05:37 AM
Sinopec (SNP) and Cnooc (CEO) agree to buy a $1.3B stake in an offshore Angolan oil block, and hope to avoid the political opposition that faced planned acquisitions in the U.S. and Australia. The firms are buying their 20% stake from Marathon Oil (MRO).
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Thursday, April 30, 2009
08:58 AMMarathon Oil (MRO): Q1 EPS of $0.34 misses by $0.04. Revenue of $10.4B (-42.8%) vs. $8.9B. Shares +1.2% premarket. (PR)
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13:20 PM
Crude now down almost 11%, but big oil stocks are holding up. XOM -1.3%. CVX -1.5%. Others are struggling. COP -5.7%. MRO -4.7%. Depressed oil prices are motivating big bets against the energy patch.
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Thursday, October 30, 2008
08:59 AMMarathon Oil (MRO): Q3 EPS of $2.76 beats by $0.43. Revenue of $22.48B vs. $23.4B. Shares +5.7%. (PR)
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05:29 AM
In the latest effort by China's state-owned energy firms to expand globally, oil firm Cnooc Ltd. bids for natural-gas assets in the Caribbean, and joins up with Sinopec (SNP) to buy a stake in an Angolan oil field from Marathon Oil (MRO).
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14:08 PM
Fitch is mildly bullish on refiners which manage to stay up-and-running while others close down, including Sunoco (SUN), Marathon Oil (MRO), Frontier Oil (FTO) and ConocoPhillips (COP).
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