The newest measure of the oil industry’s falling fortunes came on Tuesday in the form of a $3.3 billion fourth-quarter loss reported by BP. [The NY Times] Germany has overtaken the UK in the rate at which it is installing wind turbines at sea, industry figures show. [The Guardian] NV Energy is proposing “grandfathering” existing… Keep reading →
Morgan Creek Capital Management chief Mark Yusko said Monday he’s on the same page with Carl Icahn when the billionaire investor says there’s danger ahead in credit markets due to falling oil prices. [CNBC] The industrial giant General Electric is saying farewell to the compact fluorescent light, or CFL prompting a full transition to LED… Keep reading →
Wall Street sold off on Monday, pulled lower by further weakness in oil prices as energy shares led declines, with major indexes retreating after last week’s strong gains. [Reuters] San Diego is the largest city in the country to commit to using only renewable energy over the next 20 years and now faces the decision… Keep reading →
Chesapeake Energy Corp surged 8% in premarket trade Friday, after the company said it is suspending its quarterly preferred stock dividends in an effort to save cash. [MarketWatch] U.S. stocks are rising Friday as energy prices continue to climb and give a boost to energy companies. [ABC] Last year shattered 2014’s record to become the… Keep reading →
Energy firm E.On has announced a 5.1% reduction in its standard gas price for residential customers. [BBC News] In an AP interview, Iran’s foreign minister is decrying what he calls the United States’ “addiction to coercion” with its new sanctions against Iran over ballistic missile tests. [ABC/AP] The oil price slump below $30 barrel is… Keep reading →
The world could find itself drowning in oil this year and prices could fall further as new Iranian output cancels out production cuts elsewhere, according to the International Energy Agency. [The Guardian] Today Member States agreed on a Commission proposal to invest €217 million in key trans-European energy infrastructure projects, mainly in Central and South… Keep reading →
Oil prices tumbled below $30 a barrel on Friday, with daily losses rivaling their biggest of the winter as flailing Chinese markets and the soon-coming increase of Iranian exports adds to concerns that the global glut will linger. [WSJ] The ongoing methane leak from an underground reservoir run by SoCalGas has spurred a new search… Keep reading →
In a new analysis, Bloomberg New Energy Finance finds that 2015 was a record year for global investment in the clean energy space, with $ 329 billion invested in wind, solar panels and biomass plants. [The Washington Post] The level of negativity around oil stocks has become extreme and it’s time to play for an… Keep reading →
2015 was a rough year for the oil and gas industry.
Barack Obama promised an overhaul of coal mining on public lands during his final Sate of the Union address, delivering a major blow to the ailing industry. [The Guardian] The solar industry added 35,000 jobs in 2015, up 20% from the previous year, according to the Solar Foundation, a nonprofit in Washington D.C. [CNN Money]… Keep reading →
