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U.S. drillers add oil rigs for second week in a row

October 18, 2019 Reuters U.S. energy firms this week increased the number of oil rigs operating for a second week in a row for the first time since June even as producers follow through on plans to reduce spending on new drilling this year. Companies added 1 oil rigs in the week to Oct. 18, bringing … Read moreU.S. drillers add oil rigs for second week in a row

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Oil Posts a Weekly Loss Amid Dour Economic Outlook, Supply Rise

By Jacquelyn Melinek Oct 18, 2019 (Bloomberg) Oil posted a weekly loss amid concerns over a slowing global economy and abundant crude supplies. Futures in New York fell 1.7% this week. China reported the slowest pace of economic growth since the early 1990s last quarter, and U.S. government data a day earlier showed American crude inventories expanding. … Read moreOil Posts a Weekly Loss Amid Dour Economic Outlook, Supply Rise

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Energy Chief Perry Tells Trump He Plans to Leave Post This Year

By Jennifer Jacobs, Jenny Leonard and Ari Natter Oct 17, 2019 (Bloomberg) Energy Secretary Rick Perry notified President Donald Trump on Thursday that he’ll leave the post this year.Perry, one of the administration’s original cabinet secretaries, enjoyed good rapport with Trump. The former Texas governor has recently come under scrutiny in the House impeachment inquiry … Read moreEnergy Chief Perry Tells Trump He Plans to Leave Post This Year

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 18, 2019 (Bloomberg) China grows at slowest pace in decades, Brexit deal faces knife-edge vote, and Aramco delays IPO (again). Here are some of the things people in markets are talking about today. Miss China’s gross domestic product rose 6% in the three months to September, the slowest pace since the early 1990s, … Read moreFive Things to Know in World Business Today

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Saudi Aramco to Delay Launch of Its Initial Public Offering

Saudi Aramco

By Will Kennedy and Dinesh Nair Oct 18, 2019 (Bloomberg) Saudi Aramco’s stop-start initial public offering was delayed again just days before a planned launch as doubts re-emerged about the $2 trillion valuation placed on the state oil giant by Crown Prince Mohammed bin Salman. The postponement, by at least a few weeks, will allow … Read moreSaudi Aramco to Delay Launch of Its Initial Public Offering

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Trump Vowed to Save Coal, Now Miners Are Getting Laid Off

By Will Wade Oct 17, 2019 (Bloomberg) The clearest sign yet that America’s Coal County is headed for widespread job cuts: The amount of coal being produced per U.S. miner is at the lowest level in eight years. Productivity has slid 11% this year alone. The last time it was this low was in 2011, … Read moreTrump Vowed to Save Coal, Now Miners Are Getting Laid Off

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Colorado Tightens Restrictions on Oil, Gas Drilling Near Homes

By Catherine Traywick Oct 17, 2019 (Bloomberg) It wasn’t so long ago that Coloradans voted against a bid to block oil and gas development near homes. The state — one of the nation’s top crude-producing regions — is cracking down anyway.Companies planning to drill wells within 2,000 feet (610 meters) of a home should now expect additional … Read moreColorado Tightens Restrictions on Oil, Gas Drilling Near Homes

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OPEC’s Next Meeting May Unveil New Approach to Cuts

By Grant Smith Oct 18, 2019 (Bloomberg) As the clamor grows for OPEC to slash even more oil production, and the group vows to consider any necessary action, its next meeting could result in an unusual step: a preemptive supply cut.The Organization of Petroleum Exporting Countries and its partners — known as OPEC+ — have … Read moreOPEC’s Next Meeting May Unveil New Approach to Cuts

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VAALCO Energy, Inc. Confirms Oil Discovery With Etame 9P Appraisal Wellbore

October 17, 2019 | Source: VAALCO Energy, Inc. HOUSTON, Oct. 17, 2019 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“VAALCO” or the “Company”), today announced that the Etame 9P appraisal wellbore, targeting the subcropping Dentale reservoir beneath the VAALCO-operated Etame field offshore Gabon, was successfully drilled to a total depth of 10,260 feet … Read moreVAALCO Energy, Inc. Confirms Oil Discovery With Etame 9P Appraisal Wellbore

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America’s Coal Country Is Heading for Another Wave of Layoffs

By Will Wade Oct 17, 2019 (Bloomberg) The clearest sign yet that America’s Coal County is headed for widespread job cuts: The amount of coal being produced per U.S. miner is at the lowest level in eight years.Productivity has slid 11% this year alone. The last time it was this low was in 2011, when … Read moreAmerica’s Coal Country Is Heading for Another Wave of Layoffs

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Gardner Denver
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U.S. becomes net exporter of crude and fuel for 2nd week in a row for first time on record

October 17, 2019 Reuters The United States became a net exporter of crude and petroleum products for a second week in a row for the first time on record last week, data from the Energy Information Administration showed on Thursday. The U.S. exported about 31,000 barrels per day (bpd) of crude and petroleum products on a … Read moreU.S. becomes net exporter of crude and fuel for 2nd week in a row for first time on record

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 17, 2019 (Bloomberg)Brexit deal agreed in Brussels, China says officials working on text of a trade agreement, and more bank earnings due. Here are some of the things people in markets are talking about today. Deal done European Commission President Jean-Claude Juncker says a new  Brexit deal has been reached. The pound … Read moreFive Things to Know in World Business Today

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Selling Aramco: The Wall Street A-Listers on the Oil Giant’s IPO

By Matthew Martin, Dinesh Nair, Sonali Basak and Archana Narayanan Oct 17, 2019 (Bloomberg) Saudi Aramco has enlisted the help of a former Donald Trump national security adviser and an ex-House of Representatives majority leader to pull off the world’s biggest IPO. One-time Trump staffer Dina Powell, a partner at Goldman Sachs Group Inc., and … Read moreSelling Aramco: The Wall Street A-Listers on the Oil Giant’s IPO

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Oil Trades Near $53 as Industry Data Shows U.S. Stockpile Jump

By Elizabeth Low Oct 17, 2019 (Bloomberg) Oil traded near $53 a barrel after an industry report showed a sharp jump in U.S. inventories, adding to concern that supply keeps growing while demand ebbs.Futures were down 0.2% in New York, paring earlier losses of as much as 1.1% after the European Union and the U.K. … Read moreOil Trades Near $53 as Industry Data Shows U.S. Stockpile Jump

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Surging Shipping Costs Are Now Bleeding Into Global Fuels Trading

By Jack Wittels Oct 17, 2019 (Bloomberg) Record-high shipping costs are spilling over into the prices for refined fuels in Europe, Asia and the U.S. As freight rates rocket amid U.S. sanctions and geopolitical risks, the prices of oil products such as gasoline and diesel are being forced to adapt in order to enable trade. … Read moreSurging Shipping Costs Are Now Bleeding Into Global Fuels Trading

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Aramco’s IPO Comes as Saudi Markets Head for Even Rougher Waters

By Netty Ismail Oct 17, 2019 (Bloomberg) Anyone buying into Saudi Aramco’s initial public offering in anticipation of a quick rebound in the country’s stock market may be in for a disappointment. Crown Prince Mohammed bin Salman’s desire to get a $2 trillion valuation for the energy giant comes as analysts slash their earnings-per-share estimates … Read moreAramco’s IPO Comes as Saudi Markets Head for Even Rougher Waters

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No choice but to invest in oil, Shell CEO says

Ron Bousso, Dmitry Zhdannikov LONDON (Reuters) – Royal Dutch Shell (RDSa.L) still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. But in an interview with Reuters, Ben van Beurden expressed concern that some shareholders … Read moreNo choice but to invest in oil, Shell CEO says

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Unicat Catalyst Technologies Presents Pressure Swing Adsorption (PSA) Seminar 2019 in New Orleans, LA – Nov 14 & 15

Unicat Catalyst Tech Feature Logo 400x270

UNICAT Catalyst Technologies, Inc. welcomes you to our Pressure Swing Adsorption Seminar to be held at the Hilton New Orleans Riverside in New Orleans, LA on November 14 – 15, 2019. Regardless of your experience, you will leave with the fundamentals of PSA systems and the knowledge and valuable trouble shooting skills to optimize your … Read moreUnicat Catalyst Technologies Presents Pressure Swing Adsorption (PSA) Seminar 2019 in New Orleans, LA – Nov 14 & 15

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Oilfield Services Firm ProPetro Cuts Almost 150 Workers

(Reuters) — ProPetro Holding Corp. this month cut about 150 workers, people familiar with the matter said on Monday, the latest sign of growing trouble in the oilfield services sector as U.S. shale producers reduce drilling. The job cuts reflect slowing shale activity due to weak prices for oil and gas, and producers exhausting their spending budgets … Read moreOilfield Services Firm ProPetro Cuts Almost 150 Workers

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Canada’s Election: A Fortune Lies in Canada’s Oil Sands and Some Voters Want to Leave It There, No Matter What the Consequences

By Kevin Orland and Natalie Obiko Pearson Oct 16, 2019 (Bloomberg) At the Fish Place diner in Fort McMurray, booths are filled with oil workers in baseball caps and the parking lot is lined with pickup trucks sporting six-foot (1.8 meter) neon safety flags, a hallmark of the mining industry. Fort McMurray is the regional … Read moreCanada’s Election: A Fortune Lies in Canada’s Oil Sands and Some Voters Want to Leave It There, No Matter What the Consequences

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 16, 2019 (Bloomberg) Brexit deal hopes dim, China warns of retaliation over Hong Kong bill, and earnings roll on. Here are some of the things people in markets are talking about today. Brexit trouble If yesterday was dominated by hopes of an imminent agreement over the U.K.’s exit from the European Union, … Read moreFive Things to Know in World Business Today

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T.A. Cook
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Some New Yorkers Will Soon Get the Gas They’ve Been Waiting Months For

By Gerson Freitas Jr. Oct 16, 2019 (Bloomberg) Some New Yorkers that have been waiting for months to get natural gas service will see their homes and businesses hooked up by the end of October because of an emergency order issued by Governor Andrew Cuomo. Utility owner National Grid Plc is rushing to comply with … Read moreSome New Yorkers Will Soon Get the Gas They’ve Been Waiting Months For

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T.A. Cook
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Oil Market’s Big Data Show OPEC+ Will Have to Cut Output Again

By Julian Lee Oct 16, 2019 (Bloomberg) The OPEC+ group of oil producers will need to make deeper output cuts when they meet in December. That’s the inescapable conclusion from the latest round of monthly reports published by the three big oil-forecasting agencies. The International Energy Agency, the U.S. Energy Information Administration and the Organization of … Read moreOil Market’s Big Data Show OPEC+ Will Have to Cut Output Again

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China Beats U.S. 8-1 When It Comes to Charging Electric Cars

By Bloomberg News  Oct 16, 2019 (Bloomberg) There are almost as many places to charge your electric vehicle in Beijing as there are in the entire United States. China, the world’s biggest market for EVs, has about eight public chargers for each one in the U.S., according to the latest counts. That imbalance likely will become … Read moreChina Beats U.S. 8-1 When It Comes to Charging Electric Cars

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T.A. Cook
Gardner Denver
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Oil Trading in U.S. Gulf Dries Up as Tanker Rates Skyrocket

Oil Tanker

By Sheela Tobben Oct 16, 2019 (Bloomberg)Soaring oil-tanker costs are drying up activity in the U.S. export market as sellers are slow to lower offers and buyers are skittish, according to market participants. Some sellers have held back from offering cargoes, while others have yet to reduce their offers enough to accommodate the rising cost … Read moreOil Trading in U.S. Gulf Dries Up as Tanker Rates Skyrocket

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T.A. Cook
Gardner Denver
Presto GeoSystems
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Oil Steady After Two Days of Losses as Demand Outlook Worsens

By Elizabeth Low and Grant Smith Oct 16, 2019 (Bloomberg) Oil steadied near $53 a barrel after two days of declines as the fragile economic environment and unresolved U.S.-China trade war continue to deteriorate the outlook for global fuel demand.Futures in New York rose 0.6%. The International Energy Agency sees a “serious challenge” for OPEC and other … Read moreOil Steady After Two Days of Losses as Demand Outlook Worsens

