Sector Update: Energy Up, BP Expected to Complete Plugging Well By Weekend


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Dow Jones U.S. Oil & Gas Index: 465.60 Thursday regular session close

NYMEX Benchmark Crude: +0.07 (+0.09%) to 74.64

Top Energy Stocks

XOM: +0.07%

CVX: +0.13%

SLB: +0.76%

OXY: -0.24%

COP: -0.23%

Energy issues are mostly higher before the bell, as oil prices gain ground on the back of stronger equity prices worldwide. BP plc ( BP ) is expected to close off its ruptured well in the Gulf of Mexico this weekend by cementing the space between the pipe and walls. BHP Billiton Ltd ( BHP ) said petroleum output will likely be flat for the first time in four years due to the offshore drilling ban in the Gulf of Mexico following the BP disaster. Tesoro Corp ( TSO ) said its refinery in Anacortes, Washington, should be back in operation by mid-October. The refinery was closed April 2 following an explosion which led to seven deaths. Rosneft OAO (ROSN) is discussing the possibility of doing projects in Iraq, according to the Russian energy giant's head Eduard Khudainatov. Massey Energy Co ( MEE ) is down as it expects an operating loss for the third quarter and sees operating results for the fiscal year to be at the low end of its projections.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities
More Headlines for: BHP , BP , MEE , TSO

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