Energy Update
The U.S. Department of Energy released the long-awaited Hydropower Vision report -- alongside $9.8 million in funding for hydroelectric power -- earlier today at HydroVision International 2016 in Minneapolis.
ExxonMobil has awarded a contract to Bechtel to increase production of ultra-low sulfur fuels at its refinery in Beaumont, Texas to further boost its integrated downstream portfolio.
Claxton, an Acteon company, has been awarded a contract with Statoil to provide ‘rigless recovery’ of seven abandoned wells on the Huldra platform, located in the Norwegian Continental Shelf.
NEW YORK, July 26 (Reuters) - Daniel Loeb's $16 billion
Third Point LLC said on Tuesday that the firm's investments in
energy credits drove positive returns during the first half of
the year and is devoting over $1 billion to energy corporate
credits.
SYDNEY, July 26 (Reuters) - Australian farmers are holding
on to their wheat stocks and refraining from locking in deals
for future sales, on hopes a La Nina weather event later this
year will dent global output and lift prices from current
10-year lows.
SAO PAULO, July 26 (Reuters) - Energisa SA will likely price
an offering of new stock near the upper end of a suggested range
on Tuesday, said three people involved in the deal, signalling a
stronger industry outlook may bolster plans by Brazil's No. 6
power distributor to cut debt.
WASHINGTON, July 26 (Reuters) - The top state prosecutors in
New York and Massachusetts said on Tuesday they will refuse to
comply with a subpoena from U.S. congressmen for details on
their investigations into whether Exxon Mobil misled investors
on climate change risks.
July 26 (Reuters) - Oil and gas producer Anadarko Petroleum
Corp reported a smaller-than-expected quarterly loss as
it cut costs to counter a prolonged slump in crude prices.
NEW YORK, July 26 (Reuters) - Valero Energy Corp,
the largest U.S. refiner, expects to get hit with a
half-billion-dollar bill in the second half of the year thanks
to the rising cost of meeting government mandates to blend
biofuels.
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