4 Energy Stock Stories Making News On Friday

Exxon Mobil Corporation (NYSE:XOM): Closing price $90.35

Industry sources say that ExxonMobil has taken a long-term charter on the United States-flagged American Phoenix oil tanker at a near-record rate of about $100,000 per day, which exhibits the lack of vessels available to transport oil and refined products between American ports. It is thought that the 339,000-barrel tanker, which was re-leased by Koch Shipping and Supply, might have been the sole vessel of around three dozen so-called Jones Act tankers available for lease, with traders having taken the others so as to help move the burgeoning production from the Eagle Ford shale to Gulf Coast refiners.

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XOM

Arch Coal  (NYSE: ACI): Closing price $3.78

In order to unlock shareholder value, the coal miner announced Friday it is divesting its non-core thermal coal assets in Utah to the privately-held Bowie, a coal firm in Louisville. Arch Coal reported that it is selling its Canyon Fuel Company, along with roughly 105 million tons of bituminous coal reserves in Utah, at $435 million in cash. Canyon Fuel assets include the Sufco and Skyline longwall mines, and the Dugout Canyon continuous miner operation in Utah. The coal miner had forecast previously that Canyon Fuel would divest about 9 million tons of coal, mostly to regional power producers and domestic industrial facilities in Utah, Nevada, and California.

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ACI

ConocoPhillips (NYSE:COP): Closing price $60.50

Three knowledgeable sources said on Friday that the probable winner of ConocoPhillips’ interest in Kazakhstan’s Kashagan field is a Chinese company, likely China National Petroleum Corp., handing Beijing a stake in one of the largest oil finds of the last few decades. Such an acquisition would show a growing strategic partnership between Kazakhstan and China, as the former diverts more crude eastward towards China, and away from the saturated European markets. A sale of Kashagan equity to a Chinese entity would ensure that a substantial share of oil from the Caspian Sea field, which contains 12 billion barrels of reserves, will move over the shared eastern border between the two nations. One source said that the Chinese side would shell out between $5.3 and $5.4 billion for the interest in the North Caspian Operation Company, but the final price has not yet been settled.

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COP

Royal Dutch Shell (NYSE:RDSA): Closing price $63.80

Shell announces that on Friday it bought, for cancellation, 815,000 “B” shares at a price of 2183.18 pence per share. Subsequent to the cancellation of these shares, the remaining number of “A” shares of Royal Dutch Shell will be 3,821,611,712, and the remaining number of “B” shares of Royal Dutch Shell will stand at 2,543,165,671

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RDSA

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