Big shakeup at Russia’s huge Shtokman gas field, as Royal Dutch Shell (NYSE:RDS-A) is brought into the development consortium, replacing Total (NYSE:TOT), but keeping Statoil (NYSE:STO). President Putin’s approved plan for the group flies in the face of the previous optimism exhibited by Total’s Christophe de Margerie.
Patriot Coal (NYSE:PCX) shares moved notably down on word that the firm will be replaced in the S&P MidCap 400 index by Alexander & Baldwin (NYSE:ALEX). The former is ranked at #400 in the MidCap 400, and was said to be “no longer representative of the midcap market space.”
Featured Reading: How Much Longer Can the Fed Jawbone Markets?
Goldman Sachs claims that CVR Energy (NYSE:CVI) owes it $18.5 million for work done earlier in 2012, but they must first deal with Carl Icahn, who isn’t budging, remarking that “These guys were hired to keep me from buying the company at $30 and they failed. But they are now demanding $18 million for having done nothing.”
Kinder Morgan Partners (NYSE:KMP) reported that it’s limiting shippers who use its overbooked Trans Mountain oil pipeline system between Alberta and the Pacific coast, to only 27 percent of their previously expected volumes in July. The traffic jam is due to additional shippers who want to move oil through Vancouver, whence it can be shipped to Asian markets which offer more accretive returns than do the traditional markets such as the U.S. Midwest.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.