4 Energy Stock Stories To Kick Off the Weekend
Royal Dutch Shell (NYSE:RDSA): Closing price $64.17
Shell is thinking about a further reduction in its oil output in the eastern Niger Delta, at which decades of spills and oil thefts have negatively impacted the region’s environment, along with reputation of the company. Meanwhile, the government of Nigeria wants more of its oil and gas to be owned either by the state oil concern or local firms, generating fears among foreign oil majors that they could lose smaller assets for nothing if they don’t sell soon, according to industry experts. On Friday, Shell’s Nigerian subsidiary, the Shell Petroleum Development Co. of Nigeria Ltd., announced a strategic review of its business, saying that it would get advice from its international and Nigerian partners about the future of the 28 leases that produce approximately 750,000 barrels a day of oil.
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