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China Flooded U.S. With Solar Panels Before Trump’s Tariffs

February 16, 2018, by Christopher Martin (Bloomberg) Chinese suppliers flooded the U.S. solar market with panels at the end of last year, as customers sought to avoid paying President Donald Trump’s 30 percent import tariff. Fourth-quarter deliveries from China were almost 11 times higher than in the first nine months of 2017, according to a … Read more

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Three Question Marks for the Trump Economy: Richard J. Carroll

February 16, 2018, by Richard J. Carroll (Bloomberg View) No president is responsible for the economy, whether good or bad, in his first year in office. So when commentators this year leap to judge Donald Trump’s economic record, whether based on market gyrations or the federal debt or inflation or unemployment, they should use the … Read more

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DTE Energy reports solid 2017 financial results; positive impact of tax reform provides significant benefit to customers and improves 2018 guidance

DTE Energy Logo

DETROIT, Feb. 16, 2018 /PRNewswire/ — DTE Energy (NYSE: DTE) today reported 2017 earnings of $1.1 billion, or $6.32 per diluted share, compared with $868 million, or $4.83 per diluted share in 2016. Reported 2017 earnings were higher primarily driven by results in the non-utility businesses. 2017 operating earnings were $1.0 billion or $5.59 per … Read more

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Ameren (NYSE: AEE) Announces 2017 Results and Issues Guidance

Ameren Logo

ST. LOUIS, Feb. 16, 2018 /PRNewswire/ — Ameren Corporation (NYSE: AEE) today announced 2017 net income attributable to common shareholders in accordance with Generally Accepted Accounting Principles (GAAP) of $523 million, or $2.14 per diluted share, compared to $653 million, or $2.68 per diluted share, for 2016. The 2017 GAAP earnings included non-cash charges, primarily … Read more

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Big Oil CEOs Urge Norway to Throw a Lifeline to Carbon Capture

Big Oil

February 16, 2018, by Mikael Holter (Bloomberg) Three of the world’s biggest oil companies called on Norway to help maintain funding for carbon capture and storage technology that is stagnating amid concerns about whether it can ever be cost-effective. The chief executive officers of Royal Dutch Shell Plc, Total SA and Norway’s state-controlled Statoil ASA gathered … Read more

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Judge Says U.S. Must Use Energy Standards in Loss to Trump

US Coal Plant

February 15, 2018, by Erik Larson (Bloomberg) The Trump administration was ordered to begin using new national energy efficiency standards that the federal government had refused to implement, the attorneys general of New York and California said in a statement. U.S. District Judge Vince Chhabria in San Francisco ordered the Department of Energy Thursday to publish … Read more

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Commentary: Why Gas Taxes Aren’t Paying the Bills Anymore: Justin Fox

Justin Fox

February 15, 2018, by Justin Fox (Bloomberg View) As has been widely noted, the infrastructure spending plan unveiled by the White House this week doesn’t include a lot of federal spending on infrastructure. This is not just a matter of ideology or timidity on the administration’s part. It’s also a reflection of the fact that the biggest … Read more

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Bigger Turbines, Better Economics, More Digitization on Deck for 2018 Wind Power Market

February 14, 2018, by William Steel (Renewable Energy World) As we enter 2018, here’s a high-level overview of which wind energy trends to keep your eye on in the coming year. By almost all estimates, 2018 should mark continued steady rise of onshore wind in mature markets coupled with a strong progression in emerging markets … Read more

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Five Things to Know in World Business Today

February 16, 2018, by Lorcan Roche Kelly (Bloomberg) Still gaining The strengthening recovery across U.S. equities — the S&P 500 Index capped its best five-day run since 2011 yesterday — continues to set the tone for global benchmarks. Overnight, the MSCI Asia Pacific Index rose 0.7 percent in a fairly quiet session as the Chinese New Year holiday began, while … Read more

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Trump Nominee for Key U.S. Energy Post Says would Oppose Russia Pipeline

February 15, 2018 WASHINGTON (Reuters) – U.S. President Donald Trump’s nominee for a top State Department energy position said on Thursday he would oppose Russia’s proposed natural gas pipeline under the Baltic Sea to Germany – the Nord Stream 2. “The United States’ position, it is my understanding, is to strongly oppose that pipeline,” Francis … Read more

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U.S. Regulator Moves to Clear Market Barriers for Energy Storage Technology

Tesla Batteries

February 15, 2018, by Valerie Volcovici WASHINGTON (Reuters) – In a boost for electric storage technology, the Federal Energy Regulatory Commission (FERC) on Thursday approved a new rule to remove barriers to batteries and other storage resources in U.S. power markets. The FERC order will “enhance competition and promote greater efficiency in the nation’s electric … Read more

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Oil Producers to Draft Long-Term Alliance Deal by End-2018: UAE Minister

UAE Energy Minister Suhail bin Mohammed al-Mazroui

February 15, 2018 DUBAI (Reuters) – Oil producers led by Saudi Arabia and Russia aim to draft an agreement on a long-term alliance by the end of this year, United Arab Emirates energy minister Suhail al-Mazroui told the local National newspaper on Thursday. The newspaper also quoted him as saying OPEC was urging its members … Read more

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U.S. Environmental Penalties Nearly Half in Trump’s First Year: Report

Donald Trump

February 15, 2018, by Valerie Volcovici WASHINGTON (Reuters) – The Environmental Protection Agency levied around half the average number of penalties against polluters in the first year of the Trump administration as in the same period of the past three presidential administrations, according to a report released Thursday. The decline was due to staff and … Read more

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Washington State Likely to Deny Permits for Trump Oil Drilling Plan: Official

February 15, 2018, by Laila Kearney NEW YORK (Reuters) – Washington state is preparing to reject land leases and easements to stymie the Trump administration’s plan to allow oil drilling off its shores, an official of the Pacific northwest state said on Thursday. State Commissioner of Public Lands Hilary Franz, in a letter to U.S. … Read more

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TransCanada to Proceed with Canada Gas Line Expansion, Profit Beats

TranCanada Keystone XL Pipeline sign

February 15, 2018, by Julie Gordon VANCOUVER (Reuters) – Pipeline operator TransCanada Corp (TRP.TO) (TRP.N) said on Thursday that it would go ahead with the C$2.4 billion ($1.9 billion) expansion of its NGTL natural gas system, boosting pipeline access for producers in Western Canada’s gas-rich basins. The Calgary-based company also reported a strong fourth quarter … Read more

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Global Oil Cut Deal may Hit Russian Economy in 2018: Central Bank

Oil Price

February 16, 2018, by Elena Fabrichnaya MOSCOW (Reuters) – A global deal on output cuts between OPEC and non-OPEC countries to shore up oil prices may hit Russia’s economy in 2018, the central bank said in statement on Friday. The Organization of the Petroleum Exporting Countries, along with other large exporters including Russia, have agreed … Read more

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Imperial warns faulty aircraft gasoline could pose fuel gauge interference

CALGARY — Imperial Oil Ltd. is warning regulators and customers that aviation gasoline shipped from its Edmonton-area refinery could cause interference with aircraft fuel gauge sensors.
The company says in a release that a product quality problem was …

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2018 Renewable Outlook Stable: Renewables Can Now Self-Sustain

February 15, 2018, by Gregory Remec (Renewable Energy World) The Trump administration is not likely to stop the growth of the renewables market in the U.S. The tax incentives rolled out during the Obama administration have served their purpose and the lion is now out of its cage. Renewables are here to stay. Renewables have … Read more

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Three Gauges Show Prices Rising in U.S. Production Pipeline

Pipeline

February 15, 2018, by Katia Dmitrieva (Bloomberg) Three measures of price pressures for American businesses showed they’re facing higher production costs, adding to evidence that inflation is creeping up in the U.S. economy. The Empire State Manufacturing prices-paid index increased 12.4 points to 48.6 in February, the highest level since 2012, according to the survey published … Read more

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Targa Resources Corp. Reports Fourth Quarter and Full Year 2017 Financial Results and Provides 2018 Operational and Financial Guidance

HOUSTON, Feb. 15, 2018 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE:TRGP) (“TRC”, the “Company” or “Targa”) today reported fourth quarter and full year 2017 results. Fourth Quarter and Full Year 2017 Financial Results Fourth quarter 2017 net income (loss) attributable to Targa Resources Corp. was $283.1 million compared to ($150.8) million for the fourth quarter of … Read more

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Noble Energy Announces $750 Million Share Repurchase Program

Houston, Feb. 15, 2018 (GLOBE NEWSWIRE) — Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or “the Company”) today announced that its Board of Directors has authorized a $750 million share repurchase program.  In addition, the Company has executed an agreement to sell its deepwater Gulf of Mexico assets to Fieldwood Energy LLC (“Fieldwood”) for a … Read more

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Oil Trades Near One-Week High as Stockpile Gains Slow Down

February 15, 2018, by Grant Smith (Bloomberg) Oil in New York traded near a one-week high as improving sentiment in equities spilled over into crude and American stockpiles increased slower than forecast. Futures slipped 0.2 percent after gaining 2.4 percent on Wednesday. Global equities recovered from the recent risk-asset rout, while a weaker dollar burnished the … Read more

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Commentary: OPEC Pact Likely to Evolve Rather than Terminate: Kemp

John Kemp Reuters Columnist

February 14, 2018, by John Kemp LONDON (Reuters) – “The lexicon of exit is not found in our vocabulary”, OPEC Secretary-General Mohammad Barkindo told reporters on the sidelines of a conference in Cairo on Monday. Ministers from the Organization of the Petroleum Exporting Countries have been anxious to counter speculation about an early end to … Read more

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Five Things to Know in World Business Today

February 15, 2018, by Lorcan Roche Kelly (Bloomberg) Stocks rise The recovery in the S&P 500 Index, which closed higher for a fourth day of gains yesterday, continues to set the tone for global stocks. Overnight, the MSCI Asia Pacific Index rose 1.5 percent in a broad rally, while Japan’s Topix index ended the session 1 percent higher … Read more

