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Nigeria 'talking to' oil rebels: Buhari

Yahoo! energy News - Thu, 07/21/2016 - 14:47

Nigeria's President Muhammadu Buhari on Thursday said the government was in talks with oil rebels whose attacks have hit production, as the head of the state-run energy firm laid bare damage to the sector. Buhari said in a statement that "his administration is talking to Niger delta militants through oil companies and law-enforcement agencies to find a lasting solution to insecurity in the region". The Niger Delta Avengers (NDA) group has claimed the bulk of the attacks since February, which have targeted the Nigerian National Petroleum Corporation (NNPC) as well as oil majors Shell, Chevron and Eni.

Big price tag seen for Musk's Tesla 'master plan', shares fall

Yahoo! energy News - Thu, 07/21/2016 - 14:43

Elon Musk's latest "master plan" for Tesla Motors Inc to develop an electric commercial truck, a public bus, a pickup and systems to enable fully autonomous driving could cost $2 billion to $3 billion or more, experts and analysts said Thursday. Musk did not lay out a budget for his latest strategy, revealed on Wednesday, to expand Tesla into a broader range of vehicle markets as well as ride services and solar energy systems. The Tesla chief executive also did not explain how the company planned to pay for the new products he envisioned.

Exxon Mobil to buy InterOil for $2.5 billion

Yahoo! energy News - Thu, 07/21/2016 - 12:55
DALLAS (AP) — Exxon Mobil Corp. emerged Thursday as the winning bidder for InterOil Corp., which has natural gas holdings in Papua New Guinea.

Could Gas Prices End This 'Dumb Money' Stock Rally?

Yahoo! energy News - Thu, 07/21/2016 - 08:40

The stock market's obsession with monetary morphine has fueled a new high. The Bank of England, at the epicenter of the Brexit fallout, held off on any new action and has found that the vote to leave the European Union hasn't hurt the economy.

China launches new alert system to tame wind power investments

Yahoo! energy News - Wed, 07/20/2016 - 23:50

By Kathy Chen BEIJING (Reuters) - China has launched a risk alerting system to prevent further investments in wind power generation in certain locations, after large amounts of power were wasted due to inadequate power transmission infrastructure. The National Energy Administration (NEA) has given a red alert, or the highest warning, to five provinces where new construction approvals and access to grid connections will be put on hold, according to an official statement published on Thursday. Among the restricted regions are Jilin and Heilongjiang in northeast China, along with Gansu, Ningxia and Xinjiang province in western China, all with high concentration of wind farms but only limited grid connectivity.

Musk 'master plan' expands Tesla into electric trucks and buses

Yahoo! energy News - Wed, 07/20/2016 - 20:10

Tesla Motors Inc Chief Executive Elon Musk Wednesday unveiled an ambitious plan to expand the company into electric semi trucks and buses, car sharing and solar energy systems. In a blog post titled "Master Plan, Part Deux," Musk sketched a vision of an integrated carbon-free energy enterprise offering a wider range of vehicles, and products and services beyond electric cars and batteries. Both Tesla and SolarCity are burning cash.

Is it worth it to convert to solar? ModSun will do the math for you

Yahoo! energy News - Wed, 07/20/2016 - 15:19

In addition to pairing homeowners with alternative energy contractors, Modernize now lets you calculate the exact costs and benefits associated with going solar with its ModSun solar calculator. The system launches this week.

Musk says he's ready to launch new Tesla 'master plan'

Yahoo! energy News - Wed, 07/20/2016 - 14:28

Musk told more than 4 million Twitter followers that a "post should go live on Tesla website" around 5:00 Pacific time. Earlier in the day, Musk had tweeted he was finishing work on a new plan for Tesla while listening to the soundtrack from the film version of the Great Gatsby. Musk has said in tweets and public statements that an element of his strategy will involve linking Tesla's electric vehicles to solar power products and services offered by SolarCity Corp , a solar energy company he is chairman of.

Low crude prices dim hopes for big revenue boost from new Ghana oilfield

Yahoo! energy News - Wed, 07/20/2016 - 07:01

By Matthew Mpoke Bigg ABOARD PROF JOHN EVANS ATTA MILLS, Ghana (Reuters) - In the depths of Ghana's fiscal crisis in 2014 policymakers looked forward to a time when a new oil field would open to boost the economy. The drop in the crude price to under $50 a barrel reduces the short-term boost to government revenue from the offshore Tweneboa-Enyenra-Ntomme (TEN) field at a moment of triumph for Tullow and its partners, who include Ghana National Petroleum Corporation (GNPC). "There is no way that, even with the new money from TEN, revenue in 2016 will hit what it was two years ago, unless something extraordinary happens with the oil price," said Benjamin Boakye of the Africa Centre for Energy Policy.

Company blames low energy prices for demise of power station

Yahoo! energy News - Fri, 07/15/2016 - 14:58
Officials with a North Dakota electric power cooperative said Friday that the group's Stanton power plant has become too costly to operate and will shut down within the next 12 months. Great River Energy ...

