For Immediate Release Chicago, IL – January 13, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Suncor Energy Inc. (SU), Chevron Corp. (CVX), PetroChina Co. Ltd. (PTR), Eni SpA (E) and ConocoPhillips ( COP). Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free. Here are highlights from Tuesday’s Analyst Blog: Oil & Gas Stock Roundup It was a week where oil futures dropped to their worst settlement levels since Feb 2004. On the other hand, natural gas hit its highest in almost 3 months. On the news front, Suncor Energy Inc. (SU) extended the deadline for its hostile bid to acquire Canadian Oil Sands Ltd. Overall, it was a mixed week for the sector. While West Texas Intermediate (WTI) crude futures slumped 10.5% to close at $33.16 per barrel, natural gas prices soared 6% to $2.472 per million Btu (MMBtu). (See the last ‘Oil & Gas Stock Roundup’ here: ConocoPhillips, NuStar First to Export U.S. Oil in 40 Years .) Crude prices dived after weak Chinese economic data stoked fears about slowdown in energy demand from the world’s second largest oil consumer. The commodity received a further jolt when the U.S. Energy Department's latest inventory release showed that refined product inventories – gasoline and distillate – both increased significantly from their previous week levels, defying analyst predictions. Natural gas, however, fared much better after an inventory report showed a bigger-than-expected withdrawal. The heating fuel was also buoyed by predictions of strong demand due to cool winter weather forecasts over the next few days. Recap of the Week’s Most Important Stories 1. Suncor Energy extended its buyout offer for Canadian Oil Sands Ltd. by nearly three weeks, to Jan. 27, suggesting that Canada’s largest energy firm fell short of the two thirds majority required to seal the deal. Shareholders of Canadian Oil Sands originally had time till Jan 8 to decide on whether to accept Suncor Energy’s C$4.3 billion offer. Suncor Energy still believes its offer is quite acceptable especially when oil price has been weak for more than a year now with almost no chance of any near-term recovery. However, Canadian Oil Sands considers Suncor Energy’s bid significantly undervalued and is mulling over remaining as an independent player. In fact, billionaire Seymour Schulich – having a 5.2% stake in Canadian Oil Sands – has considered the bid totally unacceptable. 2. U.S. energy giant Chevron Corp. (CVX) along with PetroChina Co. Ltd. (PTR) − the largest integrated oil company in China − started producing natural gas in the southwestern area of China at the end of last year, after a long delay. Gas well-A in the Luojiazhai field of Southwest China commenced production of natural gas commercially on Dec 30. This is eight years after the companies entered into a 30-year production sharing deal in 2008. Among the three phases of the Chuandongbei development, which will likely cover 309 square miles, the Luojiazhai project is the first. As per sources, the first phase is projected to produce 3 billion cubic meters of gas annually. Chevron and PetroChina will operate in the same area for the second and the third phases. Chevron with a 49% interest in the sour gas project is the operator. PetroChina is the owner of the remaining stake. Investors should note that Chevron is a well-known operator of sour gas, which is basically natural gas having high hydrogen sulphide content. 3. Italy’s Eni SpA (E) commenced oil production from the Mpungi field in the West Hub Development Project. Located within Block 15/06 of the Angolan Deep Offshore, about 350 kilometers northwest of Luanda and 130 kilometers west of Soyo, the Mpungi field represents the third milestone in the West Hub Development Project. The West Hub Development Project’s first oil came from the Sangos field in Nov 2014. Thereafter, the Cinguvu field yielded oil in early Apr 2015. With the commissioning of the Mpungi field, production is expected to reach about 100,000 barrels of oil per day in the first quarter of 2016. 4. Houston-based energy major ConocoPhillips (COP), along with it partners, announced the shipment of the first cargo of liquefied natural gas (LNG) from the massive Australia Pacific LNG (“APLNG”) facility. The APLNG facility – in which ConocoPhillips has a 37.5% stake – is located on Curtis Island in Queensland, Australia. Construction of the APLNG facility started in 2011. The facility comprises of two production units, each having a capacity of about 4.5 million tons per annum of LNG. The facility was constructed with the aim of capturing the margin between cheap U.S. natural gas and more expensive intentional gas, which often fluctuates with oil price volatility. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> About Zacks Equity Research Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term. Continuous coverage is provided for a universe of 1,150 publicly traded stocks. Our analysts are organized by industry which gives them keen insights to developments that affect company profits and stock performance. Recommendations and target prices are six-month time horizons. Zacks "Profit from the Pros" e-mail newsletter provides highlights of the latest analysis from Zacks Equity Research. Subscribe to this free newsletter today. Find out What is happening in the stock market today on zacks.com. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report SUNCOR ENERGY (SU): Free Stock Analysis Report CHEVRON CORP (CVX): Free Stock Analysis Report PETROCHINA ADR (PTR): Free Stock Analysis Report ENI SPA-ADR (E): Free Stock Analysis Report CONOCOPHILLIPS (COP): Free Stock Analysis Report To read this article on Zacks.com click here.
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