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Electric Airplane Start-Up Eviation Aims to Enter Service in 2021 After Battery Deal

Electric Plane Eviation

February 15, 2018, by Jamie Freed SINGAPORE (Reuters) – Electric airplane start-up Eviation Aircraft Ltd is aiming for its 9-seat commuter aircraft to be flying passengers by 2021 after signing up South Korea’s Kokam as its battery supplier, the Israeli company’s chief executive said on Thursday. Venture capital-backed Eviation is one of a number of … Read more

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Trump Backs 25-Cent-a-Gallon Gasoline Tax Hike: Senator

Donald Trump

February 14, 2018, by David Shepardson WASHINGTON (Reuters) – U.S. President Donald Trump endorsed hiking the federal gasoline tax by 25 cents a gallon in a meeting with lawmakers on Wednesday about funding his infrastructure spending proposal, a Democratic lawmaker said. Senator Tom Carper, who attended the meeting, confirmed a report by online publication Axios that … Read more

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Hail Shale, but Deepwater Oil Fights Back

Yellow Shell Oil Barrels

February 14, 2018, by Ron Bousso LONDON (Reuters) – Penguins, Royal Dutch Shell’s (RDSa.L) latest oil and gas development in a remote corner of the British North Sea, epitomizes the new doctrine for deepwater projects — keep it cheap and simple. Hunned during the oil price crash of 2014-2016, deepwater projects are being embraced again, … Read more

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Exclusive: Petrobras Sets Next Bid Round for TAG Pipeline to Late March – Sources

Petrobras

February 14, 2018, by Tatiana Bautzer, Carolina Mandl SAO PAULO (Reuters) – Brazilian state-controlled oil company Petroleo Brasileiro SA has set a late-March deadline to receive binding proposals for a controlling stake in gas pipeline network Transportadora Associada de Gás (TAG), three people with knowledge of the matter said. Consortia led by Australia’s Macquarie Group … Read more

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A Year into OPEC’s Production Cuts, Asia’s Oil Markets have Tightened

February 14, 2018, by Henning Gloystein SINGAPORE (Reuters) – Just over a year into production cuts lead by OPEC and Russia, oil markets in Asia have tightened noticeably as significant amounts of excess crude have been taken off tankers used for storage and delivered to customers across the region. Shipping data shows about 15 super-tankers are … Read more

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Trump Energy Adviser Quits Over Denied Security Clearance

White House

February 14, 2018, by Jennifer A. Dlouhy and Ari Natter (Bloomberg) A top White House energy adviser said he resigned after being told he wouldn’t receive a permanent security clearance, amid intensifying scrutiny of administration officials only temporarily authorized to review classified information. George David Banks served on the National Economic Council as a special … Read more

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World’s Deploying More Batteries Than Ever – But Slower

Tesla Batteries

February 14, 2018, by Mark Chediak (Bloomberg) The market for grid-scale batteries may be growing, but it still needs training wheels. Developers deployed a record 1.17 gigawatts of energy storage in 2017, up 4.6 percent from the previous year as growth in Asia was offset by a slight decline in the Americas, according to a … Read more

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Shell’s Pivot to Renewables Sharpens With California Deal

Shell Solar Panel

February 14, 2018, by Brian Eckhouse and Kelly Gilblom (Bloomberg) Royal Dutch Shell Plc, the world’s second-biggest oil company, is expanding its bet on renewable energy. Shell’s North American unit agreed to provide a credit line for trading and a revolving loan facility to Inspire Energy Holdings LLC, according to a statement Wednesday. The Santa Monica, … Read more

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OPEC, Russia to Discuss New Oil-Inventory Measurements in April

February 14, 2018, by Wael Mahdi (Bloomberg) OPEC will soon discuss with Russia a new way to measure oil inventories as producers meet to review their supply-cuts agreement that expires at the end of 2018. Oil producers involved in the supply reductions, which have helped lift crude prices to three-year highs, will discuss which inventory … Read more

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Commentary: Diamondback Starts Valentine’s Day With a Cheap Date: Gadfly – Liam Denning

Liam Denning

February 14, 2018, by Liam Denning (Bloomberg Gadfly) I know it’s Valentine’s Day, but you shale investors sure are some cheap dates. Diamondback Energy Inc. is a darling of the Permian basin, which is itself the darling of the shale world. On Wednesday, it reported its 11th set of quarterly earnings in a row beating the … Read more

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Goodrich Petroleum Announces Year-End Reserves, An Operational Update And Ringing Of The Opening Bell At The New York Stock Exchange

HOUSTON, Feb. 14, 2018 /PRNewswire/ — The Company today announced year-end reserves, an operational update and the ringing of the opening bell at the New York Stock Exchange. RESERVES The Company announced that its proved oil and natural gas reserves as of December 31, 2017increased by 41% to 428 billion cubic feet equivalent (“Bcfe”) versus 303 … Read more

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Phillips 66 and Berkshire Hathaway Announce Share Repurchase Agreement

HOUSTON & OMAHA, Neb.–(BUSINESS WIRE)–Phillips 66 (NYSE: PSX) announces it has agreed to repurchase 35 million shares of Phillips 66 common stock from a wholly-owned subsidiary of Berkshire Hathaway Inc. (NYSE: BRK.A; BRK.B) for $93.725 per share. This $3.3 billion repurchase is expected to close on Feb. 14, 2018. “We are excited to have this … Read more

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Occidental Petroleum Announces 2017 Results and 2018 Guidance

HOUSTON, Feb. 13, 2018 (GLOBE NEWSWIRE) — Occidental Petroleum Corporation (NYSE:OXY) today announced its 2017 results and 2018 guidance. The announcement, financial schedules and accompanying slides can be accessed via the Investor Relations section of the company’s website, www.oxy.com. The earnings release is also available on the Securities and Exchange Commission’s website at www.sec.gov. The … Read more

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Latest U.S. Trade Probe Targets Welded Pipe – Commerce Department

Gas Pipeline

WASHINGTON, Feb 13 (Reuters) – The United States is investigating whether manufacturers in Canada, China, Greece, India, Korea and Turkey are dumping large-diameter welded pipe into U.S. markets or are being unfairly subsidized by their governments, the Commerce Department said on Tuesday. If the government makes a preliminary finding by March 5 that dumping or … Read more

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Vallourec Drilling Products Cuts about 150 Jobs in Texas: Filing

Vallourec logo

February 13, 2018, by Liz Hampton HOUSTON (Reuters) – Vallourec Drilling Products, a subsidiary of Paris, France-based steel pipe maker Vallourec, will lay off roughly 150 employees in Texas, according to a regulatory filing. Vallourec specializes in making tubular products for the energy and other industrial sectors. It has about 19,000 employees worldwide, while its … Read more

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`Made in the U.S.A.’ Turbines Complicate U.S. Offshore Wind Plan

Wind Turbines

February 14, 2018, by Jim Efstathiou Jr. (Bloomberg) With state officials eyeing $56 billion of wind farm projects off the American coastline, developers are worried the turbines will need to be stamped with a big “Made in the U.S.A.” Each structure is enormous — almost half the height of the Empire State Building. Most all of … Read more

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Five Things to Know in World Business Today

February 14, 2018, by Tracy Alloway (Bloomberg) Markets are up U.S. stock futures are higher and European equities are gaining after a mixed session in Asia. But there are a couple things that could knock risk appetite this Wednesday. It could be a huge day for the VIX as options are set to expire (the Cboe Volatility Index … Read more

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Canada to Face U.S. Trade Problems even if NAFTA is Signed – Ottawa

OTTAWA, February 13, 2018 (Reuters) – Trade challenges from U.S. firms will continue to cause turbulence for Canada even if talks to modernize NAFTA are successful, a senior Canadian government official said on Tuesday. Canada sends 75 percent of its goods exports to the United States and is vulnerable to what Ottawa complains is increasing … Read more

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In Trump’s First Year, U.S. Agency Doubles Solar Investments Abroad

Solar Panel

February 13, 2018, by Nichola Groom LOS ANGELES (Reuters) – The United States government doubled its financial support for solar power projects overseas last year under a climate-friendly investment policy written in the last days of the Obama administration, according to a Reuters review of government documents. The growing U.S. support for foreign solar projects … Read more

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Commentary: Coal Jobs won’t Come Back – but There are Other Ways to Help Coal Country: Jason Walsh

Coal Train

By Jason Walsh Feb 13 (Reuters) – It was always obvious that Donald Trump would never be able to keep his promise – made both as candidate and president – that he would bring coal jobs back to battered mining communities. Despite a long-standing campaign by the coal industry to blame the industry’s decline on … Read more

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Wyoming, Utah Explore Funding Legal Challenges to West Coast Coal Policies

Coal Truck

February 13, 2018, by Valerie Volcovici WASHINGTON (Reuters) – Lawmakers in coal-producing Utah and Wyoming, faced by a shrinking market for the fuel, this week introduced laws to fund legal challenges in California and Washington of policies that they believe hurt coal sales. A Utah lawmaker on Monday proposed allocating $2 million to cover legal … Read more

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Asia’s Soaring Gas Demand Opens Window for New LNG Projects

LNG Tanker

February 13, 2018, by Jessica Jaganathan and Henning Gloystein NUSA DUA, Indonesia/SINGAPORE (Reuters) – Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade … Read more

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Louisiana Port Runs Tests with Supertanker for U.S. Crude Exports

Offshore Oil

February 13, 2018, by Devika Krishna Kumar NEW YORK (Reuters) – The Louisiana Offshore Oil Port (LOOP), the largest privately owned crude terminal in the United States, said on Tuesday it had started to test loading and unloading of a supertanker, bringing it closer to being able to export crude oil. LOOP said last year … Read more

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Saudi Arabia to Restrain Oil Exports in March, Confident Cuts will Stabilize Market

