Lower oil prices continued to weigh heavily on Wall St. Stocks closed modestly lower Friday as oil titans Exxon Mobil and Chevron led a slump in energy stocks, which Benchmark U.S. crude oil prices fell $1.40 to close at $47.12 a barrel. The Dow Jones industrial average lost 56.12 points, or 0.3 per cent, to 17,689.86. […]
Oil prices drop again, Exxon and Chevron slump on earnings Read More »
TransCanada decision to relocate proposed terminal in Cacouna, Que costly CALGARY – It’s looking like the Energy East project is going to get more expensive. TransCanada Corp. (TSX:TRP), the company planning to build the controversial cross-Canada oil pipeline, had been estimating it would cost $12 billion. But on Friday, it warned that figure is expected to grow. On a
Energy East pipeline will cost more than $12B: TransCanada Read More »
New Mexico gains 3, Louisiana gains 2, Texas, Wyoming, North Dakota, Ohio gain 1 Oilfield services company Baker Hughes Inc.’s latest rig count says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 874. Houston-based Baker Hughes said Friday 664 rigs were seeking oil and
Rig count: US down by two to 874 Read More »
Senate energy bill gets thumbs up from oil and gas groups A Senate energy committee approved legislation Thursday that would lift the 40-year-old ban on crude oil exports and open more areas of the Arctic, Gulf of Mexico and the Atlantic Ocean to oil and gas exploration. Republican Lisa Murkowski of Alaska, chairman of the panel, championed the bill, which passed by a
Senate energy bill passes committee, could lift crude oil export ban Read More »
Advanced nuclear reactor innovations could be key source of American clean energy American Department of Energy is funding a series of investments in advanced nuclear reactor concepts it hopes will be demonstrated 20 years from now. The Energy Department released a funding opportunity announcement Friday. Acting Assistant Secretary for Nuclear Energy John Kotek says the funding
Advanced nuclear reactor concepts get new funding from American govt Read More »
On an annual basis, coal has lost share to natural gas and renewable energy Natural gas had its month in sun, but after sprinting past coal to produce the most American electricity in April, coal reasserted itself in May, according to the US Energy Information Administration. In April, traditionally the month when total electricity demand
Electricity generation: American coal #1 again in May Read More »
Exxon refining, chemical operations performed well NEW YORK – Exxon Mobil Corp. profit dropped by half in the second quarter on sharply lower oil and gas prices around the world, but the company’s oil and gas production, which has been generally declining in recent years, surged. The company posted net income for the second quarter of $4.19 billion, down 52
Exxon profit falls by half to $4.2B, but oil production soars Read More »
Fate of Canadian pipeline proposals will determine if there is even oil sands crude to ship in Keystone XL The Keystone XL pipeline is in the news. Again. Why doesn’t TransCanada just abandon the 830,000 barrel a day project and move on? Because the Canadian oil sands is at a crossroads, that’s why. The Canadian government
Keystone XL: The argument for delaying approval another 5 years Read More »
Venoco says its nearby oil platform is shut down, not source of oil slick Beachgoers were warned to avoid tar balls on Thursday along the Santa Barbara shoreline as the Coast Guard sought the source of a mysterious miles-long oil slick that floated up 1,000 yards from the sand. Authorities said the three-mile sheen was
Oil slick off California coast likely due to natural seepage Read More »
Short-term pain, but Shell CEO sees oil prices recovering to $70 to $90 in medium-term Royal Dutch Shell announced deep cuts to jobs and investment on Thursday as the global energy giant prepares for a prolonged period of low oil prices. Shell expects to eliminate 6,500 staff and contractor positions this year as it seeks to reduce
Oil prices to blame as Shell slashes jobs, investment Read More »
