4 Energy Stock Stories Igniting Tuesday Chatter

| + More Articles
  • Like on Facebook
  • Share on Google+
  • Share on LinkedIn

Chevron Corporation (NYSE:CVX): Closing price $121.52

The American oil giant said Tuesday that it is divesting five Nigerian shallow-water oil blocks, making Chevron the most recent oil major wishing to dispose of assets in Africa’s biggest oil producing country. In recent years, Royal Dutch Shell, Eni, and Total have sold off a number of Nigerian onshore blocks, while ConocoPhillips  is selling its Nigerian operations to Oando Energy for around $1.79 billion. Nigeria wants more direct ownership of its oil and gas resources, either through the state oil company, or local firms, igniting fears among foreign oil majors that they may lose smaller assets for nothing if they don’t sell now, according to industry experts.

Are these stocks a buy or sell? Let us help you decide. CVX

More Articles About:

To contact the reporter on this story: staff.writers@wallstcheatsheet.com To contact the editor responsible for this story: editors@wallstcheatsheet.com

Yahoo Finance, Harvard Business Review, Market Watch, The Wall St. Journal, Financial Times, CNN Money, Fox Business