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Gulf Capital Targets Middle East’s “New Oil” in Consumer Boom

May 27, 2018, by Tom Arnold DUBAI, May 27 (Reuters) – Abu Dhabi-based Gulf Capital aims to invest $350 million over the next two years in areas such as consumer-led sectors and renewable energy, in a shift away from oil and gas and infrastructure. “The new oil in this region is the consumer. We have … Read moreGulf Capital Targets Middle East’s “New Oil” in Consumer Boom

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Putin Says Oil at $60 Suits Russia as OPEC Weighs More Supply

May 25, 2018 by Henry Meyer and Rosalind Mathieson (Bloomberg)  Oil prices at $60 a barrel fully suit Russia and the country doesn’t want them to spiral higher, President Vladimir Putin said. “We’re not interested in an endless rise in the price of energy and oil,” Putin told reporters at the International Economic Forum in … Read morePutin Says Oil at $60 Suits Russia as OPEC Weighs More Supply

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Electric Cars Feel a Little Competition: Nathaniel Bullard

Volkswagen Electric Car

May 25, 2018, by Nathaniel Bullard (Bloomberg Opinion) Electric cars topped the 1 million sales milestone in 2017, a 57 percent increase over 2016. Chinese consumers alone purchased more than half a million electric cars. And Bloomberg New Energy Finance expects more than half of all new cars sold, and a third of the total … Read moreElectric Cars Feel a Little Competition: Nathaniel Bullard

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Politics Aside, Work Starts on Russia-Germany Gas Pipeline

May 25, 2018 BERLIN (Reuters) – A political row over Europe’s energy security is not hindering preparatory work for the subsea Nord Stream 2 gas pipeline from Russia to Germany, with dredging work starting off the Baltic coast last week. The new pipeline, an initiative of Russia’s Gazprom and five European companies, will double Russia’s … Read morePolitics Aside, Work Starts on Russia-Germany Gas Pipeline

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U.S. Drillers Add Most Rigs in Week and Month Since February: Baker Hughes

May 25, 2018, by Scott DiSavino (Reuters) – U.S. energy companies added the most oil rigs in both a week and a month since February as drillers continued to return to the well pad with crude prices at their highest since late 2014. The total oil rig count rose by 15 to 859 in the … Read moreU.S. Drillers Add Most Rigs in Week and Month Since February: Baker Hughes

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Oil Plunges Most in 11 Months as Saudis Hint Taps Will Open Up

May 25, 2018, by Catherine Ngai and Robert Tuttle (Bloomberg) Oil prices fell the most in 11 months in New York as Saudi Arabia said it expects OPEC and its partners to boost supplies later this year, easing restraints intact since early 2017. U.S. futures were down 4 percent, the biggest drop since July 5, … Read moreOil Plunges Most in 11 Months as Saudis Hint Taps Will Open Up

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Reuters Poll: Near One-In-Three Chance of U.S. Recession in Next Two Years

May 24, 2018, by Shrutee Sarkar BENGALURU (Reuters) – There is nearly a one-in-three chance of a U.S. recession in the next two years, according to a Reuters poll of economists who cited concerns about an already-old business cycle, as well as rising interest rates and barriers to trade. The latest poll of over 100 … Read moreReuters Poll: Near One-In-Three Chance of U.S. Recession in Next Two Years

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Five Things to Know in World Business Today

May 25, 2018, by Lorcan Roche Kelly (Bloomberg) Summit off North Korea expressed surprise that President Donald Trump canceled the June 12 leaders summit, with First Vice Foreign Minister Kim Kye Gwan saying his country still wanted to pursue peace, and remained willing to meet with the U.S. at any time. Markets  reversed some of the selloff … Read moreFive Things to Know in World Business Today

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As Apple, Google and Others Promote Renewables, What Is the Best Way to Evaluate Corporate Energy Leadership?

May 25, 2018, by Priya Barua (Renewable Energy World) At 62 percent of U.S. retail electric sales, commercial and industrial electricity consumers can substantially influence the demand for renewable energy and accelerate the pace of electric sector decarbonization. The good news is that businesses are increasingly interested in — and promoting – their leadership on … Read moreAs Apple, Google and Others Promote Renewables, What Is the Best Way to Evaluate Corporate Energy Leadership?

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Breakingviews – OPEC Supply Easing is More Reset than U-Turn

May 25, 2018, by George Hay LONDON (Reuters Breakingviews) – OPEC is changing course. For the past year-and-a-half, the Organization of the Petroleum Exporting Countries and producers like Russia have diligently stuck to agreed oil supply cuts. Now Russia and Saudi Arabia are discussing opening the taps by an extra 1 million barrels per day, … Read moreBreakingviews – OPEC Supply Easing is More Reset than U-Turn

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U.S. Conservationists Sue Trump Administration Over Migratory Bird Policy

May 24, 2018 (Reuters) – A coalition of conservation groups sued the Trump administration on Thursday, accusing the government of slashing protections for migratory birds. At issue is the Migratory Bird Treaty Act, which the National Audubon Society and other plaintiffs say has been undermined. In the past, the act helped hold parties responsible for … Read moreU.S. Conservationists Sue Trump Administration Over Migratory Bird Policy

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U.S. Gasoline Prices Rise Near $3/Gallon Ahead of Driving Season

May 24, 2018, by Stephanie Kelly NEW YORK (Reuters) – Filling the fuel tank for vacation driving this summer will be pricier than it has been in nearly four years for American motorists, as gasoline prices nationwide rise toward the expected average seasonal price of $3 a gallon. Lower-income consumers could be most likely to … Read moreU.S. Gasoline Prices Rise Near $3/Gallon Ahead of Driving Season

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Chinese, Others Clamor for Crude Exports, but U.S. Straining Capacity

May 24, 2018, by Ayenat Mersie NEW YORK (Reuters) – The U.S. oil export infrastructure is straining to keep up as the country’s crude oil exports hit new highs and China snaps up more of it than ever before. U.S. crude production has surged to a record 10.7 million barrels a day, driven largely by growth … Read moreChinese, Others Clamor for Crude Exports, but U.S. Straining Capacity

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OPEC’s Barkindo Says Compliance With Oil Supply Pact Very High

OPEC Secretary-General Mohammad Barkindo addresses a news conference in Vienna, Austria, November 7, 2017. REUTERS/Heinz-Peter Bader

May 25, 2018 ST PETERSBURG (Reuters) – OPEC Secretary-General Mohammad Barkindo said on Friday that compliance with the global deal on oil output cuts is very high. Barkindo, speaking to reporters during his visit to the Russian city of St Petersburg, also said concerns that compliance with the deal between OPEC and non-OPEC countries would … Read moreOPEC’s Barkindo Says Compliance With Oil Supply Pact Very High

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Iran Sets End of May Deadline to See EU Measures to Save Nuclear Deal

FILE PHOTO: Iranian Foreign Minister Mohammad Javad Zarif attends a meeting with his Russian counterpart Sergei Lavrov in Moscow, Russia April 28, 2018. REUTERS/Grigory Dukor

May 24, 2018, by Francois Murphy and John Irish VIENNA (Reuters) – Iran wants European powers to present it with measures by the end of May to compensate it for the U.S. decision to abandon the 2015 nuclear deal, a senior official said on Friday, and Tehran would decide within weeks whether to quit the … Read moreIran Sets End of May Deadline to See EU Measures to Save Nuclear Deal

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Saudi Arabia, Russia Prepared to Ease Oil Production Cuts

Saudi Energy Minister Khalid al-Falih attends a session of the St. Petersburg International Economic Forum (SPIEF), Russia May 25, 2018. REUTERS/Sergei Karpukhin

May 25, 2018 ST PETERSBURG (Reuters) – Saudi Arabia and Russia are prepared to ease oil production cuts to calm consumers’ worries they get adequate supply, the energy ministers for both countries said on Friday. Saudi Energy Minister Khalid al Falih said the easing of restrictions would be gradual in order not to shock the … Read moreSaudi Arabia, Russia Prepared to Ease Oil Production Cuts

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OPEC, Russia Prepared to Raise Oil Output Under U.S. Pressure

OPEC Flag

May 25, 2018, by Katya Golubkova, Dmitry Zhdannikov and Rania El Gamal ST PETERSBURG/DUBAI (Reuters) – Saudi Arabia and Russia are discussing raising OPEC and non-OPEC oil production by some 1 million barrels a day, sources said, while OPEC’s chief said a complaint from U.S. President Donald Trump over high prices had triggered the idea of … Read moreOPEC, Russia Prepared to Raise Oil Output Under U.S. Pressure

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Iran Complying with Nuclear Deal, but Could Do Better: IAEA

May 24, 2018, by Francois Murphy VIENNA (Reuters) – Iran continues to comply with the terms of its nuclear deal with world powers despite the U.S. withdrawal, but could be faster and more proactive in allowing snap inspections, the U.N. atomic watchdog policing the accord said on Thursday. In its first such report since U.S. … Read moreIran Complying with Nuclear Deal, but Could Do Better: IAEA

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U.S. Imposes Sanctions on Companies Aiding Iranian Airlines

The logos of Airbus group and IranAir are pictured the company IranAir takes delivery of the first new Western jet, an Airbus A321, under an international sanctions deal in Colomiers, near Toulouse, France, January 11, 2017. REUTERS/Regis Duvignau/File Photo

May 24, 2018, by Saleha Mohsin (Bloomberg) The U.S. imposed sanctions Thursday on nine individuals or companies for providing support to Iranian airlines already subject to penalties. The Treasury Department added fresh sanctions to Tehran-based Mahan Air for playing a “critical role in exporting the Iranian regime’s malign influence,” the department said in a statement. … Read moreU.S. Imposes Sanctions on Companies Aiding Iranian Airlines

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Why California’s Rooftop Mandate Isn’t Good Enough for Some Solar Enthusiasts

May 24, 2018, by Garth Heutel (Renewable Energy World) More California rooftops will soon sport solar panels, partly due to a new state mandate requiring them for all new houses and low-rise residential buildings by 2020. This rule immediately sparked lively debates. Even experts who generally advocate for solar energy expressed skepticism that it was actually a good idea. … Read moreWhy California’s Rooftop Mandate Isn’t Good Enough for Some Solar Enthusiasts

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Life Without U.S. Begins for Powers Holding to Iran Nuclear Deal

May 24, 2018, by Jonathan Tirone (Bloomberg) Efforts by world powers to salvage the landmark nuclear deal with Iran pick up on Friday in Vienna, where officials will meet for the first time without U.S. diplomats present. Russia, China, the U.K., France and Germany will discuss the economic incentives Iran needs to keep caps on … Read moreLife Without U.S. Begins for Powers Holding to Iran Nuclear Deal

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Total, Borealis and NOVA Chemicals Close their Joint Venture in Petrochemicals

HOUSTON, May 23, 2018 /PRNewswire/ — Total S.A. (NYSE: TOT) (“Total”), Borealis AG (“Borealis”) and NOVA Chemicals Corporation (“NOVA Chemicals”) today announced they have closed a joint venture in petrochemicals on the U.S. Gulf Coast after receiving all required regulatory approvals. The company named Bayport Polymers LLC (“Bay-Pol”) is 50% owned by Total and 50% owned … Read moreTotal, Borealis and NOVA Chemicals Close their Joint Venture in Petrochemicals

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Apache Dedicates Alpine High NGLs to Enterprise

HOUSTON–(BUSINESS WIRE)–Enterprise Products Partners L.P. (NYSE: EPD) and Apache Corporation (NYSE and NASDAQ: APA) today announced they have executed a long-term agreement, with Apache committing 100 percent of its Alpine High natural gas liquids (“NGLs”) to Enterprise. Apache has 336,000 net acres in its Alpine High discovery in the Delaware Basin. Enterprise has committed to … Read moreApache Dedicates Alpine High NGLs to Enterprise

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Russia Says it, Saudi Arabia have Common View on Oil Deal

May 24, 2018 ST PETERSBURG (Reuters) – Russia and Saudi Arabia have a common position on the future of the oil output cut deal, Russian Energy Minister Alexander Novak said on Thursday, while Russia’s Lukoil (LKOH.MM) said the deal should remain in place but needs to be altered. “We have a common position,” Novak said … Read moreRussia Says it, Saudi Arabia have Common View on Oil Deal

