4 Energy Stock Stories to Fuel Weekend Investment Excitement
Chevron Corp. (NYSE:CVX): Closing price $125.00
On Friday, the government of Ukraine moved a step closer to a new shale gas arrangement to move its goal of energy independence from Russia forward when a regional council confirmed its draft for an output-sharing agreement with Chevron. Deputies in the western Ivano-Frankivsk region had returned the draft to the government in August, demanding guarantees that the environment would be adequately guarded during exploration, and for a commitment to allocate 10 percent of any gas produced to local consumption.
Petrobras – Petróleo Brasileiro (NYSE:PBR): Closing price $15.95
According to an IHS analyst, Brazil’s nationalized oil company Petrobras could grow its productivity by up to 1.5 million barrels per day by easing up on its local rules. While Brazil is one of the most bountiful regions for new oil discoveries on the planet, it also has some of the most ambitious local-content requirements for new projects as it endeavors to develop its economy and industry alongside its emerging energy industry.
BHP Billiton Ltd. (NYSE:BHP): Closing price $37.39
Australia’s number-one oil producer has commenced work on its $1.5-billion Macedon natural gas project, says its partner Apache Corp. The development, which is Western Australia’s fourth domestic gas hub, started operations in August and has output capacity of 200 terajoules per day, according to Apache in an e-mailed statement. BHP owns 71.4 percent of Macedon while Apache owns the remainder.
TransCanada Corp. (NYSE:TRP): Closing price $44.44
This week marks the fifth anniversary of the application for approval of the Keystone XL pipeline to transport Canadian crude directly to the United States Gulf Coast. On Sept. 19, 2008, TransCanada Corp. filed with the United States State Department to ship an additional 500,000 barrels of oil per day through an expanded, then-unnamed pipeline in its existing Keystone system connecting Canada and the U.S. The company had formally reported its plans to file two months prior.