Oil output down more than 7%; Coal down more than 15% The glut of oil brought on by OPEC’s decision to defend market share continues to put pressure on producers around the globe, particularly in China. China’s largest oil and gas producer, China National Petroleum Corp. (CNPC), reported 2015 profit was less than half of what it was in 2014
Unplanned outages continue to shore up the market quicker than expected – OPEC The OPEC Monthly Oil Market Report released Monday shows the group expects oil markets to balance out in the second half of this year. Unplanned supply outages in Nigeria and Canada will help to tighten up markets more quickly, the group said. In its report, OPEC maintained
Natural gas “is the single most important driver” in the $50 billion decline in the value of Norway’s oil and gas assets Low oil and gas prices have hit Norway hard, according to the country’s government. The value of Norway’s state-owned oil and gas fields dropped 34%, or $50 billion, after oil prices plummeted in late 2014. A report from
BISMARCK, ND–(Marketwired – June 13, 2016) – WBI Energy, Inc., the pipeline and midstream subsidiary of MDU Resources Group, Inc. (NYSE:MDU), today announced plans to build an approximately 38-mile pipeline with the primary purpose of delivering natural gas supply to eastern North Dakota and far western Minnesota. An open season seeking capacity commitments on WBI Energy’s Valley Expansion Project was
MEXICO CITY, MEXICO and CALGARY, ALBERTA–(Marketwired – June 13, 2016) – News Release — TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that its joint venture with IEnova, Infraestructura Marina del Golfo (IMG), has been chosen to build, own and operate the US$2.1 billion Sur de Texas-Tuxpan natural gas pipeline in Mexico. The project will be supported by a 25-year natural
From Competitive Enterprise Institute The House of Representatives on 10th June passed two resolutions opposing taxation of fossil fuel consumption. The vote on H. Con. Res. 89, which expresses the sense of Congress that a carbon tax (that is, a tax on carbon dioxide emissions from burning coal, oil, and natural gas) would be detrimental to the U. S. economy, was 237
REDMOND, Wash., and MOUNTAIN VIEW, Calif. — June 13, 2016 — Microsoft Corp. (Nasdaq: MSFT) and LinkedIn Corporation (NYSE: LNKD) on Monday announced they have entered into a definitive agreement under which Microsoft will acquire LinkedIn for $196 per share in an all-cash transaction valued at $26.2 billion, inclusive of LinkedIn’s net cash. LinkedIn will retain its distinct brand, culture
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