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Energy

Top 5 stories of the week July 23 – 30

Marcellus Top 5

It’s warm. It’s humid. The northern plains and the Midwest have had their fair share of storms the past couple of weeks. But it hasn’t stopped the energy news from rolling in. While it’s been fairly quite on the home front, politicians and policy makers have made headlines. With Donald Trump and Hillary Clinton wrestling to see who comes out ...

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US regulators: Still heavy risk in big bank loans

WASHINGTON (AP) — Federal regulators say risk remains heavy in large loans made by banks and other financial institutions, though lending standards have improved. The Federal Reserve and other agencies cite increasing risks in loans to oil and gas producers as oil prices have fallen. The steep decline in oil prices has hurt many energy companies. The amount of large ...

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Exxon reports smallest profit since 1999

Exxon's 2Q profit plunges 63 percent on lower oil prices

DALLAS (AP) — Lower oil prices continue to punish Exxon Mobil Corp., which reported its weakest quarterly profit in nearly 17 years. Exxon still earned $1.7 billion in the second quarter. It was, however, down 59 percent from a year ago, and per share income missed Wall Street expectations. The energy giant cited lower prices for oil and gas and ...

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Vermilion sues oil and gas companies over coastal damage

NEW ORLEANS (AP) — Vermilion Parish is suing dozens of oil and natural gas companies over damage the parish’s district attorney says drilling caused to the coast. District Attorney Keith Stutes filed the lawsuit Thursday in state court. Vermilion is the fourth parish to file suit against oil and gas companies over such damage claims. The suits accuse oil and ...

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Energy company BP says 2Q earnings fell 45 percent

BP Q2 earnings

LONDON (AP) — BP’s second-quarter earnings fell 45 percent as lower oil prices hit the British energy company. Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, fell to $720 million from $1.3 billion in the same quarter a year earlier, the company said in a statement released Tuesday. BP’s net loss narrowed to ...

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AP Newsbreak: US oil, gas applications could drop 40 percent

BILLINGS, Mont. (AP) — U.S. officials say applications to drill for oil and gas on federal and Indian lands are expected to decrease 40 percent in coming years versus their historical average. The projection comes as cheap prices have curtailed domestic energy exploration, driving down state and federal revenue. The U.S. Bureau of Land Management on Thursday will announce a ...

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Standing Rock Sioux sues Corps over oil pipeline permits

Dakota Access pipeline

BISMARCK, N.D. (AP) — The Standing Rock Sioux Tribe is suing federal regulators for approving permits for a $3.8 billion pipeline that will move oil from North Dakota to Illinois. Tribal officials filed the lawsuit Wednesday against the U.S. Army Corps of Engineers. The Corps issued permits for the project on Tuesday. The Standing Rock tribe opposes the Dakota Access ...

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France’s Total profit falls 30 percent due to oil price drop

In this Feb.5, 2013 file photo, the logo of the French oil giant Total SA is seen at the entrance of the company headquarters in the La Defense business district, west of Paris. The French company said Thursday Feb.11, 2016 that profit adjusted for changes in the value of inventories and one-time items dropped to $2.1 billion from $2.8 billion in the same period a year earlier.(AP Photo/Jacques Brinon, File)

PARIS (AP) — French energy company Total SA says its net income fell 30 percent in the second quarter to $2.09 billion due to the impact of lower oil prices. The Paris-based company said its sales for the April-June period were $37.22 billion, down from $44.72 billion in the year-earlier period. Chairman and CEO Patrick Pouyanne said the company will ...

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Cooking oil, graphene among CO2 capture prize entry ideas

coal-fired power, carbon capture

CHEYENNE, Wyo. (AP) — Cooking oil and graphene, a recently discovered substance stronger than steel, might seem to have little in common, but some theorize both could be made from carbon dioxide emitted by coal- and gas-fired power plants. Teams from Canada, China, Finland, India, Scotland, Switzerland and the U.S. have submitted 47 proposals for the first round of a ...

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Wind, nuclear advance as NY moves ahead with energy plan

nuclear energy

ALBANY, N.Y. (AP) — New York state committed last year to generating half of its energy from renewable sources like wind and solar by the year 2030. Now comes the hard part: figuring out how to do it. Several big decisions in the next few weeks could fill in some of the details about how the state will meet Gov. ...

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