4 Energy Stock Stories to Spark Investment Chatter

Vale (NYSE:VALE): Closing price $16.33

On Tuesday, Vale restarted coking coal shipments from its operations in Moatize, Mozambique, subsequent to a two-day stoppage because of the blockading of the Linha do Sena Railway by brickmakers earlier displaced by the Brazilian mining major. In a company statement, Vale said that about 60 brickmakers, a part of a larger group that Vale relocated from its mining concession starting in 2010, had been protesting on the railway. The brickmakers were asking for additional compensation for lost production for as much as two family generations. The firm did not report details as to the quantity of coal that was not shipped due to the stoppage.

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VALE

Exxon Mobil Corporation (NYSE:XOM): Closing price $91.11

The oil companies OGX and Exxon Mobil Corp secured Brazilian deepwater oil and natural gas exploration blocks in a frontier region of the Potiguar Basin at an auction on Tuesday. OGX will pay 20 million reais for the rights to the PN-M-475 block and the OGX and Exxon Mobil consortium agreed to  81.9 million reais for PN-M-762. The blocks are located southeast of the city of Fortaleza in the northeast.

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XOM

Royal Dutch Shell (NYSE:RDSA): Closing price $69.75

Authorities of the European Union have raided offices of the oil majors Shell, BP (NYSE:BP) and Statoil in an inquiry of suspected manipulation of oil prices, which is one of the largest cross-border actions since the Libor rigging scandal. Officials have intensified their scrutiny of financial benchmarks worldwide since levying large fines on some of the biggest banks for rigging interest rate benchmarks. On Tuesday, the European Commission revealed that it was investigating major oil firms in regards to suspected anti-competitive arrangements linked with submission of prices to leading oil pricing agency Platts, a division of McGraw Hill Group.

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RDSA

Statoil (NYSE:STO): Closing price $23.83

The Norwegian Competition Authority (Konkurransetilsynetoffice) visited Statoil’s office in Stavanger Tuesday, subject to an inspection by the EFTA Surveillance Authority. The inspection is being conducted on the request of the European Commission. The authorities suspect participation by several firms, including Statoil, in anti-competitive arrangements and/or concerted practices contrary to Article 53 of the EEA Agreement. The suspected violations are connected to the Platts’ Market-On-Close price assessment process, which is used to post prices especially for crude oil, refined oil products and biofuels, and could have going  on since 2002.

 

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STO

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