Hurricane Isaac Hits U.S. Crude Supply
Production shut-ins due to Hurricane Isaac get most of the blame for the lower petroleum inventory levels we saw last week. Not only was production shut down for several days, but major refineries were…
Energy
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Newest first · Page 354Natural Gas Supply Increase Lower on Hurricane Shut-Ins (XOM, CHK, EOG, UNG, OIH)
The U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks rose by a total of 28 billion cubic feet, less than the 36 billion cubic feet that analysts were expecting. Natural…
Chesapeake Will Shed $14 Billion in Assets by Year-End
In a presentation to investors, Chesapeake Energy Corp. (NYSE: CHK) CEO Aubrey McClendon said the company is on track to sell up to $14 billion in assets by the end of 2012 and another…
TransCanada Submits Keystone XL Route Changes
Canadian pipeline company TransCanada Corp. (NYSE: TRP) today submitted a revised Supplemental Environmental Report to the state of Nebraska related to the company’s proposed Keystone XL pipeline project. Today’s submission offers TransCanada’s proposed re-routing…
Saudi Arabia Could Become Oil Importer — Citigroup
The world’s largest producer of crude oil and its largest exporter of crude could become a net importer of crude in the next 20 years according to an analyst at Citigroup Inc. (NYSE: C).…
U.S. Charges BP with Gross Negligence (BP, RIG)
The explosion and sinking of the Deepwater Horizon in April 2010 killed 11 workers and spilled millions of barrels of crude oil into the Gulf of Mexico. BP PLC (NYSE: BP) has spent billions…
Solar Stocks: Looking for a Value Play (CSIQ, FSLR, GTAT, WFR, SPWR, JASO, LDK, STP, TSL, YGE)
Solar stocks have fallen so far in the past year and a half that there doesn’t seem to be any further for them to fall. But that’s not the way the stocks are being…
August Gasoline Prices at Seven-Year High
U.S. gasoline prices rose an average of 8.75% a gallon in August to $3.69 a gallon. The price hike is the largest for the month of August in seven years according to the AAA.…
Production Returns in the Wake of Hurricane Isaac (E, RDS-A, XOM, CVX, BP, PSX, VLO)
Crews were returning to both shallow-water and deep-water rigs in the Gulf of Mexico yesterday as the oil and gas industry prepares to restart production following Hurricane Isaac. A report from Platts noted that…
Natural Gas Producers Can’t Slow Down Fast Enough (XOM, CHK, EOG, UNG, OIH)
The U.S. Energy Information Administration (EIA) today reported the U.S. natural gas stocks rose by a total of 66 billion cubic feet, higher than the 61 billion cubic feet that analysts were expecting. Natural…
First Solar Project Too Successful (FSLR, NRB, BRK-A, BRK-B, PCG)
Solar maker First Solar Inc. (NASDAQ: FSLR) will not ship any more modules to the company’s Agua Caliente solar farm project until January 2013. The stoppage is the result of the project being ahead…
Crude Inventories Rise, Price Slips
The U.S. Energy Information Administration (EIA) released its weekly petroleum status report this morning. U.S. commercial crude inventories rose by 3.8 million barrels last week, bringing the total U.S. commercial crude inventory to 364.5…
More Bleeding in Solar Sector (JASO, YGE)
Solar cell and module makers JA Solar Holdings Co. Ltd. (NASDAQ: JASO) and Yingli Green Energy Holding Co. Ltd. (NYSE: YGE) reported second-quarter earnings this morning and both fell short of consensus estimates. JA…
Top Analyst Upgrades and Downgrades (ANGI, BNS, BIDU, CYBX, IDXX, IBM, KIRK, MYL, PNRA, PBH, SCHN, TEAR, TEVA, WPI, RDC, ATW, NE, DO, ORIG, ESV, HERO, SDRL, RIG)
Jon OggThese are the top analyst calls of upgrades, downgrades and initiations we have seen from Wall St. research calls this Wednesday morning. Angie’s List Inc. (NASDAQ: ANGI) raised to Outperform at Oppenheimer. Bank…
No Crude Spike from Isaac
Oil traders ignored the fact that Hurricane Isaac, now a Category 1 storm, stepped ashore in Louisiana. WTI crude actually dipped nearly $1 to $95.55. Despite the billions of dollars of damage the rain…