4 Energy Stock Stories Ready to Spark Investment Chatter
BP (NYSE:BP): Closing price $43.55
The United Kingdom’s energy ministry has approved BP and the Iranian Oil Company to restart output at the Rhum gas field in the North Sea. Production has been shut down at the field since November 2010, because of European Union sanctions imposed on Iranian firms. The Department of Energy and Climate Change announced that, “The government has taken the necessary steps to allow BP to restart production,” which it said was necessary to avert potential environmental damage and value destruction from the extended hiatus.