News Desk

General Electric Co shook up its ailing power business again, naming a CEO for its new gas-power division and bringing a veteran GE executive back from retirement to help.The changes mark another step in new GE chief executive officer Larry Culp’s urgent effort to reduce heavy debt and restore...






The US Environmental Protection Agency will propose new targets for the final three years of the nation’s renewable fuel programme in January, replacing ambitious decade-old goals set by Congress with volumes closer to the industry’s current output, two people familiar with the matter said.The...






Oil and gas producer Cimarex Energy Co agreed to buy smaller rival Resolute Energy Corp for $1.6 billion including debt, adding more assets in the shale-rich Permian Basin for a premium of roughly 15 per cent.However, Resolute’s largest shareholder - Kimmeridge Energy Management Co - said it was...






Canada’s federal government is considering a proposal from its main oil producing province of Alberta to share the cost of buying rail cars to move oil stuck in the region because of a lack of pipeline capacity, said two sources with direct knowledge of the matter.The lack of pipelines has caused...






A weak connector on an underwater oil flowline caused a spill during a fierce Atlantic storm last week off the coast of Canada’s Newfoundland & Labrador, Husky Energy said.The spill is the largest-ever off the coast of the Canadian province, the regulator Canada-Newfoundland & Labrador...






The US Environmental Protection Agency granted oil major Chevron Corp a 2017 hardship waiver from US biofuel laws for its Utah refinery earlier this year, according to a source familiar with the company’s operations.Chevron, which reported a net income of $9.2 billion in 2017, becomes the largest...






Singapore authorities are investigating Noble Group Ltd for suspected false and misleading statements, just days before the Singapore-listed company was to complete its $3.5 billion debt restructuring deal to prevent its collapse.Noble, once Asia’s top commodity trader, has seen its market value all...






US energy firms this week cut oil rigs for the first time in the three weeks as crude prices have fallen to their lowest in over a year.Drillers cut three oil rigs in the week to November 21, bringing the total count down to 885, General Electric Co’s Baker Hughes energy services firm said in its...






Tags