4 Energy Stock Stories Sparking Tuesday Investment Chatter

Chevron Corp. (NYSE:CVX): Closing price $122.51

On Tuesday, Chevron Phillips Chemical Co. said that it has obtained regulatory permits for three new Texas output units that it is planning to construct. The firm, which is based in The Woodlands, wants to establish a 1.5 million metric tons-per-year ethane cracker at its Cedar Bayou facility in Baytown, and two new polyethylene facilities, with each having an annual capacity of 500,000 metric tons, on a site close by its Sweeny facility in Old Ocean, Texas. The company has received air permits from the Texas Commission on Environmental Quality for the ethane cracker and polyethylene units, having received a greenhouse gas permit from the Environmental Protection Agency for the cracker earlier in 2013.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

CVX-20130813

Enbridge Inc. (NYSE:ENB): Closing price $42.35

Fresh scrutiny is being focused upon crude oil transported by railroad from North Dakota. Regulators are worried that the cargo could cause environmental and safety hazards, which analysts say could increase costs. The Federal Railroad Administration is looking into whether chemicals employed in hydraulic fracturing are corroding rail tank cars and thus increasing risks. Meanwhile, three pipeline firms including, Enbridge Inc., warned regulators that North Dakota oil with excess hydrogen sulfide, which is toxic and flammable, was reaching terminals and putting workers in danger.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

ENB-20130813

Eni SpA (NYSE:E): Closing price $45.85

The Italian energy major Eni SpA said on Tuesday that it will pay Mozambique $400 million in taxes for proceeds obtained from the sale of 28.57 percent of Eni East Africa’s shares to the China National Petroleum Corporation. The statement, which was made while Eni’s Chief Executive Paolo Scaroni was in Mozambique to meet with President Armando Guebuza, said that during the meeting the two leaders also discussed several initiatives, among which included the firm’s backing of Mozambique’s infrastructure development, such as the reconstruction of a coastal road between Palma and Pemba.

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

E-20130813

BP (NYSE:BP): Closing price $41.38

On Monday, BP sued the United States government regarding its decision to disallow the British oil major from signing new federal contracts to provide fuel and other services after its agreement to plead guilty to manslaughter and obstruction charges linked with the 2010 Gulf of Mexico oil spill disaster. BP said in court papers filed in United States District Court in Houston that the Environmental Protection Agency’s decision to suspend the company from such contracts and its continued enforcement of that order is arbitrary, capricious, and constitutes “an abuse of discretion.”

Are these stocks a buy or sell? Let us help you decide. Check out our Stock Picker Newsletter now.

BP-20130813

Don’t Miss: Petrobras: Nearing Goal of Becoming a Energy Major?