Sector Update: Energy Up, UAE Seen Looking at Shell as Shah Gas Project Partner

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Dow Jones U.S. Oil & Gas Index: 463.05 Tuesday regular session close

NYMEX Benchmark Crude: -0.26 (-0.33%) to 77.78

Top Energy Stocks

XOM: +0.29%

CVX: +0.36%

SLB: +0.98%

OXY: -0.18%

COP: 0.00%

Energy issues are up even though oil prices continue to slide as crude inventories in the United States rise. The United Arab Emirates is looking to Royal Dutch Shell ( RSDA ) to be its partner for a $10 billion Shah gas project after ConocoPhillips ( COP ) withdrew, according to Reuters. Mitsui & Co ( MITSY )executives faced nearly twice as many shareholders as it usually does at its annual general meeting as questions about Mitsui's relation with BP ( BP ) regarding the Gulf of Mexico spill drew much attention. President Masami Iijima said that he still could not say how Mitsui will be affected by the oil spill as an indirect stakeholder in the leaking oil field.



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This article appears in: Investing , Commodities

Referenced Stocks: BP , COP , MITSY , RSDA

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