4 Energy Stock Stories Sparking Important Headlines

BP (NYSE:BP): Closing price $41.84

As it implements an aggressive campaign to fight back what might be billions of dollars in settlement payouts to businesses, because of its 2010 oil spill in the Gulf of Mexico, BP bought a full-page advertisement in three of the country’s top newspapers on Wednesday. The ad appeared in the New York Times, The Wall Street Journal, and The Washington Post, in which BP accuses “trial lawyers and some politicians” of encouraging Gulf Coast firms to submit thousands of claims for inflated or non-existent losses. The ad said, “Whatever you think about BP, we can all agree that it’s wrong for anyone to take money they don’t deserve. And it’s unfair to everyone in the Gulf — commercial fishermen, restaurant and hotel owners, and all the other hard-working people who’ve filed legitimate claims for real losses.”

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BP

Total (NYSE:TOT): Closing price $47.73

The French energy major Total is thinking about bidding for rights to explore for shale gas in Great Britain and is “frustrated” by a dearth of information on a licensing round to be held in 2014. It is also thought that the firm has held talks with a number of companies in regards to purchasing a stake in their existing exploration blocks in the United Kingdom. The fact that a top energy firm is obviously keen to join the search for UK shale is the most recent indication of the nascent industry’s increasing momentum, following the 160-million-pound deal for British Gas owner Centrica to buy a 25-percent interest in Cuadrilla’s Bowland shale licence area.

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TOT

Hess Corporation (NYSE:HES): Closing price $65.71

Knowledgeable sources say that Hess commenced the sale of its oil-terminal network and is trying to make $1 billion on the asset. The sources continued that Hess requested that suitors submit expressions of interest by July 2 for the 19 terminals. The asset is said to bring roughly $100 million in annual earnings before interest, taxes, depreciation and amortization.

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HES

SunCoke Energy (NYSE:SXC): Closing price $14.20

On Wednesday, SunCoke announced an accord with the United States Environmental Protection Agency (Region V), the Department of Justice, and the states of Illinois and Ohio. The settlement resolves claims of excess venting from bypass vent stacks beyond permit limits at the company’s Haverhill facility in Franklin Furnace, Ohio and its Granite City facility in Granite City, Illinois. The settlement requires SunCoke to develop and implement an innovative system that will be the optimal emissions control technology for coke plants in the United States.

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SXC

Don’t Miss: Here’s Why BP Wants Your Sympathy.

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