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T.A. Cook
Gardner Denver
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Infrastructure and Energy Alternatives, Inc. Announces $67M Wind Construction Project Award in Iowa

October 16, 2019 08:00 ET | Source: Infrastructure and Energy Alternatives, Inc. INDIANAPOLIS, Oct. 16, 2019 (GLOBE NEWSWIRE) — Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA” or the “Company”), a leading infrastructure construction company with specialized energy and heavy civil expertise, today announced a new wind energy project award valued at approximately $67 million. The award … Read moreInfrastructure and Energy Alternatives, Inc. Announces $67M Wind Construction Project Award in Iowa

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Gardner Denver
T.A. Cook
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U.S. oil and gas jobs fall as drilling declines

October 15, 2019 Reuters U.S. oil and gas employment has started to fall as the sector contracts in response to lower prices over the last year – and further job losses are likely in the next few months as the rate of well drilling declines further. In 2017/18, the second shale-oil boom created almost 100,000 new … Read moreU.S. oil and gas jobs fall as drilling declines

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America’s ‘Green Economy’ Is Now Worth $1.4 Trillion

By Eric Roston Oct 15, 2019 (Bloomberg) If the U.S. wants to extend economic growth, it should double down on cleaning up the environment and fighting climate change, which are fueling both jobs and revenue, according to a new analysis by University College London researchers.“Don’t listen to the political rhetoric,” said Mark Maslin, a professor of … Read moreAmerica’s ‘Green Economy’ Is Now Worth $1.4 Trillion

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America’s Second Great Shale Oil Boom Is Nearly Over, But a Third One May be Coming: Julian Lee

By Julian Lee Oct 13, 2019 (Bloomberg Opinion) America’s second shale boom is running out of steam. But don’t panic just yet, a third one may be coming over the horizon.The U.S. Energy Information Administration published its latest short-term energy outlook last week and has cut its forecast of oil production by the end of 2020 … Read moreAmerica’s Second Great Shale Oil Boom Is Nearly Over, But a Third One May be Coming: Julian Lee

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T.A. Cook
Gardner Denver
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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 15, 2019 (Bloomberg) JPMorgan kicks off bank earnings, pressure mounts on Turkey, and Brexit negotiations head to the wire. Here are some of the things people in markets are talking about today. A lot to watch Earnings season kicks off with a bang this morning as we get reports from  JPMorgan Chase & Co., Goldman … Read moreFive Things to Know in World Business Today

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EU’s Lending Arm Delays Vote on Limiting Fossil-Fuel Financing

By Ewa Krukowska Oct 15, 2019 (Bloomberg) The European Investment Bank stopped short of agreeing a strategy to limit funding for fossil fuels, a plan that would help step up Europe’s ambition to fight climate change. The board of the Luxembourg-based lending arm of the European Union decided at a meeting on Tuesday to postpone … Read moreEU’s Lending Arm Delays Vote on Limiting Fossil-Fuel Financing

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Oil Slides Again as Economy Falters and Supplies Grow

By Elizabeth Low and Grant Smith Oct 15, 2019 (Bloomberg) Oil fell again as a deteriorating outlook for the global economy weighed on demand, while estimates of increased American crude stockpiles suggested that supplies remain abundant.Futures fell as much as 2.2% in New York after declining the same amount on Monday. Investor confidence remained weak … Read moreOil Slides Again as Economy Falters and Supplies Grow

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Gardner Denver
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To Prevent Climate Change, We Need a New Way to Measure Human Progress: Ajay Chhibber

By Ajay Chhibber Oct 14, 2019 (Bloomberg Opinion) At International Monetary Fund and World Bank meetings in Washington this week, there will be much debate about slowing global growth, the impact of the U.S.-China trade war, the role of central banks in preventing a global recession, the risk of disruption to oil markets and much more. … Read moreTo Prevent Climate Change, We Need a New Way to Measure Human Progress: Ajay Chhibber

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Peak Shale: How U.S. Oil Output Went From Explosive to Sluggish

By Catherine Ngai, Mike Jeffers and Kevin Crowley Oct 14, 2019 (Bloomberg) America’s shale boom got the world accustomed to soaring production. Now growth has slowed, and a cloud has formed over the industry.Fracking pushed the U.S. closer to its long-sought goal of energy independence at a time of unprecedented geopolitical risk. Wells from Texas’s Permian … Read morePeak Shale: How U.S. Oil Output Went From Explosive to Sluggish

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Bedrock Automation Announces Upgrades to Free IEC 61131-3 OSA Engineering Software Environment

Bedrock Automation Feature Logo 400x270

Upgraded IEC 61131-3 compatible engineering software available for free download; reduces automation development costs. San Jose, Cal. – Bedrock Automation, maker of Bedrock OSA®, the world’s most powerful and secure automation platform, has announced a new version of its free  IEC 61131-compliant integrated development environment (IDE). Bedrock IDE 1.10 features a completely redesigned Device Management Tool, … Read moreBedrock Automation Announces Upgrades to Free IEC 61131-3 OSA Engineering Software Environment

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 14, 2019 Trump’s mini-deal not enough to lift gloom, earnings season kicks off, and Brexit not fixed yet. Here are some of the things people in markets are talking about today. Stayin’ alive China’s agreement to boost agricultural purchases and the White House’s decision to hold off on increasing tariffs … Read moreFive Things to Know in World Business Today

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T.A. Cook
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Oil Drops After Biggest Gain in a Month as Trade Optimism Ebbs

By Elizabeth Low and Grant Smith  Oct 14, 2019 (Bloomberg) Oil slid after surging the most in almost a month on Friday amid doubts that recent progress in the U.S.-China trade talks will compensate for a worsening global demand outlook.Futures in New York fell as much as 1.4% after gaining 2.2% in the previous session. … Read moreOil Drops After Biggest Gain in a Month as Trade Optimism Ebbs

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One Month After Worst Oil-Supply Halt, Aramco Says All Clear

By Anthony DiPaola Oct 14, 2019 (Bloomberg) In the early hours of a sweltering Saturday in September, a volley of missiles pierced the heart of Saudi Arabia’s oil industry, knocking out 5% of global production. A month later, it’s as if the attack never happened. Saudi Aramco says it’s currently pumping 9.9 million barrels a … Read moreOne Month After Worst Oil-Supply Halt, Aramco Says All Clear

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T.A. Cook
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U.S. drillers add oil rigs for first week in eight: Baker Hughes

(Reuters) – U.S. energy firms this week increased the number of oil rigs operating for the first time in eight weeks even though energy services firms are cutting jobs as most producers follow through on plans to reduce spending on new drilling this year. Companies added two oil rigs in the week to Oct. 11, … Read moreU.S. drillers add oil rigs for first week in eight: Baker Hughes

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Gardner Denver
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Saudi Arabia Denies Involvement in Iran Tanker Attack in Red Sea

By Dina Khrennikova Oct 13, 2019 (Bloomberg) Saudi Arabia said it had no involvement in Friday’s attack on an Iranian oil tanker in the Red Sea that caused a spike of more than 2% in crude prices.“We don’t engage in such behavior,” Minister of State for Foreign Affairs Adel Al-Jubeir said in Riyadh Sunday. “Besides, … Read moreSaudi Arabia Denies Involvement in Iran Tanker Attack in Red Sea

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Gardner Denver
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Oil Aside, Putin’s Saudi Bromance Yet to Yield Dividends

Saudi-Deputy-Crown-Prince-Mohammed-bin-Salman_Vladimir-Putin-Russia

By Henry Meyer Oct 13, 2019 (Bloomberg) Russian President Vladimir Putin’s visit on Monday to Saudi Arabia, only his second since he came to power two decades ago, underscores the new depth in ties between the Kremlin and the traditional U.S. ally. Yet there’s also growing frustration in Moscow at the lack of tangible economic … Read moreOil Aside, Putin’s Saudi Bromance Yet to Yield Dividends

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Gardner Denver
T.A. Cook
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Oil at Two-Week High After U.S.-China Reach Partial Trade Deal

By Jacquelyn Melinek Oct 11, 2019 (Bloomberg) Oil jumped to the highest in two weeks after the U.S. and China reached a partial agreement following trade talks and as an Iranian oil tanker was struck. Futures in New York climbed 2.2% on Friday and the global benchmark Brent closed above $60 a barrel for the first time … Read moreOil at Two-Week High After U.S.-China Reach Partial Trade Deal

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T.A. Cook
Gardner Denver
Presto GeoSystems
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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 11, 2019 (Bloomberg) U.S.-China talks going “very well,” oil jumps on Iranian tanker attack, and Brexit deal hopes rise. Here are some of the things people in markets are talking about today. Meeting President Donald Trump said that the first day of high-level trade talks with China in Washington went “very well” … Read moreFive Things to Know in World Business Today

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Oil Climbs to $60 as Iran Tanker Attack Reignites Mideast Risk

Oil Prices Up

By Sharon Cho and Elizabeth Low  Oct 11, 2019 (Bloomberg) Oil jumped to $60 a barrel after reports of missile strikes on an Iranian tanker off the coast of Saudi Arabia reignited fears over military escalation in the world’s most important crude-producing region.Brent futures surged about $1 a barrel after the Islamic Republic News Agency … Read moreOil Climbs to $60 as Iran Tanker Attack Reignites Mideast Risk

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Iran Oil Tanker Hit by Missiles in Red Sea Near Saudi Arabia

By Golnar Motevalli, Arsalan Shahla and Yasna Haghdoost Oct 11, 2019 (Bloomberg) Iran said missiles struck one of its tankers in the Red Sea, the latest in a series of attacks on oil infrastructure in the region that have roiled energy markets.The Islamic Republic’s tanker company initially said the attacks probably came from Saudi Arabia, … Read moreIran Oil Tanker Hit by Missiles in Red Sea Near Saudi Arabia

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IEA Cuts Oil-Demand Outlook as Economy Eclipses Saudi Attack

Crude Oil Shipments In The Persian Gulf

By Grant Smith Oct 11, 2019 (BloombergThe International Energy Agency cut forecasts for growth in global oil demand, noting that fears of an economic slowdown are overshadowing the loss of supply during last month’s attack on Saudi Arabia.The strike on the kingdom’s production facilities caused the biggest disruption in modern history, halting about 6% of world oil … Read moreIEA Cuts Oil-Demand Outlook as Economy Eclipses Saudi Attack

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Saudi Arabia says its oil output fell 660,000 bpd in Sept after attacks

October 10, 2019 Reuters Saudi Arabia, the world’s largest oil exporter, told OPEC that the kingdom’s oil production in September fell by 660,000 barrels per day (bpd) compared with August to 9.13 million bpd in the wake of attacks on its energy installations. Secondary sources said Saudi Arabia’s oil production was even lower, falling month-on-month in … Read moreSaudi Arabia says its oil output fell 660,000 bpd in Sept after attacks

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Gardner Denver
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Elizabeth Warren’s Fracking Proposal Has Shale Investors Weighing E&P Risk

By Michael Bellusci Oct 9, 2019 (Bloomberg) The prospect of Elizabeth Warren becoming the 2020 Democratic presidential nominee, or the 46th president of the U.S., has energy investors worrying about risks to hydraulic fracturing.“What happens if Elizabeth Warren becomes president and bans fracking?” was the most common question Sanford C. Bernstein received during recent marketing, … Read moreElizabeth Warren’s Fracking Proposal Has Shale Investors Weighing E&P Risk

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Saudi Arabia says its oil output fell 660,000 bpd in Sept after attacks

October 10, 2019 Reuters Saudi Arabia, the world’s largest oil exporter, told OPEC that the kingdom’s oil production in September fell by 660,000 barrels per day (bpd) compared with August to 9.13 million bpd in the wake of attacks on its energy installations. Secondary sources said Saudi Arabia’s oil production was even lower, falling month-on-month … Read moreSaudi Arabia says its oil output fell 660,000 bpd in Sept after attacks

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 10, 2019 (Bloomberg) U.S.-China talks start with hopes for a mini-deal, the latest Trump revelations, and a last-ditch attempt to reach a Brexit deal. Here are some of the things people in markets are talking about today. Curbing enthusiasm The White House is looking at rolling out a previously agreed currency … Read moreFive Things to Know in World Business Today

