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Updated: 1 year 25 weeks ago

Ohio gas prices continue to drop; now below national average

Mon, 07/04/2016 - 10:33
Motorists are finding Ohio's gas prices have continued to fall in time for the holiday. A gallon of regular gas in Ohio was averaging $2.20 in Monday's survey from auto club AAA, the Oil Price Information ...

PC download charts: 'Grand Theft Auto V,' 'Overwatch,' 'Nuclear Power Plant Simulator'

Mon, 07/04/2016 - 07:54

A seasonal sale on Steam propels "Grand Theft Auto V" back to the top of its charts, while "Overwatch" continues its reign on GameStop, and sees the slapstick "Nuclear Power Plant Simulator" break the top 5.

Egypt reduces arrears owed to foreign oil companies to $3.4 bln

Mon, 07/04/2016 - 02:18
CAIRO (Reuters) - Egypt has reduced the arrears it owes foreign oil companies to $3.4 billion in 2015/16 from $3.5 billion a year earlier, Petroleum Minister Tarek El Molla told Reuters on Monday. El Molla also said that Egypt received crude oil and natural gas from the foreign partners' share during 2015/16 worth $5.4 billion. Egypt paid them $5.5 billion. (Reporting by Ehab Farouk; writing by Asma Alsharif; editing by Louise Heavens)

In sign of progress, Libya's rival NOC oil companies agree to merge

Sun, 07/03/2016 - 06:09

Libya's state energy company National Oil Corporation has agreed to merge with a rival company established in the east by one of the country's two former competing governments, the NOC said in a statement. It is also a boost for the U.N.-backed unity government and its presidential council in Tripoli that has struggled to extend its influence over hardline factions and their armed supporters who set up rival administrations in the capital and in the east. The NOC said current chairman, Mustafa Sanalla, who was named executive before any rival administrations were in place, will remain in the top post while former eastern NOC head Nagi el-Maghrabi will join the unified NOC board.

Heads of South Africa's fuel fund resign after making Chevron bid

Sat, 07/02/2016 - 02:17

The heads of South Africa's state-owned Strategic Fuel Fund resigned on Friday, a day after the Department of Energy said it would investigate the fund's unauthorised bid to buy Chevron's assets in the country. The fund, which reports to the energy department, said on Wednesday it had applied to buy a 75 percent stake in Chevron's refinery and such downstream assets as retail service stations. The Central Energy Fund, which the strategic fund is part of, said it accepted the resignations of the fund's chairman and the acting chief executive.

Sasol mulling bid for Chevron's South African assets

Fri, 07/01/2016 - 07:45

Petrochemicals firm Sasol said on Friday it was considering buying a majority stake in Chevron's South African assets, including a 110,000 barrels-per-day oil refinery and retail stations. Chevron, which has had a presence in South Africa for more than a century, said in January it would sell its 75 percent stake in its business in the country after making similar sales in Nigeria due to weak oil prices. "Sasol is working with Chevron and its advisers in this regard," spokesman Alex Anderson said in an email to Reuters.

Exclusive: BP-Exxon impasse blocks renewal of giant Azeri oil deal - sources

Fri, 07/01/2016 - 04:48

By Dmitry Zhdannikov LONDON (Reuters) - U.S. oil major Exxon Mobil and Britain's BP are at loggerheads over a giant oil production deal with Azerbaijan, blocking renewal of what was once called "the contract of the century", three high-level industry sources told Reuters. BP, which operates the Azeri-Chigar-Guneshli (ACG) fields in the Caspian Sea and relies on them for a tenth of its global output, has tentatively agreed terms with the Azeri government on extending the 30-year contract, they said. The result is deadlock in talks over a project that may produce another $100 billion worth of oil at current prices, coming on top of old tensions between Exxon chief executive Rex Tillerson and his BP counterpart Bob Dudley, the sources said.

Chevron suspends Gorgon LNG production after gas leak

Fri, 07/01/2016 - 03:48

By James Regan SYDNEY (Reuters) - Chevron on Friday suspended production at Australia's Gorgon liquefied natural gas (LNG) export facility after a leak but remained on track to make a second shipment in coming days, it said. "Chevron Australia plans to undertake some minor repair work on the low pressure flare system at the acid gas removal unit before recommencing production in the coming week," it said in a statement. "Plans remain on track to load the second cargo of Gorgon LNG in the coming days." News of the leak was cited as a reason for a boost in Asian LNG prices to the highest level since February.

