Energy stocks turned negative this afternoon with the NYSE
Energy Sector Index sinking nearly 1.0% shortly before the closing
bell while shares of energy companies in the S&P 500 are down
about 0.7% as a group. July crude oil fell 21 cents to $98.25 per
barrel while July natural gas rose 6 cents to $3.96 per 1 mln
In company news, Noble Energy Inc. (
) is down 0.1% at $60.62, giving back a 1.5% rise earlier in the
session that followed the Cyprus government approving a preliminary
deal with the company and two other firms to development of a
liquified natural gas terminal to tap into the eastern
Mediterranean's gas discoveries.
The decision was announced by a deputy government spokesman who
did not provide any additional details. The other firms
participating in the LNG project - expected to begin exports by
2020 - are Delek Drilling and Avner Oil Exploration.
In other sector news,
(+) NRGY, Completes pro rata distribution of 56.4 mln units of
its Inergy Midstream (
) affiliate, with each NRGY unitholder receiving 0.432052 NRGM
units for each NRGY unit they now own.
(+) IOC, Proxy advisory firm Institutional Shareholder Services
reverses previous recommendation, now telling shareholder they
should support a management proposal to adopt new by-laws regarding
the company's advanced notice provisions.
Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.