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Presto GeoSystems

Oil Holds Losses on Bearish Headwinds From Trade to Stockpiles

By Elizabeth Low and Alex Longley Oct 10, 2019 (Bloomberg) Oil held losses near a two-month low as pessimism persisted over the global economic outlook and American crude inventories expanded more than expected.Futures were little changed in New York after earlier falling as much as 2.3% on a report that the U.S. and China had … Read moreOil Holds Losses on Bearish Headwinds From Trade to Stockpiles

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Chevron CEO Mike Wirth Bemoans California Home While Praising Texas

Chevron Corp. may be based in California, but Chief Executive Officer Mike Wirth had little praise for the state as he lauded the Texas business environment during an event in Houston on Wednesday. The Chevron boss hailed Texas’s resource base, its skilled workforce and overall business environment while criticizing policies back in the Golden State … Read moreChevron CEO Mike Wirth Bemoans California Home While Praising Texas

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Saudi Arabia Offers Loans to Develop Renewable Energy

By Vivian Nereim  Oct 10, 2019 (Bloomberg) Saudi Arabia will start offering loans for renewable energy projects and manufacturers of renewable-energy components as the kingdom seeks to diversify its economy away from crude oil. The 105 billion-riyal ($28 billion) Saudi Industrial Development Fund opened applications for the program, called Mutjadeda, on Sunday. The program will give loans … Read moreSaudi Arabia Offers Loans to Develop Renewable Energy

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World’s Top Oil Traders See 2020 Prices Stuck in the $50s

By Laura Hurst, Kelly Gilblom and Grant Smith  Oct 9, 2019 (Bloomberg) As the oil industry’s top executives gathered in London for one of the most important events of the year their view on crude prices was clear: they’ll struggle next year.Vitol SA Chief Executive Officer Russell Hardy told the Oil & Money conference on Wednesday that … Read moreWorld’s Top Oil Traders See 2020 Prices Stuck in the $50s

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Infrastructure and Energy Alternatives, Inc. Provides an Update on Recently Announced Potential Transactions

October 09, 2019  | Source: Infrastructure and Energy Alternatives, Inc. INDIANAPOLIS, Oct. 09, 2019 (GLOBE NEWSWIRE) — Infrastructure and Energy Alternatives, Inc. (NASDAQ: IEA) (“IEA” or the “Company”), a leading infrastructure construction company with specialized energy and heavy civil expertise, is providing an update on the status of the potential preferred stock financing and merger transactions … Read moreInfrastructure and Energy Alternatives, Inc. Provides an Update on Recently Announced Potential Transactions

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TerraForm Power Announces Proposed Aggregate $700 Million Offering of Senior Notes

October 10, 2019 | Source: TerraForm Power, Inc. NEW YORK, Oct. 10, 2019 (GLOBE NEWSWIRE) — TerraForm Power, Inc. (Nasdaq: TERP) (“TerraForm Power”) today announced that its indirect subsidiary, TerraForm Power Operating, LLC (the “Issuer”), intends to offer, in a private offering, $700 million aggregate principal amount of senior notes to be issued with a maturity of … Read moreTerraForm Power Announces Proposed Aggregate $700 Million Offering of Senior Notes

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Shell urges collaboration with other industries to tackle emissions

Shell Solar Panel

October 9, 2019 Reuters Royal Dutch Shell’s chief executive took aim beyond the energy sector to call on leaders of other industries including aviation, shipping and steel to jointly draw up plans to tackle greenhouse gas emissions. Ben van Beurden also warned on Wednesday that energy companies that do not collaborate in the fight against climate … Read moreShell urges collaboration with other industries to tackle emissions

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Trump’s fast-tracking of oil pipelines hits legal roadblocks

Donald Trump

October 9, 2019 Reuters The Trump administration’s effort to cut red tape and speed up major energy projects has backfired in the case of the three biggest U.S. pipelines now planned or under construction. All three have been stalled by successful legal challenges by environmental groups alleging the administration failed to apply the regulatory scrutiny required … Read moreTrump’s fast-tracking of oil pipelines hits legal roadblocks

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 9, 2019 (Bloomberg) U.S.-China relationship is rapidly deteriorating, Trump vows to stonewall impeachment probe, and the Fed’s not-QE balance sheet expansion. Here are some of the things people in markets are talking about today. Off track An editorial published in Chinese and English in the China Communist Party-run Global Times newspaper emphasized the low … Read moreFive Things to Know in World Business Today

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Big Oil’s Renewable Shift Seen Flooding Investors With Cash

Big Oil

 Oct 8, 2019 (Bloomberg) Shareholders of global oil giants will be “drowned” in cash from dividends and buybacks for the next 20 years as the firms shift their capital structure to finance renewable projects, according to Rystad Energy. Majors such as Exxon Mobil Corp. and Chevron Corp. have traditionally had to hoard cash as they … Read moreBig Oil’s Renewable Shift Seen Flooding Investors With Cash

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Small Ships Are Next Big Thing for $150 Billion LNG Market

By Anna Shiryaevskaya Oct 9, 2019 (Bloomberg)  Giant ocean-going tankers built the liquefied natural gas industry into a $150-billion-a-year business. The next expansion opportunity may come from ships a seventh of the normal size. Fifty-five years after the first commercial LNG tanker sailed from Algeria, this segment of the gas industry is pushing into ever … Read moreSmall Ships Are Next Big Thing for $150 Billion LNG Market

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How U.S. Sanctions on Chinese Ships Are Affecting the Oil Markets

By Serene Cheong, Alex Longley and Catherine Ngai Oct 9, 2019, 2:32 AM Word Count: 806 (Bloomberg) —The turmoil caused by U.S. sanctions on Chinese shipping companies in the global seaborne freight market is now impacting the way oil is purchased and traded. Measures against units of China’s COSCO Shipping Energy Transportation Co., the world’s largest … Read moreHow U.S. Sanctions on Chinese Ships Are Affecting the Oil Markets

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Oil Rises Amid Optimism on Trade Talks, Turkish Military Action

Oil Prices Up

By Elizabeth Low and Alex Longley Oct 9, 2019 (Bloomberg) Oil erased losses amid optimism on trade talks scheduled to take place in Washington and signs of unrest near the border between Turkey and Syria. Futures added as much as 1.3% in New York, after falling in the previous 2 sessions. China remains open to … Read moreOil Rises Amid Optimism on Trade Talks, Turkish Military Action

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Exxon Mobil Weighs Sale of Malaysian Offshore Assets

By Manuel Baigorri and Elffie Chew  Oct 9, 2019 (Bloomberg) Exxon Mobil Corp is considering a sale of its offshore Malaysia upstream assets as part of U.S. energy giant’s divestiture program, according to people with knowledge of the matter. The company is working with an adviser on the potential sale of the Malaysian assets, which … Read moreExxon Mobil Weighs Sale of Malaysian Offshore Assets

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Elizabeth Warren’s Fracking Proposal Has Shale Investors Weighing E&P Risk

By Michael Bellusci Oct 9, 2019 (Bloomberg) The prospect of Elizabeth Warren becoming the 2020 Democratic presidential nominee, or the 46th president of the United States, has energy investors worrying about risks to hydraulic fracturing.“What happens if Elizabeth Warren becomes president and bans fraccing?” was the most common question Sanford C. Bernstein received during recent … Read moreElizabeth Warren’s Fracking Proposal Has Shale Investors Weighing E&P Risk

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Halcón Announces Emergence from Chapter 11 and Appointment of New Chief Operating Officer

October 08, 2019| Source: Halcon Resources Corporation Houston, Oct. 08, 2019 (GLOBE NEWSWIRE) — Halcón Resources Corporation (“Halcón” or the “Company”) is pleased to announce that it has emerged from bankruptcy under Chapter 11 of the US Bankruptcy Code. By successfully completing its financial restructuring, the Company eliminated more than $750 million in debt and more … Read moreHalcón Announces Emergence from Chapter 11 and Appointment of New Chief Operating Officer

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Greta Thunberg touring Dakotas reservations, concerned about Keystone XL pipeline’s path

BY STAFF THE ASSOCIATED PRESS  Greta Thunberg looks on during the Climate Change Rally and March Monday, Oct. 7, 2019 in Rapid City, S.D. . (Adam Fondren/Rapid City Journal via AP) A 16-year-old climate activist who garnered international attention when she scolded world leaders at the United Nations is visiting Indigenous reservations in the U.S. to … Read moreGreta Thunberg touring Dakotas reservations, concerned about Keystone XL pipeline’s path

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 8, 2019 (Bloomberg) China promises to hit back over U.S. tech blacklist, Trump’s Syria move sows confusion, and Johnson prepares for Brexit talks to collapse. Here are some of the things people in markets are talking about today. Not off to a good start Any hopes of a major breakthrough at this … Read moreFive Things to Know in World Business Today

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Big Oil Is Selling Dirty Assets, But They Aren’t Going Away

By Kelly Gilblom Oct 8, 2019 (Bloomberg) When BP Plc announced its historic exit from Alaska, Chief Executive Officer Bob Dudley pointed to an extra perk from the $5.6 billion sale: a significantly lower carbon footprint.Cutting emissions is important for Dudley, partly because influential shareholders are forcing BP to align its spending with climate goals. … Read moreBig Oil Is Selling Dirty Assets, But They Aren’t Going Away

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Oil Falls as U.S.-China Tensions Escalate Before Trade Talks

By Elizabeth Low and Grant Smith Oct 8, 2019 (Bloomberg) Oil fell again, erasing earlier gains, as economic tensions between the U.S. and China flared ahead of talks aimed at resolving their long-running trade feud. Futures in New York slipped as much as 1.7% following news that the White House is considering plans to potentially … Read moreOil Falls as U.S.-China Tensions Escalate Before Trade Talks

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Qatar Seeks Exxon, Shell, Other ‘Big Players’ for Gas Expansion

By Bruce Stanley and Annmarie Hordern Oct 8, 2019 (Bloomberg) Qatar has invited Exxon Mobil Corp., Royal Dutch Shell Plc, Total SA, ConocoPhillips and other “big players” to submit bids to help expand its part of the world’s largest natural gas field, Energy Minister Saad Sherida Al-Kaabi said. The Persian Gulf state will award final … Read moreQatar Seeks Exxon, Shell, Other ‘Big Players’ for Gas Expansion

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Harvest Oil & Gas Announces One-time $7.00 per Share Cash Distribution and Entry into a New Credit Facility

October 08, 2019 | Source: Harvest Oil & Gas Corp. HOUSTON, Oct. 08, 2019 (GLOBE NEWSWIRE) — Harvest Oil & Gas Corp. (OTCQX: HRST) (“Harvest” or the “Company”) today announced that it has declared a one-time cash distribution of $7.00 per share and also entered into a new credit facility. Dividend The Board of Directors has approved … Read moreHarvest Oil & Gas Announces One-time $7.00 per Share Cash Distribution and Entry into a New Credit Facility

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Berry Petroleum Announces Strong Production Growth and Re-Affirms 2019 Annual Production Guidance

October 07, 2019 | Source: Berry Petroleum Company, LLC DALLAS, Oct. 07, 2019 (GLOBE NEWSWIRE) — Berry Petroleum Corporation (NASDAQ: BRY) (“Berry” or the “Company”) announced today preliminary third quarter production results in line with its full-year production guidance. In addition, the company is continuing its commitment to returning value to shareholders through its fixed dividend and … Read moreBerry Petroleum Announces Strong Production Growth and Re-Affirms 2019 Annual Production Guidance

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Baker Hughes, a GE company Announces September 2019 Rig Counts

October 7, 2019 Business Wire HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for September 2019 was 1,131, down 7 from the 1,138 counted in August 2019, and up 127 from the 1,004 counted in September 2018. The international offshore rig count for September 2019 … Read moreBaker Hughes, a GE company Announces September 2019 Rig Counts

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New Permian Oil Pipelines Fail to Deliver Immediate Export Boost

