Buying Time for These Oil Stocks ($RDS.A $XOM)
Energy investors are always buying stock. However, they are buying some stocks more than others. What stocks are they ready to jump in to now? There are a couple big names you will proably recognize. Incomehunter gives us the run down.
Royal Dutch Shell (RDS.A) recently announced that its Scotford refinery in Alberta will soon be restarted. Although necessary flaring will have to accompany the main work, this is a great step forward for the company as the refinery can process about 98,000 barrels a day. With the refinery back up and running, Shell will be able to increase its overall production by quite a large margin.
Exxon Mobil (XOM) is nearing the completion of its retail conversion. This refers to the company’s aim to “convert its company-owned convenience stores to a branded wholesale business”. At present, the majority of Exxon Mobil’s retail sites in New Jersey have been successfully sold. The company recently announced its final move in the strategy to turn its retail stores in wholesale businesses. This move involves divesting 236 company-owned gas stations and convenience stores in New Jersey.
These oil stocks are working hard and investors are buying. Take note! These may be good buying options for you in the near future.
Quotes taken from report by Incomehunter, Read the entire article here.
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