February 13, 2018, by Rania El Gamal RIYADH (Reuters) – Saudi Arabia will restrain its oil exports in March despite lower domestic need for crude as OPEC’s leader is pushing to eliminate fully the global oil glut and combat worries about a new cycle of oil price weakness. The Saudi energy ministry said production by … Read more

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Physical Oil Market Sends Warning to OPEC: Rout Might not be Over

February 13, 2018, by Dmitry Zhdannikov, Olga Yagova, Ron Bousso LONDON (Reuters) – As OPEC watches a near 15 percent drop in the oil price in three weeks, important indicators in the physical crude market are flashing signals that the decline might be far from over. The warnings come not from the heavily traded futures … Read more

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Low U.S. Natgas Stocks, Pipe Delays may Hamper Exports to Mexico

Natural Gas

Feb 12 (Reuters) – Unusually low U.S. natural gas inventories and delays in new cross-border pipeline capacity could slow exports this year to Mexico, which is heavily dependent on its northern neighbor for the fuel, analysts said on Monday. Frigid temperatures led to a record withdrawal of 359 billion cubic feet (bcf) in the week … Read more

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EnSync Energy Announces Partnership with Lower Electric to Enter the Illinois Solar Market

MILWAUKEE, Feb. 13, 2018 /PRNewswire/ — EnSync, Inc. (NYSE American: ESNC), dba EnSync Energy Systems (“EnSync Energy”), a leading developer of innovative distributed energy resources (DERs), today announced a partnership with licensed agent, broker and consultant (ABC) Lower Electric to offer solar energy-based electricity solutions to its nearly 4,000 clients in Illinois. The Illinois clean … Read more

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Jones Energy Prices Offering of $450 Million of 9.25% Senior Secured First Lien Notes

AUSTIN, Texas, Feb. 12, 2018 (GLOBE NEWSWIRE) — Jones Energy Holdings, LLC (“JEH”) and Jones Energy Finance Corp. (“JEFC” and, together with JEH, the “Issuers”), both subsidiaries of Jones Energy, Inc. (NYSE:JONE) (“Jones Energy” or the “Company”), announced today that they have priced an offering of $450 million in aggregate principal amount of 9.25% senior … Read more

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Blockchain – Facing Up to the Risks for Oil and Gas – Geoffrey Cann

Geoffrey Cann

Blockchain looks like it will have lots of potential in oil and gas but what risks and barriers need to be surmounted to move from hype to reality? This article is a collaboration with my good friend and colleague Arthur Kramer, a specialist in oil and gas risk management. We recently spent a week meeting with some of Europe’s leading oil and gas companies on blockchain applications in the industry. What can possibly go wrong? Oil … Read more

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EU Wind Funding Down a Fifth to $27.4 Billion in 2017: WindEurope

Wind Turbines

February 12, 2018 FRANKFURT (Reuters) – Spending on new wind capacity in Europe hit a three-year low in 2017, according to industry group WindEurope, in a sign that the sector is slashing costs and becoming more efficient as governments phase out lavish subsidies. Investments into new onshore and offshore wind projects fell to 22.3 billion … Read more

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Five Things to Know in World Business Today

February 13, 2018, by Tracy Alloway (Bloomberg) Markets still seeking stability U.S. stocks may struggle to hold onto yesterday’s momentum, which saw the S&P 500 Index spend the entire session in positive territory for the first time since its last all-time closing high on Jan. 26. S&P 500 futures are declining and European stocks are fluctuating following a … Read more

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Trump Budget Cuts Renewable Energy Office, ups Nuclear Weapons Spending

February 12, 2018, by Timothy Gardner WASHINGTON (Reuters) – U.S. President Donald Trump’s proposed budget cuts spending by more than 65 percent for a research office on renewable energy and efficiency, reductions a Department of Energy official said reflected the success the bureau has had with electric vehicle batteries and wind and solar technologies. The … Read more

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Fire on Ship under Repair Kills Five in India, Injures 11

India Ship Fire

February 13, 2018 BENGALURU (Reuters) – A blast caused by a fire on a ship under repair at India’s Cochin Shipyard Ltd killed five people on Tuesday, and injured around 11, a company spokeswoman said, prompting the government to call for a quick enquiry. The spokeswoman said smoke hampered rescue operations initially and that an … Read more

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Trump Infrastructure Plan would Speed up Pipelines, Cut Environmental Reviews

Donald Trump

February 12, 2018, by Valerie Volcovici WASHINGTON (Reuters) – The Trump administration’s infrastructure proposal released on Monday would speed up the permitting of U.S. natural gas pipelines, including by cutting Congress out of the process for allowing them to cross national parks. The proposal fits into President Donald Trump’s broader plan to boost U.S. oil … Read more

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OPEC’s Barkindo Says has Putin’s Word Russia won’t Flood Oil Market: CNBC

February 13, 2018, by Dmitry Zhdannikov LONDON (Reuters) – OPEC Secretary-General Mohammad Barkindo told CNBC on Tuesday he has President Vladimir Putin’s word that Russia will not flood the oil markets. ** Barkindo told CNBC: “I have had and received assurances both from (Energy Minister) Alexander Novak and President Putin that they would remain committed to … Read more

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Murphy Oil Corporation Announces CFO Intention to Retire

EL DORADO, Ark.–(BUSINESS WIRE)–Feb. 12, 2018– Murphy Oil Corporation (NYSE: MUR) announced today that John W. Eckart, Executive Vice President and Chief Financial Officer, has informed the company of his intention to retire during 2018, after nearly 28 years of service. Currently, Murphy has a search process underway to identify Mr. Eckart’s successor. Mr. Eckart … Read more

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Fast-Rising Oil Supply may Overtake Demand Growth in 2018 – IEA

LONDON, Feb 13 (Reuters) – The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday. The Paris-based IEA raised its forecast for oil demand growth in 2018 to 1.4 million barrels per day, from a previous forecast of … Read more

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Renewable Energy in Europe Set to be Cheaper than Fossil Fuels by 2020

Solar Panels

February 12, 2018, by Daniel King (EnergyNow) “Turning to renewables for new power generation is not simply an environmentally conscious decision, it is now – overwhelmingly – a smart economic one” Renewable energy will be cheaper than fossil fuels in two years, according to a new report. Experts predict that investment in green infrastructure projects … Read more

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A Powerful Mix of Solar and Batteries Is Beating Natural Gas

February 12, 2018, by Christopher Martin and Mark Chediak (Bloomberg) Natural gas is getting edged out of power markets across the U.S. by two energy sources that, together, are proving to be an unbeatable mix: solar and batteries. In just the latest example, First Solar Inc. won a power contract to supply Arizona’s biggest utility when … Read more

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Smartphones Boost Latin American Farmers in Fight against Climate Change

February 12, 2018, by Thin Lei Win ROME (Thomson Reuters Foundation) – Armed with smartphones, thousands of smallholder farmers across Latin America are set to benefit from a technology boost that will help them deal better with the effects of climate change. A three-year agreement will see farmers receive vital information such as weather forecasts and … Read more

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Russia’s Gazprom to Reorganise Export Operations

Gazprom Russia

MOSCOW, Feb 12 (Reuters) – Russian energy giant Gazprom said on Monday it planned to reorganise its export operations to create an integrated international distribution unit responsible for all of its export deliveries, trading and marketing. Gazprom said in a statement the reorganisation would take place in two stages over two years. It said the … Read more

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GulfSlope Energy, Inc. Announces Execution of a Drilling Rig Contract

/EINPresswire.com/ — HOUSTON, TX–(Marketwired – February 12, 2018) – GulfSlope Energy, Inc. (OTCQB: GSPE) (the “Company”) announces the execution of a drilling services contract with Atlantic Maritime Services LLC, a wholly-owned subsidiary of Rowan Companies plc, to secure and utilize the Ralph Coffman jackup rig for the Company’s 2018 Gulf of Mexico drilling program. GulfSlope anticipates spudding the first … Read more

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Canada will do what it must to prevent B.C. from stopping pipeline, says Carr

OTTAWA — Natural Resources Minister Jim Carr says the government will not entertain any attempts by British Columbia to stall or stop the expansion of the Trans Mountain pipeline.
“If that is the goal of any province, we will take the necessary action…

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Evolution Releases New Drilling Optimization Feature

Evolution-Horizontal-Feature

Press Release February 6, 2017 – Houston, Texas and Calgary, Alberta Evolution Engineering Inc. (“Evolution” or “the Company”) today announced the release of electromagnetic (EM) downlink capabilities for its flagship product EvoOne™, the first Unified Telemetry™ measurement while drilling (MWD) system. EM Downlink joins an already extensive feature set for this best-in-class MWD system which … Read more

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Oil’s Bounce From Worst Week in Two Years Capped by Shale Fears

Red Oil Barrels

February 12, 2018, by Grant Smith (Bloomberg) While oil is rebounding from its biggest weekly decline in two years, a surge in U.S. shale still looms over the market. Futures in New York were up 1.8 percent after tumbling 9.6 percent last week, advancing in tandem with a rebound in global equities. OPEC boosted estimates … Read more

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Commentary: Oil Prices Tumble as Hedge Funds Liquidate Record Bullish Position: Kemp

John Kemp Reuters Columnist

February 12, 2018, by John Kemp (John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2BTkJRs   LONDON, Feb 12 (Reuters) – Hedge funds have started to liquidate some of their record bullish positions in crude oil and refined fuels as the rally has gone into reverse and amid … Read more

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What’s Happening With These Oil & Gas Stocks? — Antero Resources, Bill Barrett, Camber Energy, and Cenovus Energy

NEW YORK, Feb. 12, 2018 /PRNewswire/ — WallStEquities.com strives to bring the best free research to the investment community.  Today we are offering reports on AR, BBG, CEI, and CVE which can be accessed for free by signing up to www.wallstequities.com/registration. On Friday, February 09, 2018, the NASDAQ Composite, the Dow Jones Industrial Average, and … Read more

