Archive for January, 2017
Total planning EV charging points at its French stations: CEO
Total looks to have charging points every 100 miles PARIS, Jan 31 (Reuters) – French oil and gas giant Total is planning a network of electric vehicle charging points at its petrol stations across France, the company’s Chief Executive Patrick Pouyanne said on Tuesday. “We plan to do it. We are thinking of how to […]
Oil prices rise on weak dollar, OPEC output cuts
Oil prices up over 1 per cent By Devika Krishna Kumar NEW YORK, Jan 31 (Reuters) – Oil prices rose more than 1 per cent on Tuesday after news that the world’s top producers cut production this month more than forecasters had expected and as the dollar sank. A Reuters survey showed that the Organization of […]
Imperial Oil profit boosted by asset-sale gain
Imperial Oil production dipped in Q4 CALGARY, Alberta, Jan 31 (Reuters) – Imperial Oil Ltd reported a sharp rise in fourth-quarter profit on Tuesday, helped by a nearly C$1 billion gain from the sale of its service stations. Calgary-based Imperial, majority-owned by Exxon Mobil Corp , sold its remaining company-owned Esso retail stations to five […]
US oil production rose 105,000 b/d in November: EIA
US oil production in Gulf of Mexico, Texas increases, decreases in North Dakota NEW YORK, Jan 31 (Reuters) – US oil production rose for the second consecutive month in November, according to a U.S. government report released Tuesday. Evidence of the growth in U.S. production comes as the oil market is weighing whether output cuts from major […]
Exxon boosts capital budget but takes $2 billion charge from XTO deal
Exxon posts better than expected Q4 profits By Ernest Scheyder HOUSTON, Jan 31 (Reuters) – Exxon Mobil Corp boosted its 2017 capital budget on Tuesday on a bet that oil prices have stabilized, but posted its lowest quarterly profit since 1999 as it took a $2 billion charge against the value of natural gas reserves from […]
Major US tight oil-producing states expected to drive production gains through 2018
In 2016, Permian production averaged 2.0 million b/d, a 5% increase from the level in 2015 In EIA’s Jan. Short-Term Energy Outlook, US crude oil production is forecast to increase from an average of 8.9 million b/d in 2016 to an average of 9.3 million b/d in 2018, primarily as a result of gains in the […]
Taking a closer look at Donald Trump’s blueprint for US energy
Keeping oil and gas growth pace, but spurring rebound in coal production could be challenging, regardless of policy President Trump wants to create federal government policy that powers a recovery in domestic fossil fuel production, driving renewed drilling and mining investment, and creating new jobs in mines and on rigs. Will these policies — likely […]
Sierra Club’s attack on natural gas-fired plants wrong – because science
Sierra Club placed ideology ahead of facts while American consumer relies on affordable electricity options By Nicole Jacobs, EnergyInDepth The Sierra Club — the same group that once touted the benefits of natural gas as a bridge fuel —released a report recently attacking natural gas as “another filthy fossil fuel,” claiming that if natural gas-fired power […]
Saudi Arabia cutting oil production, but not other OPEC members : Kemp
Compliance excluding Saudi Arabia, Kuwait averaged just 50% in January By John Kemp LONDON – Saudi Arabia and its Gulf allies have accounted for almost all the production cuts delivered by OPEC so far as the kingdom resumes its familiar role as swing producer. Saudi Arabia cut production by 564,000 barrels per day in Jan., or […]
China top coal importer as India growth trend stalls: Russell
India coal imports dropped as coal prices rose By Clyde Russell LAUNCESTON, Australia, Jan 30 (Reuters) – India has surrendered its status as the world’s top importer of coal back to China, with its overseas purchases in 2016 falling to less than 200 million tonnes. The question now is whether lower Indian coal imports is […]
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