Halliburton revealed a 23% rise in first-quarter earnings and topped Wall Street expectations, as demand for oil-rich shale formations kicked higher in the US, lifting its rig count in the region. The Houston-based oilfield services company reported net income of $627 million, or 68 cents a share, compared with a year earlier $511 million, or 56 cents. Excluding one-time items, the company earned 89 cents, ahead of average analyst estimates of 85 cents in a Thomson Reuters poll. Revenue for the three months ended March 31 was up 30% to $6.8 billion, up from $5.3 billion a year ago, matching the Street’s view. However, the company’s operating margin fell to 14.9% from 15.4%.
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Traditional Korean lamps in the city of Daegu, Korea’s third largest.
In a business world obsessed with quarterly returns, the energy sector continues to think about the long term in years and decades, not weeks and months. Keep reading →
According to the US Energy Information Administration, 47% of all greenhouse gas emissions are from existing buildings. From a global perspective, reducing energy consumption in buildings is imperative for a sustainable future.
So when property owners and managers transform an existing facility into one that’s a high-performance building, what does that mean? Essentially, it means doing more with less. High-performance buildings are energy efficient, and therefore, easier and more affordable to operate and maintain. They provide healthier and more comfortable workspaces, making them more attractive to tenants and more desirable to own. Keep reading →
Tensions between China and other nations bordering the South China Sea are escalating, with the oil and gas resources that lie beneath those waters playing a central role. Keep reading →
Independent oil and gas firms are attempting to focus on the fundamentals following major allegations against one of the sector’s most colorful figures. The looming dispute over Chesapeake Energy’s chairman comes as companies already contend with a glut of natural gas production amid high prices for oil and liquids production warping traditional price dynamics.
US oil and gas company executives “talked turkey” with Wall Street analysts in New York last week at a high-level investor conference. Every spring, the industry’s exploration and production community convenes to discuss their business models and corporate strategies with the analysts who rate their company’s stock for investors. Keep reading →
Can Chesapeake Energy’s chief executive pull yet another rabbit out of his hat?
To plug what’s been estimated as a $9.2 billion gap between Chesapeake Energy’s Keep reading →
Canadian nuclear technology firm Candu and Turkish state power generator EUAS have signed an Memorandum of Understanding on building a $20 billion (US) nuclear power plant on the Black Sea. Present at the signing were the Chinese company CNI 23 which is expected to build the plant in partnership with Candu and representatives of Canadian nuclear regulator CCC, a Turkish representative for Candu confirmed for Breaking Energy.
The first step of the process is to conduct a feasibility study, and there is not yet an estimate for the size of the planned facility, the Turkish representative said. Keep reading →
Last September, Breaking Energy named five cleantech IPO‘s that were set to break the charts and change the game for renewable energy on the stock market. One of those five was Brightsource.
But despite the hype that had some industry insiders calling the BrightSource IPO the possible start to a cleantech gold rush, the thermal solar company cancelled its initial public offering last week due to what the company said were “adverse market conditions.” Keep reading →
For Rex Tillerson fracking is more than a revolutionary approach to drilling oil and gas — it’s part of his personal history. Simply mention the word to the CEO of Exxon Mobil and he starts reminiscing about his days as a young engineer. It was 1976, and Tillerson had been sent to East Texas for his second assignment at the company. His job was to follow around rigs drilling for natural gas and “complete” the wells. That meant experimenting with a process known as hydraulic fracturing, or fracking. By pumping water, sand, and chemicals down into a well at high pressure, he could cause cracks in the stone where the gas was trapped and allow more of it to flow.
A Michigan Court of Appeals on Thursday overturned a state Public Service Commission (PSC) decision to allow DTE Energy a $37 million rate increase to pay for smart meters.
According to a story in the Detroit Free Press, the court said DTE hadn’t provided enough evidence to justify the rate increase. “We will not rubber stamp a decision permitting such a substantial expenditure – a cost to be borne by the citizens of this state – that is not properly supported,” said the written opinion of the three-judge appeals court panel. Keep reading →