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Massachusetts, Rhode Island Award Major Offshore Wind Contracts

Wind Turbines

May 23, 2018, by Nichola Groom (Reuters) – Massachusetts on Wednesday selected a partnership between Avangrid Inc and Copenhagen Infrastructure Partners to develop what will be the largest U.S. offshore wind farm off the coast of Martha’s Vineyard. Vineyard Wind’s 800 megawatt proposal was chosen by state utilities Unitil, National Grid and Eversource Energy. It … Read moreMassachusetts, Rhode Island Award Major Offshore Wind Contracts

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Exxon CEO’s Solution on Shares: Drill Big, Drill Better

Exxon Mobil

May 24, 2018, by Kevin Crowley (Bloomberg) Darren Woods is mounting a strong defense of his plan to rescue Exxon Mobil Corp. from its share-price slump with a multibillion dollar investment spree that’s at odds with the belt-tightening undertaken by rivals. Woods’ solution, outlined in a Wednesday interview, is to invest heavily in mega-projects that … Read moreExxon CEO’s Solution on Shares: Drill Big, Drill Better

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U.S. Power Payout Sends Surprise Boost to Coal, Nuclear Plants

May 24, 2018, by Tim Loh (Bloomberg) Embattled coal and nuclear power-plant operators stand to get a lot more money to provide capacity to the biggest U.S. electricity grid — if they can hold on for another three years. Generators are going to make $140 a megawatt-day for the year starting in June 2021, 83 … Read moreU.S. Power Payout Sends Surprise Boost to Coal, Nuclear Plants

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Democrats Urge Trump to `Stand Up to OPEC’ Amid Rising Oil Price

gas pumps

May 23, 2018, by Stephen Cunningham (Bloomberg) Senate Democrats are urging President Donald Trump to rein in OPEC with pump prices at a three-year high, and even send his energy secretary to the cartel’s June meeting to reinforce the message. The reality is that Trump has few tools at his disposal to make life more … Read moreDemocrats Urge Trump to `Stand Up to OPEC’ Amid Rising Oil Price

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Five Things to Know in World Business Today

May 24, 2018, by Lorcan Roche Kelly (Bloomberg) Auto-threat President Donald Trump is pushing for new tariffs on cars and trucks imported to the U.S., a move which will serve to aggravate the country’s closest international allies. An additional duty of up to 25 percent is under consideration, a person familiar with the matter said. The statement … Read moreFive Things to Know in World Business Today

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In Full Flow: Pipeline Additive Sales Boom Amid Oil Bottlenecks

Pipeline Oil Storage

May 23, 2018, by Julie Gordon and Rod Nickel HOUSTON/CALGARY, Alberta (Reuters) – Pipeline bottlenecks have vexed North American oil producers this year, but for companies making a little-known additive called drag-reducing agent (DRA), they have provided a veritable windfall. DRA is injected into pipelines to reduce the contact between the oil and the wall … Read moreIn Full Flow: Pipeline Additive Sales Boom Amid Oil Bottlenecks

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Senate Democrats Want Trump to Prod OPEC to Lower Oil Prices

May 23, 2018, by David Shepardson WASHINGTON (Reuters) – U.S. Senate Democrats on Wednesday urged President Donald Trump to try to prod OPEC to take steps to lower oil prices and suggested that millions of Americans will see tax cut proceeds canceled out by higher fuel costs. Senate Democratic Leader Charles Schumer held a news … Read moreSenate Democrats Want Trump to Prod OPEC to Lower Oil Prices

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Trump Administration Officials to Meet on Biofuel Policy Changes

Donald Trump

May 23, 2018, by Jarrett Renshaw NEW YORK (Reuters) – Top officials from the U.S. Environmental Protection Agency and the departments of Energy and Agriculture plan to meet on Thursday to hammer out details of President Donald Trump’s planned changes to the nation’s biofuel laws, according to two sources familiar with the matter. The meeting … Read moreTrump Administration Officials to Meet on Biofuel Policy Changes

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Now May Be the Best Time to Give Your Wind Turbine a Makeover

May 23, 2018, by Jim Efstathiou Jr. (Bloomberg) It’s a good time to overhaul your wind turbines. Wind-farm operators can earn an 11 percent rate of return for replacing turbine nacelles, hubs or rotors this year, and that’s even after a key federal tax break was reduced from last year, according to a report Wednesday … Read moreNow May Be the Best Time to Give Your Wind Turbine a Makeover

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Here’s What It Takes to Be a Leader in the US Offshore Wind Supply Chain

May 23, 2018, by Jennifer Delony (Renewable Energy World) As states along the U.S. East Coast ramp up their mandates for offshore windcapacity, speculation remains about how the industry’s supply chain will take shape to meet the demand for turbines, boats, labor, specialized services, and more. Virginia is taking the next step in growing the infrastructure … Read moreHere’s What It Takes to Be a Leader in the US Offshore Wind Supply Chain

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Commentary: The Gas Market Is in Serious But Stable Condition: Liam Denning

May 23, 2018 by Liam Denning (Bloomberg Opinion)  The natural gas market is in a coma. I don’t mean gas prices are low, per se; a market can be in the pits but still jump around like a frog in a sock from day to day. Rather, gas prices appear utterly unresponsive even to defibrillator-like stimuli. … Read moreCommentary: The Gas Market Is in Serious But Stable Condition: Liam Denning

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Shale Boom Buyout King Sees Redemption After $2 Billion Meltdown

May 23, 2018 by Alex Nussbaum (Bloomberg) John Walker was a toddler in 1947 when his father died of a heart attack. He bused tables to work his way through Texas Tech University and then spent a year on a naval destroyer fighting in the Vietnam War. The past four years, though, may have been … Read moreShale Boom Buyout King Sees Redemption After $2 Billion Meltdown

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Ormat Announces Closing of $33.4 Million Partnership Transaction for Tungsten Mountain Geothermal Power Plant

RENO, Nev., May 22, 2018 (GLOBE NEWSWIRE) — Ormat Technologies Inc. (NYSE:ORA) today announced that one of its wholly-owned subsidiaries that indirectly owns the 26 MW Tungsten Mountain Geothermal power plant entered into a partnership agreement with a private investor. Under the transaction documents, the private investor acquired membership interests in the project for an … Read moreOrmat Announces Closing of $33.4 Million Partnership Transaction for Tungsten Mountain Geothermal Power Plant

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VAALCO Energy, Inc. Announces Early Repayment of IFC Debt and that the Workover Program Is Now Underway

HOUSTON, May 22, 2018 (GLOBE NEWSWIRE) — VAALCO Energy, Inc. (NYSE:EGY) today announced that its subsidiary has paid off the outstanding balance on its Amended Term Loan Agreement with the International Finance Corporation (“IFC”) and begun workover operations last week to restore production to two wells currently shut-in on the Avouma platform. Highlights and Recent … Read moreVAALCO Energy, Inc. Announces Early Repayment of IFC Debt and that the Workover Program Is Now Underway

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Global Petroleum Show to Celebrate 50 years as North America’s Premier Energy Event

CALGARY, May 23, 2018 /CNW/ – Global Petroleum Show (GPS), North American’s leading energy event, will kick-off its 50th year next month in Calgary. From June 12-14, over 50,000 industry professionals, government officials, national and international energy companies, thought leaders and influencers from around the globe will gather at Stampede Park to share innovative technologies … Read moreGlobal Petroleum Show to Celebrate 50 years as North America’s Premier Energy Event

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Why More Solar and Wind on the Grid Should Be Driving Today’s Investment Decisions

May 23, 2018, by John Berger (Renewable Energy World) A newly released Lawrence Berkeley National Laboratory (LBNL) report has found that when the share of electricity generated from wind and solar reaches 40-50 percent, wholesale power prices will decrease by US $5-$16/MWh. The LBNL study also has implications for demand and supply-side investment decisions, electric … Read moreWhy More Solar and Wind on the Grid Should Be Driving Today’s Investment Decisions

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Few Energy Technologies, Sectors on Track for Climate Goals: IEA

May 23, 2018 LONDON (Reuters) – Only four of 38 energy technologies and sectors were on target last year to meet long-term climate and air pollution goals, a study by the International Energy Agency showed on Wednesday. The IEA tracks energy technologies, including solar, wind, nuclear, coal and gas, as well as energy-intensive sectors such … Read moreFew Energy Technologies, Sectors on Track for Climate Goals: IEA

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Sixth Member of Gas Pipeline Clearance Team Killed in Afghanistan

May 23, 2018 KANDAHAR, Afghanistan (Reuters) – The body of a man identified as the sixth of a group of mine-clearance workers with the TAPI international gas pipeline who were killed this week has been found in Afghanistan’s southern province of Kandahar, officials said on Wednesday. The man was kidnapped on Monday after his five … Read moreSixth Member of Gas Pipeline Clearance Team Killed in Afghanistan

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Fuel Efficient Cars a Bigger Threat for Oil than Electric Vehicles

May 22, 2018, by Bloomberg (Arabian Business) Saudi Arabia is investing in ways to prolong the demand for petroleum. Oil demand is set to face an even bigger threat from fuel-efficient engines than from electric vehicles over the next two decades, according to Bloomberg New Energy Finance. Engine and other vehicle improvements that increase the … Read moreFuel Efficient Cars a Bigger Threat for Oil than Electric Vehicles

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N.J. Governor Is Said to Back Nuke Plant Rescue Enviros Oppose

Nuclear Plant in Ohio

May 23, 2018, by Elise Young and Brian Eckhouse (Bloomberg) New Jersey Governor Phil Murphy plans to sign a bill requiring utility customers to spend more than $300 million a year to rescue struggling nuclear power plants run by Exelon Corp. and Public Service Enterprise Group Inc., according to a person familiar with the matter. … Read moreN.J. Governor Is Said to Back Nuke Plant Rescue Enviros Oppose

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In Trump-Versus-California, One Negotiator Is Unlike Any Other

May 23, 2018, by John Lippert (Bloomberg) Mary Nichols was in classic blunt mode last week, calling the latest Trump administration challenge to Obama-era auto-emission targets “a piece of crap” and dismissing as “nonsense” industry claims that fighting pollution costs too much. “Give me a break,” Nichols said ahead of a California Air Resources Board … Read moreIn Trump-Versus-California, One Negotiator Is Unlike Any Other

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Sanchez Midstream Partners Announces Expansion of Midstream Joint Venture with Targa Resources in South Texas

HOUSTON, May 23, 2018 (GLOBE NEWSWIRE) — Sanchez Midstream Partners LP (NYSE American:SNMP) (“SNMP” or the “Partnership”) today announced that the Partnership has executed a series of agreements with Targa Resources Corp. (“Targa”) (NYSE:TRGP) pursuant to which the parties have merged their respective 50 percent interests in the entities that own the high pressure Carnero … Read moreSanchez Midstream Partners Announces Expansion of Midstream Joint Venture with Targa Resources in South Texas

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Five Things to Know in World Business Today

May 23, 2018, by Lorcan Roche Kelly (Bloomberg) Maybe not President Donald Trump said there is a very substantial chance his summit with North Korean leader Kim Jong Un scheduled for next month in Singapore “won’t work out” during an Oval Office meeting with South Korea’s Moon Jae-in. Trump also said yesterday that he is looking … Read moreFive Things to Know in World Business Today

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Utility Spending on Blockchain-based Platforms is Expected to Reach $3.7 Billion by 2026

BOULDER, Colo.–(BUSINESS WIRE)–A new report from Navigant Research analyzes the market for blockchain-based platforms in the utilities industry, providing forecasts for wholesale energy trading, EV charging and integration, and transactive energy platforms through 2026. In 2016 and 2017, millions of dollars flowed into energy-related blockchain projects, and the adoption of the technology continues to grow. … Read moreUtility Spending on Blockchain-based Platforms is Expected to Reach $3.7 Billion by 2026

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Report: Renewables, Energy Efficiency in New England Will Replace the Need for Gas Pipelines

May 23, 2018, by William Steel (Renewable Energy World) A report that examines statements about rolling blackouts made by regional grid operator ISO-New England, shows that sustained growth of renewables, and not more gas, will boost reliability of New England’s electric power system. It’s a familiar story to the renewables sector, but wasn’t the conclusion … Read moreReport: Renewables, Energy Efficiency in New England Will Replace the Need for Gas Pipelines

