Oil Could Challenge $80/Barrel Again
Crude oil has so far been in free-fall. Black gold broke down further on Wednesday after breaking key support on Tuesday. December Crude futures on NYMEX were down $0.95 or 1.1% to $85.72. The…
Energy
All Energy Articles
Newest first · Page 346Delaware Offshore Wind Project Leases Granted, But Project is Stalled (NRG)
The U.S. Department of Interior’s Bureau of Ocean Energy Management (BOEM) has agreed to lease 96,430 acres of federal waters about 11 miles off the Delaware coast for the development of a proposed 450-megawatt…
OPEC Can’t Agree on New Leader
The Organization of Petroleum Exporting Countries (OPEC) has been reviewing candidates to replace Libya’s Abdalla el-Badri as secretary general of the organization. A panel comprised of junior OPEC officials has been meeting to review…
Inventory Builds Signal Lower Gasoline Prices
The U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories increased by 5.9 million barrels last week, bringing the total U.S. commercial crude inventory to 375.1…
Gasoline Prices Coming Down Around the U.S. with Crude Oil
coutesy of Exxon Mobile Corp.When the public gets a big drop in the price of oil, it is generally thought to be considered as a pay raise for Joe Public. The problem comes into…
Canada Wants Chinese Reciprocity in Exchange for Nexen
The Canadian government is nearing a ruling on the proposed $15.1 billion acquisition of Nexen Inc. (NYSE: NXY) by China’s Cnooc Ltd. (NYSE: CEO), and the government is apparently seeking reciprocity as part of…
Chevron’s Reputation as a Major Polluter Grows
Chevron Corp.’s (NYSE: CVX) reputation as a major polluter recently has grown rapidly, and the cause is not just fines of more than $19 billion to Ecuador for environmental damage in the Amazon region.…
Gasoline Prices Plunge at Last
Jon OggFinally, after a run-up in gasoline prices, they have begun to fall rapidly. The trend may help offset consumer concerns about their financial troubles as the fiscal cliff approaches. The impact of the event could…
Nat-Gas Takes Worst Drop in 60 Days
With some November futures expiring, natural gas and crude hit skid row today. After looking at the tapes the drop in oil was almost 2% but the drop in natural gas was by more…
A123 Stock Soaring — to $0.19
Shares of A123 Systems Inc. (NASDAQ: AONE) have jumped more than 50% (again) today after one of the company’s lenders and shareholders, China’s Wanxiang Group Corp., said it would waive its rights to exercise…
Poor Solar Market Chases Out Siemens
German conglomerate Siemens AG (NYSE: SI) said today that it will exit the solar business by offering its solar assets for sale. The company said in a statement: Due to the changed framework conditions,…
BP Dumps Its TNK-BP Stake
British oil giant BP PLC (NYSE: BP) announced this morning that it has reached a tentative agreement to sell its 50% stake in TNK-BP to Russia’s state-controlled oil company Rosneft for $17.1 billion in…
Canada Blocks Energy Sale to Malaysia; Is Chinese Deal Next?
Saying that he is not convinced that a sale of Canada’s Progress Energy Resources to Malaysia’s state-owned oil company, Petronas, “is likely to be a net benefit to Canada,” the country’s industry minister rejected…
Gasoline Prices Fall, but Remain Too High
coutesy of Exxon Mobile Corp.The hope that gasoline prices in the United States will drop finally has some support, based on recent numbers. The AAA Fuel Gauge report shows that the price for an…
Goldman Sachs: Crude Price Needs to Rise to Support New Drilling
In a research note to customers, long-time oil bull Goldman Sachs now says that Brent crude prices will tumble to $105 a barrel by the end of next year and could be as low…