Ratings firms have expressed concern about a Brazilian government decision to sell billions of dollars worth of offshore oil rights to Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR), saying the move will weigh on the state-run oil company’s cash flow and creditworthiness. The company is formally known, was awarded on Tuesday the rights to explore four offshore fields off Brazil’s southeast coast believed to contain an estimated 5 billion to 9 billion barrels of oil. Petroleo Brasileiro Petrobras SA (ADR) (NYSE:PBR) stock performance was -1.15% in last session and finished the day at $14.63. Traded volume was 12.08million shares in the last session and the average volume of the stock remained 23.11million shares. The beta of the stock remained 1.73.

Valero Energy Corp. (NYSE:VLO), which has generated ample controversy in recent years for seeking tax breaks and suing local governments to drop its tax bill, has applied for another public subsidy to expand its Houston refinery. Valero Energy Corporation (NYSE:VLO) dropped -1.15 percent to $51.67 Friday on volume of 10.68million shares. The intra-day range of the stock was $51.23 to $52.49. Valero Energy Corporation (NYSE:VLO) has a market capitalization of $27.56billion.

Oklahoma City-based Chesapeake Energy Corp. (NYSE:CHK), already facing antitrust claims in Michigan over bids on gas exploration rights, pleaded not guilty last week in a state court in Cheboygan to charges that it lied to landowners about leases it took out on their property. Chesapeake Energy Corporation (NYSE:CHK)’s stock on June 27, 2014 reported a decrease of -0.39% to the closing price of $30.40. Its fifty two weeks range is $20.14 -$31.49. The total market capitalization recorded $20.25billion. The overall volume in the last trading session was 10.84million shares. In its share capital, CHK has 666.21million outstanding shares.

GlencoreGLNCY -1.17% PLC has told the government of Guinea that it is interested in rights to develop one of the world’s most sought-after iron-ore projects, the country’s Simandou deposit, according to two people familiar with the matter. Earlier this year, the government revoked the license previously held by Vale SA (ADR) (NYSE:VALE) and BSG Resources Ltd., alleging BSG obtained the rights through corruption. BSG has denied the charge and has said it will fight the revocation in international arbitration. On Friday, shares of Vale SA (ADR) (NYSE:VALE) dropped -1.12% to close the day at $13.29. Company return on investment (ROI) is 11.80% and its monthly performance is recorded as 1.14%.  Vale SA (ADR) (NYSE:VALE) quarterly revenue growth is -0.08%.

Coral Gold Resources Ltd. is pleased to announce that Barrick commenced the 2014 diamond core hole drill program on June 26, 2014 on the Gold Ridge property located in Crescent Valley, Nevada. In the agreement, Barrick Gold Exploration Inc. (“Barrick Gold”), and Barrick Gold Corporation Corporation (USA) (NYSE:ABX), pursuant to which Barrick Gold has been granted an option to earn up to an undivided 60% interest on the Company’s Gold Ridge Property in Nevada (consisting of a portion of the Robertson Property) in consideration for Barrick Gold incurring US$12,000,000 in exploration expenditures over a five year period. Barrick Gold Corporation (USA) (NYSE:ABX) stock performance was 0.06% in last session and finished the day at $18.02. Traded volume was 9.22million shares in the last session and the average volume of the stock remained 9.80million shares. The beta of the stock remained 0.26.