Energy Sector Update for 01/16/2019: EPD, EQNR, PBR, XOM, CVX, COP, SLB, OXY

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Top Energy Stocks:

XOM: Flat

CVX: -0.55%

COP: Flat

SLB: +0.31%

OXY: Flat

Energy stocks were mostly flat in Wednesday's pre-bell trade. West Texas Intermediate crude oil for February delivery was down by $0.23 to $51.88 per barrel at the New York Mercantile Exchange. The global benchmark Brent crude March contract lost $0.01 to $60.63 per barrel and February natural gas futures were 18 cents higher at $3.68 per 1 million BTU.

In other sector news:

(+) Enterprise Products Partners ( EPD ) was over 2% higher after its board has approved a quarterly distribution of $0.435 per common unit, a 0.6% increase from the third quarter distribution of $0.4325 per unit and a 2.4% increase over the distribution approved in the fourth quarter of 2017.

(-) Equinor ( EQNR ) was down more than 1% after saying it has discovered gas and condensate at the Norwegian Sea Ragnfrid North exploration well, which has estimated recoverable resources of 6 to 25 million barrels of oil equivalent.

(-) Petrobras ( PBR ) was over 1% lower as it said it produced 2.5 million barrels of oil equivalent per day (boe/d) in 2018 at its Brazil operations, an increase from the 2.2 million boe/d recorded in 2017.

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 , Energy
Referenced Symbols: EPD , EQNR , PBR , XOM , CVX

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