Archive for March, 2016

Italian economic development minister resigns amid oil probe

Italian economic development minister resigns amid oil probe

Italian economic development minister denies wrongdoing MILAN _ Italy’s economic development minister has resigned amid allegations that she passed along confidential information to her boyfriend that helped his business interests. Federica Guidi announced her resignation Thursday in a letter to Premier Matteo Renzi that was posted on the ministry’s website. Guidi denied wrongdoing but said […]

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Arctic renewable energy push orchestrated by six US, Canadian groups

Arctic renewable energy push orchestrated by six US, Canadian groups

Arctic renewable energy projects in three communities: Groups’ goal It ain’t New York but when it comes to renewable energy and the Canadian Arctic, if they can make it there, they’ll make it anywhere. Six organizations have banded together to help remote Arctic communities reduce diesel power generation and expand large-scale renewable energy. “If you can […]

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‘Vast corruption scandal’ in oil business probed by Monaco, UK

‘Vast corruption scandal’ in oil business probed by Monaco, UK

Oil business investigation allegedly turned up bribes to Middle Eastern oil chiefs PARIS _ Monaco’s government says it is helping British authorities investigate a “vast corruption scandal” implicating an unspecified number of international oil companies, the tiny European principality said in a statement released late Thursday. The statement said several executives of the Monaco-based company […]

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Shell role in purchase of Nigerian oil block under investigation by Italian officials

Shell role in purchase of Nigerian oil block under investigation by Italian officials

Shell, Eni bought OPL 245 in 2011 for over $1 billion LAGOS, Nigeria _ Royal Dutch Shell says Italian officials are investigating its role in the purchase of an offshore oil block in Nigeria for more than $1 billion. Shell and the Italian oil firm Eni bought the block known as OPL 245 in 2011. […]

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Fuelling the search for a more environmentally friendly fracking

Fuelling the search for a more environmentally friendly fracking

University of Alberta team search for best fracking practices in Alberta By Jennifer Pascoe on March 30, 2016 for the University of Alberta News Hydraulic fracturing has become a widely used resource extraction technology in today’s world. Designed to increase the access to our petroleum reserves, this method has come under scrutiny in the recent past for its […]

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Oil prices rise slightly, tranquil start to last trading day of stormy quarter

Oil prices rise slightly, tranquil start to last trading day of stormy quarter

Oil prices, energy stocks rise NEW YORK _ Stocks are slightly higher Thursday afternoon, a tranquil start to the last trading day of what has been a stormy first quarter. Health care stocks, which have suffered this year, are inching higher. The gains are adding to a strong March that wiped away steep losses from […]

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Sanchez Production announces $137 million loss in 2015

Sanchez Production announces $137 million loss in 2015

Sanchez recorded net loss of $44.5 million in Q4 2015, net loss of $137 million for full year 2015 HOUSTON, Texas – Sanchez Production Partners LP today reported fourth quarter and full year 2015 results. “Despite a number of significant headwinds, we executed a plan to transform SPP in 2015 and exited the year with a well-positioned master […]

Affordable Model 3 is Tesla’s biggest test yet

Affordable Model 3 is Tesla’s biggest test yet

Model 3 starting price $35,000 DETROIT _ The promise of an affordable electric car from Tesla Motors had hundreds of people lining up to reserve one. Tesla planned to unveil its Model 3 Thursday night at its Los Angeles design studio. It doesn’t go on sale until late 2017, but potential buyers could reserve one […]

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Hydrogen fuelled cars back on the horizon as technology improves, costs drop

Hydrogen fuelled cars back on the horizon as technology improves, costs drop

Numerous advancements have made hydrogen fuelled cell cars ready for commercial development CALGARY _ Automakers and fuel cell developers say the hydrogen-powered age is almost here, again. Hyundai now has a hydrogen-fuelled vehicle available in Canada, and Toyota wants to introduce theirs here too, while Canadian fuel cell developers that include Ballard Power Systems and Hydrogenics have […]

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12 countries agree to oil cap meeting next month: Qatar oil minister

12 countries agree to oil cap meeting next month: Qatar oil minister

Oil cap meeting attended by OPEC and non-OPEC producers DOHA, Qatar _ Qatar’s oil minister says 12 countries have agreed so far to participate in a meeting it’s hosting next month to discuss a freeze in oil output levels. Qatar announced earlier this month it would be the venue for between OPEC and non-OPEC producers […]

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