On Wednesday, Shares of Chesapeake Energy Corporation (NYSE:CHK), lost -0.79% to $11.29, as oil prices dropped about 3 percent on Wednesday on expectations raised exports from Iran will add to a global supply glut and on rising inventories at the delivery hub at Cushing, Oklahoma.
Tuesday’s agreement on Tehran’s nuclear program between six world powers and Iran is predictable to result in the lifting of sanctions, which have limited sales of Iranian oil for several years, in early 2016, according to Reuters.
Brent August crude fell $1.46, or 2.5 percent, to settle at $57.05 a barrel. The August contract expires on Thursday. Reuters Reports.
Chesapeake Energy Corporation produces oil and natural gas through acquisition, exploration, and development of from underground reservoirs in the United States. It holds interests in natural gas resource plays, counting the Haynesville/Bossier Shales in northwestern Louisiana and East Texas.
Shares of Anadarko Petroleum Corporation (NYSE:APC), declined -1.53% to $75.20, during its last trading session.
Anadarko Petroleum Corporation, will host a conference call on Wednesday, July 29, 2015, at 8 a.m. CDT (9 a.m. EDT) to talk about its second-quarter 2015 financial and operating results. Earnings will be released after close of market on Tuesday, July 28.
Anadarko Petroleum Corporation engages in the exploration, development, production, and marketing of oil and gas properties. It operates through three segments: Oil and Gas Exploration and Production; Midstream; and Marketing.
Finally, JinkoSolar Holding Co., Ltd. (NYSE:JKS), ended its last trade with -1.82% loss, and closed at $25.92.
JinkoSolar Holding, declared that JinkoSolar Power Engineering Group Limited (“Jinko Power”), a partner of the Company, has signed a $150 million loa contract with Credit Suisse AG (“Credit Suisse”) and a number of financial institutions. Proceeds from the financing will be used to expand Jinko Power’s project portfolio in China and provides funds to expand capacity to 1.4 GW. Credit Suisse acted as sole arranger and led the consortium of investors in the financing.
According to the terms of agreement, Jinko Power will receive an 18-month senior secured term loan totaling $150 million. The lenders will also be granted warrants, which represent no more than about 2% of Jinko Power’s equity on a fully distributed basis, subject to their terms and conditions.
JinkoSolar Holding Co., Ltd., together with its auxiliaries, engages in the design, development, production, and marketing of photovoltaic products in the Peoples Republic of China and internationally. The company operates through two segments, Manufacturing and Solar Power Projects.
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