Archive for September, 2015
Freeport-McMoRan announces Gulf of Mexico oil find
Freeport-McMoRan says potential for several additional opportunities in area Houston-based producer Freeport-McMoRan Oil & Gas has made a significant Gulf of Mexico find, which it hopes could produce as much as 30,000 b/d. The company said in a press release that the initial production from this well, which will be tied back to existing facilities, is […]
Chesapeake Energy lays off 740 employees after $4B loss in August
Chesapeake Energy layoffs represent 15 per cent of its workforce OKLAHOMA CITY – Citing low energy prices, Chesapeake Energy Corp. said Tuesday it was laying off 740 employees, most of them at its Oklahoma City headquarters, after the company reported a second-quarter loss of more than $4 billion in August. The company said the layoffs represent about […]
Jeb Bush releases tepid energy platform, ignores the obvious bold strategy
Jeb Bush had the chance to propose a North American Energy Pact, but lacked the nerve for a daring move If Republican voters are wondering why the Jeb Bush campaign is languishing, they need look no further than his new energy platform. In a speech Tuesday at Rice Energy Inc. in Canonsburg, Penn., the overly cautious […]
Small scale solar power business now part of big utilities’ plan
Solar power pricey up front, some utilities offer leasing plans ALBUQUERQUE, N.M. – Traditional power companies are getting into small-scale solar energy and competing for space on your rooftop. The emerging competition comes as utilities and smaller solar installers fight over the future of the U.S. energy system. While the market for residential solar power remains a […]
Converted carbon emissions contest: $20M up for grabs in XPrize competition
Converted carbon emissions contest funded by NRG Energy, Canada’s Oil Sands Innovation Alliance CALGARY – Asking the public to “reimagine carbon,” a group of oilsands companies is helping to launch a $20-million XPrize competition to find innovative ways to address carbon emissions. Dan Wicklum, chief executive of Canada’s Oil Sands Innovation Alliance, said the goal is to […]
Ending US oil export ban, easing natural gas barriers, key to economic growth: Bush
US oil export ban created in 1970’s DES MOINES, Iowa – Republican presidential candidate Jeb Bush says ending the ban on U.S. oil exports and easing restrictions on natural gas exports will unleash the nation’s economy. The former Florida governor is calling for ending the 1970s-era law prohibiting the U.S. from exporting crude oil at a time […]
Shell Arctic offshore drilling cancellation could be devastating for Alaska
Shell Arctic offshore drilling plan pulled due to poor results ANCHORAGE, Alaska – Royal Dutch Shell’s dry hole in the Chukchi Sea may be disappointing to shareholders, but it’s potentially devastating to Alaska. The company’s decision to end oil exploration in offshore Alaska for the foreseeable future means the state must find another source to fill the […]
Asia developing natural gas regional trading hubs to improve market performance
Several Asian countries – including Japan, China, Singapore – developing regional trading hubs to increase price formation transparency Asia is developing regional trading hubs so that prices are determined by market forces rather than contracts indexed to crude oil or petroleum product prices. The declines in crude oil prices between August 2014 and January 2015 had a […]
Commodity markets tank on fears over China slowdown
November contract for benchmark crude oil was down $1.27 at US$44.43/b as commodity prices dip North American stock markets closed sharply in the red Monday as more evidence of a continuing slowdown in China, the world’s second-largest economy, delivered a blow to commodity prices. In Toronto, the S&P/TSX index plunged 373.99 points or 2.8 per […]
McCaul, Craddick: Lift the oil export ban
Just a few years ago, many Americans felt hopeless that the U.S. would ever reduce its dependence on foreign energy. Relying on suppliers from unstable nations that don’t share our interests, consumers felt the effect of pricing volatility, violence and political instability hitting them at the gas pump with prices reaching $4.00 per gallon. For […]
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