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SunLink Corporation Closes 2017 with 150% Growth, Surpassing 2 GW of Total Installed Solar

MILL VALLEY, Calif.–(BUSINESS WIRE)–SunLink Corporation, a leading manufacturer of enterprise-grade solar mounting systems and intelligent solutions for large-scale utility and commercial markets, today announced the company surpassed more than two gigawatts (GW) of total installed solar projects by the end of 2017. With more than 150 percent year-over-year growth in total megawatts shipped, SunLink exceeded … Read more

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OPEC President Says Shale Surge Won’t Thwart Plan to Clear Glut

Gas Refinery

February 12, 2018, by Mahmoud Habboush (Bloomberg) Surging output of U.S. shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, according to OPEC’s president. The market should re-balance this year, given robust demand and producers’ compliance with their pledges to curtail supply, United Arab Emirates Energy Minister … Read more

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Oil Bulls Run Scared in Global Volatility as U.S. Rivals Saudis

Oil Refinery

February 11, 2018, by Jessica Summers (Bloomberg) Oil enthusiasts are retreating as volatility takes hold of global markets and American gushers rival Saudi Arabia’s. Hedge funds scaled back bets on rising West Texas Intermediate crude prices by the most since August as shock waves rattled everything from stocks to commodities. The rout intensified fears that … Read more

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Five Things to Know in World Business Today

February 12, 2018, by Lorcan Roche Kelly (Bloomberg) Reprieve Equities are rising today, giving investors a break from the volatility-driven selloff that rocked global markets last week. Overnight, the MSCI Asia Pacific ex-Japan Index gained 0.7 percent, with most of the region’s gauges advancing with the notable exception of Australia as a government inquiry into banks weighs on … Read more

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OPEC Sees Higher 2018 Oil Demand, but More Rival Supply

February 12, 2018, by Alex Lawler LONDON (Reuters) – OPEC said on Monday world oil demand would grow faster than expected in 2018 because of a healthy world economy, adding a tailwind to the producer group’s effort to remove a supply glut by cutting output. But the global market will return to balance only towards … Read more

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Big Oil Takes Stage for Post-Austerity Beauty Contest

Big Oil

February 12, 2018, by Ron Bousso LONDON (Reuters) – With years of austerity in their rear-view mirrors, the world’s biggest oil companies are locked in a beauty contest to lure investors with promises of growth and greater rewards. Royal Dutch Shell and Total are emerging as frontrunners after a three-year slump thanks to strong growth … Read more

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Japan’s Honda to Recall 350,000 Cars in China Over Engine Issue

Honda logo

February 12, 2018, by Norihiko Shirouzu BEIJING (Reuters) – Honda Motor Co Ltd (7267.T) will recall roughly 350,000 vehicles in China to resolve a cold-climate engine issue and quell a barrage of customer complaints that has hit the automaker over the past month. The recall involves the CR-V sport utility vehicle and the Civic car equipped … Read more

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The Global Oil Bubble Has Burst. What’s Next?

Pipeline

February 10, 2018, by Daniel King (EnergyNow) Those analysts & industry experts who warned that oil prices can’t go on rising forever now have the chance to tell everyone else “I told you so.” Brent and WTI have fallen by 9 percent since the highs they hit in late January, with the international benchmark slumping … Read more

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Trump to Roll Out Plan to Overhaul U.S. Infrastructure

February 11, 2018, by David Shepardson WASHINGTON (Reuters) – U.S. President Donald Trump will roll out an infrastructure plan on Monday that already faces significant hurdles in Congress because it does not offer as much new federal funding as Democrats want or directly address how to pay for the effort. The plan to use $200 … Read more

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Energy: Canada’s new project approval rules create more uncertainty among investors: Report

Pipeline

February 11, 2018 CNW MONTREAL, Feb. 9, 2018 /CNW Telbec/ – The new review process for industrial projects unveiled by Ottawa risks hurting the Canadian economy’s competitiveness even more by creating greater uncertainty among investors, points out the MEI, adding that the energy sector is already going through a difficult period. The abandonment of the Energy East project and the … Read more

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OPEC’s Oil Price Nightmare Is Already Coming True: Gadfly

February 11, 2018 by Julian Lee (Bloomberg Gadfly)  The latest surge in U.S. oil output will probably hasten the country’s rise to the top of the producer pile. More important, it’s starting to look as though at least half of OPEC’s nightmare scenario for 2018 — a surge in shale output and slowdown in demand growth — … Read more

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Orion Resource Partners Closes Orion Mine Finance II LP at $2.1 Billion

NEW YORK, Feb. 9, 2018 /PRNewswire/ — Orion Resource Partners (USA) LP (“Orion”), one of the world’s largest alternative finance providers to the metals and mining sector, today announced that it completed the final closing of Orion Mine Finance Fund II LP (together with its associated co-investment vehicle, “Fund II”). Fund II closed on over $2.1 billion of capital commitments. … Read more

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Oil Prices Plummet As U.S. Drillers Add More Rigs

February 9, 2018, by Daniel King (EnergyNow) As if the recent nosedive that oil prices have taken in the last few days wasn’t bad enough—Baker Hughes reported a staggering increase to the number of rigs. The number of active oil and gas rigs increased by 29 according to Baker Hughes data. This brings the total … Read more

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U.S. drillers boost oil rig count to highest nearly 3 years -Baker Hughes

February 9, 2018 Reuters U.S. energy companies added 26 oil rigs this week, boosting the count to 791, its highest since April 2015, even as crude pulled back from three-year highs with drillers expecting higher prices for their output in 2018 than last year.The increase in the week to Feb. 9 was the biggest weekly rise … Read more

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End of NAFTA Wouldn’t Be ‘End of World’: Mexican Leftist’s Top Diplomat

Nafta Flags

February 9, 2018, by Lizbeth Diaz and Frank Jack Daniel MEXICO CITY (Reuters) – The collapse of NAFTA would not be a disaster for Mexico, the top foreign policy advisor to leftist presidential election frontrunner Andres Manuel Lopez Obrador said, adding that Mexico should depend less on the United States and not interfere with regional … Read more

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EIA- U.S. Natural Gas Weekly Update Report – February 8, 2018

U.S. natural gas prices to remain low despite increasing exports, according to AEO2018     EIA’s Annual Energy Outlook 2018 (AEO2018), released on February 6, projects U.S. dry natural gas production to generally increase through 2050 in all cases. In the Reference case, production over the projection period (2018–2050) is expected to average 2.8 trillion cubic … Read more

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Apache Corporation Announces Appointment of W. Mark Meyer as Senior Vice President, Energy Technology Strategies

HOUSTON, Feb. 08, 2018 (GLOBE NEWSWIRE) — Apache Corporation (NYSE:APA) (Nasdaq:APA) today announced W. Mark Meyer has been named senior vice president, Energy Technology Strategies, effective March 1. “Apache has long been a leader in innovation and the application of cutting-edge technologies in our operations across the globe. Mark’s extensive experience and expertise will complement … Read more

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Cheniere Announces LNG Sale and Purchase Agreements with China National Petroleum Corporation

HOUSTON–(BUSINESS WIRE)–Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that it has entered into two liquefied natural gas (“LNG”) sale and purchase agreements (“SPA”) with China National Petroleum Corporation (“CNPC”). Under the SPAs with Cheniere’s subsidiaries, Corpus Christi Liquefaction, LLC and Cheniere Marketing International LLP, CNPC subsidiary PetroChina International Company Limited will purchase approximately … Read more

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Sanchez Midstream Partners Declares Distribution on Common Units; Announces Distribution on Class B Preferred Units

HOUSTON, Feb. 08, 2018 (GLOBE NEWSWIRE) — Sanchez Midstream Partners LP (NYSE American:SNMP) (“SNMP” or the “Partnership”) announced today that the board of directors of its general partner has declared a quarterly cash distribution on its common units of $0.4508 per unit ($1.8032 per unit annualized). The board of directors of the general partner has … Read more

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U.S. Is Said to Be Weighing Emergency Aid for Some Coal Plants

US Coal Plant

February 9, 2018, by Catherine Traywick, Jennifer A. Dlouhy and Ari Natter (Bloomberg) After failing to win a bailout for cash-strapped coal plants, some Trump administration officials are considering emergency orders that could keep at least some coal generators online, people familiar with the discussions said. The approach would require Rick Perry to use his … Read more

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Five Things to Know in World Business Today

February 9, 2018, by Lorcan Roche Kelly (Bloomberg) Stocks fall Another late-session plunge into the U.S. close yesterday spurring a correction in the S&P 500 Index has triggered selling across the globe. Overnight, the MSCI Asia Pacific Index dropped 1.8 percent, while Japan’s Topix Index closed down 1.9 percent, taking the gauge’s losses for the week to 8 … Read more

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U.S. Budget Deal would Sell 15 Percent of Emergency Oil Reserve

US Whitehouse

February 8, 2018 WASHINGTON (Reuters) – The U.S. budget deal reached by Congress on Wednesday includes the sale of 100 million barrels of crude oil from the country’s emergency petroleum stash starting in 2022, or about 15 percent of the reserve, according to the text of the agreement. Under the agreement, expected to be voted … Read more

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Gazprom Warns Europe of Gas Shortage without Increased Russian Imports

Gazprom Russia

February 9, 2018, by Dmitry Zhdannikov LONDON (Reuters) – Europe will face a gas shortage and price spike as soon as the next decade if it doesn’t decide quickly to boost imports from Russia as gas purchases from the United States or Qatar fail to match demand, Kremlin energy giant Gazprom told Reuters. The Trump administration … Read more

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Trump ‘Energy Dominance’ Policy Pits Washington Against Moscow

Donald Trump

February 8, 2018, by Timothy Gardner WASHINGTON (Reuters) – Last July, U.S. President Donald Trump stood beside his Polish counterpart, Andrzej Duda, in Warsaw and promised to help wean the nation off Russian energy imports. He offered U.S. fuel as an alternative, “so that you can never be held hostage to a single supplier.” Trump … Read more

