Sector Update: Energy

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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.



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This article appears in: Investing , Commodities

Referenced Stocks: BP , CVR , PBR

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