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U.S. Refining Giant Marathon Seeks EPA Biofuel Waiver

May 23, 2018, by Jarrett Renshaw and Chris Prentice NEW YORK (Reuters) – Marathon Petroleum Corp, the second-biggest refining company in the United States, has asked the Environmental Protection Agency for a hardship waiver exempting one of its facilities from the nation’s biofuels law, two sources with knowledge of the application told Reuters. The request comes … Read moreU.S. Refining Giant Marathon Seeks EPA Biofuel Waiver

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OPEC May Decide to Ease Oil Supply Curbs in June

May 22, 2018, by Rania El Gamal and Alex Lawler KHOBAR, Saudi Arabia/LONDON (Reuters) – OPEC may decide to raise oil output as soon as June due to worries over Iranian and Venezuelan supply and after Washington raised concerns the oil rally was going too far, OPEC and oil industry sources familiar with the discussions … Read moreOPEC May Decide to Ease Oil Supply Curbs in June

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BOEM Extends Deadline for Comment on New York Bight Offshore Wind Areas

May 22, 2018 (Renewable Energy World) The U.S. Bureau of Ocean Energy Management (BOEM) is extending the comment period for information and nominations for offshore wind energy development in an area of shallow water between Long Island and the New Jersey coast called the New York Bight. BOEM issued the call for information and nominations in April … Read moreBOEM Extends Deadline for Comment on New York Bight Offshore Wind Areas

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American Oil Boom Seen Tempting Ships to Steer Clear of Iran

Crude Oil Shipments In The Persian Gulf

May 23, 2018, by Serene Cheong (Bloomberg) The latest standoff between the U.S. and Iran may be leaving oil-tanker owners in more of a bind than in previous years. As the U.S. reimposes sanctions on the Islamic Republic, firms that help ferry Iranian oil risk losing access to the American financial system, similar to earlier … Read moreAmerican Oil Boom Seen Tempting Ships to Steer Clear of Iran

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Iran Tells Europe to Step Up and Save Nuclear Deal

In a May 8 event at the White House, U.S. President Donald Trump signs a proclamation declaring his intention to withdraw from the Iran nuclear agreement. REUTERS/Jonathan Ernst

May 22, 2018 BEIRUT/BERLIN (Reuters) – Iran poured scorn on threatened U.S. sanctions on Tuesday and told European powers to step up and salvage its international nuclear deal – though Germany signaled there was only so much it could do to fend off Washington’s economic clout. Senior Iranian military and political figures queued up to … Read moreIran Tells Europe to Step Up and Save Nuclear Deal

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Russia Does Not Rule Out Extension of OPEC Oil Production Cut

May 22, 2018 MOSCOW (Reuters) – Russia’s energy ministry does not rule out a global oil production cut deal led by OPEC and Moscow being extended to 2019, Roman Marshavin, head of its international cooperation department, said in the text of a speech obtained by Reuters. In the speech, which was dated May 22, Marshavin … Read moreRussia Does Not Rule Out Extension of OPEC Oil Production Cut

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Lease Seekers Enter Electric Vehicle Market: Nathaniel Bullard

Electric-Cars

May 22, 2018, by Nathaniel Bullard (Bloomberg Opinion) By 2040, 55 percent of all new car sales, and a third of the total 1.6 billion cars worldwide, will be electric. Those are the findings from my Bloomberg New Energy Finance colleagues’ global long-term Electric Vehicle Outlook 2018. Decreasing costs, increasing range and a wealth of new … Read moreLease Seekers Enter Electric Vehicle Market: Nathaniel Bullard

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BP to Cut 3 Percent of Upstream Jobs by Year-End

May 22, 2018 (Reuters) – British oil giant BP Plc said it plans to cut 3 percent of jobs in exploration and production, as part of a restructuring of its global upstream business to make the division more efficient and competitive. A BP spokesman said the cuts of around 540 jobs from the company’s 18,000-strong … Read moreBP to Cut 3 Percent of Upstream Jobs by Year-End

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Commentary: Hedge Funds Trapped in Near-Term Brent Futures

May 22, 2018, by John Kemp LONDON (Reuters) – Hedge funds are rolling forward long positions in the Brent futures contract, and in the absence of offsetting factors this is depressing the value of expiring contracts, pushing futures prices into contango. Since the end of June 2017 hedge funds and other money managers have built … Read moreCommentary: Hedge Funds Trapped in Near-Term Brent Futures

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BP Invests in Israeli Fast-Charge Battery Company

BP Gas Station

May 22, 2018 JERUSALEM (Reuters) – Oil major BP (BP.L) said on Tuesday its venture capital fund invested $20 million in Israeli firm StoreDot, which developed a battery system that could potentially charge an electric car in the amount of time it takes to fill a gas tank. The investment, BP Ventures said, is part … Read moreBP Invests in Israeli Fast-Charge Battery Company

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Investors Turn Up Heat on Shell Over Climate Targets

Shell Gas Station

May 22, 2018, by Ron Bousso THE HAGUE (Reuters) – Top investors in Royal Dutch Shell on Tuesday stepped up pressure on the oil and gas giant to commit to hard targets to reduce greenhouse gas emissions to battle climate change. Shell has set out “ambitions” to halve carbon emissions by 2050 and expand in … Read moreInvestors Turn Up Heat on Shell Over Climate Targets

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DCP Midstream Listed as a 2018 Fortune 500 Company

DENVER, May 21, 2018 (GLOBE NEWSWIRE) — Today, DCP Midstream, LP (NYSE:DCP) joined the Fortune 500 as #344 in the 64th running of the list. Fortune Magazine ranks companies by total revenue and DCP is one of 20 new companies to the list, and one of nine companies headquartered in Colorado. On January 23, 2017, DCP … Read moreDCP Midstream Listed as a 2018 Fortune 500 Company

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Alta Mesa Reports First Quarter 2018 Results

HOUSTON, May 21, 2018 (GLOBE NEWSWIRE) — Alta Mesa Resources, Inc., (NASDAQ:AMR) (“Alta Mesa Resources”, the “Company” or “Alta Mesa”) today announced first quarter 2018 unaudited financial and operational results for its wholly owned subsidiaries, Alta Mesa Holdings, LP (“AMHLP”) and Kingfisher Midstream, LLC (“Kingfisher”). Financial Highlights Net Loss of $33.5 million in the Successor … Read moreAlta Mesa Reports First Quarter 2018 Results

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NRG Energy, Inc. Prices Offering of $500 Million Convertible Senior Notes

PRINCETON, N.J.–(BUSINESS WIRE)–NRG Energy, Inc. (NYSE:NRG) has priced its offering of $500 million in aggregate principal amount of its 2.75% convertible senior notes due 2048 (the “Notes”). NRG has granted to the initial purchasers a 30-day option to purchase up to an additional $75 million in aggregate principal amount of the Notes. The Notes will … Read moreNRG Energy, Inc. Prices Offering of $500 Million Convertible Senior Notes

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Five Things to Know in World Business Today

May 22, 2018, by Lorcan Roche Kelly (Bloomberg) Tariff cuts  Authorities in China announced that they would reduce import duties on passenger cars from 25 percent to 15 percent, effective July 1. The move comes as trade hostilities between the country and the U.S. ease following meetings in Washington last week. Shares of Jaguar Land … Read moreFive Things to Know in World Business Today

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OPEC Looking Closely at Venezuelan Oil Output Drop

May 21, 2018, by Alex Lawler LONDON (Reuters) – OPEC is looking closely at a drop in oil output from Venezuela to see if the loss of supply from the member state warrants action by the group, sources familiar with the matter said. This marks a shift from earlier this year, when OPEC officials downplayed … Read moreOPEC Looking Closely at Venezuelan Oil Output Drop

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China Trade Truce May Help Give U.S. LNG a $30 Billion Boost

May 21, 2018, by Naureen S. Malik (Bloomberg) China’s appetite for U.S. liquefied natural gas may be about to get a lot bigger after the two nations agreed to pull back from the brink of a trade war. If China makes a substantial commitment to buying U.S. LNG, it could bring $30 billion back into … Read moreChina Trade Truce May Help Give U.S. LNG a $30 Billion Boost

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All Roads, Whether Electric or Oil, Lead to China: Liam Denning

May 21, 2018, by Liam Denning (Bloomberg Opinion) A decade ago, knowing where the oil market was going meant knowing China. Today, the same can be said for electric vehicles — which means it still applies to oil, too. That’s a big takeaway from the latest edition of Bloomberg New Energy Finance’s annual Electric Vehicle Outlook, … Read moreAll Roads, Whether Electric or Oil, Lead to China: Liam Denning

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Virginia Uranium Mining Dispute Draws U.S. Supreme Court Review

May 21, 2018, by Greg Stohr (Bloomberg) The U.S. Supreme Court agreed to consider overturning a ban on mining at the site of the nation’s largest known uranium deposit, heeding calls from the Trump administration and the companies that own the Virginia land. Virginia Energy Resources Inc. and other companies contend in their appeal that … Read moreVirginia Uranium Mining Dispute Draws U.S. Supreme Court Review

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NY Gov., Communities Question Environmental Justice of Proposed Waste-to-Energy Facility

May 21, 2018, by Jennifer Delony (Renewable Energy World) A proposed waste-to-energy (WTE) facility in the New York Finger Lakes region has raised environmental justice issues for stakeholders, including New York Gov. Andrew Cuomo. Circular enerG wants to build the WTE facility at a former army depot in Seneca County, N.Y., with initial construction estimated … Read moreNY Gov., Communities Question Environmental Justice of Proposed Waste-to-Energy Facility

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Rising Oil Prices Help Ground U.S. Airline Stocks; Could Make Them Cheap

May 21, 2018, by Lewis Krauskopf NEW YORK (Reuters) – Shares of U.S. airlines have been depressed by rising oil prices this year, but their descent to relatively cheap levels could position them for takeoff. Just since mid-March, the S&P 1500 airlines index .SPCOMALI has tumbled more than 10 percent. While other factors, including broader … Read moreRising Oil Prices Help Ground U.S. Airline Stocks; Could Make Them Cheap

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BP Sees Legal Jeopardy in Activists’ Push for Climate Action

May 21, 2018, by Kelly Gilblom (Bloomberg) After paying more than $65 billion in legal costs for the Deepwater Horizon catastrophe, BP Plc is wary of the risk of lawsuits related to climate change. Chief Executive Officer Bob Dudley raised the topic of class-action lawsuits twice during the company’s annual general meeting in Manchester, England … Read moreBP Sees Legal Jeopardy in Activists’ Push for Climate Action

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To Save Coal Jobs, Trump Should Train Coal Workers to Perform Energy Audits, Install Solar and Maintain Wind Farms

May 18, 2018, by Jennifer Runyon (Renewable Energy World) On Thursday, May 17, Politico’s Morning Energy lead with the following snippet: TRUMP PRESSURES PERRY FOR SOLUTIONS: Faced with calls from donors to live up to his campaign promises, President Donald Trump is keeping the pressure on Energy Secretary Rick Perry to come up with a plan … Read moreTo Save Coal Jobs, Trump Should Train Coal Workers to Perform Energy Audits, Install Solar and Maintain Wind Farms

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Ameren Missouri Planning Largest Wind Farm in the State

Wind Turbines

ST. LOUIS, May 21, 2018 /PRNewswire/ — Today Ameren Missouri, a subsidiary of Ameren Corporation (NYSE: AEE), announced that it has entered into an agreement to acquire, after construction, a 400-megawatt wind farm in northeast Missouri, the largest ever in the state. “We are excited to take this transformative step to bring more renewable generation … Read moreAmeren Missouri Planning Largest Wind Farm in the State

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UAE Sees Iran Going for Nuclear Deal after Trump Exit

May 21, 2018 (Bloomberg) Anwar Gargash, the UAE’s minister of state for foreign affairs, says Iran will be forced back to the negotiating table to broker new deal. Iran will be forced back to the negotiating table to broker a new nuclear deal because European support for the existing pact won’t be enough to save … Read moreUAE Sees Iran Going for Nuclear Deal after Trump Exit

