Toshiba Corp. plunged by the daily limit in Tokyo as the once heralded U.S. nuclear renaissance is turning into a nightmare for the Japanese company. The shares fell by 20 percent to 311.6 yen in Tokyo, following a 12 percent drop Tuesday.
Category: Energy
Newly detected Aliso Canyon natural gas leak is a off-gassing,a says SoCalGas
The original gas leak detected on Oct. 23, 2015 at Aliso Canyon emitted 109,000 metric tons of methane and displaced at least 7,000 Porter Ranch area residents. PORTER RANCH – There are possible new concerns for Porter Ranch residents near the Aliso Canyon underground gas field today as a small amount of methane was detected seeping out of soil near a gas well plugged earlier this year following a four-month leak.
China to Cut Solar, Wind Power Prices as Project Costs Fall
China is reducing the amount of money it pays to newly completed solar and wind power generators for their electricity, in order to reflect declines in construction costs, the country’s price regulator and economic planner said Monday. The nation will cut tariffs paid to solar farms by as much as 19 percent in 2017 from this year’s levels, and by as much as 15 percent for wind mills in 2018 from current prices, according to a statement posted on the National Development and Reform Commission’s website.
100% Renewable: Las Vegas Is Now a Beacon Of Sustainability
Las Vegas may not be the first city you think of when you think of sustainability, but maybe it should be. When SunPower recently turned on the Boulder 1 solar project, the City of Las Vegas’ government became the first in the country to be entirely powered by renewable energy.
This Week in Solar
The end of the year is usually quiet for most businesses, but for the solar industry it can be a time of big changes. Legislation and regulatory changes are often pushed through just before the end of the year, which has had a huge impact on the solar industry in years past.
How to Trade Chevron, Exxon Mobil as They Lag Crude Oil
As crude oil sets new 2016 highs, so do shares of Chevron and Exxon Mobil, with Chevron eking out a new high on Wednesday. Here’s how to trade them.
Oil Slips As EIA Report Shows Larger-than-expected Climb In Inventories
Oil futures trade modestly lower Wednesday after the U.S. Energy Information Administration reported that domestic-crude supplies climbed, but inventories of gasoline and distillates, which include heating oil and diesel, declined in the week ended Dec. 16. Crude supplies rose 2.2 million barrels. That was contrary to the 2.3-million-barrel fall expected by analysts polled by The Wall Street Journal.
World’s Biggest Wealth Fund Bans 15 More Coal-Reliant Companies
Norway’s $870 billion sovereign wealth fund expanded the list of miners and power producers excluded from its portfolio as it continues to cull its investments of coal-related businesses. After an initial exclusion of 44 companies, 15 more have now been banned, including U.S.-based Alliant Energy Corp. and Westar Energy Inc., Malaysia’s Tenaga Nasional Bhd and Canada’s Emera Inc., according to a statement from Norges Bank Investment Management.
Covey Park continues Haynesville roll up with Chesapeake asset deal
The Denham Capital Management LP-backed operator has been an active consolidator in the play in 2016, while the $465 million deal wraps up the seller’s $2 billion divestiture program. Chesapeake Energy Corp. said Tuesday, Dec. 20, it has reached an agreement to sell the second portion of the company’s acreage and producing properties in the Haynesville Shale in northern Louisiana to an affiliate of private equity-backed Covey Park Energy LLC for $465 million.
Delta and Alaska Air Terminate Their “Frenemy” Relationship
While the two carriers have a codeshare and frequent flier partnership, they have aggressively entered each other’s markets and tried to steal customers from one another. This week, Delta and Alaska Air abandoned the pretense of being partners.
Rosneft Could Accelerate Global Expansion in 2017, Says WoodMac
Rosneft PJSC has the opportunity to accelerate its international expansion next year as the political environment becomes more favorable for the state-run Russian oil producer. U.S. President-elect Donald Trump’s “Russia-friendly rhetoric” and the appointment of Exxon Mobil Corp. Chief Executive Officer Rex Tillerson as Secretary of State “are likely to have a profound impact on the way Russia is perceived by the West,” according to consultant Wood Mackenzie Ltd. Rosneft has recent international success to build upon — its $1.1 billion purchase of a stake in an Egyptian gas field and the Russian government’s sale of 19.5 percent of the company to Glencore Plc and Qatar’s sovereign wealth fund.
Tillerson’s Foreign Prowess Said Aided by Exxon Intelligence Arm
Even before Donald Trump tapped him to be the top U.S. diplomat, Rex Tillerson already had his own State Department. Behind the walls of Exxon Mobil Corp.’s secluded corporate headquarters in suburban Dallas, a little-known intelligence unit works to keep top executives informed on economic, social and political situations around the world so they never walk into a foreign negotiation unprepared.