Sector Update: Energy

By Staff,

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Energy issues are slightly lower pre-market as oil prices fall on European debt worries. A committee of the U.S. National Academy of Engineering and National Research Council found that BP plc ( BP ) had ignored potential risks at its Gulf of Mexico rig and lacked operating discipline. China National Offshore Oil Corp said it plans to expand overseas oil and gas exploration in 2011. Brazil's Petroleo Brasileiro SA ( PBR ), better known as Petrobras, may sell off foreign refining assets as it looks to focus on its offshore crude reserves, according to local daily Valor Economico. CVR Energy ( CVR ) said shareholders will sell 15 million shares in a secondary public offering. Brent crude is down 0.2% at $84.54 a barrel on NYMEX.

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
Referenced Stocks: BP , CVR , PBR

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