Newly commissioned Permian Basin crude pipelines have yet to boost U.S. crude exports, as the ongoing U.S-China trade war weighs on demand from Asia. The U.S. Census Bureau said exports averaged 2.73 million barrels a day in August, up just 40,000 barrels from a month before. That’s despite the start of two widely anticipated crude … Read moreNew Permian Oil Pipelines Fail to Deliver Immediate Export Boost

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ConocoPhillips Announces 38 Percent Increase in Quarterly Dividend; Expects to Repurchase $3 Billion of Shares in 2020; Reiterates Continued Commitment to Return More Than 30 Percent of Cash From Operations Annually Via Dividend and Buybacks

October 7, 2019 ConocoPhillips (NYSE: COP) today announced an increase in its quarterly dividend of 38 percent, to 42 cents per share. This represents an annualized increase in the dividend of approximately $500 million. The dividend is payable Dec. 2, 2019, to stockholders of record at the close of business on Oct. 17, 2019. The … Read moreConocoPhillips Announces 38 Percent Increase in Quarterly Dividend; Expects to Repurchase $3 Billion of Shares in 2020; Reiterates Continued Commitment to Return More Than 30 Percent of Cash From Operations Annually Via Dividend and Buybacks

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 7, 2019 China tries to manage expectations ahead of trade talks, more whistle-blowers come forward, and Brexit pessimism increases. Here are some of the things people in markets are talking about today. Narrow scope The world’s two largest economies are going into this week’s trade talks with very different views on … Read moreFive Things to Know in World Business Today

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HighPoint Resources Provides Operations Update, including Positive Hereford Field Results and Announces Third Quarter Production at the High End of Guidance Range

October 07, 2019 | Source: HighPoint Resources Corporation DENVER, Oct. 07, 2019 (GLOBE NEWSWIRE) — HighPoint Resources Corporation (“HighPoint” or the “Company”) (NYSE: HPR) today provided an operations update, including positive results from the Hereford Field (“Hereford”) and announces third quarter of 2019 production at the high end of its guidance range. Highlights include: Third quarter production … Read moreHighPoint Resources Provides Operations Update, including Positive Hereford Field Results and Announces Third Quarter Production at the High End of Guidance Range

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Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Provides Third Quarter 2019 Production and Acquisition Update

October 07, 2019 | Source: Viper Energy Partners LP MIDLAND, Texas, Oct. 07, 2019 (GLOBE NEWSWIRE) — Viper Energy Partners LP (NASDAQ:VNOM) (“Viper” or the “Partnership”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today provided an update on production and acquisitions for the third quarter of 2019. HIGHLIGHTS Q3 2019 production of 21,265 boe/d (64% oil), … Read moreViper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Provides Third Quarter 2019 Production and Acquisition Update

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Viper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Launches $400 Million Offering of Senior Notes

October 07, 2019 | Source: Viper Energy Partners LP MIDLAND, Texas, Oct. 07, 2019 (GLOBE NEWSWIRE) — Viper Energy Partners LP (NASDAQ: VNOM) (“Viper”), a subsidiary of Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), announced today that it proposes to offer, subject to market conditions and other factors, $400 million aggregate principal amount of its senior notes … Read moreViper Energy Partners LP, a Subsidiary of Diamondback Energy, Inc., Launches $400 Million Offering of Senior Notes

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Oil Edges Higher as Market Eyes Trade Talks Later This Week

By Elizabeth Low and Alex Longley Oct 7, 2019 (Bloomberg) Oil pared its biggest weekly drop since July ahead of the resumption of U.S.-China trade talks later this week that may sway a cloudy demand outlook. Futures in New York added as much as 0.8% after losing 5.5% last week. Chinese officials are signaling they’re increasingly reluctant … Read moreOil Edges Higher as Market Eyes Trade Talks Later This Week

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Trump Kills a Tariff Loophole in Latest Blow to Renewable Energy

By Brian Eckhouse, Christopher Martin and Ari Natter (Bloomberg)The Trump administration dealt a fresh blow to renewable energy developers on Friday by stripping away an exemption the industry was counting on to weather the president’s tariffs on imported panels.The U.S. Trade Representative said Friday it was eliminating a loophole granted about four months ago for bifacial solar … Read moreTrump Kills a Tariff Loophole in Latest Blow to Renewable Energy

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One of America’s Top Coal States Is Joining a Carbon Market

Coal

By Christopher Martin (Bloomberg) and Keshia Clukey (Bloomberg BNA) Oct 3, 2019 (Bloomberg) Pennsylvania, the heart of the U.S. shale-gas boom and one of the biggest coal-producing states, is joining a carbon market. Governor Tom Wolf on Thursday ordered regulators to come up with a plan by July 31 to regulate emissions from power plants … Read moreOne of America’s Top Coal States Is Joining a Carbon Market

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In the War Against Plastic, America Is a Big Threat: Julian Lee

By Julian Lee Oct 6, 2019 How much do you care about the scourge of plastic waste, and how much more might you pay for a bottled drink in order to reduce it? We may be about to find out.The cost of brand new polyethylene terephthalate, or virgin PET (the stuff used to make plastic containers and fibers for … Read moreIn the War Against Plastic, America Is a Big Threat: Julian Lee

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U.S. oil drillers cut rigs for seventh week in a row

October 4, 2019 U.S. energy firms this week reduced the number of oil rigs operating for a seventh week in a row as producers follow through on plans to cut spending on new drilling this year. Drillers cut 3 oil rigs in the week to Oct. 4, bringing the total count down to 710, the … Read moreU.S. oil drillers cut rigs for seventh week in a row

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India Has 150 Million Drivers and Only 8,000 Want Electric Cars

By Anurag Kotoky Oct 6, 2019 (Bloomberg) —Hyundai Motor Co. launched India’s first electric SUV this summer with a quirky TV commercial urging millennials to “Drive Into the Future.” A few months later, the automaker finds itself on a lonesome road.In a nation of about 150 million drivers, only 130 Kona SUVs were sold to dealers through August. That … Read moreIndia Has 150 Million Drivers and Only 8,000 Want Electric Cars

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 4, 2019 (Bloomberg) It’s jobs day, Trump’s impeachment problem is not going away, and Hong Kong cracks down on protesters. Here are some of the things people in markets are talking about today. Critical number Today’s jobs data may bookend the bad week in markets amid mounting signs of a slowdown coming to … Read moreFive Things to Know in World Business Today

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Oil Set for Biggest Weekly Drop Since July on Demand Pessimism

By Sharon Cho and Alex Longley  Oct 4, 2019 (Bloomberg) Oil headed for its biggest weekly decline since the middle of July as a streak of disappointing economic data added to fears a global recession is coming.Futures in New York edged higher Friday, but are down 5.8% this week. A key measure of American service industry activity … Read moreOil Set for Biggest Weekly Drop Since July on Demand Pessimism

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Shale Jobs Are Drying Up in the Permian Basin

Rig Worker

By David Wethe and Catarina Saraiva Oct 4, 2019 (Bloomberg) — Barry Marks can hear the Permian Basin slowing down. It’s right there on country-music station 96.1 FM in Odessa, Texas, where commercials for shale-patch jobs used to fill the airways. Those kinds of radio ads have fallen by two-thirds, said Marks, the general manager … Read moreShale Jobs Are Drying Up in the Permian Basin

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How to Manage the Decline of a $124 Billion Oil Giant: Chris Hughes

By Chris Hughes Oct 4, 2019 (Bloomberg Opinion) A change at the top is a moment for reappraisal. Bob Dudley, BP Plc’s chief executive officer, rehabilitated the oil major after the fatal Deepwater Horizon rig explosion and spill in the U.S. in 2010. His replacement Bernard Looney, appointed on Friday, should avoid the temptation to … Read moreHow to Manage the Decline of a $124 Billion Oil Giant: Chris Hughes

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Extraction Announces Startup of Elevation Midstream’s Badger Central Gathering Facility and Provides Elevation 2020 Guidance

October 03, 2019  | Source: Extraction Oil & Gas, Inc. DENVER, Oct. 03, 2019 (GLOBE NEWSWIRE) — Extraction Oil & Gas, Inc. (NASDAQ: XOG) (“Extraction”) today announced that Elevation Midstream, LLC (“Elevation”), its wholly-owned subsidiary, has begun moving crude oil, natural gas and water through its Badger central gathering facility (“CGF”). Extraction also provided 2020 capital … Read moreExtraction Announces Startup of Elevation Midstream’s Badger Central Gathering Facility and Provides Elevation 2020 Guidance

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Rattler Midstream, a subsidiary of Diamondback Energy, and Oryx Midstream Announce Joint Acquisition of Reliance Gathering

October 03, 2019  | Source: Rattler Midstream LP MIDLAND, Texas, Oct. 03, 2019 (GLOBE NEWSWIRE) — Rattler Midstream LP (Nasdaq: RTLR) (“Rattler”), a subsidiary of Diamondback Energy, Inc. (Nasdaq: FANG) (“Diamondback”), and Oryx Midstream (“Oryx”), a portfolio company of Stonepeak Infrastructure Partners, announced today that their newly-formed joint venture entity has entered into a definitive purchase … Read moreRattler Midstream, a subsidiary of Diamondback Energy, and Oryx Midstream Announce Joint Acquisition of Reliance Gathering

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Occidental starts up first-of-its-kind solar facility directly powering oil and gas operations

October 03, 2019  | Source: Occidental Occidental also signed a 12-year power purchase agreement to source solar energy for Permian Basin operations Use of solar energy is expected to reduce the cost and carbon intensity of Occidental’s operations HOUSTON, Oct. 03, 2019 (GLOBE NEWSWIRE) — Occidental (NYSE:OXY) today announced the start-up of the company’s first solar facility to … Read moreOccidental starts up first-of-its-kind solar facility directly powering oil and gas operations

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TerraForm Power Announces Public Offering of Common Stock

October 03, 2019  | Source: TerraForm Power, Inc. NEW YORK, Oct. 03, 2019 (GLOBE NEWSWIRE) — TerraForm Power, Inc. (Nasdaq: TERP) (“TerraForm Power”) today announced its intention to offer shares of its Class A common stock (“common stock”) in an underwritten public offering, subject to market conditions. The underwriters may offer the shares from time to … Read moreTerraForm Power Announces Public Offering of Common Stock

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U.S. natgas futures rise as cooler weather view offsets stock build

Natural Gas

October 3, 2019 Reuters U.S. natural gas futures reversed course to turn positive on Thursday as forecasts for cooler weather this month drove expectations of increased demand for the fuel, offsetting a slightly bigger-than-expected storage build. Gas futures for November delivery on the New York Mercantile Exchange rose 2.8 cents, or 1.3%, to $2.275 per million … Read moreU.S. natgas futures rise as cooler weather view offsets stock build

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Permian Methane Mystery Is Focus of Green Group’s New Study

By Simon Casey (Bloomberg)The Permian Basin in Texas and New Mexico is dotted with drilling rigs, crisscrossed by pipelines and produces far more oil than any other part of the U.S. Yet its emissions of a key greenhouse gas are mostly a mystery, one that a non-profit group aims to solve. The Environmental Defense Fund … Read morePermian Methane Mystery Is Focus of Green Group’s New Study

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Shell Takes 20% Stake in Indian Solar Firm Orb Energy

By Jeremy Hodges Oct 2, 2019 (Bloomberg) A Royal Dutch Shell Plc division took a 20% stake in Indian solar firm Orb Energy Pvt Ltd. as part of a drive to deliver a reliable source of electricity to 100 million people in the developing world by 2030. Orb Energy, based in Bengaluru, south India, provides … Read moreShell Takes 20% Stake in Indian Solar Firm Orb Energy

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Macquarie’s Green Bank Embraces ‘Enormous Game’ of Offshore Wind

By William Mathis and Jeremy Hodges Oct 3, 2019 (Bloomberg) One of the world’s biggest investors in renewable energy sees a growing opportunity in offshore wind projects. More certainty from governments about future regulation and the expansion of new floating technology could drastically broaden the opportunities for investors, according to Mark Dooley, global head of … Read moreMacquarie’s Green Bank Embraces ‘Enormous Game’ of Offshore Wind

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As Oil Prices Sink Again OPEC+ Ministers Stick to Their Plan

