The Alberta Energy Regulator said on Monday it is responding to a crude spill by Husky Energy Inc in Canada’s oil-rich Alberta, and while the pipeline in question has been shut, the leaked volume and cause are unknown. According to the agency, the incident happened last Thursday, and the company is still working to isolate the oil, which leaked into the Coxhill Creek stream west of Alberta’s largest city of Calgary.
Category: Energy
Panel rules Venezuela won’t have to pay $1.4B to Exxon Mobil
A World Bank arbitration panel has determined that Venezuela will not have to pay $1.4 billion to Exxon Mobil Corp. for confiscating company assets during a wave of nationalizations. The Washington-based panel issued a ruling that annulled most of the $1.6 billion judgment against Venezuela.
Can giant Tesla batteries solve South Australia’s energy woes?
Desperate for a more stable energy supply, the state seems willing to give Elon Musk’s technology a try. He’ll have 100 days to deliver.
PM Trudeau tells Houston energy conference border tax would hurt both economies
Prime Minister Justin Trudeau made it clear he is flatly against a proposed U.S. border adjustment tax, telling a global gathering of politicians and energy sector executives it would hurt the economy in both countries. “Recognizing, of course, how much the Canadian economy depends on close collaboration and integration with the American economy, anything that creates impediments at the border – extra tariffs or new taxes – is something we’re concerned with,” Trudeau said Thursday night in Houston, Texas.
IEA Predicts Tight Oil Market Without Cash Infusion
Demand for the group’s output will be at 33 million barrels a day in 2018, roughly in line with the amount it pumped before cutting production. Libya is a member of the Organization of Petroleum Exporting Countries that’s exempt from a group-wide production ceiling, though fighting has led to output cuts of around 37,000 barrels per day, or about 5 percent of total production based on January data.
IEA Predicts Tight Oil Market Without Cash Infusion
Demand for the group’s output will be at 33 million barrels a day in 2018, roughly in line with the amount it pumped before cutting production. Libya is a member of the Organization of Petroleum Exporting Countries that’s exempt from a group-wide production ceiling, though fighting has led to output cuts of around 37,000 barrels per day, or about 5 percent of total production based on January data.
Seadrill – 3 Offshore Drillers Poised To Win The 3 ONGC 3-Year Tenders – Is It Really Worth It?
On December 23, 2016 Upstream indicated that ONGC submitted offers for two units able to drill in 1500 metres of water, and one rig to drill in 600 metres. The Sevan Driller, the Platinum explorer and the Olinda star are the three rigs that will probably be awarded the 3-year contracts.
Exxon plans $20 billion expansion of Texas, Louisiana plants
Exxon Mobil is spending $20 billion through 2022 to expand its chemicals and fuel-making capacity in Texas and Louisiana to transform U.S. shale oil and natural gas into products for growing consumer markets in Asia. After decades of siting new plants to make plastics, industrial chemicals and motor fuels in the Middle East and East Asia, the shale boom is spurring Exxon to steer construction dollars back to its home country, Chief Executive Officer Darren Woods said in remarks prepared for the CERAWeek energy conference in Houston on Monday.
BRIEF-Bahrain Flour Mills signs strategic partnership with MondelA”z International
BAGHDAD, March 5 Britain has agreed to arrange 10 billion pounds in loans to Iraq, to help the country to finance important infrastructure projects, an official from the Iraqi finance ministry told Reuters on Sunday. ABU DHABI, March 5 Abu Dhabi investment fund Mubadala Development Co sold nearly a third of its stake in Advanced Micro Devices, booking a tiny gain on its investments in the micro chip maker.
Akfen Working With Morgan Stanley, Goldman on Asset Sales an hour ago
Turkey’s Akfen Group is in talks with banks including Morgan Stanley and Goldman Sachs Group Inc. to advise on the sale of assets after completing its restructuring this month. The Ankara-based company is also in discussions with Credit Suisse Group AG and Deutsche Bank AG to find potential buyers for its overall holding businessAkfen Holding AS or stakes in individual companies such as Mersin International Port and renewable energy producer Akfen Yenilenebilir Enerji AS, Akfen Group Chairman Hamdi Akin said.
Exxon forced to make cuts to reported reserves
Reported oil and gas reserves at ExxonMobil dropped by 19 per cent last year as it revised away 3.5bn barrels of heavy bitumen at an oil sands project in Canada, the largest drop to be reported by one of the big international oil companies for at least a decade. In its 10-K annual report , filed to the Securities and Exchange Commission on Wednesday evening, Exxon said low oil and gas prices during 2016 meant that some of its assets no longer qualified as proved reserves.
Press Digest- Canada- Feb 22
Feb 22 The following are the top stories from selected Canadian newspapers. Reuters has not verified these stories and does not vouch for their accuracy.
As Mexico awaits US visit, some question point of talks
In this Feb. 10, 2017 photo, Secretary of State Rex Tillerson smiles while greeting the media during a meeting with Japan’s Foreign Minister Fumio Kishida at the State Department in Washington. In his first weeks as America’s top U.S. diplomat, Secretary of State Rex Tillerson has gone to great lengths to avoid attracting attention.
