WASHINGTON (AP) — Federal regulators concluded Thursday that Dominion Energy's proposal to export liquefied natural gas from its Cove Point terminal on the Chesapeake Bay in Maryland would pose "no significant impact" on the environment — a positive step for the company.
The environmental assessment by the Federal Energy Regulatory Commission staff is a recommendation to the commission, which will decide whether the $3.8 billion project can go forward. Other permits are also required.
"The adverse cumulative impacts that could occur in conjunction with the project would be temporary and minor," the FERC staff said.
RICHMOND, Va. (AP) — Dominion Resources Inc. said Wednesday that its first-quarter profit fell more than 23 percent on costs related to the repositioning of its producer-services business despite higher electricity sales.
The Richmond, Va., energy provider posted earnings of $379 million, or 65 cents per share, for the period ended March 31. That's down from $495 million, or 86 cents per share, a year ago.
Market analysts suggest Dominion Resources' decision last week to withdraw from the retail electricity business may signal a trend where larger companies yield to financial pressures and exit competitive electricity markets, E&E reports.
Dominion Resources Inc. told the Nuclear Regulatory Commission last week that it had removed all nuclear fuel from the reactor at the shuttered Kewaunee Nuclear Plant, the Green Bay Press-Gazette reports.
The Sierra Club and other environmental groups filed comments against the Dominion Cove liquefied natural gas export terminal and called for a FERC environmental impact statement on the plan, StateImpact Pennsylvania reports.
Sluggish demand, higher North American production, an increase in gasoline inventories and a stronger dollar are pushing oil prices down, so far more than 4 percent lower on the week. U.S. benchmark crude for September delivery dropped 64 cents to $97.53 in electronic trading on the Nymex, while Brent crude was 18 cents lower in London, to $105.84, Bloomberg reports.
The U.S. response to improving its nuclear power industry in the wake of the disaster at Fukushima Dai-ichi three years ago has so far cost around $3 billion, with the most important objective to guarantee that reactors and spent fuel would stay cool even in extreme conditions, an official told the Nuclear Regulatory Commission Thursday, Platts reports.
The Environmental Protection Agency’s water office will have no official leader, now that acting Assistant Administrator Nancy Stoner is departing and nominee Ken Kopocis, who has been awaiting confirmation for more than 1,100 days, is still facing hostility from Republican senators opposed to the EPA’s rule known as Waters of the United States, or WOTUS, E&E reports.
Exelon Corp. will buy Integrys Energy Services from its parent Integrys Energy Group for $60 million, adding the unit – which has 1.2 million customers in 22 states and Washington, D.C. – to its Baltimore-based business arm Constellation, the Green Bay Press-Gazette reports.
In the wake of propane shortages caused by last winter’s bitter cold, Midwestern lawmakers from both sides of the aisle – Sen. Al Franken, D-Minn., Sen. Tammy Baldwin, D-Wisc., and Sen. Rob Portman, R-Ohio – have joined forces to introduce a bill intending to better information on propane supply and pricing, improve coordination in response to shortages and help farmers get tanks for the fuel, The Hill reports.
Continuing on with its focus on increasing its returns, Occidental Petroleum reported a gain in net income that also beat analysts’ expectations, to $1.43 billion, or $1.82 a share in the second quarter, FuelFix reports.
Lower natural gas prices and higher operating costs hurt the bottom line for Southwestern Energy in the second quarter, as the oil and gas company said its second quarter profit dropped 16 percent, falling to $207 million, or 59 cents a share, despite increased production in the Fayetteville and Marcellus Shale plays, The Wall Street Journal reports.
The system at Goldman Sachs N.Y. headquarters, where ice is frozen in tanks at night and used the next day in its air conditioning, is an example of how thermal storage can save money and use energy more efficiently, Bloomberg reports.
The Kurdistan Regional Government is loading a fifth shipment of oil at the Turkish port of Ceyhan, having sent it there through an independent pipeline, despite Iraq appearing to have successfully blocked the unloading of another tanker's cargo of Kurdish crude in Galveston through moves in the Texas courts, The Wall Street Journal reports.