By Annmarie Hordern, Dina Khrennikova and Olga Tanas Oct 3, 2019 (Bloomberg) As crude prices sink again — completely erasing the surge caused by attacks on Saudi Arabia — OPEC+ ministers acknowledged the growing risks to oil demand but gave no indication of a change in strategy.“Of course, demand is affected by the status of … Read moreAs Oil Prices Sink Again OPEC+ Ministers Stick to Their Plan

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly More weak data adds to investor nerves, U.S. puts tariffs on European exports, and Johnson’s Brexit plan gets some pushback. Here are some of the things people in markets are talking about today. Weakness The tick-tock of disappointing economic indicators continued this morning, with a composite purchasing managers index for the euro area … Read moreFive Things to Know in World Business Today

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U.S. Coal Giant That Pressed Trump for Bailout Faces Default

Coal Train

By Will Wade and Rick Green  Oct 3, 2019 (Bloomberg) Murray Energy Corp., the U.S. coal giant that had pressed the Trump administration for help averting bankruptcy, may be headed toward default. The largest closely held coal miner in America failed to make multiple payments to lenders this week, the company said in a statement on Wednesday. … Read moreU.S. Coal Giant That Pressed Trump for Bailout Faces Default

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Oil Near Two-Month Low on Swelling U.S. Stockpiles, Demand Woes

By Sharon Cho and Grant Smith Oct 3, 2019 (Bloomberg) Oil held near the lowest level in almost two months as American crude inventories expanded the most since May and disappointing U.S. economic data added to pessimism over the demand outlook. Futures fell 1.4% in New York after settling 1.8% lower on Wednesday. U.S stockpiles … Read moreOil Near Two-Month Low on Swelling U.S. Stockpiles, Demand Woes

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Adnoc to Kick Off $5 Billion Gas Pipeline Lease Deal

By Dinesh Nair and Anthony DiPaola Oct 3, 2019 (Bloomberg) Abu Dhabi’s government-owned energy giant has kicked off the potential sale of a stake in its natural gas pipelines, in a deal that could fetch about $5 billion, people with knowledge of the matter said.Abu Dhabi National Oil Co., producer of about a tenth of … Read moreAdnoc to Kick Off $5 Billion Gas Pipeline Lease Deal

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Oct 2, 2019 (Bloomberg) U.S. recession fears rise, Boris Johnson’s big day, and Hong Kong economy hit hard by protests. Here are some of the things people in markets are talking about today. Slowdown Yesterday’s data from the Institute for Supply Management showing its factory index slipped to the lowest since June 2009 has renewed … Read moreFive Things to Know in World Business Today

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OPEC Suffers Another Departure With Ecuador Seeking More Cash

By Stephan Kueffner and Peter Millard Oct 1, 2019 (Bloomberg) OPEC is getting smaller, again.Ecuador said Tuesday it will leave the Organization of Petroleum Exporting Countries in January. For OPEC, the departure matters more in symbolism than barrels — Ecuador is one of its smallest producers, but stated clearly it wants to leave the group to … Read moreOPEC Suffers Another Departure With Ecuador Seeking More Cash

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Oil Steady After Six-Day Slide Amid Tighter Supply, Demand Fears

By Sharon Cho and Grant Smith Oct 2, 2019 (Bloomberg) Oil steadied after sliding for six days in a row as signs of tighter supply in the U.S. and OPEC jostled with ongoing concern that a fragile global economy is eroding fuel demand.Futures held near $54 a barrel in New York after falling 8.6% since … Read moreOil Steady After Six-Day Slide Amid Tighter Supply, Demand Fears

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A Renewable Energy Giant Makes a $1 Billion Bet on Natural Gas

By Brian Eckhouse and David R. Baker Sep 30, 2019 (Bloomberg) One of America’s biggest renewable-energy companies is making a bet on natural gas.NextEra Energy Partners LP agreed to buy Meade Pipeline Co., an owner of a pipeline that provides gas from Pennsylvania, in a deal valued at about $1.37 billion, according to a statement … Read moreA Renewable Energy Giant Makes a $1 Billion Bet on Natural Gas

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T.A. Cook
Gardner Denver
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STEP Energy Services

U.S. shale oil boom ends as lower prices take toll

October 1, 2019 Reuters U.S. oil production growth is decelerating gradually in response to lower prices, which should reduce predicted over-supply in 2020 and force the global oil market back towards balance. Domestic crude production fell 276,000 barrels per day to 11.806 million bpd in July, according to data published by the U.S. Energy Information … Read moreU.S. shale oil boom ends as lower prices take toll

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T.A. Cook
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Five Things to Know in World Business Today

By Lorcan Roche Kelly Oct 1, 2019 (Bloomberg) Japanese bond sell-off goes global, impeachment investigation draws in Trump allies, and more weak European data. Here are some of the things people in markets are talking about today. Bad auction An auction of Japanese 10-year debt drew the lowest bid-to-cover ratio of any since 2016, leading to … Read moreFive Things to Know in World Business Today

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Oil Rebounds After Worst Quarter of 2019, Yet Demand Fears Weigh

Oil Tanker

By Grant Smith and Sharon Cho Oct 1, 2019 (Bloomberg)Oil rose after its biggest quarterly slump of the year, yet ongoing concerns that a faltering global economy will erode demand continued to weigh on the market.Futures increased 1.1% in New York, having tumbled 7.5% in the past three months as Saudi Arabia fully restored its output following … Read moreOil Rebounds After Worst Quarter of 2019, Yet Demand Fears Weigh

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Aramco Fully Restores Oil Output as It Recovers From Attacks

By Anthony DiPaola and Manus Cranny Sep 30, 2019 (Bloomberg) Saudi Aramco is producing more than 9.9 million barrels a day of crude as it fully recovers from the worst-ever attacks on its energy infrastructure.Output reached that level on Sept. 25 and is a “little bit” higher now, Ibrahim Al-Buainain, chief executive officer of state-owned … Read moreAramco Fully Restores Oil Output as It Recovers From Attacks

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Chaparral Energy Reaffirms $325 Million Borrowing Base

September 30, 2019 | Source: Chaparral Energy Inc OKLAHOMA CITY, Sept. 30, 2019 (GLOBE NEWSWIRE) — Chaparral Energy, Inc. (NYSE: CHAP) announced today the company’s bank group has completed its regularly scheduled fall borrowing base redetermination and reaffirmed the borrowing base at $325 million. As of June 30, 2019 the company had approximately $33 million in cash … Read moreChaparral Energy Reaffirms $325 Million Borrowing Base

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T.A. Cook
Gardner Denver
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STEP Energy Services

Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Sep 30, 2019 (Bloomberg) White House downplays report on China investment limits, Saudi Arabia doesn’t want war with Iran, and Boris Johnson has more problems. Here are some of the things people in markets are talking about today. Qualified denial Officials from the Trump administration issued a partial — and qualified — denial to the revelation that … Read moreFive Things to Know in World Business Today

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Oil Set for Quarterly Loss as Demand Fears Offset Saudi Strike

Oil Pump

By Grant Smith Sep 30, 2019 (Bloomberg) Oil headed for its weakest quarter since late last year as fears over the global economy and fuel demand overshadowed this month’s unprecedented attack on Saudi Arabia’s energy facilities. Brent futures have slumped about 8% since the end of June as a brief spike following the strikes on … Read moreOil Set for Quarterly Loss as Demand Fears Offset Saudi Strike

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Americans Fear Climate Change but also the Cost of Fighting It: Noah Smith

By Noah Smith Sep 30, 2019 (Bloomberg Opinion) More people are coming around to the idea that climate change is really bad news. A recent Washington Post poll found that 38% of Americans now consider climate change a crisis, with another 38% calling it a major problem. And denialism is in retreat — an overwhelming majority, and … Read moreAmericans Fear Climate Change but also the Cost of Fighting It: Noah Smith

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BP Is Striking Out in a Hotspot for Offshore Oil Exploration

By Peter Millard and Kelly Gilblom Sep 30, 2019 (Bloomberg) It was supposed to be BP Plc’s big Brazilian breakthrough after years of setbacks in one of the world’s top destinations for offshore oil. The potential bonanza is still out of reach, two years after the London-based major teamed up with Brazil’s national oil company … Read moreBP Is Striking Out in a Hotspot for Offshore Oil Exploration

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Gardner Denver
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BP’s Dudley Drawing Up Plans to Step Down Within 12 Months, Sky Says

By Thomas Buckley  Sep 28, 2019 (Bloomberg) BP Plc Chief Executive Officer Bob Dudley, who took the helm after the 2010 Deepwater Horizon oil spill crisis and has led the energy giant for almost a decade, is preparing to leave the company within a year, according to a Sky News report. Dudley, 64, has had … Read moreBP’s Dudley Drawing Up Plans to Step Down Within 12 Months, Sky Says

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WEBINAR: How AI driven visual monitoring is revolutionizing how companies manage remote assets in oil and gas – Osprey Informatics

Osprey Logo - December 2018 Update Feature

This brief 30-minute presentation will provide concrete examples on how oil & gas companies can manage their remote distributed assets through AI assisted exception-based alerting, accelerating cost savings and increasing efficiencies while mitigating safety and environmental risks. For more information and to RSVP, Please click here.

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T.A. Cook
Gardner Denver
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Presto GeoSystems

U.S. drillers cut oil rigs for record 10 straight months -Baker Hughes

Sept 27 (Reuters) U.S. energy firms reduced the number of oil rigs this week and for a record 10th month in a row as producers follow through on plans to cut spending on new drilling this year. Drillers cut six oil rigs in the week to Sept. 27, bringing the total count down to 713, … Read moreU.S. drillers cut oil rigs for record 10 straight months -Baker Hughes

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T.A. Cook
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Oil Caps Worst Week Since July as Trump Revs Up China Trade Feud

By Sheela Tobben Sep 27, 2019 (Bloomberg) Oil in New York capped its worst week since July as U.S. President Donald Trump’s administration escalated trade tensions with China in a protracted dispute that’s imperiled world energy demand.Futures fell almost 1% Friday after seesawing earlier. In the latest salvo in the trade war between the world’s … Read moreOil Caps Worst Week Since July as Trump Revs Up China Trade Feud

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Gardner Denver
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Nearly Every Alaskan Will Get $1,606 Oil Check

ANCHORAGE, Alaska — Nearly every Alaska resident will be $1,606 richer next week when they get their share of the state’s oil wealth. The Alaska Department of Revenue announced the amount of this year’s check in a release Friday. It said nearly 631,000 Alaskans will receive the check, starting with disbursements Thursday. The total amount … Read moreNearly Every Alaskan Will Get $1,606 Oil Check

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

Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Sep 27, 2019 (BloombergTrump’s comments fuel impeachment probe, more warning signs for Europe’s economy, and little hope for a Brexit breakthrough. Here are some of the things people in markets are talking about today. Close to a spy President Donald Trump’s recorded comments at a closed-door gathering with U.S. diplomats seem set … Read moreFive Things to Know in World Business Today

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T.A. Cook
Gardner Denver
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Cheap Hotel Rooms in Texas Are a Bad Sign for Frackers: Liam Denning

By Liam Denning Sep 26, 2019 (Bloomberg Opinion) How bad are things in the Permian basin? You can actually book a hotel room in Midland, Texas, at a reasonable price.A finance source I speak with contacted me this week with the news they were paying $250 a night for their room at a decent hotel … Read moreCheap Hotel Rooms in Texas Are a Bad Sign for Frackers: Liam Denning

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Gardner Denver
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Gas Pipeline IPO Put on Ice After Court Thwarts Plan

Gas Pipeline

By Rachel Adams-Heard and Michael Leonard  Sep 26, 2019 (Bloomberg) A potential initial public offering of a U.S. pipeline company faces a new hurdle after a Delaware court said its private equity backer must make changes before the share sale can proceed.In a decision Wednesday, the Delaware Court of Chancery said EnCap Flatrock Midstream can’t … Read moreGas Pipeline IPO Put on Ice After Court Thwarts Plan

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Oil Slides After Report of Partial Saudi Cease-Fire in Yemen