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Forget About Oil at $80. The Big Rally Is in Forward Prices

May 21, 2018, by Catherine Ngai, Alex Longley and Javier Blas (Bloomberg) Brent crude oil grabbed all the attention after spot prices hit $80 a barrel last week. And yet, almost unnoticed, a perhaps more important rally has occurred in the obscure world of forward prices, with some investors betting the “lower for longer” price mantra … Read moreForget About Oil at $80. The Big Rally Is in Forward Prices

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Five Things to Know in World Business Today

May 21, 2018, by Lorcan Roche Kelly (Bloomberg) Detente  “We’re putting the trade war on hold,” Treasury Secretary Steven Mnuchin said Sunday after the U.S. and China issued a joint statement following talks in Washington. While the de-escalation of rhetoric between the two sides is a welcome development, analysts are warning that the lack of … Read moreFive Things to Know in World Business Today

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Don’t Neglect to Pay the Middleman: How Shell and Eni Ended Up on Trial

By Libby George and Shadia Nasralla LONDON, May 21 (Reuters) – Seven years ago, two middlemen launched civil lawsuits to seek payment for helping arrange a $1.3 billion oil deal in Nigeria. Now, nine current and former executives or contractors from Italy’s Eni and British-Dutch giant Royal Dutch Shell , including ENI Chief Executive Claudio … Read moreDon’t Neglect to Pay the Middleman: How Shell and Eni Ended Up on Trial

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Energy May Give Further Impetus to U.S. Small-Cap Stocks

May 20, 2018, by Caroline Valetkevitch and April Joyner NEW YORK (Reuters) – U.S. small-cap stocks look poised to extend a breakout rally, especially if oil prices advance deeper into levels last seen in 2014 to drive further gains in the small energy companies that have provided leadership in recent week, analysts and investors said. … Read moreEnergy May Give Further Impetus to U.S. Small-Cap Stocks

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Iran Says Europe’s Support for Nuclear Deal Not Enough

FILE PHOTO: Iranian Foreign Minister Mohammad Javad Zarif attends a meeting with his Russian counterpart Sergei Lavrov in Moscow, Russia April 28, 2018. REUTERS/Grigory Dukor

May 20, 2018, by Alissa de Carbonnel TEHRAN (Reuters) – The European Union is not doing enough to preserve the benefits for Iran from the 2015 international nuclear pact following the withdrawal of the United States, Iran’s foreign minister told the EU’s energy chief on Sunday. Miguel Arias Canete, European Commissioner for energy and climate, … Read moreIran Says Europe’s Support for Nuclear Deal Not Enough

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Exclusive: GE Nears Deal to Merge Transportation Unit with Wabtec

The logo of General Electric is seen at its plant in Baden, Switzerland November 15, 2017. REUTERS/Arnd Wiegmann

May 20, 2018, by Harry Brumpton and Greg Roumeliotis (Reuters) – General Electric Co (GE.N) is nearing a deal to merge its transportation business, which manufactures train engines, with Wabtec Corp (WAB.N), a U.S. maker of equipment for the rail industry, two people familiar with the matter said on Sunday. A deal valuing the combined business … Read moreExclusive: GE Nears Deal to Merge Transportation Unit with Wabtec

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Hedge Funds Keep Cutting Bets on Oil Rally as Oil Keeps Rallying

May 20, 2018, by Jessica Summers (Bloomberg) As Brent oil prices climb, money managers are feeling less and less bullish. Hedge funds cut their net-long positions — the difference between bets on a price increase and wagers on a drop — for a fifth consecutive week, the longest stretch of declines since November 2016. The … Read moreHedge Funds Keep Cutting Bets on Oil Rally as Oil Keeps Rallying

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Why Canada’s Oilpatch Still Struggles As Oil Prices Rise: David Yager

By David Yager Oilfield Services Executive Advisory – Energy Policy Analyst It wasn’t an apology nor admission of wrongdoing. But it was certainly an about face for Steve Williams, the CEO of Suncor Energy Inc. On May 3 Williams was very explicit about why Suncor would not be investing in any new projects in Canada. … Read moreWhy Canada’s Oilpatch Still Struggles As Oil Prices Rise: David Yager

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U.S. Sanctions on Iran Threaten Vital Afghanistan Trade Project

May 19, 2018, by Jonathan Landay and Rupan Jain WASHINGTON/KABUL (Reuters) – U.S. President Donald Trump’s decision to pull out of the Iran nuclear accord and re-impose sanctions on Tehran threatens to derail a project to help build Afghanistan’s economy, endangering a key goal of the U.S. strategy to end America’s longest war. The Indian-backed … Read moreU.S. Sanctions on Iran Threaten Vital Afghanistan Trade Project

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EU Sources Deny Report of Proposed New Nuclear Deal with Financial Aid for Iran

May 19, 2018 BERLIN (Reuters) – Three European Union sources have denied that diplomats meeting in Vienna on Friday to salvage the imperiled Iranian nuclear deal after Washington withdrew will discuss offering Iran financial aid in exchange for concessions. A German newspaper reported on Sunday that diplomats from Britain, Germany, France, China and Russia would … Read moreEU Sources Deny Report of Proposed New Nuclear Deal with Financial Aid for Iran

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Storage Will Be the Next Big Thing in Energy: David Fickling

May 20, 2018, by David Fickling (Bloomberg Opinion)  Think the plummeting costs of solar and wind are transforming the energy landscape? Then you should be betting on ways to warehouse that power. To understand why, consider: Unlike almost all their rivals in the energy-generation space, solar panels and wind turbines are mass-produced goods. That means they’re subject to the … Read moreStorage Will Be the Next Big Thing in Energy: David Fickling

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U.S. oil rig count holds steady after six weeks of gains -Baker Hughes

May 18, 2018 Reuters The U.S. oil rig count held steady this week after rising for six weeks in a row even as crude prices soar to multi-year highs, prompting drillers to extract record amounts of oil, especially from shale. The total oil rig count held at 844 in the week to May 18, General … Read moreU.S. oil rig count holds steady after six weeks of gains -Baker Hughes

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Valero Energy Corporation Announces Pricing of Notes Offering

SAN ANTONIO, May 17, 2018 (GLOBE NEWSWIRE) — Valero Energy Corporation (NYSE:VLO) (“Valero”) announced today that it has priced a public offering of $750,000,000 aggregate principal amount of 4.350% senior notes due 2028.  The offering is expected to close on June 1, 2018, subject to customary closing conditions.  Valero intends to use the net proceeds from … Read moreValero Energy Corporation Announces Pricing of Notes Offering

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Vistra Energy Receives Spirit of Caring Award from United Way of Metropolitan Dallas

IRVING, Texas, May 18, 2018 /PRNewswire/ — Vistra Energy (NYSE: VST) is honored to have been awarded the Spirit of Caring Award from United Way of Metropolitan Dallas. The Spirit of Caring Award is the most prestigious award given by United Way of Metropolitan Dallas and is presented to the company that demonstrates excellence in supporting … Read moreVistra Energy Receives Spirit of Caring Award from United Way of Metropolitan Dallas

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Spectra Energy Partners, LP Acknowledges Enbridge Inc. Offer and Establishes a Conflicts Committee

HOUSTON, May 18, 2018 /PRNewswire/ – Spectra Energy Partners, LP (NYSE: SEP) today announced that it has received a non-binding offer from Enbridge Inc. (Enbridge) (TSX, NYSE: ENB) and Enbridge (U.S.) Inc. to acquire all of the outstanding equity securities of SEP not currently beneficially owned by Enbridge. The board of directors of the general … Read moreSpectra Energy Partners, LP Acknowledges Enbridge Inc. Offer and Establishes a Conflicts Committee

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Continental Resources Announces Shelly Lambertz to Continental Board of Directors

OKLAHOMA CITY, May 17, 2018 /PRNewswire/ — Continental Resources, Inc. (NYSE: CLR) today announced the Continental Board of Directors elected Shelly Lambertz to the Board as a Class II Director, effective immediately following the conclusion of the 2018 Annual Meeting of Shareholders.  Ms. Lambertz replaces James L. Gallogly, who submitted his resignation effective at the … Read moreContinental Resources Announces Shelly Lambertz to Continental Board of Directors

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Natural Gas Weekly Update Report – May 17, 2018

  Reduced natural gas infrastructure capacity may pose summer energy reliability challenges in Southern California Separate studies released during the past few weeks by the Southern California Gas Company (SoCalGas) and Aliso Canyon Technical Assessment Group (the Assessment Group), which includes the California Public Utility Commission, the California Energy Commission, the California Independent System Operator, … Read moreNatural Gas Weekly Update Report – May 17, 2018

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Dallas Company Secures Permits to Expand Crude Export Hub at Texas Port

Oil Tanker in U.S.

May 17, 2018, by Jarrett Renshaw and Devika Krishna Kumar NEW YORK, May 17 (Reuters) – Jupiter MLP LLC, a Dallas-based logistics company, has secured permits to expand a crude export dock at the Port of Brownsville in Texas, the latest in a series of moves made by U.S. companies to tap into booming overseas … Read moreDallas Company Secures Permits to Expand Crude Export Hub at Texas Port

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Exclusive: BP Chief Sees Shale, OPEC Cooling Oil Markets

BP Gas Station

May 18, 2018, by Ron Bousso and Dmitry Zhdannikov (Reuters) U.S. President Donald Trump’s decision to exit an international nuclear deal with Iran and revive sanctions on the OPEC member country, as well as Venezuela’s plummeting output, has helped to lift oil prices to their highest since 2014. But BP sees oil falling to between … Read moreExclusive: BP Chief Sees Shale, OPEC Cooling Oil Markets

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Farmers Worldwide Struggle with Rising Fuel Costs

May 17, 2018, by Stephanie Kelly and Tom Polasek NEW YORK/CHICAGO (Reuters) – Farmers worldwide are feeling the pinch as fuel costs rise to near four-year highs just as they plant and harvest their fields, eroding agricultural income already hamstrung by depressed crop prices. The agricultural sector from the United States to Russia, and Brazil … Read moreFarmers Worldwide Struggle with Rising Fuel Costs

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Five Things to Know in World Business Today

May 18, 2018, by Lorcan Roche Kelly (Bloomberg) What $200 billion? China disputed reports this morning that it had offered to reduce its annual trade surplus with the U.S. by $200 billion, with a foreign ministry official saying he was unaware of any such concession. However, the country is adopting a conciliatory stance in talks … Read moreFive Things to Know in World Business Today

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U.S. Driven by Self-Interest in Wanting to Block Russia Pipeline: German Minister

May 18, 2018 BERLIN (Reuters) – A close ally of German Chancellor Angela Merkel issued a stark warning to the United States about the risks of placing “America First”, accusing Washington of seeking to block a planned Russia-Germany gas pipeline to shore up its own exports. Economy minister Peter Altmaier defended the Nord Stream 2 … Read moreU.S. Driven by Self-Interest in Wanting to Block Russia Pipeline: German Minister

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U.S. Trade Chief Says NAFTA Countries ‘Nowhere Near Close to a Deal’

Nafta Flags

May 17, 2018 WASHINGTON (Reuters) – U.S. Trade Representative Robert Lighthizer said that NAFTA countries are far from reaching a deal on new trade terms as a key U.S. legislative deadline passed on Thursday but pledged to continue negotiations with Canada and Mexico. “The NAFTA countries are nowhere near close to a deal. As I … Read moreU.S. Trade Chief Says NAFTA Countries ‘Nowhere Near Close to a Deal’

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Oil & Gas Industry Needs to Do More on Climate Change: Investors

May 18, 2018, by Simon Jessop LONDON (Reuters) – Sixty global investors on Friday called on the oil and gas industry to do more to tackle climate change, ratcheting up pressure on company boards ahead of several high profile annual shareholder meetings. Companies needed to be more transparent about how they plan to change their … Read moreOil & Gas Industry Needs to Do More on Climate Change: Investors

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Saudi Arabia Assures on Supply as Oil Hits $80 a Barrel

Saudi Oil Facility

May 18, 2018, by Nidhi Verma and Rania El Gamal RIYADH (Reuters) – Saudi Arabia said on Friday it is consulting other oil producers in and outside OPEC to ensure the world has adequate supplies to support economic growth after prices hit $80 a barrel for the first time since 2014. OPEC’s most influential energy … Read moreSaudi Arabia Assures on Supply as Oil Hits $80 a Barrel

