Home / Energy (page 20)


China’s nuclear power ambitions sailing into troubled waters

China, nuclear energy

BEIJING (AP) — China’s ambitions to become a pioneer in nuclear energy are sailing into troubled waters. Two state-owned companies plan to develop floating nuclear reactors, a technology engineers have been considering since the 1970s for use by oil rigs or island communities. Beijing is racing Russia, which started developing its own in 2007, to get a unit into commercial ...

Read More »

Paradox nation: Norway, a climate leader making money on oil

Norway, offshore drilling

STAVANGER, Norway (AP) — Norway wants to get rid of gasoline-fueled cars, plans to become carbon neutral by 2030 and spends billions on helping poor countries reduce their carbon footprints. Meanwhile, it’s pushing ever farther into the Arctic Ocean in search of more oil and gas. “We know there is a paradox,” admits Vidar Helgesen, Norway’s climate and energy minister. ...

Read More »

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 2Q 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 »