By Heesu Lee and Alex Longley Sep 27, 2019 (Bloomberg) Oil fell after a report that Saudi Arabia has moved to impose a partial cease-fire in Yemen, bringing hope of easing tensions in the Middle East. Futures declined as much as 1.5% in New York. Saudi Arabia has agreed to a cease-fire in four areas … Read moreOil Slides After Report of Partial Saudi Cease-Fire in Yemen

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U.S. Economy Cools as Consumer Spending Misses Forecasts

By Reade Pickert Sep 27, 2019 (Bloomberg) The U.S. economy cooled in August as Americans spent less than projected and companies cut capital-equipment orders, with below-forecast prices also adding to concerns that may support the case for further Federal Reserve easing. Treasury yields pared gains. Consumer spending on goods and services, which accounts for about … Read moreU.S. Economy Cools as Consumer Spending Misses Forecasts

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Pemex’s Head of Crude Oil Trading Leaves Amid Pricing Review

By Amy Stillman, Eric Martin and Lucia Kassai Sep 27, 2019 (Bloomberg) Petroleos Mexicanos’s head of crude oil trading Victor Briones has left the company, people familiar with the matter said Thursday. Briones, who worked for two decades at PMI, the trading arm of Mexico’s state-owned oil company, left amid an external review of new … Read morePemex’s Head of Crude Oil Trading Leaves Amid Pricing Review

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Gardner Denver
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Vestas to Cut 590 Jobs as It Scales Down Part of Wind Business

By Morten Buttler Sep 27, 2019 (Bloomberg) Vestas Wind Systems A/S is scaling back part of its business to adjust to market demand and will cut about 590 jobs as part of the strategy. “To meet the manufacturing requirements of our changing product portfolio,” which includes its EnVentus platform and 4 MW platform variants, Vestas … Read moreVestas to Cut 590 Jobs as It Scales Down Part of Wind Business

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CEO Who Battled Activists for Years May Now Face His Reckoning

By David Wethe Sep 26, 2019 (Bloomberg) Gary Heminger has been fighting shareholder activists for almost as long as Marathon Petroleum Corp. has existed. Now he may be fighting for his job. Heminger, whose compensation as chairman and chief executive officer exceeds his counterpart’s at Exxon Mobil Corp., has been at the helm while Marathon … Read moreCEO Who Battled Activists for Years May Now Face His Reckoning

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Gardner Denver
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Future Technology Will Solve Climate Change – Will It? Leonid Bershidsky

By Leonid Bershidsky and Tobin Harshaw Sep 25, 2019, 10:00 PM (Bloomberg Opinion) —On climate change, leaders have a tendency to make lofty long-term promises but take only baby steps to reach them. At the United Nations climate summit, German Chancellor Angela Merkel gave an interesting explanation for why: They believe technology eventually will pick … Read moreFuture Technology Will Solve Climate Change – Will It? Leonid Bershidsky

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T.A. Cook
Gardner Denver
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Climate Summit Update: Millions Demanded Climate Action and World Leaders Came Up Short

By Will Wade and Eric Roston  Sep 26, 2019 (Bloomberg) Millions of people in 170 countries took to the streets to protest. World leaders lined up at the United Nations to pledge action. A 16-year-old girl, close to tears, shamed them for robbing her of a future.The pressure to act on climate change is mounting. … Read moreClimate Summit Update: Millions Demanded Climate Action and World Leaders Came Up Short

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T.A. Cook
Gardner Denver
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Oil Drops as Investors Weigh Saudi Recovery Against Trade Hope

By Alex Longley  Sep 26, 2019 (Bloomberg) Oil fell as investors weighed Saudi Arabia’s quicker-than-expected recovery from the biggest attacks ever on its energy industry against prospects of a thaw in the U.S.-China trade war.Futures dipped 0.7% in New York after sliding 3.7% over the previous two sessions. Saudi Arabia has boosted production capacity to more than … Read moreOil Drops as Investors Weigh Saudi Recovery Against Trade Hope

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T.A. Cook
Gardner Denver
STEP Energy Services
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JPMorgan Likes Energy Stocks and Wonders Why Others Don’t

US Stocks raise

By Joanna Ossinger Sep 26, 2019 (Bloomberg) Can it finally be energy stocks’ time to shine? JPMorgan Chase & Co. thinks so. The U.S. energy industry features the second-worst performing group of stocks in the S&P 500 this year, up 5.3% compared with an advance of 19% for the broader gauge. That’s despite love from Wall … Read moreJPMorgan Likes Energy Stocks and Wonders Why Others Don’t

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

Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly  Sep 26, 2019 (Bloomberg) Trump not out of the woods on impeachment, oil traders rattled by U.S. ship sanctions, and Europe’s money laundering scandal widens. Here are some of the things people in markets are talking about today. Backfiring The release of a rough transcript of the July call between President Donald Trump and … Read moreFive Things to Know in World Business Today

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

New technology moves Canadian oilsands bitumen in shipping container to West Coast

CALGARY — Melius Energy says it has successfully tested a new technology that allows oilsands bitumen to be shipped as a semi-solid product in six-metre-long shipping containers. The Calgary-based company says it moved 130 barrels of bitumen treated with the BitCrude process from Edmonton to Prince Rupert, B.C., by intermodal rail. President Nicole Zhang says the … Read moreNew technology moves Canadian oilsands bitumen in shipping container to West Coast

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

VAALCO Energy, Inc. Admission to Trading and First Day of Dealings

September 26, 2019 | Source: VAALCO Energy, Inc. HOUSTON, Sept. 26, 2019 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY), (“VAALCO” or the “Company”), an independent energy company focused on development and production assets in West Africa, is pleased to announce that its common shares (“Common Shares”) will be admitted to the standard listing segment … Read moreVAALCO Energy, Inc. Admission to Trading and First Day of Dealings

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Gardner Denver
T.A. Cook
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Halcón Announces Court Confirmation of Prepackaged Plan of Reorganization

September 25, 2019 | Source: Halcon Resources Corporation Houston, Sept. 25, 2019 (GLOBE NEWSWIRE) — Halcón Resources Corporation (OTC PINK: HKRS) (“Halcón” or the “Company”) announced that the United States Bankruptcy Court for the Southern District of Texas confirmed the Company’s prepackaged plan of reorganization (the “Plan”) under chapter 11 of the Bankruptcy Code and expects to … Read moreHalcón Announces Court Confirmation of Prepackaged Plan of Reorganization

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Gardner Denver
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Japan to invest $10 bln in global LNG infrastructure projects – minister

September 25, 2019 Reuters Japan and its private sector firms will invest $10 billion on liquefied natural gas (LNG) projects worldwide, the country’s industry minister said on Thursday, in a strategy to boost the global LNG market and reinforce the security of energy supply.The move, doubling a commitment by Japan two years ago to bolster energy … Read moreJapan to invest $10 bln in global LNG infrastructure projects – minister

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T.A. Cook
Gardner Denver
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MDM Permian, Inc. Announces Agreement To Obtain Permian Leases

September 24, 2019  | Source: MDM Permian, Inc. Management Acquires 2 Leases, 4 Wells, Options On Four Land Sections ADDISON, Texas, Sept. 24, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE – MDM Permian, Inc. (OTC: MDMP) is pleased to announce that it has entered into an agreement for the acquisition of four (4) Canyon Sand wells … Read moreMDM Permian, Inc. Announces Agreement To Obtain Permian Leases

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

Carbon Taxes Won’t Do Enough to Slow Global Warming: Noah Smith

By Noah Smith With crowds taking to the streets to call for action on climate change and activists haranguing the United Nations, the issue of global warming is once again front and center. The equivocation of former years seems belatedly to be giving way to a general realization that something must be done. The effort will be sweeping and global, and … Read moreCarbon Taxes Won’t Do Enough to Slow Global Warming: Noah Smith

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

Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Sep 25, 2019 Impeachment inquiry, Johnson back in Parliament, and Aramco IPO may be finally going ahead. Here are some of the things people in markets are talking about today. Investigation House Speaker Nancy Pelosi announced a formal impeachment inquiry of President Donald Trump, a move which is likely to dominate national politics … Read moreFive Things to Know in World Business Today

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T.A. Cook
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Enbridge receives permit for Michigan underwater supports on Line 5 oil pipeline

September 24, 2019 Reuters Canadian pipeline company Enbridge Inc said on Tuesday it has received a permit from the U.S. Army Corps of Engineers to install 54 steel supports along its underwater Line 5 pipeline in Michigan’s Straits of Mackinac. Line 5 ships 540,000 barrels per day of light crude oil and propane and is … Read moreEnbridge receives permit for Michigan underwater supports on Line 5 oil pipeline

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Gardner Denver
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Electric Car Owners May Not Love Solar Panels So Much After All

By Nic Querolo Sep 24, 2019 (Bloomberg) The overlap between consumers who buy electric vehicles and those who want solar panels on their roofs may not be so broad after all. While conventional wisdom has long held that EV drivers prefer to charge cars with clean energy, surveys that fed that belief targeted early adopters … Read moreElectric Car Owners May Not Love Solar Panels So Much After All

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Gardner Denver
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Big Oil Tussles With Teens, Tweets and Trust: Liam Denning

Big Oil

By Liam Denning Sep 24, 2019 (Bloomberg Opinion) In capital markets, trust boils down to – what else? – money. The more trusted you are, the more money investors will give you at a relatively low cost. Trust is in the eye of the beholder, of course. The U.S. government borrows fantastical sums at next to nothing, … Read moreBig Oil Tussles With Teens, Tweets and Trust: Liam Denning

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

California’s Drivers May Soon Be Paying $4 a Gallon for Gasoline

By Jeffrey Bair Sep 25, 2019(Bloomberg) California drivers may soon pay $4 a gallon at the pump after refinery upsets pushed up the wholesale market in San Francisco to the strongest level in almost seven years. San Francisco spot gasoline traded at its highest premium to futures since 2012 and Los Angeles was the highest … Read moreCalifornia’s Drivers May Soon Be Paying $4 a Gallon for Gasoline

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

Oil Declines as Saudi Arabia Restores Capacity Ahead of Schedule

Oil extended declines as Saudi Arabia was said to be ahead of schedule in restoring its output capacity. Futures lost as much as 1.5% in New York after dropping 2.3% on Tuesday. Saudi Aramco’s production capacity now exceeds 11 million barrels a day, beating a self-imposed deadline by about a week, according to people with knowledge of … Read moreOil Declines as Saudi Arabia Restores Capacity Ahead of Schedule

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T.A. Cook
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Saudi Oil Capacity Recovers Faster Than Expected From Attack

By Anthony DiPaola Sep 25, 2019 (Bloomberg) Saudi Arabia is recovering faster than expected from the biggest attacks ever on its oil industry, beating its own target for restoring capacity by about a week. State oil producer Saudi Aramco has boosted total production capacity to more than 11 million barrels a day, according to people … Read moreSaudi Oil Capacity Recovers Faster Than Expected From Attack

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T.A. Cook
Gardner Denver
STEP Energy Services
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Petroteq Announces Recommencement of Production at Asphalt Ridge Facility

September 24, 2019 | Source: Petroteq Energy Inc. SHERMAN OAKS, Calif., Sept. 24, 2019 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), a fully integrated surface oil sands clean recovery mining oil company with proprietary technology, is pleased to announce that the Company has recommenced production today from the Asphalt Ridge … Read morePetroteq Announces Recommencement of Production at Asphalt Ridge Facility

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

Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Sep 24, 2019 (Bloomberg) China grants new waivers on U.S. agricultural purchases, Boris Johnson loses in Supreme Court, and Trump’s Ukraine problems are not going away. Here are some of the things people in markets are talking about today. More relief Chinese authorities granted companies waivers to buy between 2 and 3 … Read moreFive Things to Know in World Business Today

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

Oil Slips on Signs of Returning Saudi Output as Doubts Linger

By Heesu Lee and Alex Longley Sep 24, 2019 (Bloomberg) Oil edged lower on signs Saudi Arabia is making progress in restoring lost output even as uncertainty remains about the kingdom’s ability to meet its timeline of a full return by the end of the month.Futures dropped 1% in New York after rising 1% on … Read moreOil Slips on Signs of Returning Saudi Output as Doubts Linger