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How Soaring U.S. Oil Exports to China are Transforming the Global Oil Game

Pipeline Oil Storage

February 9, 2018, by Henning Gloystein SINGAPORE (Reuters) – Bit by bit, the U.S. petroleum industry is turning world oil markets inside out. First, sharp drops in U.S. imports of crude oil eroded the biggest market that producers like OPEC had relied on for many years. Now, surging U.S. exports – largely banned by Washington until … Read more

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U.S. Oil Reserve Would Fall Nearly in Half Under Budget Deal

Drilling Rig pipes

February 8, 2018, by Ari Natter and Catherine Traywick (Bloomberg) The U.S. is poised to sell half of its emergency oil reserves to help pay its bills, something critics say defies the reason the stockpile was created decades ago as a hedge against supply disruptions. The spending deal making its way through Congress calls for selling … Read more

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Biofuel Producers, Nuclear Power Get Boost in U.S. Budget Deal

Biodiesel

February 8, 2018, by Ari Natter (Bloomberg) Tax credits that would benefit biofuel producers and a nuclear reactor project being constructed by Southern Co. are among the energy incentives in a budget deal that Congress must pass by midnight to keep the government open. The tax incentives, which were left out of the broad package … Read more

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Mexico Worried Oil Sanctions will Hurt Venezuelans, Caribbean: Minister

February 8, 2018 MEXICO CITY (Reuters) – Mexican energy secretary Pedro Joaquin Coldwell said on Thursday that Mexico will not impose oil sanctions on Venezuela, adding that it is worried about the potential impact of such measures on the South American country’s population and on the Caribbean. However, he reiterated that Mexico was taking part in … Read more

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Trump Offshore Oil Drilling Plan Draws Protest in California

February 8, 2018, by Sharon Bernstein SACRAMENTO, Calif., Feb 8 (Reuters) – Environmental activists in California on Thursday plan to protest a Trump Administration proposal to vastly increase offshore oil drilling in the United States. The protest was planned to immediately precede a public meeting by the U.S. Interior Department’s Bureau of Ocean Energy Management in … Read more

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Canada, Facing Protests, Seeks to Overhaul Pipeline Assessments

Gas Pipeline

February 8, 2018, by David Ljunggren OTTAWA (Reuters) – The Canadian government, seeking to address unhappiness over the potential environmental impact of major projects, on Thursday unveiled draft legislation to change how pipelines and mines are assessed. The bill, which officials say could become law by mid-2019, will create a new Impact Assessment Agency of … Read more

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Solar Developer Renewable Properties Secures $12.5 Million in Funding From New Energy Capital Partners

SAN FRANCISCO–(BUSINESS WIRE)–Renewable Properties, a team of experienced renewable energy professionals with development and investment capabilities throughout the U.S., today announced the closing of a new $12.5 million capital commitment from New Energy Capital Partners to develop, finance, and operate solar energy projects for utilities, local governments and large commercial entities. “I am tremendously excited … Read more

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Michael Ciskowski to Retire as Valero Executive Vice President and Chief Financial Officer May 3; Donna Titzman to Assume CFO Position

SAN ANTONIO, Feb. 07, 2018 (GLOBE NEWSWIRE) — Valero Energy Corporation (NYSE:VLO) today announced that Michael Ciskowski has decided to retire as the Company’s Executive Vice President and Chief Financial Officer effective May 3, 2018.  Valero’s Board of Directors has elected Donna Titzman, currently Senior Vice President and Treasurer, as Executive Vice President and Chief … Read more

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U.S. Schlumberger files new bid for Russia’s EDC: RIA

Schlumberger

February 8, 2018 MOSCOW (Reuters) – U.S. oilfield services giant Schlumberger (SLB.N) has filled a new bid for Russia’s oil services provider Eurasia Drilling (EDC), RIA news agency cited the head of Russia’s watchdog Federal Antimonopoly Service, Igor Artemyev, on Thursday. Schlumberger had initially applied to FAS for approval of the deal to buy 51 … Read more

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Greenfields Petroleum Corporation: 2017 Year-End Proved Reserves Up 51% On Previous Year

/EINPresswire.com/ — HOUSTON, TEXAS–(Marketwired – Feb 8, 2018) – Greenfields Petroleum Corporation (“Greenfields” or the “Company”) (TSX VENTURE:GNF) is pleased to announce the Company’s oil, natural gas and natural gas liquids (“NGL”) reserves as at December 31, 2017, as evaluated by an independent engineering firm, GLJ Petroleum Consultants Ltd. (“GLJ”), in an independent report (the … Read more

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Oil Extends Biggest Drop in Two Months as Dollar and Shale Weigh

Oil Workers

February 8, 2018, by Alex Longley (Bloomberg) Oil fell for a fifth day as surging U.S. output and a rising dollar sent crude to its biggest drop in two months. Futures fell as much as 1 percent in New York after Department of Energy data yesterday showed U.S. crude production jumped to a record 10.25 … Read more

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North Sea Oil Pipeline Resumes After Second Halt in 2 Months

North Sea Pipeline System

February 8, 2018, by Rupert Rowling (Bloomberg) The North Sea’s Forties Pipeline System — one of the world’s most important crude oil conduits — resumed overnight after a short halt, coming on the heels of a more significant stoppage in December. “The start-up of the Forties Pipeline System is now underway following the successful resolution … Read more

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Commentary: Tesla Put a Car in Space But How About in Showrooms?: Gadfly – Liam Denning

Liam Denning

February 7, 2018, by Liam Denning (Bloomberg Gadfly) Let’s be clear about one thing: That SpaceX rocket launch on Tuesday was incredible. Putting a Tesla Roadster into orbit atop it was a stroke of marketing genius; imagine the slogan “A bazillion miles without a charge!” Let’s also be clear about another thing: This has nothing … Read more

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Tesla May Be About to Lose Its Throne as King of Rooftop Solar

Tesla Solar Panels

February 7, 2018, by Brian Eckhouse (Bloomberg) Tesla Inc. may be losing the lead in the rooftop solar market. The company installed 87 megawatts of solar systems in the fourth quarter, according to a statement Wednesday. That’s down from the 201 megawatts installed in the same quarter a year earlier and the lowest since it paid $2 … Read more

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Five Things to Know in World Business Today

February 8, 2018, by Lorcan Roche Kelly (Bloomberg) No direction Equity markets are still reeling from Monday’s sudden selloff as volatility fears take hold. Yesterday’s heavy selling into the U.S. close put the brakes on any potential recovery in Asia, with the MSCI Asia Pacific Index gaining only 0.2 percent, while Japan’s Topix index closed 0.9 … Read more

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Canada’s Trudeau Under Pressure to Cork Provinces’ Wine, Oil Row

Justin Trudeau

February 7, 2018, By Rod Nickel and David Ljunggren WINNIPEG, Manitoba/OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau faced pressure on Wednesday from an important political ally and the business community to settle an oil pipeline dispute that has sparked fears of a trade war between two neighboring provinces. Alberta and British Columbia (B.C.) are … Read more

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Texas Flood: U.S. Oil Exports Pour Into Markets Worldwide

Oil Tanker in U.S.

February 7, 2018, by Catherine Ngai, Libby George and Florence Tan NEW YORK/LONDON/SINGAPORE (Reuters) – In the two years since Washington lifted a 40-year ban on oil exports, tankers filled with U.S. crude have landed in more than 30 countries, ranging from massive economies like China and India to tiny Togo. The repeal has unleashed … Read more

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U.S. Gas Drillers Are Missing Out on Asia’s Oil-Driven Cash Boom

February 7, 2018, by Dan Murtaugh, Perry Williams and Stephen Stapczynski (Bloomberg) If you’re pumping natural gas in the U.S., you’re probably missing out on Asia’s boom. That’s because the fortunes of most U.S. natural gas producers are pegged to the nation’s benchmark gas price, which slipped almost 9 percent since June. Meanwhile, companies like Exxon … Read more

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T.A. Cook
Presto GeoSystems
STEP Energy Services

California Says It will Ban Crude from Trump Offshore Drilling Plan

February 7, 2018, by Sharon Bernstein SACRAMENTO, Calif. (Reuters) – California will block the transport of petroleum from new offshore oil rigs through its state, officials told Reuters, a move meant to hobble the Trump administration’s effort to vastly expand drilling in U.S. federal waters. California’s threat to deny pipeline permits for transporting oil from … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

World’s Biggest Wind Turbine Maker Pivots to Solar and Batteries

Wind Turbines

February 7, 2018, by Anna Hirtenstein (Bloomberg) Vestas Wind Systems A/S will offer solar power and storage, allowing the world’s biggest turbine maker to sell hybrid renewable plants that generate electricity around the clock. “We broaden the scope to sustainable energy,” Chief Executive Officer Anders Runevad said Wednesday in a phone interview. “We see a … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

Baker Hughes, a GE company Announces January 2018 Rig Counts

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for January 2018 was 960, up 6 from the 954 counted in December 2017, and up 27 from the 933 counted in January 2017. The international offshore rig count for January 2018 was 196, up 5 from … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Tallgrass Energy Partners and Silver Creek Midstream Announce Joint Venture

LEAWOOD, Kan.–(BUSINESS WIRE)– Tallgrass Energy Partners, LP (NYSE: TEP) (“Tallgrass”) and Silver Creek Midstream, LLC (“Silver Creek”) announced today that they have signed definitive documents to develop the Iron Horse Pipeline (“Iron Horse”), a joint venture pipeline to transport crude oil from the growing Powder River Basin (“PRB”) to Guernsey, Wyo. Iron Horse will connect … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Midstates Petroleum Proposes Combination with SandRidge Energy in All-Stock Transaction