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WEO Analysis: Is Natural Gas in Good Shape for the Future? IEA

Natural Gas

May 16, 2018 “Are we entering a Golden Age of Gas?” – That was the question the International Energy Agency asked in 2011 when examining the combination of market dynamics and policies that might allow natural gas to thrive in the future. The idea of a “Golden Age” was built on a few pillars. On the supply side, … Read moreWEO Analysis: Is Natural Gas in Good Shape for the Future? IEA

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As Oil Prices Surge, U.S. Service Providers Eye Growing Labor Shortage

Rig Workers

May 17, 2018, by Liz Hampton HOUSTON (Reuters) – Finding roughnecks remains a challenge for oil drillers as rising crude prices increase demand for their services, oilfield executives said on Thursday at a conference in Houston. Oilfield service suppliers cut tens of thousands of workers following the 2014 oil-price collapse, and skilled employees have moved … Read moreAs Oil Prices Surge, U.S. Service Providers Eye Growing Labor Shortage

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U.S. Power Grid Ready for Summer, but California & Texas are Concerns: FERC

May 17, 2018 (Reuters) – Most U.S. regions are prepared to meet power and natural gas demand this summer, but shortages are possible in Southern California due to low hydropower and gas supplies and Texas following the retirement of several coal plants, federal energy regulators said in a report on Thursday. In Southern California, staff … Read moreU.S. Power Grid Ready for Summer, but California & Texas are Concerns: FERC

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Canada Minister Eyes Pension Funds for Kinder Morgan Project

May 17, 2018, by Matt Scuffham and Rod Nickel TORONTO/WINNIPEG, Manitoba (Reuters) – Canada’s Finance Minister Bill Morneau on Thursday highlighted the country’s pension funds as possible investors in Kinder Morgan Inc’s (KMI.N) pipeline expansion, but industry sources were skeptical about attracting new investors. Morneau on Wednesday raised the prospect of foreign funding, saying “plenty … Read moreCanada Minister Eyes Pension Funds for Kinder Morgan Project

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United Against U.S., EU Invokes Measures on Sanctions

May 17, 2018, by Slav Okov, Gordana Filipovic and Elizabeth Konstantinova (Bloomberg) The European Union’s 28 leaders came to Bulgaria this week to deepen ties with partners in the east. They left preparing defenses against allies in the west. First thing on Friday morning, the European Commission, the EU’s executive arm, will begin putting a … Read moreUnited Against U.S., EU Invokes Measures on Sanctions

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LNG Exports May Incite Price Increases for American Users

May 17, 2018, by Ryan Collins (Bloomberg) Environmental groups opposed to U.S. natural gas exports just found an unlikely ally: the Commodity Futures Trading Commission. The government agency that regulates futures and options markets found that shipping gas overseas could raise costs for Americans. Domestic prices could rise as much as 20 percent due to … Read moreLNG Exports May Incite Price Increases for American Users

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Not All SUVs Guzzle Gas, So Maybe We’re Not Doomed: Justin Fox

May 17, 2018, by Justin Fox (Bloomberg Opinion) Car sales in the U.S. have fallen more than 30 percent since hitting a post-financial-crisis peak in 2014. The auto industry has done just fine, though, with sales of sport utility vehicles and pickup trucks picking up all the slack and then some. This is the backdrop … Read moreNot All SUVs Guzzle Gas, So Maybe We’re Not Doomed: Justin Fox

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This Is a Day for the MLP Sector’s History Books: Liam Denning

May 17, 2018, by Liam Denning (Bloomberg Opinion) I will grant you this: “Simplification Thursday” does not have quite the same alliterative appeal as “Merger Monday.” But this Thursday is one for the history books if you follow that niche of the energy sector called master limited partnerships. On the same morning, Williams Cos. Inc. announced … Read moreThis Is a Day for the MLP Sector’s History Books: Liam Denning

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Warming Planet Could Mean Bigger Corn Crops for American Farmers

May 17, 2018, by Marvin G. Perez (Bloomberg) An alarming increase in global temperatures from Earth’s changing climate could bring an unexpected benefit for U.S. farmers who grow corn, the nation’s biggest crop. While hotter weather generally threatens to sap crops of needed moisture, data from Midwest corn-growing states suggests the region will see warmer … Read moreWarming Planet Could Mean Bigger Corn Crops for American Farmers

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US Appropriations Committee Approves $243M Cut for Renewable Programs, $58M Increase to Fossil Fuels Research

May 17, 2018 (Renewable Energy World) The U.S. House Appropriations Committee yesterday approved an energy and water funding bill that, as compared to fiscal year 2018, cuts energy efficiency and renewable energy (EERE) programs by $243 million, and increases research and development funding for fossil fuels by $58 million. In a statement, the committee said … Read moreUS Appropriations Committee Approves $243M Cut for Renewable Programs, $58M Increase to Fossil Fuels Research

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COLUMN-Sanctions Stresses Still Bubbling in Aluminium Market: Andy Home

Steel Pipes

(The opinions expressed here are those of the author, a columnist for Reuters.) * Aluminium and Rusal sanctions: tmsnrt.rs/2wOBhsi By Andy Home LONDON, May 17 (Reuters) – The initial sanctions shockwaves may have passed but the aluminium market is still structurally stressed by the U.S. Treasury’s action against Oleg Deripaska and his Rusal aluminium empire. … Read moreCOLUMN-Sanctions Stresses Still Bubbling in Aluminium Market: Andy Home

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Iran to Spare no Efforts to Maintain Oil Production: SHANA

May 16, 2018 LONDON (Reuters) – Iran will spare no efforts to maintain its oil production and exports at current levels, oil minister Bijan Zanganeh said on Wednesday, adding Tehran would overcome pressures resulting from the United States’ withdrawal from a nuclear deal. “The current situation will pass and Iran will emerge as a winner,” … Read moreIran to Spare no Efforts to Maintain Oil Production: SHANA

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Oil and Gas Experts Address Pipeline Issues at 2018 MIDSTREAM Texas Conference

HOUSTON, May 17, 2018 /PRNewswire/ — The 2018 MIDSTREAM Texas conference and exhibition returns to Midland, TX – the heart of the Permian Basin and home to rapidly growing pipeline demand. Themed “Gateway to the World,” the conference and exhibition is set for June 5-6 at the Midland County Horseshoe Pavilion. The program highlights the growing … Read moreOil and Gas Experts Address Pipeline Issues at 2018 MIDSTREAM Texas Conference

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Cheniere Energy, Inc. Announces Offer to Acquire Outstanding Shares of Cheniere Energy Partners LP Holdings, LLC

HOUSTON–(BUSINESS WIRE)–Cheniere Energy, Inc. (“Cheniere”) (NYSE American: LNG) announced today that it has submitted a proposal to the board of directors of Cheniere Energy Partners LP Holdings, LLC (“Cheniere Partners Holdings”) (NYSE American: CQH) to acquire the publicly held shares of Cheniere Partners Holdings not already owned by Cheniere in a stock for stock exchange. … Read moreCheniere Energy, Inc. Announces Offer to Acquire Outstanding Shares of Cheniere Energy Partners LP Holdings, LLC

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Williams Announces Agreement to Acquire All Public Equity of Williams Partners L.P.

TULSA, Okla.–(BUSINESS WIRE)–Williams (NYSE: WMB) and Williams Partners L.P. (NYSE: WPZ) today announced an agreement under which Williams will acquire all of the outstanding public common units of Williams Partners in an all stock-for-unit transaction at a 1.494 ratio of Williams common shares per unit of Williams Partners. The transaction is valued at $10.5 billion; … Read moreWilliams Announces Agreement to Acquire All Public Equity of Williams Partners L.P.

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Two North America Pipeline Giants Bring Units Back Into Fold

May 17, 2018, by Amanda Jordan (Bloomberg) Two of North America’s biggest pipeline companies announced plans to repurchase subsidiaries as the industry seeks to curb future tax obligations in the face of a federal overhaul. Williams Cos. is buying the remaining stake in Williams Partners in a $10.5 billion all-stock deal, it said Thursday. Enbridge … Read moreTwo North America Pipeline Giants Bring Units Back Into Fold

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Oil Rises to $80 a Barrel in London for First Time Since 2014

Drilling Rig pipes

May 17, 2018, by Grant Smith and Heesu Lee (Bloomberg) Oil rose to $80 a barrel in London for the first time since 2014 as U.S. crude inventories fell and traders braced for the impact of renewed sanctions on OPEC member Iran. Crude has rallied this month on concern that President Donald Trump’s decision to … Read moreOil Rises to $80 a Barrel in London for First Time Since 2014

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Five Things to Know in World Business Today

May 17, 2018, by Lorcan Roche Kelly (Bloomberg) Not Libya The Trump administration is distancing itself from National Security Adviser John Bolton’s hard-line stance on North Korea. Press Secretary Sarah Huckabee Sanders told reporters she was “not aware” of plans to use the so-called Libya model, which would force Kim Jong Un’s regime to quickly abandon its … Read moreFive Things to Know in World Business Today

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May Mayhem for Oil Prices: Three Factors that are Likely to Impact Supply

Oil pumps

May 17, 2018 (Arabian Business) Analyst Ehsan Khoman says that geopolitics are currently overshadowing fundamentals and playing a huge role in the near-term future of the energy market. It is, according to Ehsan Khoman, head of research and strategist for MENA at global bank MUFG, “mayhem in May” for the global oil markets as geopolitics … Read moreMay Mayhem for Oil Prices: Three Factors that are Likely to Impact Supply

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New Rules on Ship Emissions Herald Sea Change for Oil Market

May 17, 2018, by Libby George and Ahmad Ghaddar LONDON (Reuters) – New rules coming into force from 2020 to curb pollution produced by the world’s ships are worrying everyone from OPEC oil producers to bunker fuel sellers and shipping companies. The regulations will slash emissions of sulfur, which is blamed for causing respiratory diseases … Read moreNew Rules on Ship Emissions Herald Sea Change for Oil Market

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Government Borrowing Costs Rise as Oil Heads Back to the 80s

May 16, 2018, by Marc Jones LONDON (Reuters) – The dollar took a breather at a five-month high on Thursday, though government borrowing costs continued to grind upwards as oil prices hit their highest since 2014 at almost $80 a barrel. Ten-year U.S. government Treasury yields, which are a key driver of global borrowing costs, … Read moreGovernment Borrowing Costs Rise as Oil Heads Back to the 80s

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EU Says Block on U.S. Sanctions on Iran of Limited Use for EU Banks

In a May 8 event at the White House, U.S. President Donald Trump signs a proclamation declaring his intention to withdraw from the Iran nuclear agreement. REUTERS/Jonathan Ernst

May 17, 2018, by Huw Jones LONDON (Reuters) – Using European Union powers to ban banks in the bloc from complying with U.S. sanctions on Iran would be of “limited” use given the global reach of finance, the EU’s financial services chief said on Thursday. U.S. President Donald Trump decided on May 8 to revive … Read moreEU Says Block on U.S. Sanctions on Iran of Limited Use for EU Banks

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Canada Backstops Kinder Morgan for Trans Mountain Delays

Pipeline

May 16, 2018, by Theophilos Argitis and Natalie Obiko Pearson (Bloomberg) Justin Trudeau’s government is prepared to reimburse Kinder Morgan Canada Ltd. for any financial losses incurred by “politically motivated” delays in its proposed pipeline expansion to the Pacific coast. Canadian Finance Minister Bill Morneau said Wednesday he will “indemnify” the C$7.4 billion ($5.6 billion) … Read moreCanada Backstops Kinder Morgan for Trans Mountain Delays

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Inspiring Terms Are Simple But ‘Climate Change’ Isn’t: Faye Flam

May 16, 2018, by Faye Flam (Bloomberg Opinion) As scientific terms go, “climate change” is failing. Good terms are specific, descriptive and help people to understand complex concepts. Climate change is ambiguous, referring perhaps to the most pressing human-generated environmental problem of the century, or to other kinds of changes that happen through natural forces … Read moreInspiring Terms Are Simple But ‘Climate Change’ Isn’t: Faye Flam