As Mexico awaits US visit, some question point of talks
In this Feb. 10, 2017 photo, Secretary of State Rex Tillerson smiles while greeting the media during a meeting with Japan’s Foreign Minister Fumio Kishida at the State Department in Washington. In his first weeks as America’s top U.S. diplomat, Secretary of State Rex Tillerson has gone to great lengths to avoid attracting attention.
Federal government abandons Sable Island wind project 15 years after its launch
Horses on Sable Island, N.S., are shown in this undated handout photo. The harsh conditions and extreme isolation of Sable Island has forced Ottawa to abandon a wind project on the iconic crescent-shaped sandbar — more than 15 years after it launched the initiative.
Midnight Oil announce world tour
It’s been two decades since Midnight Oil did a world tour and only a handful of gigs have peppered the time between now and 2002, when frontman Peter Garret decided to focus on his political career. They will play over fifty shows in six months with a full tour of Australia including many regional stops as well as shows in South America, the US, Canada and Europe.
Yingli Green Energy Holding Company Limited (YGE) Stock Rating Upgraded by Zacks Investment Research
According to Zacks, “Yingli Green Energy Holding Company Limited is a leading vertically integrated manufacturer of photovoltaic products in China. Yingli was incorporated in the Cayman Islands in August and operates through its principal operating subsidiary, Baoding Tianwei Yingli New Energy Resources Co., Ltd. or Tianwei Yingli, based in Baoding, Hebei Province, eighty five kilometers south of Beijing.
Using H-1B Visas To Help Outsource IT Work Draws Criticism, Scrutiny
An employee walks along a path at the Tata Consultancy Services Ltd. Synergy Park campus in Hyderabad, India, in 2016. Some in-house PG&E employees will be replaced by workers from TCS.
Analysts’ Recent Ratings Updates for Pioneer Natural Resources Company
Several brokerages have updated their recommendations and price targets on shares of Pioneer Natural Resources Company in the last few weeks: 2/8/2017 – Pioneer Natural Resources Company was upgraded by analysts at Societe Generale from a “hold” rating to a “buy” rating. 2/2/2017 – Pioneer Natural Resources Company had its “buy” rating reaffirmed by analysts at Canaccord Genuity.
Analysts’ Recent Ratings Updates for Pioneer Natural Resources Company
Several brokerages have updated their recommendations and price targets on shares of Pioneer Natural Resources Company in the last few weeks: 2/8/2017 – Pioneer Natural Resources Company was upgraded by analysts at Societe Generale from a “hold” rating to a “buy” rating. 2/2/2017 – Pioneer Natural Resources Company had its “buy” rating reaffirmed by analysts at Canaccord Genuity.
Material can turn sunlight, heat and movement into electricity – all at once
Many forms of energy surround you: sunlight, the heat in your room and even your own movements. All that energy – normally wasted – can potentially help power your portable and wearable gadgets, from biometric sensors to smart watches.
BRIEF-Jeffrey Jay reports 18.97 percent stake in Connecture Inc
* Whitebox Advisors LLC reports a 6.8 percent passive stake in Comstock Resources Inc as of January 27, 2017 – SEC filing Source text: Further company coverage: JAKARTA, Feb 7 Indonesia will hold a court hearing on Tuesday into a billion-dollar dispute between Goldman Sachs and a local tycoon, who says the Wall Street giant’s unit unlawfully sold shares he owned, in the latest test for the country’s legal system.
Dakota Access and Keystone XL Pipelines Revived: Why Does It Matter?
On January 24, President Trump signed a Presidential Memorandum expediting review of the application to build the Dakota Access Pipeline. Construction of the 1,172 mile, $3.7 billion pipeline that carries oil from North Dakota into Illinois is almost complete, except for a 1,100 foot section under North Dakota’s Lake Oahe , an important reservoir on the Missouri River.
China to launch green certificates for renewable power in July
China will launch the trading of green certificates for solar and wind power on July 1 in a bid to help reduce government subsidies to the renewables sector, the National Development and Reform Commission said on Friday. In a pilot program, the NDRC said solar and wind producers would be issued tradeable certificates, proving that electricity has been generated through renewable energy sources.
‘CEO’ Tillerson faces internal skeptics, crisis-battling White House
US Secretary of State Rex Tillerson listens during an opening session meeting of G-20 foreign ministers at the World Conference Center February 16, 2017 in Bonn, Germany. U.S. Secretary of State Rex Tillerson looks over papers before a meeting on Syria at the World Conference Center in Bonn, western Germany, February 17, 2017.
Today in History Wednesday, Feb. 01, 2017
On Jan. 30, 1948, Indian political and spiritual leader Mohandas K. Gandhi, 78, was shot and killed in New Delhi by Nathuram Godse , a Hindu extremist. In 1815, the U.S. House of Representatives joined the Senate in agreeing to purchase the personal book collection of former President Thomas Jefferson to replace volumes lost when the British burned the U.S. Capitol and its congressional library during the War of 1812.
