TAKEOVERS $500 BLN
The world's six largest publicly traded oil producers have more than a half-trillion dollars in stock and cash to snap up rival explorers.
Exxon Mobil Corp. tops the list with a total of $320 billion for potential acquisitions. Chevron is next with $65 billion in cash and its own shares tucked away, followed by BP Plc with $53 billion.
Merger speculation was running high after Anadarko Petroleum Corp. said Wednesday it withdrew an offer to buy Apache Corp. for an undisclosed amount. Apache rebuffed the unsolicited offer and wouldn't provide access to internal financial data, Anadarko said. Both companies are now takeover targets.
Royal Dutch Shell Plc has $32.4 billion available, almost all of it in cash. That said, The Hague-based company is unlikely to go hunting for large prey given plans announced in April to take over BG Group Plc for $69 billion in cash and stock.
At the bottom of the pack are ConocoPhillips with $31.5 billion and Total SA with $30.5 billion. More than 90 percent of ConocoPhillips' stockpile is in the form of shares held in its treasury. Total's arsenal is 85 percent cash.
Even with its lowest cash balance in at least a decade, Exxon still wields a mighty financial stick. The Irving, Texas-based company has $316 billion of its own shares stockpiled in the company treasury that it could use for an all-stock takeover. The world's biggest oil company by market value made its two largest acquisitions of the last 20 years with stock -- the $88 billion Mobil deal in 1999 and the $35 billion XTO transaction in 2010.
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AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.
TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.
ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.
FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.