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Ending Iran Nuclear Deal Would Be Major Security Threat, EU Says

May 16, 2018, by Jones Hayden (Bloomberg) The European Union warned that ending the Iran nuclear deal would be a “major threat” to security in the Middle East as the bloc prepared measures to protect its companies if the Trump administration re-imposes sanctions following the U.S.’s withdrawal from the agreement. “We don’t want to see … Read moreEnding Iran Nuclear Deal Would Be Major Security Threat, EU Says

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Illinois Strikes Path To Midwest Solar Leadership

Tesla Solar Panels

May 15, 2018, by Jesse Grossman (Renewable Energy World) Two years ago, Illinois legislators passed the Future Energy Jobs Act in an effort to transition the state from its fossil-fueled industrial past into a future where solar and wind created jobs, cleaned the environment and saved electric ratepayers money. The goals envisioned by those lawmakers … Read moreIllinois Strikes Path To Midwest Solar Leadership

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Resolute Energy Corporation Appoints Three New Directors and Announces Intention to Declassify its Board

DENVER, May 15, 2018 (GLOBE NEWSWIRE) — Resolute Energy Corporation (“Resolute” or the “Company”) (NYSE:REN) today announced that it has appointed three new outside directors, determined to seek stockholder approval of a proposal to declassify its Board of Directors and reached a settlement with Monarch Alternative Capital LP. In addition, as part of its ongoing … Read moreResolute Energy Corporation Appoints Three New Directors and Announces Intention to Declassify its Board

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Ormat Provides an Update on the Puna Power Plant in Hawaii Following the Kilauea Volcanic Eruption

RENO, Nev., May 15, 2018 (GLOBE NEWSWIRE) — Ormat Technologies Inc. (NYSE:ORA) provides an update on the Puna geothermal power plant located about 15 miles away from the Kilauea volcano, which erupted on May 3, 2018 and which continues to erupt and flow lava. Plant and company personnel have been and continue to be in … Read moreOrmat Provides an Update on the Puna Power Plant in Hawaii Following the Kilauea Volcanic Eruption

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Deloitte Study: Businesses Taking Lead in Climate Response

NEW YORK, May 16, 2018 /PRNewswire/ — Spurred by consumer demand for eco-friendly practices, many businesses across the U.S. are moving aggressively to reduce their carbon footprint, including a major embrace of renewable energy and alternative-fueled vehicles, according to Deloitte’s “Resources 2018 Study – Businesses Drive, Households Strive” released today. The annual survey shows that businesses … Read moreDeloitte Study: Businesses Taking Lead in Climate Response

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Renewable Energy Investors Seek Solar Farms For High Returns

ASHEVILLE, N.C., May 16, 2018 /PRNewswire/ — With a solid track record of seven (7) years as a developer of Utility Scale Solar Farms, Innovative Solar Systems, LLC (ISS) is one of the most trusted Solar Energy companies in the U.S.  We earn this reputation by bringing vision and innovation to each Renewable Energy Investment we … Read moreRenewable Energy Investors Seek Solar Farms For High Returns

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Trump Said to Mull 2015 Grid Emergency Law to Save Coal Plants

May 15, 2018, by Jennifer A. Dlouhy and Ari Natter (Bloomberg) The Trump administration is weighing a broad array of strategies for keeping coal and nuclear power plants online as a matter of national security, with options ranging from invoking a 68-year-old law to a three-year-old one, according to a senior Energy Department official. Members … Read moreTrump Said to Mull 2015 Grid Emergency Law to Save Coal Plants

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Tesla Is Said to Lose Energy Leaders Amid Musk Reorganization

May 16, 2018, by Dana Hull and Mark Chediak (Bloomberg) Tesla Inc.’s energy unit has lost two leaders, adding to departures at the electric-car maker while CEO Elon Musk readies a reorganization of the top management team, according to people familiar with the matter. Arch Padmanabhan, the product director for Tesla’s stationary storage unit, and … Read moreTesla Is Said to Lose Energy Leaders Amid Musk Reorganization

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Five Things to Know in World Business Today

May 16, 2018, by Lorcan Roche Kelly (Bloomberg) Kim Jong Unimpressed North Korea has expressed disappointment with U.S. goals for the June 12 summit in Singapore, describing demands that the country surrender its nuclear weapons as “one-sided.” The comments came after the regime abruptly canceled talks with South Korea, citing military exercises. Markets in Seoul seem to … Read moreFive Things to Know in World Business Today

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IEA Warns Global Oil Demand May Suffer as Crude Nears $80

Oil pipe

May 16, 2018, by Amanda Cooper LONDON (Reuters) – Global demand for oil is likely to moderate this year, as the price of crude nears $80 a barrel and many key importing nations no longer offer consumers generous fuel subsidies, the International Energy Agency said on Wednesday. The Paris-based IEA cut its forecast for global … Read moreIEA Warns Global Oil Demand May Suffer as Crude Nears $80

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OPEC Sees Oil Rally Towards $80 as Short-Term Spike, not Supply-Driven

May 16, 2018, by Alex Lawler and Rania El Gamal LONDON/DUBAI (Reuters) – OPEC sees oil’s rally towards $80 a barrel as a short-term spike driven by geopolitics rather than any supply shortage, four OPEC delegates said, a sign the group is not rushing yet to rethink its supply-cutting agreement. The view of top exporter … Read moreOPEC Sees Oil Rally Towards $80 as Short-Term Spike, not Supply-Driven

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For Big Oil, Reserve Size Matters Less than Ever

May 16, 2018, by Ron Bousso LONDON (Reuters) – A decade ago, the news that the world’s top oil and gas companies had less than 12 years of production left in their reserves might have caused a panicked sell-off in their shares. But as consumers try to move away from fossil fuels to cleaner and … Read moreFor Big Oil, Reserve Size Matters Less than Ever

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Iran Asks Chinese Oil Buyers to Maintain Imports After U.S. Sanctions

May 16, 2018, by Chen Aizhu BEIJING (Reuters) – A senior official at Iran’s state-owned oil supplier met Chinese buyers this week to ask them to maintain imports after U.S. sanctions kick in, three people familiar with the matter said, but failed to secure guarantees from the world’s biggest consumer of Iranian oil. Company (NIOC), … Read moreIran Asks Chinese Oil Buyers to Maintain Imports After U.S. Sanctions

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Europe Offers No Guarantees but Vows to Keep Iran Deal Alive

The logos of Airbus group and IranAir are pictured the company IranAir takes delivery of the first new Western jet, an Airbus A321, under an international sanctions deal in Colomiers, near Toulouse, France, January 11, 2017. REUTERS/Regis Duvignau/File Photo

May 15, 2018, by Parisa Hafezi, John Irish and Robin Emmott BRUSSELS (Reuters) – European powers vowed to keep the 2015 nuclear deal alive without the United States by trying to keep Iran’s oil and investment flowing, but admitted they would struggle to provide the guarantees Tehran seeks. British, French and German foreign ministers, along … Read moreEurope Offers No Guarantees but Vows to Keep Iran Deal Alive

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Commentary: Trump’s Iran Decision Gives Unexpected Gift to Putin

Putin and Trump

May 15, 2018, by David A. Andelman (Reuters) Donald Trump’s decision to withdraw from the Iran nuclear accord has brought a bonus for the Kremlin. The U.S. president’s Iran action means that Vladimir Putin could make up with the soaring price of oil – the real backbone of the Russian economy and his hold on … Read moreCommentary: Trump’s Iran Decision Gives Unexpected Gift to Putin

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COLUMN-Rising Oil Prices Boost U.S. Economy: Kemp

By John Kemp LONDON, May 15 (Reuters) – U.S. net petroleum imports have fallen to the lowest level in more than half a century as a result of the shale revolution, which is profoundly changing the impact higher oil prices have on the economy. Since the 1860s, the United States has been the world’s largest … Read moreCOLUMN-Rising Oil Prices Boost U.S. Economy: Kemp

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Offshore Wind Farms Are Planned for California — But the Navy Says No to Large Sections of the Coast

Wind Turbines

May 15, 2018, by Rob Nikolewski (Renewable Energy World) Fans of renewable energy anticipate a bonanza blowing off the coast of California. But a map released by the U.S. Navy puts large swaths of the state off-limits to future offshore wind farms — including all of San Diego and Los Angeles counties, extending up to … Read moreOffshore Wind Farms Are Planned for California — But the Navy Says No to Large Sections of the Coast

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One-Fourth of U.S. Nuclear Fleet Is at Risk of Early Closure

The FirstEnergy Corp. Beaver Valley nuclear power station stands next to the Shippingport Bridge in Shippingport, Pennsylvania, U.S., on Wednesday, Dec. 6, 2017. Across America, few places are as dominated by big, centralized power plants as Shippingport. It was here, in the 1950s, that the federal government teamed up with private industry to build the country's first nuclear power plant. Photographer: Justin Merriman/Bloomberg

May 15, 2018, by Tim Loh (Bloomberg) More than a quarter of U.S. nuclear power plants don’t make enough money to cover their operating costs, raising the threat of more early retirements. Of the 66 nuclear power plants operating in the U.S., 24 are either scheduled to close or probably won’t make money through 2021, … Read moreOne-Fourth of U.S. Nuclear Fleet Is at Risk of Early Closure

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Here’s One Matador That Might Interest Oil Bulls: Liam Denning

May 15, 2018, by Liam Denning (Bloomberg Opinion) “Matador seeks bulls” sounds a tad too “dog bites man,” I know. But oil watchers should read on anyway. Matador Resources Co., an exploration and production company focused mainly on the Permian shale basin, did something Monday evening that was simultaneously unusual and par for the course: … Read moreHere’s One Matador That Might Interest Oil Bulls: Liam Denning

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Coal at Record Is Latest Pressure to Weigh on Utility Earnings

May 15, 2018, by Jesper Starn (Bloomberg) China’s thirst for energy is roiling markets in Europe, jolting the outlook for coal-hungry utilities as they struggle to cope with tighter pollution and environmental rules. Coal for delivery next year in Northwest Europe touched a record $90.65 a ton on Tuesday, a fifth consecutive day of gains that … Read moreCoal at Record Is Latest Pressure to Weigh on Utility Earnings

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Gulfport Energy Corporation Provides SCOOP Well Results

OKLAHOMA CITY, May 15, 2018 (GLOBE NEWSWIRE) — Gulfport Energy Corporation (NASDAQ:GPOR) (“Gulfport” or the “Company”) today provided an update on recent SCOOP well results. Key highlights include: Lilly 3-15X10H produced at an average 30-day production rate of 16.7 MMcfe per day, or 2,449 Mcfe per 1,000 foot of lateral. Lilly 4-15X10H produced at an … Read moreGulfport Energy Corporation Provides SCOOP Well Results

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American Midstream Reports First Quarter 2018 Results

HOUSTON, May 15, 2018 /PRNewswire/ — American Midstream Partners, LP (NYSE: AMID) (“American Midstream” or the “Partnership”) today reported financial results for the three months ended March 31, 2018. In the first quarter of 2018, American Midstream produced strong results, driven by meaningful growth across its core segments.  The Partnership continues to focus on simplifying the business … Read moreAmerican Midstream Reports First Quarter 2018 Results

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Oil at $100 a Barrel Won’t Hurt World Economy as Much as in 2011

Red Oil Barrels

May 15, 2018, by Catherine Bosley (Bloomberg) The global economic impact of oil hitting $100 a barrel won’t be as big as when that happened in 2011 thanks to changes in the U.S. An analysis by Bloomberg Economics estimated that oil touching the triple-digit mark would shave 0.4 percent off U.S. gross domestic product in … Read moreOil at $100 a Barrel Won’t Hurt World Economy as Much as in 2011

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Gas Giants Swap Roles as Biggest Buyer Set as Aussie Savior

May 14, 2018, by Perry Williams (Bloomberg) The gas market is being flipped upside down. Australia, soon to become the world’s biggest exporter of liquefied natural gas, is now turning to the largest buyer Japan as it seeks to import the fuel to ease a domestic supply crunch. In a scenario played out previously by … Read moreGas Giants Swap Roles as Biggest Buyer Set as Aussie Savior

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Five Things to Know in World Business Today

