Energy Update
LOS ANGELES, May 19 (Reuters) - Numerous lapses in safety
measures, judgment and planning by Plains All American Pipeline
LP led to and worsened a major oil spill last year that fouled
miles of shoreline and ocean near Santa Barbara, California, the
U.S. Transportation Department said on Thursday.
HOUSTON, May 19 (Reuters) - U.S. shale oil producer Pioneer
Natural Resources Co said on Thursday that Chief
Executive Officer Scott Sheffield will retire at the end of the
year and be replaced by Tim Dove, the company's chief operating
officer.
MELBOURNE, May 20 (Reuters) - Major miners are trying to
avoid hundreds of millions of dollars in closure costs by
selling off pits, as cash is tight due to a prolonged
commodities price slump, but the crippling cost of environmental
rehabilitation makes it tough to seal deals.
LOS ANGELES, May 19 (Reuters) - Numerous lapses in safety
measures, judgment and planning by Plains All American Pipeline
LP led to and worsened a major oil spill last year that fouled
miles of shoreline and ocean near Santa Barbara, California, the
U.S. Transportation Department said on Thursday.
HOUSTON, May 19 (Reuters) - U.S. shale oil producer Pioneer
Natural Resources Co said on Thursday its Chief
Executive Officer Scott Sheffield will retire at the end of the
year and be replaced by Tim Dove, the company's chief operating
officer.
NEW YORK/YENAGOA, Nigeria, May 19 (Reuters) - Nigeria's oil
production showed further signs of strain on Thursday as
intruders blocked access to Exxon Mobil's terminal
exporting Qua Iboe, the country's largest crude stream.
Companhia Energetica de Minas Gerais (Cemig) of Brazil recently released its first quarter earnings and revealed it has already spent almost half of its forecast investment total for 2016, spending BRL2.15 billion (US$610 million) from January to March, according to BNamericas.
The Obama administration tried to strike a cautious compromise Wednesday in setting quotas for a controversial renewable fuels program that pits Big Oil against Corn Belt interests. The Environmental Protection Agency (EPA) proposed compelling refiners to blend 18.8 billion gallons of biofuel into the U.S. gasoline and diesel supply next year.
* Prospect of U.S. Fed rate hike puts pressure on
commodities
PARIS, May 19 (Reuters) - The French government will remain
a long-term shareholder in the merged Technip-FMC group and sees
as important that it keeps a strong French presence, a source at
the economy ministry said on Thursday.
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