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Updated: 1 year 48 weeks ago

Hawaii gov seeks clean energy financing approval

Tue, 06/10/2014 - 08:37
The state is asking the Public Utilities Commission to approve Hawaii Gov. Neil Abercrombie's plan for clean energy financing. The State Energy Office said Monday the administration wants to make low-cost ...

Arkansas lawsuit against Exxon Mobil to proceed

Tue, 06/10/2014 - 08:16
A lawsuit filed by federal and state officials will go forward against Exxon Mobil Corp. over a crude oil spill that forced the evacuation of 22 homes in Mayflower, a U.S. district judge ruled Monday. ...

Chevron boosts donation in Nigeria, its No. 2 source of crude

Tue, 06/10/2014 - 05:20

Chevron Corp plans to nearly double its donation to Nigerian social projects over the next five years, part of a choreographed plan to improve the local economy and bolster the company's supply chain in the African country, its second-largest source of crude oil. Chevron is donating $40 million to the Niger Delta Partnership Initiative (NDPI), a nonprofit it helped form in 2010 with $50 million in seed money. The second round of funding will make NDPI the largest recipient of Chevron donations in the company's history, executives said. The NDPI works with local organizations in the Niger River Delta to help cull HIV transmission rates, teach cassava farmers marketing techniques and connect catfish breeders with feed suppliers, among other projects.

Oil, energy prices jump on Asian economic reports

Mon, 06/09/2014 - 15:20
Oil prices rose Monday after investors got two positive reports on Chinese exports and economic growth in Japan. U.S. oil for July delivery gained $1.75, or 1.7 percent, to close at $104.41 a barrel, its ...

Peter Glaser, Father of Solar-Power Satellite Idea, Dies at 90

Mon, 06/09/2014 - 14:59

Peter Glaser, a space pioneer who introduced the idea of using satellites to beam solar energy from space down to Earth, has died at the age of 90. His contributions to space science and technology were not limited to the solar-power satellite concept;

Rhode Island gas prices dip 2 cents from last week

Mon, 06/09/2014 - 10:05
Gasoline prices in Rhode Island have fallen 2 cents from last week. AAA Southern New England's latest price survey, released Monday, found the average cost of a gallon of self-serve regular is $3.68. That's ...

McClendon's firm to buy $4.25 billion of U.S. shale assets

Mon, 06/09/2014 - 09:55

(Reuters) - Aubrey McClendon's firm American Energy Partners LLP on Monday said it plans to buy shale oil and gas assets for $4.25 billion, the former Chesapeake Energy Corp CEO's biggest deal package yet in an aggressive bid to build a new company. McClendon, who co-founded Chesapeake in 1989 and built it into the second largest U.S. producer of natural gas, was pushed out of the company in April last year after he clashed with the board over spending and a governance crisis. Since then, his Oklahoma City, Oklahoma-based American Energy Partners has secured commitments for $10 billion in financing and its biggest equity investor is Energy & Minerals Group, a Houston based private equity firm run by John Raymond, the son of former Exxon Mobil Corp CEO Lee Raymond.

Unit of Australia's Swala Energy says launches Tanzania IPO

Mon, 06/09/2014 - 09:29
By Fumbuka Ng'wanakilala DAR ES SALAAM (Reuters) - A Tanzanian unit of Australia's Swala Energy Ltd is selling an almost 10 percent stake worth 4.8 billion shillings ($3.52 million) in an initial public offering on the east African nation's newly launched bourse for small firms. The initiative supports a government drive to give Tanzanian citizens a share in the country's gas discoveries, which have made Tanzania hot property for energy firms while also raising calls from the population for a stake in the new-found riches. For now, Tanzania only produces small quantities of gas for domestic use but major players such as BG Group, Statoil and Exxon Mobil plan to build a liquefied natural gas (LNG) plant for exports, although that is years away. The offer, which runs from June 9 until July 4, is for 9,600,000 shares at 500 shillings each, said a statement from Oil and Gas (Tanzania), which is 50 percent owned by Swala.

Gas prices fall a bit in New Hampshire

Mon, 06/09/2014 - 08:48
Gas prices in New Hampshire have fallen 1.5 cents in the past week. The average price of a gallon of gas Monday was $3.58 a gallon, according to gasbuddycom. That's 5 cents lower than the national average, ...

AAA Mich.: Gas prices rise 3 cents over past week

Mon, 06/09/2014 - 08:45
AAA Michigan says gasoline prices have risen about 3 cents during the past week to a statewide average of about $3.94 per gallon. The auto club says Monday that prices have risen for the third week in ...

Ohio gas prices dip to start work week

Mon, 06/09/2014 - 08:44
Prices at the pump are down in Ohio since last week, but the state's prices are still way above the national average. The cost for a gallon of regular gas in Ohio was averaging $3.81 in Monday's survey ...