TULSA, Okla.–(BUSINESS WIRE)– Midstates Petroleum Company, Inc. (NYSE: MPO) (“Midstates” or the “Company”) today announced that it has proposed to combine with SandRidge Energy, Inc. (NYSE: SD) (“SandRidge”) in an all-stock merger that would create the leading exploration and production company in the Mississippian Lime play. Earlier today, Midstates sent a letter to the Board of Directors … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Five Trends in Design You Need to Implement in Your Marketing Right Now – William Joseph

Design Trends Graphic

In today’s highly digitalized world, brands are in constant competition with one another. It seems to be an ongoing fight for attention and a battle to see who’s marketing efforts reel in the best ROI. In the past, the most effective (and most popular) marketing mantra was to “sell, sell, sell” as quickly and as … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Oil World Turned Upside Down as America Sells Oil in Middle East

Oil Workers

February 7, 2018, by Sheela Tobben and Wael Mahdi (Bloomberg) The United Arab Emirates, a model Persian Gulf petro-state where endless billions from crude exports feed a giant sovereign wealth fund, isn’t the most obvious customer for Texan oil. Yet, in a trade that illustrates how the rise of the American shale industry is upending … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Electric Buses Will Take Over Half the World’s Fleet by 2025

February 6, 2018, by Mark Chediak (Bloomberg) Nearly half of the municipal buses on the road worldwide will be electric within seven years, with China expected to dominate the global market as it aims to cut urban pollution and support domestic manufacturers. The total number of electric buses in service is forecast to more than triple, from 386,000 … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Five Things to Know in World Business Today

February 7, 2018, by Lorcan Roche Kelly (Bloomberg) Calm Overnight, the MSCI Asia Pacific Index took its lead from the late-session U.S. rally and rose sharply after the open. That initial lift faded, with the regional index only managing to hold a gain of 0.1 percent, while Japan’s Topix index closed 0.4 percent higher. In Europe, the Stoxx 600 … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

China Demands Compensation for U.S. Solar Tariffs: WTO Filings

February 6, 2018 GENEVA (Reuters) – China has sent the United States a demand for talks on compensation for steep U.S. tariffs imposed on imported solar panels and washing machines, World Trade Organization filings showed on Tuesday. China said it was asserting its right as a major exporter to demand compensation, and said it believed … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

U.S. Solar Industry Lost Nearly 10,000 Jobs in 2017

Solar Panels

February 7, 2018, By Nichola Groom (Reuters) – The U.S. solar industry lost nearly 10,000 jobs last year, led by steep losses in mature markets like California and Massachusetts where installation growth has slowed, according to a new report published on Wednesday. It was the first time employment has contracted in the fast-growing industry since … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Big Canada Projects will Have to Do More to Protect Fish: Ottawa

Dominic Leblanc

February 6, 2018 OTTAWA (Reuters) – Proponents of industrial projects situated near or on bodies of water in Canada will in future have to do more to protect fish and their habitat, the Liberal government said on Tuesday. The announcement by Fisheries Minister Dominic LeBlanc is part of an official drive to revamp the way … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

Chevron Mulling Participation in Brazil’s March Oil Auction

February 6, 2018 RIO DE JANEIRO (Reuters) – Chevron Corp (CVX.N) is considering taking part in an oil auction next month in Brazil as part of a consortium of companies, Brazilian oil regulator ANP said on Tuesday on its website. The auction, slated for March 29, will offer 70 blocks in the offshore Ceará, Potiguar, … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Bears Ears’ Mining Rush Falls Flat as No One Bothers to Show Up

Coal Truck

February 7, 2018, by Joe Deaux (Bloomberg) Early on Friday morning, vast swathes of the red-rock high plateau that surrounds federally protected buttes in southern Utah were officially thrown open to miners. A controversial decision weeks earlier by President Donald Trump had shrunk the size of two national monuments — known as Bears Ears and Grand … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Wave of Sunshine Means Two Hours of Free Power in California

February 6, 2018, by Mark Chediak Electricity in California cost nothing for two hours Tuesday as a wave of solar energy flooded the grid while demand was below the day-ahead forecast. Northern California and Southern California wholesale spot power averaged $0 a megawatt-hour in the hours ending at 11 a.m. and noon, according to Genscape Inc. … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Energy stocks have room to build on solid start

February 5, 2018 Reuters NEW YORK, Feb 5 (Reuters) – Energy stocks have got off to a strong start this year and look poised to run further, fueled in part by a rebound in oil prices, climbing U.S. production and investors looking to take advantage of shares that could be a bargain after a disappointing 2017. … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

EIA expects U.S. oil output to exceed 11 million bpd by late 2018

Red Oil Barrels

February 6, 2018  Reuters NEW YORK, Feb 6 (Reuters) – U.S. oil production is expected to surpass 11 million barrels per day in late 2018, a year earlier than projected last month, the U.S. Energy Information Administration said on Tuesday. Domestic crude oil production in 2018 is also expected to rise by more than previously projected, … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

EIA’s latest Annual Energy Outlook projects rising production, relatively flat consumption

February 6, 2018 Source: U.S. Energy Information Administration, Annual Energy Outlook 2018 EIA’s Annual Energy Outlook 2018 (AEO2018), released this morning, includes projections of U.S. energy markets through 2050 based on a Reference case and a number of sensitivity cases. The AEO2018 Reference case shows continued development of U.S. shale and tight oil and natural gas resources paired with … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Commentary: Brazil’s Energy Future Is No Longer Dammed: Mac Margolis

February 6, 2018, by Mac Margolis (Bloomberg View) When the Brazilian government announced late last month that it was shelving plans to build huge hydroelectric dams, skeptics could be forgiven for dismissing the declaration by Minister for Mines and Energy Fernando Coelho. What better way to spin a policy retreat into a public relations win? Nonetheless, … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

Honolulu Energy Storage Permits Jump More Than 1,700%

Solar panel

February 5, 2018, by Frank Andorka Last year, the number of solar+storage permits granted by Honolulu city and county increased to 731, a startling increase from the 40 the city granted in 2016. It’s safe to say battery storage has come to Hawaii after Honolulu County experienced a record-shattering year in issuing permits for solar+storage … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Kosmos Energy Refinances Its $1.5 Billion Reserve Based Lending Facility

DALLAS–(BUSINESS WIRE)–Kosmos Energy (NYSE: KOS) (LSE: KOS) announced today that it has refinanced its reserve based lending (RBL) facility. The RBL facility, which previously incorporated only the company’s Ghana assets, now includes the recently acquired producing assets in Equatorial Guinea as well as allowing the company the future flexibility to include the Greater Tortue development … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Sanchez Energy Announces Private Offering of $400 Million in Senior Secured First Lien Notes

HOUSTON, Feb. 06, 2018 (GLOBE NEWSWIRE) — Sanchez Energy Corporation (“Sanchez Energy” or the “Company”) announced today that it has commenced a private offering to eligible purchasers of $400 million aggregate principal amount of senior secured first lien notes due 2023  (the “senior notes”). Sanchez Energy intends to use the net proceeds from this offering to repay … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

BP Dodges Oil-Industry Gloom as Profit Jumps With Production

BP Gas Station

February 6, 2018, by Kelly Gilblom (Bloomberg) BP Plc dodged the disappointment that afflicted other oil-company earnings as it did a better job of exploiting the upswing in crude prices. Oil and gas output rose following the startup of seven new projects last year, helping the London-based giant post a fivefold increase in fourth-quarter profit from … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

Five Things to Know in World Business Today

February 6, 2018, by Lorcan Roche Kelly (Bloomberg) Stocks fall Yesterday’s tumultuous U.S. stock session, which saw the Dow Jones Industrial Average drop as much as 1,500 points, has spread across the world. Overnight, the MSCI Asia Pacific Index plunged 3.5 percent to wipe out gains for the year, while Japan’s Nikkei 225 Stock Average closed 4.7 percent lower … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

Pirates Free Oil Tanker with 22 Indian Crew in Gulf of Guinea

Missing Oil Tanker

February 5, 2018 MUMBAI (Reuters) – Pirates freed a ship carrying 22 Indian crew and 13,500 tonnes of gasoline on Tuesday, Hong Kong-based Anglo-Eastern, which was managing the ship, said in a statement. “All crew members are reported to be safe and well and the cargo remains on board,” the company said. The Marine Express tanker was … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Largest U.S. Refinery Shuts Key Crude Unit, Starts Overhaul – Sources

Refinery

February 5, 2018, by Erwin Seba HOUSTON (Reuters) – The largest U.S. refinery began a planned one-month overhaul on Monday of its key crude oil processing unit, said three sources familiar with plant operations. Motiva Enterprises finished shutting down the large crude distillation unit (CDU) at its 603,000 barrel-per-day (bpd) Port Arthur, Texas, refinery on … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

France Set to Become a European Offshore Wind Powerhouse by 2022

Wind Turbines

February 5, 2018, by Jeremy Hodges and Jessica Shankleman (Bloomberg) Europe’s wind-power industry expects new French offshore turbine installations to overtake the U.K. and Germany by 2022, boosting President Emmanuel Macron’s pledge to increase renewable energy. Construction off the French coast is expected to ramp up from 2020 and turn the country in the fourth-biggest offshore … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Oil Prices Sink One Percent Amid Global Market Plunge, U.S. Output Spree

Oil Pump

February 5, 2018, by Henning Gloystein SINGAPORE (Reuters) – Crude oil futures extended falls from the previous session on Tuesday, with the Brent benchmark dropping 1 percent as global financial markets headed south in the wake of Wall Street’s biggest one-day decline since 2011. Brent crude futures were at $66.95 per barrel at 0148 GMT, down … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Capital Dynamics Clean Energy Infrastructure Team to Acquire 8point3 Energy Partners for $977 million

Capital Dynamics

Expected to be among the largest renewable energy transactions in 2018 NEW YORK, Feb. 5, 2018 /PRNewswire/ — Capital Dynamics, an independent global asset manager, today announced that its Clean Energy Infrastructure (CEI) Team has agreed to acquire San Jose, California-based yieldco 8point3 Energy Partners LP (Nasdaq: CAFD). The publicly-traded company is comprised of approximately … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

