Energy Biz Roundup: Shell Loves Mozambique, VOC Warns Of Shrinking Output
Royal Dutch Shell (NYSE:RDSA)(NYSE:RDSB) would still like to enter Mozambique even though it missed an opportunity earlier in 2012 that would have allowed it access to the giant gas reserves of East Africa, says its exploration chief. Gas discoveries in the area have caused jostling between firms like Anadarko Petroleum Corporation (NYSE:APC) and Eni (NYSE:E), which have both made important finds.
Shares of VOC Energy Trust (NYSE:VOC) plummeted after word of a quarterly distribution. The firm warns of shrinking production volumes at its Kurten Woodbine properties because of an abandoned horizontal well, saying that “Future distributions to the Trust from the net profits interest will be impacted by this event.”
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