Dominion Energy – Oil & Gas 360

Dominion Energy posts fall in second-quarter profit on higher expenses

August 1, 2024

U.S. News Dominion Energy posted a fall in second-quarter profit on Thursday, as higher interest and maintenance costs weighed on the electric utility. Higher-for-longer interest rates continue to weigh on the utilities sector, making dividend-paying stocks such as REITs and utilities less attractive and driving up borrowing costs. The company’s interest expenses rose to $469 million in the second quarter,

Berkshire Hathaway Energy to purchase Dominion Energy LNG stake for over $3 billion

July 11, 2023

World Oil (WO) – Dominion Energy has concluded a robust and competitive sale process and executed a definitive agreement to sell its 50% noncontrolling limited partner interest in Cove Point LNG, LP, to Berkshire Hathaway Energy, which currently operates the facility and owns a 100% general partner and 25% limited partner interest. The total transaction value of $3.5 billion, inclusive

Dominion Energy, Warren Buffett’s Berkshire Hathway Energy terminate Questar Pipeline sale

July 12, 2021

Fox Business Dominion Energy and Warren Buffett’s Berkshire Hathaway Energy have agreed to terminate a planned sale of Questar Pipelines. Dominion cited “ongoing uncertainty associated with achieving clearance from the Federal Trade Commission under the Hart-Scott-Rodino Antitrust Improvements Act of 1976” as the reason for the termination. Representatives for the FTC and Berkshire Hathaway Energy declined to comment further. Dominion said Monday’s announcement has no impact on

Dominion Energy advances hydrogen as next frontier of clean energy

April 19, 2021

Dominion Energy advances hydrogen as next frontier of clean energy – New clean …

General Electric accuses Siemens Energy of rigging dids using stolen trade secrets

January 15, 2021

Oil and Gas 360 NEW YORK (Reuters) – General Electric Co accused a Siemens Energy AG subsidiary of using stolen trade secrets to rig bids for lucrative contracts supplying gas turbines to public utilities, and cover up improper business gains totaling more than $1 billion, according to a lawsuit filed on Thursday. GE sued the rival company, Siemens Energy Inc,

Why Warren Buffett is betting on energy pipelines even as climate fears, and renewables, are rising

August 19, 2020

CNBC With the coronavirus pandemic slashing demand for the oil and gas that has been booming in the U.S. shale during the past decade, energy pipeline development has stalled. The midstream portion of the energy complex, as it is known, may not recover soon, but it will recover, according to energy experts, and none other than Warren Buffett — who has been

Dominion takes $2.8 billion charge to exit Atlantic Coast natgas pipe

July 31, 2020

Reuters U.S. energy company Dominion Energy Inc (D.N) said Friday it took a $2.8 billion charge in the second quarter related to the cancellation of the Atlantic Coast natural gas pipeline from West Virginia to North Carolina. Atlantic Coast was the most expensive U.S. gas pipeline under construction when Dominion and partner Duke Energy Corp (DUK.N) exited the $8 billion

U.S. Supreme Court rules for pipeline in Appalachian Trail dispute

June 15, 2020

Reuters WASHINGTON – Ruling against environmentalists, the U.S. Supreme Court on Monday decided that the federal government has the authority to allow a proposed $7.5 billion natural gas pipeline to cross under the popular Appalachian Trail in rural Virginia. The 7-2 ruling was a victory for Dominion Energy Inc and President Donald Trump’s administration, both of which appealed a lower

Offshore wind project near Virginia Beach to use giant turbines with 108-meter blades

May 27, 2020

CNBC A vast offshore wind project planned for waters off the coast of Virginia Beach looks set to use Siemens Gamesa Renewable Energy’s latest wind turbines, it was announced Tuesday. The European company said that the 2.64 gigawatt (GW) Dominion Energy Coastal Virginia Offshore Wind commercial project will utilize its SG 14-222 DD turbine. Dominion Energy has previously described the scheme as the

3 Utilities to buy while others are fearful

April 5, 2020

360 Feedwire Wall Street fell into a bear market in just a few weeks and then bounced back in just a few days, jumping by more than 20% in record time. And now stock prices are falling again. To suggest that this is an uncertain time for stocks would be an understatement. We all know that COVID-19 is the primary

Huge offshore wind project near Virginia selects turbine supplier

January 8, 2020

CNBC Siemens Gamesa Renewable Energy (SGRE) has been chosen as the preferred turbine supplier for the 2.64 gigawatt (GW) Dominion Energy Virginia Offshore Wind project. The site of the project is 27 miles off the coast of Virginia and covers an area of 112,800 acres. In an announcement Tuesday, Dominion Energy described the scheme as the “largest offshore wind power

Dominion Energy Schedules Fourth-Quarter Earnings Conference Call - oilandgas360

Dominion Energy and Smithfield Foods invest $500 million in Renewable Natural Gas

October 23, 2019

Dominion Energy and Smithfield Foods invest half billion dollars in Align Renewable Natural Gas(SM) (RNG) joint venture to become largest renewable natural gas supplier in U.S. Dominion Energy (NYSE:D) and Smithfield Foods, Inc. announced today the companies are doubling their investment in renewable natural gas (RNG) projects across the U.S. to $500 million through 2028. This additional investment will expand their Align

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