Energy Financial

Energy Transfer Equity, Williams $32B deal creates 5th biggest global energy co.

Energy Financial

Energy Transfer Equity, Williams will remain separate companies Energy Transfer Equity is buying pipeline operator The Williams Cos. for approximately $32.61 billion, creating one of the five biggest energy companies in the world. Energy Transfer Equity LP announced Monday it will pay $43.50 per share, a 4.6 per cent premium to Williams’ Friday closing price of $41.60. Williams’ shareholders can choose shares of Energy Transfer Equity affiliate Energy Transfer Corp., cash […]

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Asian Development Bank ups support for clean energy in developing countries

Energy Financial

Asian Development Bank dedicates $4B to lowering GHG emissions MANILA, PHILIPPINES — The Asian Development Bank announced on Friday that in an effort to tackle climate change, it will double its annual climate financing to $6 billion by 2020. President Takehiko Nakao says the news comes against a backdrop of a promise by developed countries to

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Three California power generation facilities bought by Canadian utility

Energy Financial

California power generation facilities sale to close by end of fourth quarter CALGARY – AltaGas Ltd. (TSX:ALA) says it will pay about US$642 million to acquire three natural gas-fired electrical generation facilities in northern California with a total capacity of 523 megawatts. The three properties, the 330 MW Tracy facility, the 97 MW Hanford facility and the 96

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Alaska oil dividend payout $2,072 for every resident

Energy Financial

Alaska oil dividend comes from permanent fund separate account ANCHORAGE, Alaska – Oil prices are so low, they’re hovering at benchmarks not seen in years, plunging oil-dependent Alaska into a crippling budget deficit. But the industry’s woes won’t affect the payout from the state’s oil investment account to Alaskans even though state government has been scrambling

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Low oil prices, increased exports lead to drop in US current account deficit

Energy Financial

Low oil prices reduce value of oil imports, lower trade deficit WASHINGTON – Cheaper oil imports and greater U.S. exports lowered the deficit in the broadest measure of U.S. trade in the April-June quarter. The Commerce Department said Thursday that the current account deficit shrank to $109.7 billion, down from $118.3 billion in the first quarter. The

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US wholesale stockpiles fell 0.1 per cent in July; sales declined 0.3 per cent

Energy Financial

Drop in wholesale stockpiles reflection of low oil prices WASHINGTON – Expectations for U.S. consumer spending appear to have dimmed in July, as wholesalers cut their inventories slightly and sales fell. Wholesale stockpiles slipped 0.1 per cent, while sales dropped 0.3 per cent, the Commerce Department said Thursday. This follows a solid 0.7 per cent gain in

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Continental Resources cuts CAPEX by $350 million due to low oil prices

Energy Financial

Continental Resources expects production growth of 19% to 23% in 2015 Continental Resources, one of America’s largest independent oil and gas producers, is slashing its 2015 budget to “better align spending with cash flow” as oil prices hover in the mid-$40s range. Continental Resources, Inc. (NYSE: CLR) announced Tuesday that it plans to defer well completion activity, except where

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Energy stocks top performers in college endowments – study

Energy Financial

Oil/gas stocks held by college and university endowments produced average annual returns of 13.4% Oil and natural gas company stocks outperformed all other asset classes held by college and university endowments, according to a new study for the American Petroleum Institute. The study was conducted by Dr. Robert Shapiro, chairman of the economic consulting firm Sonecon, for

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