Trump's expected VP pick: coal advocate who defied Obama's climate agenda

Yahoo! energy News - Fri, 07/15/2016 - 09:13

By Valerie Volcovici and Grant Smith WASHINGTON/NEW YORK (Reuters) - Republican Donald Trump's selection of Indiana Governor Mike Pence as his running mate cheered the U.S. energy industry and dismayed green advocates, with both sides citing Pence's support for coal mining and defiance of President Barack Obama's climate-change agenda. Trump, the presumptive Republican presidential nominee, has called climate change a hoax and promised to gut U.S. environmental regulations in order to help the ailing oil and coal sectors. "Governor Pence has been a vocal opponent of the administration’s Clean Power Plan," said Laura Sheehan, spokeswoman for the Washington-based lobby group American Council on Clean Coal Electricity.

US consumer prices rose a modest 0.2 percent in June as tumbling food prices offset higher energy prices

Yahoo! energy News - Fri, 07/15/2016 - 06:30
US consumer prices rose a modest 0.2 percent in June as tumbling food prices offset higher energy prices.

New York wind farm part of larger offshore energy ambitions

Yahoo! energy News - Thu, 07/14/2016 - 13:10

UNIONDALE, N.Y. (AP) — A New York utility plans to approve a wind farm off eastern Long Island that it says would be the nation's largest offshore wind energy project built to date.

Woodside taps into big oil find off Senegal for growth

Yahoo! energy News - Thu, 07/14/2016 - 06:50
By Sonali Paul MELBOURNE (Reuters) - Australia's Woodside Petroleum is expanding its push into West Africa, agreeing to buy ConocoPhillips' deepwater stakes off Senegal, including one of the world's most promising recent oil finds, for up to $430 million. The move brings a deepwater expert into the SNE field off Senegal and removes uncertainty over its ownership, which may help speed up development of a billion barrel resource that is expected to start producing within the next five years. Australia's FAR Ltd owns 15 percent of the fields and Senegal's state-owned Petrosen holds 10 percent.

$32B House Interior, EPA spending bill faces veto threat

Yahoo! energy News - Wed, 07/13/2016 - 21:51

WASHINGTON (AP) — A divided House is about to pass a $32 billion spending bill for the Interior Department and environmental regulations as Congress prepares to exit Washington for a seven-week recess, but the move seems to do little to advance GOP leaders' hopes of fixing the Capitol's shattered budget process.

House panel subpoenas New York, Massachusetts attorneys general

Yahoo! energy News - Wed, 07/13/2016 - 15:19
By Valerie Volcovici WASHINGTON (Reuters) - A U.S. House of Representatives panel on Wednesday issued subpoenas to the attorneys general of New York and Massachusetts to force them to submit information on their investigations into whether Exxon Mobil misled investors on climate change risks, accusing the attorneys general of having a political agenda. The House Committee on Science, Space and Technology also subpoenaed eight environmental and legal groups. "The attorneys general have appointed themselves to decide what is valid and what is invalid regarding climate change," committee Chair Lamar Smith, a Republican of Texas, said.

Missouri regulators reject portion of multistate power line

Yahoo! energy News - Wed, 07/13/2016 - 14:52
Missouri regulators have again rejected the state's portion of a power line that would carry wind energy from Kansas to Indiana, citing the company's failure to provide the required 60-day notice before ...

Sin, Sex and Bathrooms: The GOP Crafts a Platform

Yahoo! energy News - Wed, 07/13/2016 - 12:06

The Republican Party platform that delegates to the national convention will be asked to adopt next week reads like the manifesto of a group of people who have realized they are fighting a desperate rear-guard action against societal changes that are destined to overtake them. While the party platform is a wide-ranging document that states general guiding principles for everything from education policy to the national defense, the two-day meeting of the platform committee on Monday and Tuesday was focused in large part on putting an aggressively conservative stamp on the party in the area of social policy, sexual morality, energy policy and the role of religion -- specifically, Christianity -- in public life.

NY attorney general rejects GOP lawmaker's request on Exxon

Yahoo! energy News - Wed, 07/13/2016 - 11:59
New York's attorney general is rejecting a congressional committee chairman's demand for records about his investigation into whether Exxon Mobil misled investors about global warming. Lamar Smith, a Texas ...

Solar energy firms get loans to light up rural Tanzania

Yahoo! energy News - Wed, 07/13/2016 - 11:28
By Kizito Makoye DAR ES SALAAM (Thomson Reuters Foundation) - When Tanzanian company ARTI Energy brought solar lights to Kiromo village in the eastern district of Bagamoyo eight years ago, local people were excited but found them expensive. The company realized the upfront investment needed to buy modern lighting devices was beyond the means of the average rural Tanzanian. Guided by the belief that lighting is a basic human need, the Dar es Salaam-based sustainable energy firm decided to sell the lights on credit.
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