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Oil Sheen Bad for Shell Stock

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Posted: Apr 12, 2012 7:51 PM by Michael Marsh
Updated: Apr 12, 2012 7:51 PM
Source: Associated Press

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Topics: oil sheen, Royal Dutch Shell, Gulf of Mexico, shares, European trading

Shares in Royal Dutch Shell fell more than 4 percent in European trading after the company reported a sheen of oil in the vicinity of two of its production platforms in the Gulf of Mexico. The company says the source is unknown and it has no indication it was from wells in its Mars or Ursa projects about 130 miles south of New Orleans. Shares dropped to 24.82 euros in Amsterdam. Shell says it sent a response ship to the area immediately and was asking for additional monitoring for the sheen, which is described as about a mile long and ten miles wide, which is dissipating.

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