4 Energy Stock Stories to Drive Midweek Investment Chatter

Royal Dutch Shell (NYSE:RDSA): Closing price $68.35

Three industry sources said Wednesday that Shell will sell a minimum four more oil blocks in Nigeria, as part of its latest sale in Africa’s top oil exporter. The blocks include Oil Mining Licenses 13 and 16 onshore the Niger Delta, and OML 71 and 72, which lie in shallow water, said the sources, according to Reuters. A spokesperson for Shell would not comment. OML 13 and 16 are located in the Ogoniland region, where Shell has seen long-running disputes with local communities, several oil spills, and a considerable amount of pipeline sabotage and theft.

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Phillips 66 (NYSE:PSX): Closing price $61.50

Phillips 66 executives told analysts on Wednesday that the company has increased its runs of light crude imports at its New Jersey refinery. The cost of North Dakota Bakken crude has increased in recent weeks. An executive vice president for commercial, marketing, transportation, and business development observed during the company’s second quarter earnings call: “We have reduced our take on the Bakken to the East Coast, as we’ve adjusted our crude slates, and are replacing that with more competitive barrels from imports.”

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Hess Corp. (NYSE:HES): Closing price $74.46

Hess has posted a larger-than-expected quarterly profit, thanks to higher oil and gas prices, and said that it is searching out partners to explore two fields in Kurdistan and a block offshore Ghana. The company wants to divest its retail and trading units in order to concentrate on exploration and production, and also said that it anticipates higher output from North Dakota’s Bakken shale field in the second half.

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BHP Billiton Ltd. (NYSE:BHP): Closing price $62.73

Melbourne-based BHP has decided not to sell a struggling coal mining operation in eastern Australia, one of several assets in the country that mining firms have been trying to offload during a slump in coal prices. In February, the firm launched a review of its jointly-owned Gregory Crinum operation, several months after a loss-making mine was shut. On Wednesday, a spokeswoman for the company said that it considers that retaining the asset offered the optimal situation for shareholders.

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