What Could Happen if Your Diesel Engines Aren’t Protected by a Positive Air Shutoff System? Disaster! WATCH HERE: Headwind Solutions

Stock in Canada and United States Warehouses to Meet New Industry Regulations    Are your diesel engines, workers and property protected by a Positive Air Shutoff System? On January 1, 2018 Some Energy companies in the United States and Canada changed their Safety Policy to require all diesel engines on their properties must be equipped … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

CMS Energy’s Board Of Directors Increases Quarterly Dividend On Common Stock To 35.75 Cents Per Share

JACKSON, Mich., Feb. 5, 2018 /PRNewswire/ — The Board of Directors of CMS Energy today increased the quarterly dividend on the company’s common stock to 35.75 cents per share, up from 33.25 centsper share. Based on Friday’s closing price for CMS Energy common stock, $43.48, the dividend represents an annualized yield of 3.3 percent. The first quarter dividend for the common stock … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Chief Executives of BP, Royal Dutch Shell, Total, ConocoPhillips, Saudi Aramco and General Motors; the Secretary General of OPEC and Head of the IEA Will Be among Speakers to Examine Energy’s “Tipping Point” at CERAWeek 2018 by IHS Markit

HOUSTON–(BUSINESS WIRE)–Energy industry leaders, experts, government officials and policymakers, as well as leaders from the environmental, technology, financial and industrial sectors, will be among those to address CERAWeek 2018 by IHS Markit, March 5-9 at the Hilton Americas—Houston. CERAWeek 2018: Tipping Point: Strategies for a New Energy Future will examine the changing dynamics of the energy markets, the impact of … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Big Oil Stocks Fail to Attract Buyers as Selloff Persists

Big Oil

February 5, 2018, by Michael Bellusci (Bloomberg) Energy again led U.S. stocks lower, with the sector extending its worst two-day rout in two years. West Texas Intermediate crude futures fell as much as 2.8 percent intraday as the deepening slump in equity and debt markets undermined the outlook for energy demand against the backdrop of swelling … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Overcoming Soft Soil Access Challenges with Lightweight Construction Mats – Presto Geosystems

Construction access over soft soils present a common challenge that project managers face to complete projects on time and within budget. Sites with extremely soft soil—and sites in remote, difficult-to-access areas make access road and pad construction even more challenging. Commonly used legacy construction mats are made from timber, laminate, steel and heavy composite. They … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Commentary: Exxon Mobil Picks a Sour Note to Trumpet to Investors: Gadfly – Liam Denning

Liam Denning

February 2, 2018, by Liam Denning (Bloomberg Gadfly) Any successful performance requires knowing at least one thing: your audience. Exxon Mobil Corp. seemed to lose sight of that on Friday. The oil major made news earlier this week with an announcement of a $50 billion five-year investment plan in the U.S. spurred by, in the … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

ExxonMobil Announces Retirement of Rob Franklin and Appointment of Peter Clarke as President of ExxonMobil Gas & Power Marketing Company

IRVING, Texas–(BUSINESS WIRE)–Rob Franklin, president of ExxonMobil Gas & Power Marketing Company, has announced his intention to retire, effective March 1, 2018, after more than 35 years of service. The board of directors of Exxon Mobil Corporation (NYSE:XOM) has appointed Peter Clarke as president of ExxonMobil Gas & Power Marketing Company and elected him as … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

ExxonMobil Releases Energy & Carbon Summary and Outlook for Energy

IRVING, Texas–(BUSINESS WIRE)–ExxonMobil today released its Energy & Carbon Summary: Positioning for a Lower-Carbon Future and its Outlook for Energy: A View to 2040. The reports highlight ExxonMobil’s analysis of 2 degree Celsius (2oC) scenarios and include sensitivity analyses on electric vehicle penetration and renewables deployment. They are in response to a 2017 shareholder resolution … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

California Gears Up for Trump Battle on Car-Emissions Rules

Car Emissions

February 2, 2018, by Mark Chediak, Dana Hull and John Lippert (Bloomberg) California is prepared to fight back if the Trump administration tries to take away its right to stay tough on emissions, according to the state’s top clean-air regulator. The state has special authority under the 1970 Clean Air Act to make its own … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Brent Slips to Lowest in a Month After U.S. Drilling Expands

Oil Workers

February 5, 2018, by Alex Longley (Bloomberg) Oil’s rally is unraveling on fears over a rise in U.S. production and as a deepening slump in equities undermined market support. Benchmark Brent fell to its lowest level since Jan. 8 as Baker Hughes data showed American explorers last week raised the number of rigs drilling for crude … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Five Things to Know in World Business Today

February 5, 2018, by Lorcan Roche Kelly (Bloomberg) Selloff Last Friday’s stock market rout in the U.S. spread to Asian and European markets this morning. The MSCI Asia Pacific Index dropped 1.5 percent overnight, with Japan’s Topix Index closing 2.2 percent lower. In Europe, the Stoxx 600 Index was 1.1 percent lower at 5:45 a.m. Eastern Time, with … Read more

New SHOWCASE Directory Companies

 

T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Next-Wave LNG Terminals Get Smaller to Offer Flexible Supply Deals

LNG Tanker

February 4, 2018, by Julie Gordon VANCOUVER (Reuters) – The liquefied natural gas market is growing every year, but the terminals that ship and receive the fuel are shrinking. The booming sector’s next-generation infrastructure is being designed for a emerging-market buyers that want smaller volumes on shorter, more flexible contracts. LNG export terminals, where the … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Oil Tanker with 22 Indian Crew Missing in Gulf of Guinea since Friday

February 4, 2018, by Edward McAllister and Rajendra Jadhav DAKAR/MUMBAI (Reuters) – A ship carrying 22 Indian crew and 13,500 tons of gasoline is missing in the Gulf of Guinea after contact was lost in Benin on Friday, the company and India’s minister of external affairs said on Sunday. The Gulf of Guinea has become an … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

Amid Unrest, Canada Plans to Overhaul Energy Project Assessments

February 4, 2018, by David Ljunggren OTTAWA (Reuters) – The Canadian government, which faces growing protests against major energy projects, this week will present plans to improve the way oil pipelines and mines are assessed, two well-placed sources said. Three entities share responsibility for probing the environmental impact of proposed projects, a system the ruling Liberals … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Energy Stocks have Room to Build on Solid Start

US Stocks raise

February 4, 2018, by Chuck Mikolajczak NEW YORK (Reuters) – Energy stocks have got off to a strong start this year and look poised to run further, fueled in part by a rebound in oil prices, climbing U.S. production and investors looking to take advantage of shares that could be a bargain after a disappointing 2017. … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

PetroQuest Energy Announces Sale of Gulf of Mexico Assets; 2017 Estimated Proved Oil and Gas Reserves and Production

LAFAYETTE, La., Feb. 01, 2018 (GLOBE NEWSWIRE) — PetroQuest Energy, Inc. (NYSE:PQ) today announced the sale of its Gulf of Mexico properties (the “Sold Assets”) on January 31, 2018, but effective as of December 1, 2017. As a result of the sale, the Company has eliminated an approximate $35.4 million undiscounted abandonment liability from its … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Shell Midstream Partners, L.P. Announces Sale of $980 Million of Common Units

Houston, Feb. 02, 2018 (GLOBE NEWSWIRE) — Shell Midstream Partners, L.P. (NYSE: SHLX) today announced entry into definitive agreements for two transactions for the sale of an aggregate 36,029,412 common units representing limited partner interests for total gross proceeds of approximately $980,000,000. Shell Midstream Partners priced a public offering of 25,000,000 common units for total … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Renewables are Benefiting from the Oil Rally, Here’s Why

Canada Refinery

January 31, 2018, by Daniel King (EnergyNow.com) It may sound counterintuitive, but higher oil prices have proved to be an ally for the renewable energy industry, at least when it comes to adoption of clean energy solutions and products—notably electric vehicles (EV’s). This year, thanks to the oil price rally, wind, solar and EV’s will … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Oil Near $70 as U.S. Shale Surge Looms Over Bullish Banks

Red Oil Barrels

February 2, 2018, by Alex Longley (Bloomberg) Brent crude traded near $70 a barrel as the specter of expanding U.S. supply was weighed against Wall Street banks’ growing faith in a price rally. The benchmark grade is on course to end the week lower, after being whipsawed by concern about rising American production and optimism … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

OPEC, Russia Supply Steady as Saudi Masks Venezuelan Drop

Oil Plant Worker

February 2, 2018, by Grant Smith, Dina Khrennikova and Elena Mazneva (Bloomberg) Crude production by OPEC and its main ally Russia held steady last month as increases in Saudi Arabia and Iran offset the ongoing deterioration of Venezuela’s oil industry. Output from the 14 members of the Organization of Petroleum Exporting Countries rose just 20,000 barrels … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Trump Budget Said to Propose Ending Chemical Safety Board

February 1, 2018, by Ari Natter (Bloomberg) President Donald Trump’s 2019 budget proposal will again call for ending the U.S. Chemical Safety Board, an independent agency that investigates major industrial accidents, according to a senior government official familiar with the plan. The agency, with an annual budget of $11 million, was informed by the White … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Five Things to Know in World Business Today

February 2, 2018, by Lorcan Roche Kelly (Bloomberg) Payrolls At 8:30 a.m. Eastern Time today, employment and wage data for the U.S. for January will be released, with expectations for 180,000 job additions, and a 0.2 percent increase in average hourly earnings. Mohamed A. El-Erian, writing for Bloomberg View, says that he is looking for a solid pickup in jobs … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Billions From Trump Tax Cuts Supercharge Fossil Fuel Industries

