4 Energy Stock Stories Making a Commotion Today

ConocoPhillips (NYSE:COP): Closing price $67.66

On Wednesday, Conoco said that an international arbitration tribunal ruled that Venezuela unlawfully expropriated its significant oil investments in the Petrozuata and Hamaca heavy crude oil projects, and the offshore Corocoro development project. According to an International Center for Settlement of Investment Disputes Tribunal, Venezuela’s actions were an unlawful expropriation; the tribunal also confirmed its jurisdiction over this matter. The ruling marks a major milestone, but the arbitration process will continue for a period of time so as to determine compensation owed for ConocoPhillips’ substantial investments.

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Total SA (NYSE:TOT): Closing price $55.18

The French integrated oil and gas group Total SA announced Wednesday that it will close a loss-generating steam-cracker in Carling, Eastern France, eliminating 210 jobs through attrition. The steam-cracker, which refines crude oil into chemical components through which to make plastics, is to be shut down in the second half of 2015, as part of a reshuffling of the industrial site, according to a company statement. Total also said that it will invest $211 million in the Carling site in an endeavor to “adapt the petrochemical platform” and “restore its competitiveness.”

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Royal Dutch Shell (NYSE:RDSA): Closing price $64.79

Shell’s upstream International Director Andy Brown says that the company is committed to a long-term future in the North Sea. As he delivered an upbeat assessment of Shell’s future, Brown said that Shell’s $2-billion annual spending in the region over the next three years is proof of its continued commitment. The majority of that expenditure will be used by the firm’s sizable non-operated positions in large new projects like Clair Ridge and Quad 204, both of which are operated by BP.

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Inergy Midstream, L.P. (NYSE:NRGM): Closing price $23.31

Inergy Midsteam and Enserco Midstream, LLC  announced Wednesday that they have created a joint venture so as to own and operate a crude oil rail terminal located in Douglas County, Wyoming. InergyMidstream’s subsidiary, Inergy Crude Logistics, LLC, and Enserco Midstream’s subsidiary, Enserco Powder River Basin, LLC, each own an approximate 50-percent interest in Powder River Basin Industrial Complex, LLC, which owns the Douglas Facility. The latter was placed into manifest service in August, and unit train service should begin during the first quarter of next year.

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