Energy Update
Global geothermal firm Ormat Technologies is expanding its business into the energy storage and demand response sectors through the acquisition of Philadelphia-based storage solutions provider Veridity Energy for $35 million.
TORONTO, Jan 3 (Reuters) - Canada's main stock index vaulted
more than 1 percent on Tuesday, hitting its highest level in
more than 20 months on the first trading day of 2017, as a jump
in oil prices helped energy stocks lead a broad-based gain.
Jan 3 (Reuters) - Marathon Petroleum Corp announced
a series of steps to increase its stock price, including the
possible separation of its Speedway retail business, amid
pressure from hedge fund Elliott Management.
SAO PAULO, Jan 3 (Reuters) - Brazil's state-controlled oil
company Petroleo Brasileiro SA and Repsol Sinopec, a
joint Spanish-Chinese venture in the country, are handing back
exploration rights at the Piracucá field in the Santos basin due
to lack of commercial viability, the companies said.
Fossil fuels burn inefficiently. They are non-renewable energy sources, which means we only have a finite amount to work with on the planet. They produce pollutants and toxins that harm our environment. Yet, despite these major disadvantages, they continue to be used throughout the U.S. (and around the world).
Jan 3 (Reuters) - Refiner Delek U.S. Holdings Inc
said it had agreed to buy the shares of Alon USA Energy Inc
it does not already own in a deal that values Alon USA
at about $868 million.
Jan 3 (Reuters) - Marathon Petroleum Corp, under
pressure from activist investor Elliott Management, said a
special committee of its directors would review its retail
business, including considering a tax-free separation.
MUMBAI, Jan 3 (Reuters) - Bharti Airtel Ltd,
India's top wireless carrier, said on Tuesday it would offer
free data to woo new and existing 4G customers, intensifying a
price war in the sector and sending share prices tumbling.
WASHINGTON, Jan 3 (Reuters) - Big Oil could be in a unique
position to protect its interests against a Republican proposal
to tax imports, given that President-elect Donald Trump's
cabinet is studded with oil champions sensitive to the risk of
higher gasoline prices.
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