Oil pipe

February 2, 2018, by Kevin Crowley, David Wethe and Alex Nussbaum (Bloomberg) Oilmen, wildcatters and particularly refiners are reaping billions in gains from President Donald Trump’s tax overhaul, helping boost the staying power of old-style energy even as the world searches for cleaner fuels. The tax adjustments come as crude prices have rallied 54 percent since … Read more

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T.A. Cook
Gardner Denver
Presto GeoSystems
STEP Energy Services

In the Shadow of Oil, Coal Markets Rise from the Ashes

Coal Truck

February 1, 2018, by Henning Gloystein and Sonali Paul SINGAPORE/MELBOURNE (Reuters) – Far from entering the death throes predicted by some environmentalists and analysts, thermal coal miners are enjoying their best returns in years as strong Asian demand and tight supplies send prices soaring. Chinese thermal coal futures hit a record of 687 yuan ($108.49) this … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

U.S. Interior Agency Speeds up Process to Lease Oil, Gas on Federal Land

February 1, 2018, by Valerie Volcovici WASHINGTON (Reuters) – The U.S. Department of the Interior this week quietly removed Obama-era reforms to the leasing of federal land for oil and gas drilling in a move to “simplify and streamline” the process, according to a memo sent to field staff on Wednesday. The instruction memorandum sent … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Texas Shale Challenges North Sea Crude as World Oil Benchmark

Oil Workers

February 2, 2018, by Devika Krishna Kumar NEW YORK (Reuters) – Surging shale oil production in Texas and North Dakota is being felt on trading desks in Chicago, Houston and New York, where a brisk business in West Texas Intermediate crude futures is far outpacing contracts for London-based Brent crude. As the United States approaches … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Exclusive: How Tesla’s First Truck Charging Stations will be Built

Tesla Truck

February 1, 2018, by Eric M. Johnson SEATTLE (Reuters) – Elon Musk, the chief executive of Tesla Inc, has said little about how he plans to turn his prototype electric truck into reality. But Reuters has learned that Tesla is collaborating with Anheuser-Busch, PepsiCo and United Parcel Service Inc to build on-site charging terminals at their … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

U.S. Refiners Talk Expansion After Reaping Billions in Tax Gains

Refinery

February 1, 2018, by Laura Blewitt (Bloomberg) The biggest independent refiners in the U.S. are lining their pockets with billions of dollars in tax reform windfalls just in time to invest in equipment that meets ever-tightening domestic and global environmental rules, making the “liquid freedom” they export cleaner than ever. “The reduction in the corporate … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Philadelphia Refinery Bankruptcy Shows Need for Biofuel Reform: EPA Chief

Philadelphia Oil Refinery

February 1, 2018 WASHINGTON (Reuters) – The head of the U.S. Environmental Protection Agency said on Thursday that the recent bankruptcy of Pennsylvania oil refiner Philadelphia Energy Solutions was evidence that the nation’s biofuel policy needs an overhaul. PES, the largest oil refiner on the East Coast, filed for bankruptcy last month. It blamed the … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

The January Natural Gas Monthly, with data through November 2017, has been released

Natural Gas Monthly The January Natural Gas Monthly, with data through November 2017, has been released. In November 2017, for the sixth consecutive month, dry natural gas production increased year-to-year from the same month a year ago. The preliminary level for dry natural gas production in November 2017 was 2,321 billion cubic feet (Bcf), or … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Breakingviews – Hadas: Tesla’s $60 Billion Mistake on Pay

Tesla Office

January 31, 2018, bu Edward Hadas LONDON (Reuters Breakingviews) – Sometimes companies need chief executives who are visionary geniuses. Sometimes more mundane skills are required. Tesla’s plan to hand Elon Musk as much as $60 billion in stock over 10 years shows the electric-car maker is confused about what sort of boss is appropriate. Investors do not seem unduly worried about the … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

ConocoPhillips Reports Fourth-Quarter and Full-Year 2017 Results; Increases Quarterly Dividend by 7.5 Percent and Planned 2018 Share Repurchases to $2 Billion; Announces Preliminary 2017 Year-End Reserves and Bolt-On Transaction in Alaska

HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today reported fourth-quarter 2017 earnings of $1.6 billion, or $1.32 per share, compared with a fourth-quarter 2016 net loss of $35 million, or ($0.03) per share. Excluding special items, fourth-quarter 2017 adjusted earnings were $0.5 billion, or $0.45 per share, compared with a fourth-quarter 2016 adjusted net loss of $0.3 billion, … Read more

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Gardner Denver
T.A. Cook
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STEP Energy Services

Targa Resources Corp. Announces Executive Leadership Promotions

HOUSTON, Feb. 01, 2018 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE:TRGP) (“Targa” or the “Company”) announced today that Targa’s Board of Directors have appointed Matthew J. Meloy to President, Patrick J. McDonie to President – Gathering and Processing, D. Scott Pryor to President – Logistics and Marketing, Robert M. Muraro to Chief Commercial Officer, and … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

2018 Oilsands Spending to be Lowest in 15 years; Slower Growth to Continue: IHS Markit

Oilsands

January 31, 2018, by IHS Markit & EnergyNow Staff Oilsands production is currently growing as major projects that were started before the oil price collapse are brought onstream, but investment in new growth is taking a nosedive. A new report from IHS Markit’s Oil Sands Dialogue is forecasting that capital spending will drop below $10 billion … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Refiner Bankruptcy Boosts Bid to Solve Trump’s Biofuel Problem

February 1, 2018, by Jennifer A. Dlouhy and Mario Parker (Bloomberg) The bankruptcy of  Philadelphia Energy Solutions LLC, the biggest refiner on the U.S. East Coast, has invigorated efforts to overhaul a 13-year-old federal program promoting biofuels that has drawn bitter criticism from the oil industry. Senator John Cornyn, a Republican from Texas, is drafting legislation that aims … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Oil Struggles to Hold Momentum That’s Slowed Down by U.S. Supply

Oil Tanker

February 1, 2018, by Heesu Lee (Bloomberg) The rally that lifted oil prices to the highest level since 2014 is losing momentum as a jump in U.S. production and a rebound in stockpiles reignite concerns over a glut. Futures are trimming Wednesday’s advance of 0.4 percent after slumping 2.5 percent over the first two sessions this … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Iraq Oil-Export Ambitions Seen Putting Strain on OPEC Accord

Refinery smoke

January 31, 2018, by Anthony DiPaola (Bloomberg) OPEC likes to trumpet its record-breaking compliance with output cuts. Yet one of its largest members has been opening the taps and doesn’t plan to scale back any time soon. Iraq shipped a record 3.55 million barrels of crude a day from Basra, the country’s southern outlet to the … Read more

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Gardner Denver
T.A. Cook
STEP Energy Services
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Shell Poised to Dethrone Exxon in Oil Titans’ Cash Clash

Shell Gas Station

February 1, 2018, by Ron Bousso LONDON (Reuters) – Royal Dutch Shell (RDSa.L) could usurp its largest rival Exxon Mobil (XOM.N) as the energy sector’s biggest cash generator after higher oil and gas prices combined with an improved performance lifted its 2017 revenue. Chief Executive Ben van Beurden has made no secret of his desire … Read more

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STEP Energy Services
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Five Things to Know in World Business Today

February 1, 2018, by Lorcan Roche Kelly (Bloomberg) Hawkish hold Janet Yellen’s last Federal Reserve meeting produced a unanimous decision to keep rates unchanged, while setting up a likely interest-rate increase at Jerome Powell’s first meeting as chair next month, with futures markets project the odds of the latter as a done deal. The addition of the word … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Factbox: Companies Who Bid or Won in Mexico’s Deep Water Oil Sale

Yellow Shell Oil Barrels

January 31, 2018 MEXICO CITY (Reuters) – Royal Dutch Shell (RDSa.L) won five of the first eight oil and gas blocks in Mexico’s prized deep waters in the Gulf of Mexico, making the early running in the country’s biggest auction since the energy sector was opened to international oil firms. Here are details of the … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

Development in Canadian Arctic lags behind other northern regions: think tank

An international affairs think tank says economic development in Canada’s Arctic is falling far behind that in northern regions in other parts of the world.
“There’s just no sign of the vision and long-term political energy required to bring us up in …

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Gardner Denver
T.A. Cook
STEP Energy Services
Presto GeoSystems

Pipelines, not carbon taxes, bigger factor in energy competitivess: report

OTTAWA — Canada’s oil and gas producers are struggling to stay competitive with their U.S. counterparts because of the fight to expand pipeline capacity, says a new report from the C.D. Howe Institute.
The analysis by associate director of research Be…

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T.A. Cook
Gardner Denver
STEP Energy Services
Presto GeoSystems

U.S. Reaches Oil-Output Milestone Months Earlier Than Expected

Oil Barrels

January 31, 2018, by Catherine Traywick U.S. oil production is gaining faster than expected as the country races to challenge giants Russia and Saudi Arabia. Output topped 10 million barrels a day in November, reaching the highest level since 1970 and beating government forecasts by several months, according to data Wednesday from the Energy Information Administration. … Read more

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Gardner Denver
T.A. Cook
Presto GeoSystems
STEP Energy Services

Shell Announces Large Deep-Water Discovery in Gulf of Mexico

January 31, 2018 Shell Offshore Inc. (“Shell”) today announced one of its largest U.S. Gulf of Mexico exploration finds in the past decade from the Whale deep-water well. The well encountered more than 1,400 net feet (427 meters) of oil bearing pay. Evaluation of the discovery is ongoing, and appraisal drilling is underway to further … Read more

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T.A. Cook
Gardner Denver
STEP Energy Services
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U.S. crude stocks rise as gasoline falls: EIA

Oil Pump

January 31, 2018, by Jessica Resnick-Ault NEW YORK (Reuters) – U.S. crude stocks rose more than expected last week, while gasoline and distillate inventories fell, the Energy Information Administration said on Wednesday. “Strong demand in the major refined products categories is supporting the entire petroleum complex after the data release,” said David Thompson, executive vice-president at … Read more

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