4 Energy Stock Stories Making Weekend Waves
Royal Dutch Shell (NYSE:RDSA): Closing price $64.42
Nigeria’s military now says that a leak found on a pipeline operated by Royal Dutch Shell’s Nigerian division was caused by corrosion. Oil spills are common in Nigeria’s Niger Delta and have caused sizable environmental damage, but they are most typicallly blamed on thieves who tap into pipelines to siphon off oil. Through its website on Niger Delta oil spills, Shell says that it remains committed to cleaning up spills, no matter what the cause, but where spills are found to be its fault, financial penalties are potentially higher. Shell has reported at least 105 oil spills in the Niger Delta so far in 2013.
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