May 15, 2018, by Lorcan Roche Kelly (Bloomberg) Muddy waters Commerce Secretary Wilbur Ross told reporters yesterday that the U.S. is exploring alternative punishments for China’s ZTE Corp. for the “inappropriate things” the company has done, saying any enforcement action would be separate from trade talks. His position seemed to be contradicted by President Donald … Read moreFive Things to Know in World Business Today

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Solar Power Could Save Water in Thirsty Middle East, North Africa

Solar panel

May 14, 2018, by Sebastien Malo NEW YORK (Thomson Reuters Foundation) – Thirsty Middle Eastern and North African countries could tap into their solar-energy potential to cope with fresh water scarcity, according to resource experts. Water could be saved by switching to renewable solar energy from fossil fuel electricity generation that uses up water, said … Read moreSolar Power Could Save Water in Thirsty Middle East, North Africa

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Arctic Oil ‘Undrillable’ Amid Global Warming: U.N.’s Ex-Climate Chief

May 15, 2018, by Alister Doyle OSLO (Reuters) – An architect of the Paris climate agreement urged governments on Tuesday to halt oil exploration in the Arctic, saying drilling was not economical and warming threatened the environmentally fragile region. Christiana Figueres, formerly head of the U.N. Climate Change Secretariat when the Paris accord was reached … Read moreArctic Oil ‘Undrillable’ Amid Global Warming: U.N.’s Ex-Climate Chief

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Statoil to Become Equinor, Dropping ‘Oil’ to Attract Young Talent

Offshore drilling

May 15, 2018, by Nerijus Adamaitis OSLO (Reuters) – Shareholders in Norway’s largest company, Statoil (STL.OL), will approve on Tuesday the board’s proposal to drop “oil” from its name as its seeks to diversify its business and attract young talent concerned about fossil fuels’ impact on climate change. From Wednesday, the majority state-owned company will … Read moreStatoil to Become Equinor, Dropping ‘Oil’ to Attract Young Talent

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Investors See Big Oil Surge, but Physical Markets Suggest Caution

May 14, 2018, by Devika Krishna Kuman, Libby George and Florence Tan NEW YORK/LONDON/SINGAPORE (Reuters) – Oil futures prices have soared past three-year highs, OPEC’s deal has cut millions of barrels of inventory worldwide and investors are betting in record numbers that prices could rocket past $80 and even hit $90 a barrel this year. … Read moreInvestors See Big Oil Surge, but Physical Markets Suggest Caution

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U.S. Navy Expects ‘Uncertainty’ in Gulf After Iran Deal Withdrawal

An offshore oil platform is seen in Huntington Beach, California

May 14, 2018 ABOARD A MILITARY AIRCRAFT (Reuters) – The United States Navy is closely watching Iranian behavior in the Gulf and expects a “period of uncertainty” and increased level of alertness after President Donald Trump’s decision to withdraw from an international nuclear deal with Iran, the U.S. Navy chief said on Monday. Trump said … Read moreU.S. Navy Expects ‘Uncertainty’ in Gulf After Iran Deal Withdrawal

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EIA – Drilling Productivity Report – May

EIA’s Drilling Productivity Report (DPR) for May has now been released.  The DPR takes a fresh look at oil and natural gas production, starting with an assessment of how and where drilling for hydrocarbons is taking place.  It uses recent data on the total number of drilling rigs in operation along with estimates of drilling productivity and … Read moreEIA – Drilling Productivity Report – May

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U.S. Shale Output to Rise to Record 7.18 mln bpd in June – EIA

NEW YORK, May 14 (Reuters) – U.S. shale production is expected to rise by about 145,000 barrels per day to a record 7.18 million bpd in June, the U.S. Energy Information Administration said on Monday. A majority of the increase is expected to come from the Permian basin, the biggest U.S. oil patch, where output … Read moreU.S. Shale Output to Rise to Record 7.18 mln bpd in June – EIA

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Global Oil Supplies Robust Enough to Cut Iran’s Exports: Trump Memo

May 14, 2018 (Reuters) – Global oil supplies are plentiful enough to withstand a “significant reduction” in petroleum exports from Iran, according to a White House memo issued on Monday as the Trump administration prepares to reimpose sanctions on the OPEC member nation. The memo, sent by the White House to the U.S. State Department, … Read moreGlobal Oil Supplies Robust Enough to Cut Iran’s Exports: Trump Memo

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Europe Steps Up Bid to Salvage Iran Accord Ditched by Trump

May 14, 2018, by Patrick Donahue and Gregory Viscusi (Bloomberg) European powers alarmed by Donald Trump’s withdrawal from the Iran nuclear accord set out this week on an urgent search for ways to hold the deal together and avoid a further escalation of violence in the Middle East. With Chancellor Angela Merkel warning that faith in … Read moreEurope Steps Up Bid to Salvage Iran Accord Ditched by Trump

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California Puts Solar on the Roof and Up For Grabs: Liam Denning

May 14, 2018, by Liam Denning (Bloomberg) If we could somehow capture all the energy expended on Twitter when California approved new rooftop solar standards, we’d solve our climate problems immediately. The perpetual emotion machine has cranked up in response to the California Energy Commission passing a new building code that will, among other things, require most low-rise residential … Read moreCalifornia Puts Solar on the Roof and Up For Grabs: Liam Denning

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Key Energy Services Announces Chief Executive Officer Resignation and Appoints Interim Chief Executive Officer

HOUSTON, May 14, 2018 (GLOBE NEWSWIRE) — Key Energy Services, Inc. (“Key” or the “Company”) announced today that President and Chief Executive Officer Robert Drummond notified the Company of his decision to resign from his role as CEO to pursue another opportunity effective May 11, 2018. While Mr. Drummond was prepared to continue in his … Read moreKey Energy Services Announces Chief Executive Officer Resignation and Appoints Interim Chief Executive Officer

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Commentary: Trump’s Iran Nuclear Decision Ends Era in U.S.-Europe Ties

In a May 8 event at the White House, U.S. President Donald Trump signs a proclamation declaring his intention to withdraw from the Iran nuclear agreement. REUTERS/Jonathan Ernst

May 11, 2018, by John Lloyd (Reuters) Does Europe still have a partner, a big brother across the water? One which can be a scold, a nag, an annoyance, a puzzle – but which has always been there for it? A partner that is also a protector, with a military and security network of unrivalled … Read moreCommentary: Trump’s Iran Nuclear Decision Ends Era in U.S.-Europe Ties

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GOP Senators Want to Exempt Giant Solar-Farm Panels From Tariffs

May 12, 2018, by Christopher Martin (Bloomberg) Republican senators from five states with big solar farms are asking the Trump administration to exempt the workhorse of industrial solar panels from tariffs imposed earlier this year. The group of eight senators led by North Carolina’s Thom Tillis urged the administration to waive duties on 72-cell, 1,500-volt … Read moreGOP Senators Want to Exempt Giant Solar-Farm Panels From Tariffs

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KBR Awarded EPCM Contract by BOC to Develop Majnoon Field in Iraq

HOUSTON, May 14, 2018 /PRNewswire/ — KBR, Inc. (NYSE: KBR) announced today it has been awarded a contract by Basra Oil Company (BOC) for the development of the Majnoon Oil Field in Basra, Iraq. Under the terms of the contract, KBR will provide overall project management, multi-discipline engineering support, procurement and construction management services to … Read moreKBR Awarded EPCM Contract by BOC to Develop Majnoon Field in Iraq

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Western Gas Names New Chief Operating Officer

HOUSTON, May 13, 2018 /PRNewswire/ — Western Gas Partners, LP (NYSE: WES) and Western Gas Equity Partners, LP (NYSE: WGP) (collectively the “Partnerships”) announced that the boards of directors of their general partners have appointed Gennifer F. Kelly as Senior Vice President and Chief Operating Officer. “We are delighted to be able to add a proven … Read moreWestern Gas Names New Chief Operating Officer

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The 130-Year-Old Bankruptcy That Created a $5 Billion Oil Giant

May 14, 2018, by Kevin Crowley (Bloomberg) The hottest oil stock from the U.S. shale boom has never pumped a single barrel of crude. Texas Pacific Land Trust, a listed land bank created out of a railroad bankruptcy more than a century ago, has climbed more than 2,200 percent since 2010, outperforming the stocks of … Read moreThe 130-Year-Old Bankruptcy That Created a $5 Billion Oil Giant

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Five Things to Know in World Business Today

May 14, 2018, by Lorcan Roche Kelly (Bloomberg) ZTEasing Chinese Vice Premier Liu He will travel to the U.S. on Tuesday for trade talks with Treasury Secretary Steve Mnuchin as the standoff between the two countries appeared to ease over the weekend. Yesterday, President Donald Trump called for China’s ZTE Corp., which had been hit by sanctions, to be … Read moreFive Things to Know in World Business Today

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Trump Administration Axes Project to Generate Power from Plutonium

U.S. Energy Chief Rick Perry

May 13, 2018, by Timothy Gardner WASHINGTON (Reuters) – The Trump administration plans to kill a project it says would have cost tens of billions of dollars to convert plutonium from Cold War-era nuclear bombs and burn it to generate electricity, according to a document it sent to Congress last week. The Department of Energy … Read moreTrump Administration Axes Project to Generate Power from Plutonium

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South Korea Takes Dispute on U.S. Tariffs on Washing Machines, Solar Panels to WTO

May 14, 2018 SEOUL (Reuters) – South Korea said on Monday that it has taken a dispute to the World Trade Organization (WTO) against the United States for imposing tariffs on washing machines and solar panels as the measure was deemed to be in violation of the WTO agreement. South Korea’s Ministry of Trade, Industry … Read moreSouth Korea Takes Dispute on U.S. Tariffs on Washing Machines, Solar Panels to WTO

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Conoco Moves to Sell North Sea Oilfields

FILE PHOTO: Logos of ConocoPhillips are seen in its booth at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. REUTERS/Toru Hanai/File Photo - RC11AEA51EE0

May 14, 2018, by Ron Bousso LONDON (Reuters) – U.S. oil major ConocoPhillips is preparing to sell its North Sea fields as the company focuses on shale operations in its home market, industry and banking sources said. The disposal of Conoco’s North Sea assets after more than 50 years in the British offshore basin could … Read moreConoco Moves to Sell North Sea Oilfields

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Baker Hughes Said to Hold Talks With Abu Dhabi on Drilling Stake

May 14, 2018, by Dinesh Nair and Mahmoud Habboush (Bloomberg) Baker Hughes, a GE Co., is in talks with Abu Dhabi National Oil Co. to set up a partnership that could lead to the U.S. firm taking a minority stake in the state-owned energy giant’s drilling unit, according to people with knowledge of the matter. … Read moreBaker Hughes Said to Hold Talks With Abu Dhabi on Drilling Stake

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UAE Expects Next OPEC Meeting to Focus on Inventory not Sanctions

May 13, 2018 ABU DHABI (Reuters) – OPEC is more focused on identifying the right level of oil inventory at its next meeting than the impact on supplies of new U.S. sanctions on Iran, the United Arab Emirates said. President Donald Trump said last week that the United States was exiting an international nuclear deal … Read moreUAE Expects Next OPEC Meeting to Focus on Inventory not Sanctions

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Rouhani Says Iran May Remain Part of Nuclear Accord

May 13, 2018 DUBAI (Reuters) – President Hassan Rouhani said on Sunday that Iran would remain committed to the 2015 nuclear deal if its interests were protected, while his foreign minister hoped the pact could be redesigned without Washington as a member. The U.S. withdrawal from the accord on Tuesday was a “violation of morals”, … Read moreRouhani Says Iran May Remain Part of Nuclear Accord

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Rhetoric Over U.S. Exit From Iran Deal Rises Amid Threat of Sanctions

White House

May 13, 2018, by Valerie Volcovici and Richard Cowan WASHINGTON (Reuters) – The United States threatened on Sunday to impose sanctions on European companies that do business with Iran, as the remaining participants in the Iran nuclear accord stiffened their resolve to keep that agreement operational. White House national security adviser John Bolton said U.S. … Read moreRhetoric Over U.S. Exit From Iran Deal Rises Amid Threat of Sanctions

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Oil Cautious on Rise in U.S. Drilling, Iran Sanctions Opposition