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Gardner Denver
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Big Oil CEOs Talk Climate Change, Methane and Why They Need Gas: Climate Week Update

Natural Gas

By Simon Casey and Naureen S. Malik Sep 24, 2019 (Bloomberg) One of the opening events of Climate Week in New York offered a rare sight — nine bosses of some of the world’s largest oil and gas companies in one room.The occasion was the Oil and Gas Climate Initiative, an industry-supported organization whose members set … Read moreBig Oil CEOs Talk Climate Change, Methane and Why They Need Gas: Climate Week Update

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

NRG Energy Accelerates Carbon Reductions: Climate Week Update

By Nic Querolo, Christopher Martin and Will Wade Sep 24, 2019 (Bloomberg) Climate Week is underway. That means some the globe’s most powerful corporate leaders are making pledges to be greener as heads of state gather in New York to discuss ways to stop the planet from warming.The main event was held on Monday at … Read moreNRG Energy Accelerates Carbon Reductions: Climate Week Update

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Gardner Denver
T.A. Cook
Presto GeoSystems
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The World’s Oil Security Blanket Has Been Torched: Julian Lee

By Julian Lee Sep 22, 2019 (Bloomberg Opinion) The real impact of the attack on Saudi oil installations last weekend goes well beyond the temporary loss of 5% of global oil production: It strikes at the heart of the mechanism that’s guaranteed the security of the world’s crude supply for most of the past 50 years.Ever since the … Read moreThe World’s Oil Security Blanket Has Been Torched: Julian Lee

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Gardner Denver
T.A. Cook
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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Sep 23, 2019 (Bloomberg) “Constructive” trade talks, more bad news for Europe’s economy, and a raft of corporate news. Here are some of the things people in markets are talking about today. Farm relief The news that a Chinese trade delegation cancelled a planned visit to U.S. farms on Friday caused an outbreak of … Read moreFive Things to Know in World Business Today

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Saudi Oil to Return to Full Production by September, Aramco Vows

By Anthony DiPaola (Bloomberg)  Saudi Aramco reiterated its commitment to bringing production back to its full capacity by the end of the month. The company will restore 5.7 million barrels per day, said Chief Executive Officer Amin Nasser, the amount that was knocked out by recent attacks on the kingdom’s oil facilities. “We will continue … Read moreSaudi Oil to Return to Full Production by September, Aramco Vows

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Big Oil Prepares to Defend Big Gas as Climate Week Begins

Natural Gas

By Kevin Crowley Sep 22, 2019 (Bloomberg) Championed by Big Oil as the fastest way to reduce emissions and reviled by environmentalists who say the world needs to ditch all fossil fuels — the debate over natural gas may be one of the controversial aspects of climate change.The arguments will get an airing as politicians, … Read moreBig Oil Prepares to Defend Big Gas as Climate Week Begins

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Oil Drops Amid Conflicting Reports About Speed of Saudi Recovery

By Rakteem Katakey Sep 23, 2019 (Bloomberg) Oil fell as traders weighed conflicting reports on whether Saudi Arabia will succeed in restoring its lost production by the end of this month, while concerns over demand returned following gloomy European data.Brent crude fell 0.5%, reversing earlier gains. Saudi Arabia, which has reiterated it will bring back all lost … Read moreOil Drops Amid Conflicting Reports About Speed of Saudi Recovery

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Petroteq Announces Closing of Financings

September 20, 2019 | Source: Petroteq Energy Inc. NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. SHERMAN OAKS, Calif., Sept. 20, 2019 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), a fully integrated … Read morePetroteq Announces Closing of Financings

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VAALCO Energy, Inc. Publication of Prospectus

September 23, 2019  | Source: VAALCO Energy, Inc. HOUSTON, Sept. 23, 2019 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE: EGY, LSE: EGY) (“VAALCO” or the “Company”), an independent energy company focused on development and production assets in West Africa, is pleased to announce that the Prospectus for the dual listing of the Company’s common shares (“Common … Read moreVAALCO Energy, Inc. Publication of Prospectus

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U.S. oil drillers cut rigs to lowest since May 2017 -Baker Hughes

September 20, 2019 Reuters U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to the lowest since May 2017, even as crude prices jumped more than 7% this week after an attack halved output in the world’s top oil exporter Saudi Arabia.Drillers cut 14 oil rigs … Read moreU.S. oil drillers cut rigs to lowest since May 2017 -Baker Hughes

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California Sues U.S. to Regain Power Over Auto Emissions

By Andrew Harris, Ryan Beene and Jennifer A. Dlouhy Sep 20, 2019 (Bloomberg) California is asking a federal court to prevent President Donald Trump from stripping the state of its power to set limits on auto emissions of greenhouse gases that are stricter than those of the national government and encourage more electric-vehicle use. In … Read moreCalifornia Sues U.S. to Regain Power Over Auto Emissions

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Oil Hub Houston Begins Cleanup After Imelda Drops Almost 4 Feet of Rain

By Jeffrey Bair and Brian K. Sullivan Sep 20, 2019 (Bloomberg) Imelda’s rains have largely left Houston, but the city and the surrounding region are reeling from the fallout. Much of the area remains flooded, with homes and businesses damaged, hundreds of abandoned cars left on highways, water systems compromised and at least two people … Read moreOil Hub Houston Begins Cleanup After Imelda Drops Almost 4 Feet of Rain

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Blackstone, Apollo Are Said to Eye Western Midstream Stake

By Kiel Porter Sep 19, 2019 (Bloomberg) Blackstone Group Inc. and Apollo Global Management Inc. are interested in bidding for a majority stake in Western Midstream Partners LP being sold by Occidental Petroleum Corp., according to people familiar with the matter. Global Infrastructure Partners and KKR & Co. are also interested, said the people, who asked … Read moreBlackstone, Apollo Are Said to Eye Western Midstream Stake

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Permian Hotspot Tracks Methane as Oil Boom Spurs Climate Concern

By Naureen S. Malik Sep 20, 2019 (Bloomberg) New Mexico is turning to satellites and artificial intelligence to track methane emissions as soaring oil and natural gas production from the Permian Basin stokes concern about climate change. The southwestern state will use a model being developed by Descartes Labs to map and quantify how much … Read morePermian Hotspot Tracks Methane as Oil Boom Spurs Climate Concern

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Five Things to Know in World Business Today

World Business

By Laura Curtis Sep 20, 2019 (Bloomberg) It’s all repo madness, rogue trading, and Brexit hype hope.  Here are some of the things people in markets are talking about today. Repo madness Pressure is mounting on the Federal Reserve to take more aggressive steps to address stress in U.S. funding markets as swap spreads tumbled to record lows Thursday. The New York … Read moreFive Things to Know in World Business Today

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For the First Time, Wind Power Is About to Surpass Coal in Texas

Wind Turbines

By Will Wade Sep 19, 2019 (Bloomberg) Wind power in Texas is about to blow past coal for the first time. Turbines in the Lone Star State are forecast to generate 87 terawatt-hours of electricity in 2020, according to a report Thursday from Rystad Energy. That will exceed the roughly 84 terawatt-hours next year from coal plants. … Read moreFor the First Time, Wind Power Is About to Surpass Coal in Texas

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Oil Posts Biggest Weekly Gain in Eight Months After Saudi Attack

By Sheela Tobben Sep 20, 2019 (Bloomberg) Oil edged lower on Friday but still posted the biggest weekly gain in months, days after an attack on a key Saudi Arabian facility roiled markets.Brent rose 6.7% this week, the largest weekly gain since January, while West Texas Intermediate oil registered the biggest weekly rise since June. … Read moreOil Posts Biggest Weekly Gain in Eight Months After Saudi Attack

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The World’s Biggest Offshore Wind Farm Will Be as Cheap as Coal

By William Mathis Sep 20, 2019 (Bloomberg) The world’s biggest offshore wind park planned off the coast of England will probably in the next decade generate power cheaper than by burning coal. A number of offshore wind projects won contracts to sell power at guaranteed prices in a U.K. auction Friday. The price of 39.65 … Read moreThe World’s Biggest Offshore Wind Farm Will Be as Cheap as Coal

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U.S. natgas futures fall over 3% on bigger-than-expected storage build

September 19, 2019 Reuters U.S. natural gas futures fell more than 3% from a near five-month high on Thursday following the release of a report showing a bigger-than-expected storage build. The U.S. Energy Information Administration (EIA) said utilities added 84 billion cubic feet (bcf) of gas to storage during the week ended Sept. 13. That was … Read moreU.S. natgas futures fall over 3% on bigger-than-expected storage build

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Aramco Said to Trade Crude Normally Without Buying More Iraq Oil

By Anthony DiPaola, Khalid Al-Ansary and Will Kennedy Sep 19, 2019 (Bloomberg) Saudi Arabia’s state energy producer is trading crude produced outside the country as normal and is not currently seeking to buy additional barrels from Iraq’s state oil marketer, according to people with knowledge of the companies’ operations. Armed drones and missiles attacked Saudi … Read moreAramco Said to Trade Crude Normally Without Buying More Iraq Oil

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Sep 19, 2019 (Bloomberg) Fed move puts inversion back on the radar, a raft of central-bank decisions, and the OECD cuts global outlook. Here are some of the things people in markets are talking about today. Divided, they fall The Federal Reserve’s 25 basis-point interest rate cut yesterday was accompanied by forecasts that showed officials were … Read moreFive Things to Know in World Business Today

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Solar and Wind Power So Cheap They’re Outgrowing Subsidies

By Mark Chediak and Brian Eckhouse Sep 19, 2019 (Bloomberg) For years, wind and solar power were derided as boondoggles. They were too expensive, the argument went, to build without government handouts. Today, renewable energy is so cheap that the handouts they once needed are disappearing. On sun-drenched fields across Spain and Italy, developers are … Read moreSolar and Wind Power So Cheap They’re Outgrowing Subsidies

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Oil Rises Amid Doubts About Speed of Saudi Recovery From Attacks

Oil-Prices-Up

By Grant Smith Sep 19, 2019 (Bloomberg) Oil rose amid doubts about the speed of Saudi Arabia’s recovery from the weekend’s attack on its facilities that knocked out a large chunk of its production.Futures gained 2.1% in New York after paring around half of Monday’s 15% surge over the past two days. The Saudis asked … Read moreOil Rises Amid Doubts About Speed of Saudi Recovery From Attacks

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Bezos to Speak on Sustainability Ahead of Global Climate Protest

By Matt Day Sep 19, 2019 (Bloomberg) Jeff Bezos is holding a press conference on Amazon.com Inc.’s sustainability efforts on Thursday, a day before workers around the world — including more than 1,000 of his own employees — are scheduled to walk out to spotlight climate change. Amazon’s founder and chief executive offer is scheduled … Read moreBezos to Speak on Sustainability Ahead of Global Climate Protest

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Trump bars California from setting stricter fuel standards

Donald Trump

WASHINGTON — President Donald Trump announced Wednesday that his administration is revoking California’s authority to set auto mileage standards stricter than those issued by federal regulators, a move critics said would result in less fuel efficient cars that create more planet-warming pollution. In a tweet, Trump said his action would result in less expensive, safer … Read moreTrump bars California from setting stricter fuel standards

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World’s Biggest Wind Turbines Coming to U.S. Waters, Care of GE

By Christopher Martin Sep 19, 2019 (Bloomberg) The tallest, most powerful wind turbines ever made are coming to U.S. waters care of General Electric Co. Denmark-based Orsted A/S plans to use 12-megawatt turbines made by GE for projects off the coast of Maryland and New Jersey, according to a statement from the companies Thursday. The … Read moreWorld’s Biggest Wind Turbines Coming to U.S. Waters, Care of GE

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Extraction Oil & Gas, Inc. Announces the Appointment of Audrey Robertson to its Board of Directors

September 18, 2019 | Source: Extraction Oil & Gas, Inc. DENVER, Sept. 18, 2019 (GLOBE NEWSWIRE) — Extraction Oil & Gas, Inc. (NASDAQ: XOG) (“Extraction”) today announced that its Board of Directors has appointed Audrey Robertson to serve as an independent member of the Company’s Board. Ms. Robertson will serve as a member of the Audit … Read moreExtraction Oil & Gas, Inc. Announces the Appointment of Audrey Robertson to its Board of Directors

