4 Energy Stock Stories To Ignite Investment Chatter

Halliburton Company (NYSE: HAL) Closing price $42.63

Shares of both Halliburton and Baker Hughes Incorporated (NYSE: BHI) were downgraded Thursday by Morgan Stanley from Equalweight to Underweight, with  a $37 price target and a $46 target, respectively. The downgrades came as part of a more general view of the oil services, drilling, and equipment sector. Morgan Stanley lowered the sector to in-line from attractive because of fears concerning revenue growth, which it sees shrinking from 16 to 5 percent for the remainder of the decade.

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HAL

ExxonMobil Corporation (NYSE:XOM): Current price $92.09

Exxon Mobil announced that on Thursday it began ethylene output at a new chemical unit in Singapore, representing the conclusion of a multi-billion dollar expansion project at its Singapore petrochemical complex. With the launch of a 1 million ton-per-year steam cracker, the firm will step up production at other petrochemical units in the complex on Jurong Island during the next few weeks, according to an emailed statement. The expansion adds output of a minimum of 1.4 million tons per year of polymers and elastomers, which have already come into commercial operation. The complex is currently Exxon Mobil’s largest worldwide, and it will produce roughly 2.6 million tone per year of petrochemicals aimed at satisfying regional demand.

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XOM

Statoil (NYSE:STO): Closing price $22.85

Norway’s Statoil and its license partners will spend $1.26 billion to develop Oseberg Delta, which is a small field adjacent to the Oseberg oil and gas field in the North Sea, said the country’s oil ministry on Thursday. It is calculated that Oseberg Delta might contain 77 million barrels of oil equivalent, and output may be commenced in the fourth quarter of 2014, said the ministry, based upon Statoil’s development plan. The partners in the Oseberg field are Statoil, with an interest of 49.30 percent, Total with 14.70 percent, ConocoPhillips with 33.60 percent, and Norwegian state-owned firm Petoro with 33.60 percent.

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STO

Tesoro Corporation (NYSE:TSO): Closing price $61.33

The Environmental Protection Agency said Thursday that the refiner Tesoro Corporation has agreed to pay $1.1 million to settle claims that it did not comply with Clean Air Act requirements at four refineries. The EPA claimed that Tesoro failed to comply with record keeping, reporting, sampling, and testing requirements at facilities in Salt Lake City; Mandan, North Dakota; Anacortes, Washington; and Kenai, Alaska. The EPA assistant administrator for Enforcement and Compliance Assurance Cynthia Giles, commented that “EPA’s fuels regulations are vital safeguards that protect our nation’s air  quality. By taking  action against violations of these regulations, EPA is not only protecting  people’s health, but is also ensuring a level playing field for refiners that  play by the rules.”

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TSO

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