4 Energy Stock Stories for Wednesday Investor Perusal

Petrobras – Petroleo Brasileiro (NYSE:PBR): Current price $16.81

Brazil’s state oil company Petrobras initiates an auction to divest its interest in Nigerian oil fields, in a sale that could bring as much as $5 billion, as the firm tries  to raise cash and launches a capital spending plan, reported inside sources to Reuters. The firm has hired Standard Chartered to conduct the process, which will start in the next two months. It is anticipated that Asian state oil concerns will participate in the auction, hoping to add additional production assets to their portfolios.

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ENI (NYSE:E): Current price $45.33

The government of Turkey is said to have decided to cut its ties with Italy’s Eni over that firm’s over its plans to explore for gas off Cyprus. Energy minister Taner Yildiz said in an interview with CNN’s Turkish channel that  “We have decided not to work with Eni in Turkey, including suspending their ongoing projects.” In the past, Turkey had more than once declared that it would end co-operation with firms that are involved in Cyprus, and directly warned Eni not to deal with Nicosia last November.

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Atlantic Power Corporation (NYSE:AT) Current price $5.02

On Wednesday, Atlantic power announced that Edward Hall has been named Executive Vice President Chief Operating Officer, effective April 2nd. Hall will be responsible for all of Atlantic Power’s operations, asset management, environmental health & safety and engineering functions, and as a member of the executive management team, he will also be heavily involved in the development and execution of the company’s operational and strategic initiatives.

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Pioneer Natural Resources Co. (NYSE:PXD): Current price $126.61

Pioneer Natural is the new Top Pick at SunTrust, which believes that shares have underperformed owing to fears in connection with its financing needs. The analyst believes that its revolver capacity and net debt to EBITDA through 2014 will continue unchanged and says that its Midland Basin assets are undervalued. The firm gives the shares a Buy, along with a $6.50 price target.

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