Energy Update
April 26 (Reuters) - Standard & Poor's on Tuesday reduced
Exxon Mobil Corp's credit rating to AA+ from AAA, saying
low oil prices will make it difficult for the world's largest
publicly traded oil producer to keep funding high dividends and
share purchases for the next few years.
CALGARY, Alberta, April 26 (Reuters) - Husky Energy
said on Tuesday it was confident a dispute with China's CNOOC
Ltd over gas delivery payments from the South China
Sea will be resolved, but warned it would take legal action
against the state-owned energy giant if necessary.
April 26 (Reuters) - Freeport-McMoRan Inc expects to
have agreed $3 billion worth of asset sales by mid-year, its
chief executive said on Tuesday, as the U.S. miner and oil
producer tries to whittle down a nearly $21 billion debt pile he
described as "a killer."
NEW YORK, April 25 (Thomson Reuters Foundation) - The United
Nations will distribute food to more than a quarter of a million
people who survived Ecuador's devastating 7.8-magnitude
earthquake but are growing hungry in its aftermath, the
organization said on Monday.
Last fall, the California legislature passed SB 350, a bill that will increase the state’s renewable energy generation to 50 percent by 2030 utilizing resources like wind, solar, biomass, and geothermal energy. This goal will be a first. No large-scale economy like California has ever attempted to transition to a grid powered in majority by renewables. With such high-reaching plans and only a decade and a half to deliver, where does the state go from here?
WASHINGTON, April 26 (Reuters) - Orders for long-lasting
U.S. manufactured goods rebounded far less than expected in
March as demand for automobiles, computers and electrical goods
slumped, suggesting the downturn in the factory sector was far
from over.
* Tripoli-based NOC is internationally recognised as sole
exporter
ISTANBUL, April 26 (Reuters) - Six Turkish members of a
cargo ship's crew who were kidnapped by pirates off the coast of
Nigeria two weeks ago have been released and are safely back in
Istanbul, a lawyer for the shipping company said on Tuesday.
April 26 (Reuters) - Standard & Poor's Ratings Services said
on Tuesday it had cut Exxon Mobil Corp's corporate
credit rating to "AA+" from "AAA," citing the impact of low oil
prices.
The significance of China's ferrochrome price is often understated in the market, yet when some of the country's stainless steelmakers rolled over purchase prices for April, the world's markets paid attention.
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