The final cost of a natural gas-fired combined cycle unit installed at the Sutton Plant by Duke Energy Progress in North Carolina came in lower than expected, at $551 million or approximately $882 per kilowatt of installed capacity, Platts reports.
MONTERREY, Mexico (AP) — Authorities say a gas pipeline explosion and subsequent fire behind a plant run in northern Mexico by the state oil company known as Pemex has killed at least five people.
Jorge Camacho Rincon, civil defense director for the northern state of Nuevo Leon, says that emergency workers found the five bodies after the fire was controlled. The dead were not immediately identified.
HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 10 this week to 884, according to oilfield services company Baker Hughes Inc.
Houston-based Baker Hughes said Friday 670 rigs were seeking oil -- an increase of six compared to the previous week -- and 213 explored for natural gas. One was listed as miscellaneous. A year ago, 1,908 rigs were active.
NEW YORK (AP) — Billionaire investor Carl Icahn is taking an 8.2-percent stake in liquid natural gas company Cheniere Energy Inc., sending its shares higher in aftermarket trading.
Icahn disclosed ownership of 19.4 million shares of Cheniere, which owns a liquid natural gas terminal and pipeline in Louisiana. Icahn's funds say they want to start talks with the company about its business, financing of capital spending and executive compensation, and Icahn may seek representation on the board of directors.
RICHMOND, Va. (AP) — The U.S. Forest Service has raised hundreds of concerns about a proposed natural gas pipeline that would carve a 30-mile swath through national forests in Virginia and West Virginia.
The written comments to federal regulators question why the proposed route of the Atlantic Coast Pipeline has to go through the George Washington and Monongahela national forests and raises similar worries cited by residents along the path of the 550-mile energy project.
HOUSTON (AP) — Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by two this week to 874. But the total number of rigs drilling for oil is actually up.
Houston-based Baker Hughes said Friday 664 rigs were seeking oil—a rise of five since last week—and 209 explored for natural gas—down seven. One was listed as miscellaneous. A year ago, 1,889 rigs were active.
Royal Dutch Shell might look to get involved in gas projects in Iran once sanctions are lifted in the wake of the nuclear agreement Tehran reached with global powers, according to Chief Financial Officer Simon Henry, Platts reports.
FRANKFURT, Germany (AP) — Germany's Siemens AG says net profit fell slightly in the most recent quarter as better earnings from sales of medical equipment were offset by slower business at its power and gas division.
Profits for the April-June quarter were also hurt by 274 million euros ($301 million) in severance charges as the maker of gas turbines, trains and other heavy equipment streamlined to cut costs.
A report commissioned by the Pebble Partnership—conducted fully independently, according to its author, former Defense Secretary William Cohen—says the Environmental Protection Agency did not use the "fairest and most appropriate process" when it ruled against the proposed mining project in Alaska, The Hill reports.
OPEC’s Secretary-General told a London conference Tuesday that investments in oil projects will fall by $130 billion this year, which will mean less production in the future and a return to higher crude prices within two years, The Wall Street Journal reports.
A projection from OPEC’s Secretary General of substantial spending cuts by oil producers around the world sent prices soaring Tuesday. West Texas Intermediate crude for November delivery jumped $2.27, or 4.9 percent, to $48.53 a barrel on the Nymex, while in London, Brent zoomed $2.67, or 5.4 percent, higher to $51.92, Marketwatch reports.
IHS Energy says companies drilling for oil in North America will have much less protection against lower prices in the future: their moves to hedge production in 2016 cover only 11 percent of their production, FuelFix reports.
Arthur McDonald, who, alongside Takaaki Kajita, won the Nobel prize for physics Tuesday for his work with neutrinos, says the processes his team observed on the Sun “are very similar to the processes people are investigating on Earth to develop nuclear fusion reactors,” The Financial Times reports.
ValueAct Capital Management—an activist investor known for aggressively pushing management to boost shareholder value—said in a regulatory filing that it intends to bring a number of issues up with the management and board of oil field services company Baker Hughes, FuelFix reports.
A study by two economists for the Nevada Policy Research Institute found that NV Energy’s proposed new natural gas-fired plant would cost customers money and be a drag on the state’s economy, the Las Vegas Review-Journal reports.