deal this year, citing legal reasons; now there is the context of rising tension between Russia and its western European business partners over Ukraine.
    | 1 Comment
  • Oct. 8, 2014, 2:45 PM
    • YPF (YPF +0.9%) and Gazprom (OTCPK:OGZPY) are in talks to sign a memorandum of understanding to develop natural gas in Argentina worth at least $1B, Argentina’s Industry Minister says.
    • Gazprom officials will visit YPF as soon as November, the minister says after meeting with Gazprom Chairman Alexey Miller at the International Gas Forum in St. Petersburg.
    • The MOU could include Germany’s BASF (OTCQX:BASFY) unit Wintershall, the minister says.
    | Comment!
  • Sep. 30, 2014, 11:05 AM
    • BASF (OTCQX:BASFY -0.2%) and Smart Planet Technologies are discussing a possible partnership concerning the latter's EarthCoating technology.
    • EarthCoating is a mineralized coating alternative to 100% polyethylene that acts as a barrier and heat seal for paper packaging applications.
    | Comment!
  • Sep. 12, 2014, 4:54 AM
    • Statoil (NYSE:STO) is selling stakes in a number of oil and gas fields and a pipeline project to Germany's Wintershall (OTCQX:BASFY) for $1.25B in cash, plus another $50M if certain goals are met.
    • "This transaction focuses our Norwegian continental shelf portfolio and further improves our capacity to invest in core areas," says Statoil President Arne Sigve Nylund.
    • Statoil has divested more than $18B in assets since 2010, and plans to invest $20B annually between 2014 and 2016.
    | 1 Comment
  • Sep. 5, 2014, 2:27 PM
    • BASF (OTCQX:BASFY) was ordered yesterday by the U.S. Court of Appeals in Philadelphia to face claims it fraudulently hid evidence that its talc products contained asbestos as it sought to scuttle thousands of personal injury lawsuits.
    • The court revived a suit alleging a unit of BASF systematically concealed damaging evidence and manufactured documents to defeat claims that its talc contained cancer-causing asbestos.
    • BASF and other makers of building products are still grappling with asbestos litigation, which began in the 1970s and has turned into the longest-running mass tort in U.S. history.
    | Comment!
  • Sep. 3, 2014, 10:45 AM
    • Since 2013, BASF (OTCQX:BASFY +1.9%) has been providing ingredients for sunscreen production for the Regional Dermatology Training Center in Tanzania, which helps individuals with albinism. However, the company is now looking to develop a more suitable sunscreen that protects people even better.
    • BASF is looking into a sunscreen that does not wash off in water like water-in-oil emulsions and is seeking to raise the "sun protection factor" to 50.
    | Comment!
Visit Seeking Alpha's
BASFY vs. ETF Alternatives
Company Description
BASF is the world?s leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success with environmental protection and social responsibility. Through science and... More