Ph.D. candidate at USF went to care for mother, now stuck in Iran
Mehdi Zeyghami, photographed here at a solar power plant operated by the University of South Florida, learned Monday he may lose his shot at a Ph.D. from USF because he traveled back to Iran to care for his mother. An executive order from President Donald Trump bars Iranians from entering the United States for 90 days.
Azuri Partners with NDPHC to Launch PayGo Solar in Nigeria
Azuri is delighted to announce a partnership with the Niger Delta Power Holding Company to launch its PayGo Solar Home Systems in Nigeria, to deliver affordable, clean energy to 20,000 rural households living without electricity. Azuri’s PayGo Solar Home systems include four bulbs providing up to 8 hours of lighting, a radio and a USB port for charging mobile phones.
What is ExxonMobil doing in Iraq?
The country is one of seven covered by President Trump’s travel ban. And the company is the only American firm still operating under an oil license granted by the Iraqi government.
Off-grid clinic uses renewable energy to support health services in Chile
The quiet coastal enclave of Caleta El Sauce is as beautiful as it is remote, which means the sleepy fishing village only receives regular medical assistance every 30 days. To assist visiting doctors, SAA arquitectura + territorio designed a small health clinic for the community-a rather difficult task given the hard-to-reach location and absence of readily available potable water and electricity.
10 Things to Know for Today
Jake Hart, 13, plays in the rising floodwater during a storm in Seal Beach, Calif., Sunday, Jan. 22, 2017. The heavy downpour on Sunday drenched Orange County in one of the heaviest storms of the year.
Beijing To Spend $2.7 Billion On Cleaning Capital’s Air
Part of the money will be used to close or upgrade more than 2,000 polluting factories, replace the use of coal with clean energy on the outskirts of the city and phase out 300,000 high-polluting older vehicles, the official Xinhua News Agency said, citing Beijing’s acting mayor, Cai Qi. Authorities are eager to bring about a visible improvement in China’s bad air, especially in the high-profile capital and its surrounding areas.
BRIEF-Interoil says shareholders to vote on Exxon deal on Feb. 14
ROME, Jan 16 McDonald’s received a lukewarm reception when it opened a new branch just steps from St. Peter’s Square last month, but on Monday the fast food giant accepted a challenge to adopt one of Pope Francis’s cherished principles – feeding the hungry.
BRIEF-TechnipFMC secures AMF approval of its prospectus for listing its shares on Euronext Paris
TOKYO, Jan 16 Japan’s Nikkei share average fell on Monday to its lowest level in more than two weeks, hurt as the yen appreciated on concerns Britain might make a “hard” exit by from the European Union.
Trump’s foreign policy nominees flat-out disagree with him
Secretary of State-designate Rex Tillerson testifies on Capitol Hill in Washington at his confirmation hearing. Donald Trump ‘s foreign policy nominees launched a Reassurance Offensive last week, promising Congress – and the rest of us – that the next president won’t be as scary as he sounds.
Power company wants to introduce sea water A/C system to Jamaica
Jamaican power and conservation solutions company, New Leaf Power said it is desirous of introducing sea water air conditioning technology to Jamaica following a 12-member public and private sector study tour of two alternative energy systems in Canada. This is against the background that in the Caribbean, according to the Caribbean Development Bank , air conditioning accounts, on average, for 50 per cent of total energy consumption in commercial buildings, while sea water technology is estimated to reduce electricity consumption for air conditioning by up to 90 per cent.
Deals of the day-Mergers and acquisitions
** Britain’s Centrica has completed its withdrawal from wind power generation with the sale of a 50 percent stake in the Lincs offshore wind farm to the Green Investment Bank and its offshore wind fund, the companies said. ** Private equity firms Advent and Bain Capital agreed to buy German payment group Concardis from a group of private, savings and cooperative banks, the parties said in a joint statement, not disclosing a purchase price.
On Russia, Tillerson can look to Reagan
Confirmation hearings for former ExxonMobil CEO Rex Tillerson to become secretary of state began with Sen. Marco Rubio and others questioning Tillerson on the biggest newsmaker of the moment: Russia. Vladimir Putin’s regime not only meddled in the U.S. election; Russia’s alliance with Syria’s Bashar Assad has been responsible for the loss of countless lives and awful regional instability.
How OPEC’s Production Cuts Are Affecting the U.S. Oil Market
For the first time in years, an oil production cut that OPEC members have promised is actually going through, and having its desired effect. In this clip from Industry Focus: Energy , Motley Fool analysts Sean O’Reilly and Taylor Muckerman talk about how the cartel’s move to ease back on crude output is affecting U.S. drillers and energy services companies so far, and some industry trends we’re probably going to see as a result.
Trump’s choice for top US diplomat talks tough on China
Senate Foreign Relations Committee member Sen. Chris Murphy, D-Conn. questions Secretary of State-designate Rex Tillerson during the committee’s confirmation hearing Tillerson, Wednesday, Jan. 11, 2017, on Capitol Hill in Washi… WASHINGTON – Pointing toward possible confrontation, Donald Trump’s selection for secretary of state likened Beijing’s island-building in the South China Sea to a takeover of another country’s territory and spoke of forcing Beijing to fully apply sanctions on North Korea.