Oil Tanker

May 13, 2018, by Henning Gloystein SINGAPORE (Reuters) – Oil prices edged lower on Monday as a relentless rise in U.S. drilling activity points to increased output, while resistance emerged in Europe and Asia to U.S. sanctions against major crude exporter Iran. Still, crude prices were near more than three-year-highs reached last week as markets expect … Read moreOil Cautious on Rise in U.S. Drilling, Iran Sanctions Opposition

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U.A.E. Sees OPEC Oil Capacity `Buffer’ Offsetting Iran Sanctions

May 13, 2018, by Mahmoud Habboush, Anthony DiPaola and Tracy Alloway (Bloomberg) OPEC has enough spare production capacity to cushion oil markets if the U.S. re-imposes sanctions on Iran, according to United Arab Emirates Energy Minister Suhail Al Mazrouei. Three members of the Organization of Petroleum Exporting Countries — Saudi Arabia, Kuwait and the U.A.E. … Read moreU.A.E. Sees OPEC Oil Capacity `Buffer’ Offsetting Iran Sanctions

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Let’s Talk About Net Present Value and Solar Panels: Justin Fox

Solar Panels

May 13, 2018, by Justin Fox (Bloomberg Opinion) In 1202, the Pisan customs official’s son who has come to be known as Fibonacci gave the world the mathematical tools to calculate the present value of a future stream of money. Now, 816 years later, net present value remains such a foreign concept to most people that … Read moreLet’s Talk About Net Present Value and Solar Panels: Justin Fox

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Pompeo: U.S. to Lift Sanctions if North Korea Dismantles Nuclear Weapons Program

Central Intelligence Agency (CIA) Director Mike Pompeo testifies during a Senate Intelligence Committee hearing on "Worldwide Threats" on Capitol Hill in Washington, DC, U.S., February 13, 2018. REUTERS/Leah Millis/File Photo

May 13, 2018,  by Sarah N. Lynch WASHINGTON (Reuters) – U.S. Secretary of State Mike Pompeo said on Sunday that Washington would agree to lift sanctions on North Korea if the country agrees to completely dismantle its nuclear weapons program, a move that would create economic prosperity that “will rival” that of South Korea. As … Read morePompeo: U.S. to Lift Sanctions if North Korea Dismantles Nuclear Weapons Program

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Climate Talks Stall as $100 Billion Still Out of Sight

May 12, 2018 by Mathew Carr (Bloomberg)  Two weeks of climate talks organized by the United Nations finished with developing countries demanding more clarity from their richer counterparts on when a promised package of $100 billion in finance will materialize. Envoys from almost 200 nations are leaving Bonn, Germany, on Thursday without producing a draft … Read moreClimate Talks Stall as $100 Billion Still Out of Sight

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At Meeting with Automakers, Trump Launches New Attack on NAFTA

Nafta Flags

May 11, 2018, by David Shepardson WASHINGTON (Reuters) – Ten American and foreign automakers went to the White House on Friday to push for a weakening of U.S. fuel efficiency standards through 2025, while President Donald Trump used the occasion to launch a fresh attack on the North American Free Trade Agreement that has benefited … Read moreAt Meeting with Automakers, Trump Launches New Attack on NAFTA

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Europe Moves to Safeguard Interests in Iran after U.S. Pullout

May 11, 2018, by Paul Carrel and Leigh Thomas BERLIN/PARIS (Reuters) – Europe’s largest economies lobbied to protect their companies’ investments in Iran on Friday, seeking to keep the nuclear deal with Tehran alive after Washington pulled out and threatened to impose sanctions on European companies. Germany and France have significant trade links with Iran … Read moreEurope Moves to Safeguard Interests in Iran after U.S. Pullout

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Climate Talks Stall as Detail Sought on $100 Billion Finance

May 10, 2018, by Mathew Carr (Bloomberg) Two weeks of climate talks organized by the United Nations finished with developing countries demanding more clarity from their richer counterparts on when a promised package of $100 billion in aid will materialize. Envoys from almost 200 nations are leaving Bonn, Germany, on Thursday without producing a draft … Read moreClimate Talks Stall as Detail Sought on $100 Billion Finance

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Automakers Seek to Use Trump Summit to Avert War With California

May 11, 2018, by Ryan Beene and John Lippert (Bloomberg) American automakers may be on a mission impossible when they visit the White House on Friday. They want to persuade President Donald Trump to cooperate with Jerry Brown, the Democratic governor of California, who invoked biblical references when calling the Trump administration’s proposal to roll … Read moreAutomakers Seek to Use Trump Summit to Avert War With California

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U.S. drillers add oil rigs for sixth consecutive week

May 11, 2018 Reuters (Reuters) – U.S. energy companies added oil rigs for a sixth week in a row as crude prices continue to soar to multi-year highs after new sanctions on Iran are anticipated to take some supply out of the market, further supporting U.S. drilling and pushing production to record highs. Drillers added 10 … Read moreU.S. drillers add oil rigs for sixth consecutive week

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EIA-Natural Gas Weekly Update Report – May 10, 2018

Natural gas sold at negative prices on TransCanada’s Alberta System The average spot price for deliveries at Western Canada’s AECO C price point declined to US -$0.01 per million British thermal unit (MMBtu) on Friday, May 4, according to price data from Natural Gas Intelligence (NGI). AECO C is a virtual trading point that includes … Read moreEIA-Natural Gas Weekly Update Report – May 10, 2018

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GulfMark Offshore Reports Results of Operations for the Quarter Ended March 31, 2018

Significant Financial and Operating Performance Improvements Forecasted By Recovery in the North Sea and Operational Efficiencies HOUSTON, May 10, 2018 (GLOBE NEWSWIRE) — GulfMark Offshore, Inc. (“GulfMark” or the “Company”) (NYSE:GLF) today announced its results of operations for the three-month period ended March 31, 2018. Items of note: Free cash flow positive in Q1 2018 … Read moreGulfMark Offshore Reports Results of Operations for the Quarter Ended March 31, 2018

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Noble Energy Finalizes Strategic Pipeline Agreement to Move Permian Crude Oil to Corpus Christi

Houston, May 10, 2018 (GLOBE NEWSWIRE) — Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or “the Company”) today announced that it has finalized an agreement with EPIC Pipeline, LP (“EPIC”) to transport crude oil from the Company’s Delaware Basin acreage position to Corpus Christi, Texas.  Noble Energy has secured firm capacity for 100 thousand barrels … Read moreNoble Energy Finalizes Strategic Pipeline Agreement to Move Permian Crude Oil to Corpus Christi

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Shale Gas Exporters to Gain as Iran Move Encourages Drilling

Crude Oil Shipments In The Persian Gulf

May 10, 2018, by Ryan Collins and Naureen S. Malik Another darling of the Trump administration is poised to gain from the Iran deal breakup as oil surges: Natural gas exports. With the move to curb Iran’s oil output encouraging more shale drilling, prices for natural gas produced alongside crude in West Texas could crater, … Read moreShale Gas Exporters to Gain as Iran Move Encourages Drilling

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What Happened in the World Economy This Week and What It Means

May 10, 2018, by Michelle Jamrisko (Bloomberg) Oil prices, the dollar, sanctions, trade tensions, trips to the International Monetary Fund and shock election results. Take your pick and financial markets felt turbulence this week with ramifications for the world economy. Emerging markets face the biggest test and that’s the central theme in our weekly wrap-up … Read moreWhat Happened in the World Economy This Week and What It Means

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Five Things to Know in World Business Today

May 11, 2018, by Lorcan Roche Kelly (Bloomberg) Trump test President Donald Trump’s tenure thus far has seen him walk away from international agreements, while showing little acumen for putting new ones together. However, the summit with North Korean leader Kim Jong Un, confirmed for June 12 in Singapore, gives the president the opportunity to … Read moreFive Things to Know in World Business Today

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ETP Plans 600,000 bpd Oil Pipeline from Permian to Texas Coast

May 10, 2018 NEW YORK (Reuters) – Energy Transfer Partners said on Thursday it plans to build a crude pipeline from the Permian basin in Texas to the Houston Ship Channel and Nederland, Texas, which will have an initial capacity of up to 600,000 barrels per day (bpd). The pipeline will be “easily expandable” to … Read moreETP Plans 600,000 bpd Oil Pipeline from Permian to Texas Coast

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Some U.S. Fund Managers Finally Convinced Oil Rally is for Real

Red Oil Barrels

May 10, 2018, by David Randall NEW YORK (Reuters) – U.S. fund managers are barreling into the energy sector by making broad bets on anything connected with oil, finally convinced that gains in crude prices – on track for their fourth consecutive quarterly gain, the longest such stretch for more than 10 years – are … Read moreSome U.S. Fund Managers Finally Convinced Oil Rally is for Real

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Texas Oil Drilling Permits Rose 34 Percent in April

Pump Jack

May 10, 2018, by Liz Hampton (Reuters) The Railroad Commission of Texas, which regulates the state’s oil and gas industry, issued 1,221 original drilling permits in April, up around 34 percent from last year. Oil prices have climbed to near $71 per barrel, the strongest level in nearly 3-1/2 years, aided by production cuts from … Read moreTexas Oil Drilling Permits Rose 34 Percent in April

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Iran Says U.S. Exit from Deal will not Impact Its Oil

May 10, 2018, by Parisa Hefezi ANKARA (Reuters) – Iranian Oil Minister Bijan Zanganeh said on Thursday that U.S. President Donald Trump’s decision to quit a multinational nuclear deal would not affect Tehran’s oil exports. “Trump’s decision will not have any impact on our oil export … that era is history now,” he told state … Read moreIran Says U.S. Exit from Deal will not Impact Its Oil

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U.S. Military Seeks Rules for Drilling in Eastern Gulf of Mexico

An offshore oil platform is seen in Huntington Beach, California

May 10, 2018, by Timothy Gardner and Jessica Resnick-Ault WASHINGTON/NEW YORK (Reuters) – An expansion of oil drilling in the eastern Gulf of Mexico would interfere with U.S. military testing unless the Pentagon and another agency develop rules to govern the work, the U.S. Department of Defense said in a report this week. The Defense Department … Read moreU.S. Military Seeks Rules for Drilling in Eastern Gulf of Mexico

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COLUMN-Oil Price Rise Poses Challenge for Sanctions Policy: Kemp

A rainbow is seen over a pumpjack during sunset outside Scheibenhard, near Strasbourg, France, October 6, 2017. REUTERS/Christian Hartmann

May 10, 2018, by John Kemp LONDON, May 10 (Reuters) – The United States and Saudi Arabia seem to have an understanding to keep the oil market well supplied and avoid a significant price rise after the U.S. re-imposition of sanctions on Iran. But exactly what this involves is not clear to the market, and … Read moreCOLUMN-Oil Price Rise Poses Challenge for Sanctions Policy: Kemp

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Plastics mines? Europe Struggles as Pollution Piles Up

May 11, 2018, by Alister Doyle OSLO (Reuters) – Europe has sent just over half the plastic waste it used to ship to China to other parts of Asia since Beijing’s environmental crackdown closed the world’s biggest recycling market in January. The knotty problem is what to do with the rest. Some of the surplus … Read morePlastics mines? Europe Struggles as Pollution Piles Up

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U.S. Diplomats Face Tough Task Imposing New Iran Oil Curbs

May 10, 2018, by Timothy Gardner WASHINGTON (Reuters) – By restoring sanctions against Iran, U.S. President Donald Trump has tasked a little-known State Department office with convincing companies and governments worldwide to cut imports of Iranian crude – even if that means paying more to buy oil from other suppliers. The Bureau of Energy Resources … Read moreU.S. Diplomats Face Tough Task Imposing New Iran Oil Curbs

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Shell Joins Tesla Exec as Investor in Ice Storage

Shell logo reflection in the mirror

May 10, 2018 (Renewable Energy World) Shell Ventures this week co-led a $7.6 million Series-A round of funding for ice storage provider Axiom Energy, joining previous investor Telsa CTO JB Straubel. Shell and GXP Investments co-led the round, which also included WorldQuant Ventures, SV Tech Ventures and Meson Capital. Axiom’s Refrigeration Battery uses the existing refrigeration system … Read moreShell Joins Tesla Exec as Investor in Ice Storage

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