4 Energy Stock Stories Making a Buzz
Chevron Corp. (NYSE:CVX): Closing price $119.51
Chevron’s Canada unit president, Jeff Lehrmann, says that the energy major could sanction its Kitimat LNG plant in the next 12 to 18 months, but it first needs to nail down sales contracts with buyers and fiscal terms with the government in British Columbia. Ten projects to cool and condense gas into a liquid fuel have been proposed for the West Coast of Canada; producers like Royal Dutch Shell, Malaysia’s Petronas, and ExxonMobil Corp. want to exploit the gulf between low North American gas prices and the premiums paid for the heating fuel in Asia. The British Columbia government has endeavored to reassure investors after upsetting the upstart export industry with plans for a tax that could generate a minimum of $100 billion over 30 years.