4 Energy Stock Stories To Fuel Investment Chatter

Total (NYSE:TOT): Closing Price $47.95

State-owned Qatar Petroleum has formed a joint venture with a consortium led by the French oil major Total through which to construct a $1.5-billion condensate refinery in Ras Laffan Industrial City. Pursuant to the agreement, Qatar Petroleum will hold 84 percent of the Lafan Refinery 2, or LR2, joint venture, Total 10 percent, while Japan’s Idemitsu Kosan, Cosmo Oil, Marubeni Corp. and Mitsui will own the remaining interest, according to Qatar’s statement. Construction of the refinery, which will be operated by Qatargas, should be finished by the second half of 2016, with a total capacity of 146,000 barrels per day, equaling Laffan Refinery 1, which began operations in 2009.

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TOT

Exxon Mobil Corporation (NYSE:XOM): Closing Price $89.30

The Athens-based Optima Shipbrokers Ltd. said in an e-mailed report Monday that Exxon Mobil booked two tankers to transport oil to the United States Gulf Coast through the Suez Canal in May, at what could be 2013’s lowest rates. The very large crude carriers can each haul 2 million barrels of oil, and should load in the Persian Gulf on May 7. The ships were chartered at the rates of 15.75 and 16 industry-standard Worldscale points, which would represent the lowest levels thus far in 2013 for the route, said figures compiled by Bloomberg.

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XOM

Hess Corporation (NYSE:HES): Closing Price $68.20

Hess shares were upgraded by analysts at Barclays to Overweight, noting that the stock offers a good entry point after the recent backtracking in energy equities. In recent months Hess and the hedge fund Elliott Management have been battling, with both sides placing their slate of board candidates forward for the May annual meeting. Hess has become a pure exploration and production play, and if the restructuring endeavors work out Hess will continue to outperform other energy stocks and the broader market indexes, Barclays added.

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HES

BP (NYSE:BP): Closing Price $41.63

Florida Attorney General Pam Bondi announced that she will file a lawsuit Saturday against BP and Halliburton which seeks economic damages resulting from the oil rig explosion that fouled the Gulf of Mexico and killed 11 workers in 2010. The state’s announcement came concurrently with the state of Mississippi and the city of Tampa launching separate legal actions against BP and its partners.  Bondi said in a news release that “The state of Florida suffered considerable economic losses as a result of the Deepwater Horizon oil spill, and BP and Halliburton must be held accountable,” but state officials did not reveal the amount of money in damages it is seeking nor would they release a draft or copy of its lawsuit, citing public record exemptions, according to Bondi spokeswoman Jennifer Meale.

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BP

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