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Rosehill Resources Inc. Provides Operational Update

Recent Production Surpasses 22,000 BOEPD September 19, 2019 | Source: Rosehill Resources Inc. HOUSTON, Sept. 19, 2019 (GLOBE NEWSWIRE) — Rosehill Resources Inc. (“Rosehill” or the “Company”) (NASDAQ: ROSE, ROSEW, ROSEU) today provided an operational update for recent activity as well as expected production for the quarter ending September 30, 2019. Highlights Placed onto production nine wells … Read moreRosehill Resources Inc. Provides Operational Update

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Trump Seeks New Iran Sanctions as Pompeo Consults Saudi Arabia

By Nick Wadhams, Glen Carey and Josh Wingrove Sep 18, 2019 (Bloomberg) President Donald Trump said he wants tougher U.S. sanctions on Iran as his top diplomat arrived in Saudi Arabia to consult with leaders and build a case against Tehran following weekend attacks on the kingdom’s key oil facilities. “We’ll be adding some very … Read moreTrump Seeks New Iran Sanctions as Pompeo Consults Saudi Arabia

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Commentary: The Positives That Drove the U.S. Economy Are at Risk

By Conor Sen  Sep 18, 2019   (Bloomberg Opinion) For the past few decades, the U.S. economy has benefited from more immigration, more trade, lower taxes and increased domestic oil production, especially because of fracking. These trends coincided with declining inflation and favorable conditions for consumers, investors and companies (although a downside was rising inequality … Read moreCommentary: The Positives That Drove the U.S. Economy Are at Risk

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Five Things to Know in World Business Today

World Business

By Laura Curtis Sep 18, 2019 (Bloomberg) It’s decision day at the Fed, money markets are set to get another cash infusion, and Iran passed a note to America. Here are some of the things people in markets are talking about today. Fed day The Federal Reserve is widely expected to reduce interest rates by a … Read moreFive Things to Know in World Business Today

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Every U.S. Grid Is Getting Greener, Except the One That Matters

Natural Gas

By Brian Eckhouse and Naureen Malik Sep 18, 2019 (Bloomberg) Every major U.S. electricity grid is getting greener. Except for the massive one serving half of the people in the country. That’s just as problematic as it sounds for the policymakers, power providers and climate activists looking to wean Americans off fossil fuels. While members of … Read moreEvery U.S. Grid Is Getting Greener, Except the One That Matters

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Saudi Arabia Joins U.S.-Led Coalition to Protect Oil Shipping

By Abbas Al Lawati Sep 17, 2019 (Bloomberg) Saudi Arabia joined a U.S.-led coalition to secure sea lines vital to oil shipping in the Middle East in the aftermath of a devastating attacks on Aramco’s oil facilities. The International Maritime Security Construct’s area of operation covers the Strait of Hormuz, the world’s most critical waterway for … Read moreSaudi Arabia Joins U.S.-Led Coalition to Protect Oil Shipping

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Wall Street’s New Battleground Is $136 Billion Green-Bond Market

By Alice Gledhill and Alexander Weber Sep 18, 2019 (Bloomberg) Wall Street’s race is on for dominance in the fast-growing business of turning back climate change.HSBC Holdings Plc, Citigroup Inc. and Bank of America Corp. have helped power an unprecedented surge in sales of “green” bonds, which are used to finance everything from wind farms to … Read moreWall Street’s New Battleground Is $136 Billion Green-Bond Market

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Oil Stabilizes as Saudi Output Restoration Calms Market Fears

By Saket Sundria Sep 18, 2019 (Bloomberg) Oil stabilized on signs Saudi Arabia is quickly restoring production following a debilitating weekend attack, after two tumultuous days in which it surged the most on record and then pared almost half of that gain.Brent slid on Wednesday, having tumbled the previous day as Saudi Aramco said it had revived … Read moreOil Stabilizes as Saudi Output Restoration Calms Market Fears

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Saudi Oil Attack Damages Kingdom’s Role as Guardian of Market

By Grant Smith Sep 18, 2019 (Bloomberg) Saudi Arabia is fixing its energy infrastructure and restoring crude production, but the weekend’s attacks may have done irreparable damage to one of the kingdom’s greatest assets — its role as guardian of global oil markets. For decades, Riyadh has kept a buffer of spare production capacity that was used … Read moreSaudi Oil Attack Damages Kingdom’s Role as Guardian of Market

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Saudi Arabia Partially Restores Output at Damaged Oil Plant

By Anthony DiPaola Sep 17, 2019 (Bloomberg) Saudi Arabia attempted to move beyond the worst oil disruption in its history, assuring the world that crude exports won’t suffer, its damaged facility has partially restarted and that production capacity will be back to normal within months.The long-awaited update on Tuesday from the kingdom — which before … Read moreSaudi Arabia Partially Restores Output at Damaged Oil Plant

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Duke Energy Makes Big Pledge to Cut Carbon Pollution by 2050

By Christopher Martin Sep 17, 2019 (Bloomberg) Duke Energy Corp. agreed to eliminate carbon emissions from its power plants and offset those that it can’t by 2050, joining a slew of power producers taking steps to limit the effects of global warming. Duke, one of the largest U.S. emitters of greenhouse gases, plans to shift away … Read moreDuke Energy Makes Big Pledge to Cut Carbon Pollution by 2050

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Minnesota court declines to review Enbridge Line 3 pipeline approval

September 17, 2019 Reuters The Minnesota Supreme Court on Tuesday declined to hear environmental and tribal challenges to Enbridge Inc’s Line 3 oil pipeline, a decision that removes one potential obstacle for the already-delayed project. The ruling means the Minnesota Public Utilities Commission (MPUC), the state regulator that approved the Line 3 project last year, will … Read moreMinnesota court declines to review Enbridge Line 3 pipeline approval

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Oil plummets 6% as Saudi says oil production fully restored

September 17, 2019 Reuters Oil prices dropped about 6% on Tuesday after Saudi Arabia’s energy minister said the kingdom has fully restored its oil production hit by an attack this weekend that shut 5% of global oil output. Saturday’s attacks raised the specter of a major supply shock in a market that in recent months has … Read moreOil plummets 6% as Saudi says oil production fully restored

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Oil’s Dramatic Advance Pauses as Market Awaits Saudi Clarity

By James Thornhill and Saket Sundria Sep 17, 2019 (Bloomberg) Oil markets are grappling with uncertainty over how long it will take Saudi Arabia to restore output after the devastating attacks that knocked out 5% of global crude supply.As state oil giant Saudi Aramco grows less optimistic that there’ll be a rapid recovery after the strikes that … Read moreOil’s Dramatic Advance Pauses as Market Awaits Saudi Clarity

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Saudis Face Lengthy Oil Halt With Few Options to Fill Gap

By Anthony DiPaola, Javier Blas and Julian Lee Sep 17, 2019 (Bloomberg) The oil market is facing a prolonged disruption to Saudi Arabia’s oil production with few options for replacing such huge output losses. The weekend attacks on the kingdom eliminated about 5% of global oil supply — and raised the risk of more conflict … Read moreSaudis Face Lengthy Oil Halt With Few Options to Fill Gap

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Five Things to Know in World Business Today

World Business

By Lorcan Roche Kelly Sep 17, 2019 (Bloomberg) Aramco production could take months to restore, WeWork IPO is delayed, and Johnson gets his day in court. Here are some of the things people in markets are talking about today. Oil pressure Saudi Aramco could take months to fully restore output at its giant Abqaiq plant with oil analysts saying that damage at … Read moreFive Things to Know in World Business Today

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Saudi Attack Hits More Than Oil. Here’s a Stocks Breakdown

US Stocks raise

By Michael Bellusci and Felice Maranz Sep 16, 2019 (Bloomberg) A weekend strike on a Saudi Arabian oil facility is rippling beyond a surge in oil prices. Energy stocks are experiencing a massive rally, exchange stocks with commodities businesses are getting a boost and flagging banks exposed to energy loans are experiencing some relief. Cruise-ship operators and … Read moreSaudi Attack Hits More Than Oil. Here’s a Stocks Breakdown

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After Saudi Oil Drone Attack, Canada Touts Its Remoteness and Security

By Catherine Ngai and Kevin Orland Sep 16, 2019 (Bloomberg) Canada is counting on its geographical isolation as a key to protecting itself from attacks like the one this past weekend in Saudi Arabia that knocked about 5% of global supply offline.As oil producers, traders and analysts grapple over the implications of what energy security looks like … Read moreAfter Saudi Oil Drone Attack, Canada Touts Its Remoteness and Security

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How the Saudi attack affects global oil supply

September 16, 2019 Reuters Saudi Aramco Refinery The strike on the heartland of Saudi Arabia’s oil industry, including damage to the world’s biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months.Here are some facts about the impact on oil supply and spare capacity: WHY IS IT SO DISRUPTIVE FOR GLOBAL … Read moreHow the Saudi attack affects global oil supply

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Osprey Informatics and Infrastructure Networks Trade CEOs

Osprey Logo - December 2018 Update Feature

Mark Slaughter, left – Scott Crist, right Scott Crist Appointed CEO of Osprey Mark Slaughter Named CEO of Infrastructure Networks Both CEOs to Remain Active on each other’s Board of Directors HOUSTON AND CALGARY, September 17, 2019 – In a move more common in major league sports free agency periods, Osprey Informatics (“Osprey”), the leader … Read moreOsprey Informatics and Infrastructure Networks Trade CEOs

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Ultra Petroleum Corp. Proactively Enters into Amended Credit Facility to Remove Maintenance Covenants, Suspends Drilling Program, Substantially Increase Free Cash Flow Generation and Announces a Fall Borrowing Base Redetermination of $1.175 Billion and Commitment Amount to the Credit Facility of $200 Million

September 16, 2019  | Source: Ultra Petroleum Corp. ENGLEWOOD, Colo., Sept. 16, 2019 (GLOBE NEWSWIRE) — Ultra Petroleum Corp. (“Ultra Petroleum” or the “Company”) (OTCQX: UPLC) announces that it has received unanimous approval from the lenders for its revolving credit facility (the “Credit Facility”) and entered into an amendment that, among other items, removes the financial … Read moreUltra Petroleum Corp. Proactively Enters into Amended Credit Facility to Remove Maintenance Covenants, Suspends Drilling Program, Substantially Increase Free Cash Flow Generation and Announces a Fall Borrowing Base Redetermination of $1.175 Billion and Commitment Amount to the Credit Facility of $200 Million

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Devon Energy Promotes David Harris to Executive Vice President, Exploration and Production

September 16, 2019  | Source: Devon Energy Corporation OKLAHOMA CITY, Sept. 16, 2019 (GLOBE NEWSWIRE) — Devon Energy Corp. (NYSE: DVN) announced today that David Harris has been appointed to the position of executive vice president, exploration and production. Tony Vaughn previously served in this role and will retire from Devon after 20 years of service. … Read moreDevon Energy Promotes David Harris to Executive Vice President, Exploration and Production

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Take Action This Fall! Market Your Company on EnergyNow and Generate Exposure & More Leads – See Our Marketing Bundles

Market Your Company on EnergyNow Don’t Be Left Behind in Your Marketing Get Started With One of Two Marketing Bundles from EnergyNow.com Access the EnergyNow Website, Daily Email, Social Media (Linkedin etc.) and EnergyNow SHOWCASE Digital Marketplace For more information and to download the list of specials, please fill out the form below and include … Read moreTake Action This Fall! Market Your Company on EnergyNow and Generate Exposure & More Leads – See Our Marketing Bundles

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TGS Announces Strategic Milestones to Accelerate Growth

September 16, 2019 09| Source: TGS Houston, Texas (16 September 2019) — TGS, a leading provider of multi-client geoscience data for exploration & production (E&P) companies, today announced achievement of five milestones accelerating the company’s growth strategy. The achievements include new technologies in key basins; strengthening position in the South Atlantic; further growth onshore; enhancing imaging and … Read moreTGS Announces Strategic Milestones to Accelerate Growth

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