Author Archive: AEN Staff

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Hess Corp reports smaller-than-expected Q1 loss

Hess Corp reports smaller-than-expected Q1 loss

Hess Corp CEO: “We are poised to benefit from an increase in oil prices” Hess Corp reported a smaller-than-expected Q1 loss on Wednesday thanks to rising crude prices and cost cutting that helped the New York based energy company offset a drop in production. According to Hess, the company’s after-tax cash flow is increased by […]

By April 26, 2017 0 Comments Read More →
Oil prices boosted on US crude stock data

Oil prices boosted on US crude stock data

Oil prices rise after EIA reports crude stocks down 3.6 million barrels Oil prices rose in trading after data released by the US Energy Department showed a larger-than-expected drop in US crude inventories. According to the US Energy Information Administration, crude stocks fell by 3.6 million barrels last week, doubling analysts’ expectations and helped boost […]

By April 26, 2017 0 Comments Read More →
Trump signs executive order to review national monuments

Trump signs executive order to review national monuments

National monuments may be rescinded or resized On Wednesday, US President Donald Trump signed an executive order which could see over two dozen national monuments either rescinded or resized. The move is part of the Trump administration’s push to open up more federal lands to drilling, mining and other development and has industry cheering and environmentalists […]

By April 26, 2017 0 Comments Read More →
Russia tops Saudi Arabia as top Chinese crude supplier in March

Russia tops Saudi Arabia as top Chinese crude supplier in March

Chinese crude market highly sought In the race to be the largest Chinese crude supplier, Russian oil producers bumped the Saudis into second place in March. Saudi Arabia had exported the most oil to China for the first two month of 2017, but last month, Russian exports grew nearly 1 per cent to 1.104 million […]

By April 25, 2017 0 Comments Read More →
Russian coal exports to China jump after North Korea ban

Russian coal exports to China jump after North Korea ban

Russian coal exports to China highest in nearly three years Russian coal exports to China took a significant jump last month after the world’s largest coal buyer turned to alternative suppliers after it imposed a ban on imports from North Korea in February. In March, China imported 19.5 per cent more coal from Russian, bringing […]

By April 25, 2017 0 Comments Read More →
Chinese renewable energy use to increase to 20 per cent by 2030

Chinese renewable energy use to increase to 20 per cent by 2030

Chinese renewable energy use to be over half by 2050 Beijing has set a goal for Chinese renewable energy to increase to 20 per cent of all energy use by 2030 and 50 per cent by 2050, according to a state planner on Tuesday. In a policy document released by the National Development and Reform […]

By April 25, 2017 0 Comments Read More →
Baker Hughes looks for North American revenue to rise in Q2

Baker Hughes looks for North American revenue to rise in Q2

Baker Hughes busy in shale fields On Tuesday, Baker Hughes said it expects its North American revenue to rise in the current quarter over Q1 as producers drill more onshore wells, making up for a drop in demand from customers in the Gulf of Mexico. The oilfield services company says producers are spending more on shale […]

By April 25, 2017 0 Comments Read More →
Oil prices rise ahead of US crude stocks data

Oil prices rise ahead of US crude stocks data

Oil prices up in choppy trading Oil prices rose slightly in seesaw trading on Tuesday as analysts weighed an expected drop in US crude stocks against doubts about the success of the OPEC supply cut deal. Brent crude was up 50 cents to $52.10/barrel at 1:17 p.m. EST and US crude futures were up 33 cents to $49.56/barrel. Analysts […]

By April 25, 2017 0 Comments Read More →
Cenovus shareholder looks to regulator to stop ConocoPhillips assets buy

Cenovus shareholder looks to regulator to stop ConocoPhillips assets buy

Investor says Cenovus Conoco buy dilutes value of shares Cenovus shareholder Coerente Capital Management has filed a complaint with the Ontario Securities Commission, hoping to stop the Canadian oilsands company from purchasing some ConocoPhillips assets. In a Reuters report, Len Racioppo, Coerente’s managing director said the new stock issued to help pay for the deal has significantly […]

By April 25, 2017 0 Comments Read More →
Trump to sign new executive orders on environment, energy this week

Trump to sign new executive orders on environment, energy this week

Executive orders would make it easier to develop onshore, offshore energy President Donald Trump will sign executive orders later this week which will be on energy and the environment, making it easier for the US to develop energy on and offshore, according to a White House official on Sunday.   “This builds on previous executive actions that have […]

By April 24, 2017 0 Comments Read More →