British offshore wind projects at risk after Brexit vote

Fri, 07/01/2016 - 03:46

By Karolin Schaps LONDON (Reuters) - The British offshore wind industry, already bruised by subsidy changes, faces uncertainty after Britain voted to leave the European Union, with investors worried about future government incentives, exchange rates and export duties. Portugal's Energias de Portugal-EDP said it could delay its Moray Firth offshore wind energy project in Scotland and German engineering giant Siemens said it was reconsidering plans for an expansion of its planned manufacturing plant in the port of Hull in north east England. Businesses in many industries have reported that the result of the June 23 referendum has created uncertainty for their sectors due to volatility in financial markets and the unclear outlook for Britain's access to European trading partners once an exit has been negotiated.

Strategic Fuel Fund's bid for Chevron South Africa assets faces probe

Thu, 06/30/2016 - 05:59

South Africa's state-owned Strategic Fuel Fund (SFF) will face an investigation by its shareholder for making a bid to buy Chevron's local assets without seeking clearance, a government official said on Thursday. SFF, which manages crude oil reserves in Africa's most industrialised country, said on Wednesday it had approached the oil major with an offer to buy its 75 percent stake in Chevron's 110,000 barrels per day refinery and other downstream assets. "An offer to purchase by an entity of the Department of Energy requires express consent from the Minister of Energy as the ultimate shareholder representative.

EDP says Brexit could delay go-ahead for Scottish wind energy project

Thu, 06/30/2016 - 05:35

Britain's decision to leave the European union could delay the Moray Firth offshore wind energy project in Scotland owned by the renewables unit of Portugal's Energias de Portugal-EDP, the company's chief executive said on Thursday. Antonio Mexia told reporters that Britain's Brexit vote last week has generated a lot of uncertainty that could complicate authorisation of the 1,116 MW, project to go ahead. The Moray project's planned generation capacity would be enough to meet the electricity needs of 700,000 households.

Strategic Fuel Fund's bid for Chevron assets not approved: S.Africa govt

Thu, 06/30/2016 - 05:10
JOHANNESBURG (Reuters) - South Africa's energy department said on Thursday the state-owned Strategic Fuel Fund's (SFF) had not been cleared to make an offer to buy 75 percent of Chevron's refinery and other downstream assets. "An offer to purchase by an entity of the Department of Energy requires express consent from the Minister of Energy as the ultimate Shareholder representative. This was neither sought nor obtained," Director-General at the energy department Thabane Zulu said in a statement. (Reporting by Tiisetso Motsoeneng; Editing by James Macharia)

Coal ash bedevils Oklahoma town, revealing weakness of EPA rule

Thu, 06/30/2016 - 03:00
Dust from a disposal pit permeates Bokoshe, Okla., and has residents fearing for their health.

U.S. Virgin Islands to withdraw subpoena in climate probe into Exxon

Wed, 06/29/2016 - 18:07

By Terry Wade HOUSTON (Reuters) - The U.S. Virgin Islands' attorney general on Wednesday agreed to withdraw a sweeping subpoena issued against Exxon Mobil Corp as part of a push by a coalition of state prosecutors to try to investigate whether the world's largest publicly traded oil company misled the public about climate change risks. "After conferring on the matter, the parties mutually agreed that Attorney General Walker will withdraw the subpoena and Exxon Mobil will stipulate to the dismissal without prejudice of this action," read a filing in U.S. district court signed by lawyers from both sides. U.S. Virgin Islands' Attorney General Claude Walker filed a subpoena in March seeking decades of documents related to Exxon's climate science and commentary.

Exxon Mobil wins a round in climate litigation

Wed, 06/29/2016 - 18:02
Exxon Mobil Corp. won an early round Wednesday in its fight against regulators over whether the oil giant covered up what it knew about climate change. The U.S. Virgin Islands attorney general agreed to ...

Nixon backs Missouri power line for wind energy

Wed, 06/29/2016 - 16:55
Gov. Jay Nixon said Wednesday he backs a proposed power line that would cut through Missouri for a multistate wind energy project, despite objections from landowners and concerns from state regulators. ...

South African state company to buy Chevron's stake in oil refinery

Wed, 06/29/2016 - 10:43

CAPE TOWN (Reuters) - South Africa's Strategic Fuel Fund has expressed interest in purchasing a 75 percent stake in Chevron's downstream assets, the government-owned firm said on Wednesday. (Reporting by Wendell Roelf; Editing by James Macharia)

Cheap gas prices in New Jersey could end soon

Wed, 06/29/2016 - 06:17

Pain at the pump may soon get real for motorists filling up in New Jersey.

Cheap gas prices in New Jersey may soon end

Wed, 06/29/2016 - 06:15

Pain at the pump may soon get real for motorists filling up in New Jersey.

Tax could increase New Jersey gas prices

Tue, 06/28/2016 - 21:23

Pain at the pump is about to get real for motorists filling up in New Jersey.