4 Energy Stock Stories for a Thursday Spark
General Electric Company (NYSE:GE): Current price $22.47
The discovery of faulty bolts used in safety equipment has interrupted deep-water oil exploration from the Gulf of Mexico to Brazil. Such energy majors as Chevron Corporation and Royal Dutch Shell report that United States regulators have told them to suspend work on rigs that use GE devices that connect drilling tubes to safety gear and the sea floor. The United States Bureau of Safety and Environmental Enforcement says that the equipment must be retrieved so that defective bolts can be replaced.