Archives for July 2016
Rig count continues slow climb
The energy sector added seven more rigs in all, including one searching for natural gas, to bring the total count up to 447 rigs, up from a bottom of 404 rigs in May, according to...
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Report: Buffett, Edison, others jump into Oncor bidding effort
Buffett’s Berkshire Hathaway, California-based Edison and Fidelity Investments have joined Florida-based NextEra Energy in pursuing bids to purchase Oncor, which is owned by the bankrupt parent company, Dallas-based Energy Future Holdings. Source: FuelFix
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Faltering oil recovery prompts warnings of return to $40
As oil’s upward climb runs out of momentum, more and more analysts expect the market’s next move will be back down toward $40 a barrel. Brent crude prices almost doubled between January and June, signaling...
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Oil rises as Exxon halts exports from Nigeria
Oil rose as Exxon Mobil Corp. declared force majeure on shipments of Nigeria’s biggest crude export grade. Futures rose as much as 0.5 percent in New York, reversing an earlier decline of 1.4 percent. Force...
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BP estimates cost of 2010 Gulf oil spill at $61.6 billion
BP said the cost estimate included all “remaining material liabilities.” Source: FuelFix
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