A petrochemical joint venture owned by Chevron Corporation (NYSE:CVX) And ConocoPhillips (NYSE:COP) Signs Contract With Iraq
Chevron Phillips Chemical Co., which is a joint venture of ConocoPhillips (NYSE:COP) and Chevron Corporation (NYSE:CVX), has signed an agreement with Iraq to examine the feasibility of developing a petrochemical plant in the country, according to a spokesperson for the Ministry of Industry and Minerals (Baghdad) Hanaa al-Husseini said.
The company would evaluate constructing a new plant and upgrading an existing Iraq-owned petrochemicals factory in southern Basra province. Melanie Samuelson, who is a spokeswoman for Chevron Philips sent an e-mailed statement saying that the company, with headquarters in The Woodlands, Texas, wishes to evaluate the feasibility of developing an integrated petrochemical complex.
Both Chevron Phillips and the ministry refused to provide further details, including cost estimates or dates for the project.
Based on valuation measures Chevron Corporation (NYSE:CVX) total value in the stock market, calculated after recent closing bell, was $190.23 billion and enterprise value which is the acquisition value of a company retrieved from yahoo data was $183.49 billion. In trailing 12 months price to sales ratio, which is a ratio for valuing a stock relative to its own past performance, other companies or the market itself, was kept at 0.82.
To compare market capitalization and price/sales ratios across firms in a sector, total value of TOTAL S.A. (ADR) (NYSE:TOT) in the stock market was $95.09 billion and the takeover value of a company was $118.50 billion. Last twelve month price to sales ratio for the company was 0.46.
Total value of Exxon Mobil Corporation (NYSE:XOM) in the stock market after latest trading session was $364.37 billion and enterprise value that represents the acquisition value was $364.67 billion. In 52 weeks price to sales ratio was maintained at 0.83.
Now making comparison of above companies with Marathon Oil Corporation (NYSE:MRO) its market capitalization after most recent trading session was $16.85 billion and enterprise value at which it can be sold was $21.67 billion. Price to sales ratio in prior 52 weeks was 1.19.