Home / Energy (page 20)

Energy

Massacres leave 16 dead in neighboring Mexican states

pemex pipeline theft, massacres

MEXICO CITY (AP) — Two massacres have left at least 16 people dead in the neighboring Mexican states of Michoacan and Guerrero. A statement from the Michoacan state prosecutors’ office said nine burned bodies were found inside an SUV in the municipality of Cuitzeo in an area with pipelines run by state oil company Petroleos Mexicanos. Prosecutors said there were ...

Read More »

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 ...

Read More »

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 ...

Read More »

Exxon reports smallest profit since 1999

Exxon's 1Q 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 ...

Read More »

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 ...

Read More »

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 ...

Read More »

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 ...

Read More »