3 Energy Stock Stories Driving Interest On Tuesday

Royal Dutch Shell (NYSE:RDSA): Closing price $66.00

After nearly a month, Shell has lifted a force majeure measure on liquefied natural gas exports from Bonny Island. The measure was lifted on Monday, according to Nigerian joint venture with Shell Petroleum Development Company, in a Tuesday confirmation. It was imposed at Nigeria LNG on May 15th after Shell halted its supplies to the Bonny Island facility because of a reported leak. The joint venture said on Tuesday that the subsequent investigation had discovered the leak to have been caused by sabotage, saying that “some 240,000 barrels of oil equivalent per day…was deferred over the shut-in period. SPDC has now repaired the line and resumed gas production.”

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RDSA

Phillips66 (NYSE:PSX): Closing price $63.96

The firm reported on Tuesday that it will sell Ireland’s sole refinery, resulting in another hit to Europe’s struggling oil refining industry. Seth Kleinman, chief of energy research at Citigroup, said that it was likely that the 71,000 barrels-per-day Whitegate facility in Cork would need to shut as it will be difficult to locate buyers for it. Kleinman remarked, “The odds of a buyer emerging look slim.” For its part, Phillips66 spokesman Rich Johnson said in a statement that “Phillips 66 intends to continue operating the assets as usual during the marketing process, which is expected to last for several months.” Other assets up for sale include an oil and refined products storage terminal in Bantry Bay, together with its wholesale marketing business.

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PSX

Statoil (NYSE:STO): Closing price $22.00

Statoil has added to its collection of shale assets in Australia by reaching new farm-in deals with its Canadian partner PetroFrontier in the region. The Norwegian government-run mover has modified the terms of an existing farm-in deal that covers assets in the Southern Georgina basin, which means that it will become the operator with an 80-percent interest. In July 2012, Statoil won approval to farm into a minimum of four PetroFrontier shale exploration permits in Northern Territory. Under the terms, Statoil was to hold an initial 25 percent interest in the four permits, but retained the option to operate the second phase and boost its interest up to 65 percent.

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STO

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