US gas prices holding steady at $3.69 a gallon

Sun, 06/08/2014 - 16:56
A survey says the average price of a gallon of regular gasoline in the U.S. is holding steady, rising 3½ cents over the last three weeks to $3.69. Industry analyst Trilby Lundberg said Sunday that crude ...

EPA agrees to pesticide buffers to protect salmon

Fri, 06/06/2014 - 17:59
GRANTS PASS, Ore. (AP) — A federal agency has agreed to restore temporary buffer zones for spraying several common agricultural pesticides along salmon streams in Oregon, California and Washington while it continues work on a permanent rule.

Obama's clean-energy push, new EPA rule will prevail, predicts Podesta

Fri, 06/06/2014 - 12:57
US lawmakers of all political stripes are challenging new limits on carbon emissions from US power plants unveiled earlier this week, but the White House isn’t backing down from what is likely the boldest action any American president has taken to combat climate change. “We’re committed to getting this done,” John Podesta, counselor to President Obama, said Friday at a Monitor-hosted breakfast in Washington. By 2030, the regulations aim to slash carbon emissions 30 percent from 2005 levels in the power sector – the country’s biggest carbon emitter. After a year-long comment period, the EPA plans to make the new limits final next June.

Canada's surprise light oil boom delights oil sands producers seeking diluent

Fri, 06/06/2014 - 07:51

By Nia Williams CALGARY Alberta (Reuters) - Canada is enjoying an unexpected boom in production of ultra-light crude known as condensate, defying long-held predictions of dwindling supply. This surprising bounty from one corner of Alberta, better known as the home to Canada's vast tar-like oil sands reserves, is a boon for firms like Vermilion Energy Inc and Chevron who have built up positions in the Duvernay, now hotly tipped as one of North America's most exciting shale plays with vast reserves waiting to be tapped. It also is fuelling hope of cost relief for traditional heavy oil sands companies such as Cenovus Energy Inc, who in the past have paid premiums of up to $25 a barrel to buy imported condensate used to dilute their viscous oil sands production so that it can flow through pipelines. A year ago, the Canadian Association of Petroleum Producers expected condensate production to shrink from 139,000 barrels per day to barely 100,000 bpd by 2025, according to its annual forecast.

Despite political uproar, Kentucky could meet EPA emissions goal

Wed, 06/04/2014 - 16:27
By Valerie Volcovici WASHINGTON (Reuters) - Kentucky may be well positioned to meet a carbon emission target for power plants set by federal regulators, even as U.S. Senate candidates there blast the plan, saying it will cripple the state's coal industry. The Environmental Protection Agency seems to have listened to feedback from state officials before the rollout on Monday, said John Lyons, Kentucky's assistant secretary for climate policy. The result: the Bluegrass State may be able to meet EPA targets between now and 2030. Shedding the carbon intensity of its fleet by 400 pounds of CO2/MWh will rely on retiring coal plants and shifting to natural gas, measures already planned to meet separate EPA rules on slashing mercury emissions.

EPA official: Carbon rules built on methods in use

Wed, 06/04/2014 - 16:10
A top official from the Environmental Protection Agency told utility regulators from 14 states Wednesday that its new plan to target global warming by cutting power plants' carbon dioxide emissions is ...

Solar Tariffs Aid U.S. Firms, But Not the Environment

Wed, 06/04/2014 - 12:15
Under fire for its proposal to force energy producers to cut their carbon emissions by 30 percent by 2030, the Obama administration made a less-noticed decision on Tuesday that favored business interests over environmental protection. The administration announced that it would impose expensive tariffs on some solar panels being imported from China, a move that will add between 18 and 35 percent to the panels’ cost. The move comes amid evidence that the use of solar energy in surging in the U.S. A detailed report from the investment bank Barclays demonstrated that a combination of better battery technology and cheaper solar panels was making carbon-free electrical power cost-effective for consumers.

TransCanada plans C$1.9 billion pipeline to serve Canadian LNG plant

Wed, 06/04/2014 - 08:32
(Reuters) - TransCanada Corp said on Wednesday it has agreed to build a C$1.9 billion ($1.74 billion) natural gas pipeline to supply a liquefied natural gas project on British Columbia's Northern Pacific coast planned by Chevron Corp and Apache Corp TransCanada, the country's No. 2 pipeline company, said the planned Merrick pipeline project will take 1.9 billion cubic feet of gas per day from Dawson Creek, British Columbia, to Summit Lake, B.C., a distance of 260 kilometers (161 miles). There, it will meet the Pacific Trail Pipeline planned by the two partners backing the LNG project. The proposed line is the fourth in the works by TransCanada to supply northern British Columbia's nascent natural gas industry, which plans to liquefy the abundant shale-gas reserves in the province's north for export to high-paying markets in Asia and elsewhere.

Gas prices remain unchanged in West Virginia

Wed, 06/04/2014 - 07:58
Gasoline prices remained unchanged in West Virginia this week. AAA East Central says the average price for a gallon of regular stayed at $3.80. Average gas prices in West Virginia have risen 41 cents so ...