Tag: Energy

Biden Stalls On Climate Rule That Would Save Americans Money
Politics

Biden Stalls On Climate Rule That Would Save Americans Money

The Biden administration is racing to finalize regulations to curb planet-heating emissions from lightbulbs, automobiles and trucks before a key deadline, after which any new rules could be undone by Donald Trump if he retakes the White House.With just over six months before the election, at least one major Biden proposal appears to be stalled: an update to the federal housing rules that agency experts estimate would save homeowners nearly three times more money on energy bills than it would add to construction costs, spread out over a 30-year mortgage.Changing those housing rules would impact about 160,000 new houses and condos built each year in some of the nation’s fastest-growing — and most expensive — housing markets. The Biden administration is now looking to the rules as a model fo...
Chevron Warns of Billions in Charges From California Challenges, Gulf of Mexico Assets
World

Chevron Warns of Billions in Charges From California Challenges, Gulf of Mexico Assets

Chevron said it will book $3.5 billion to $4 billion in charges for the fourth quarter, citing challenges tied to regulations in California and previously sold oil and gas production assets in the Gulf of Mexico.Chevron said it will impair a portion of its U.S. upstream assets, mostly in California, due to regulatory challenges in the state that have led to “lower anticipated future investment levels in its business plans.” Chevron said it will continue to operate the affected assets for many years.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
BHEL making India self-reliant in energy, infra: Heavy industries minister
Business

BHEL making India self-reliant in energy, infra: Heavy industries minister

The minister noted that the building, equipped with a 30-kW solar power system, reflects BHEL's commitment to move further towards green energy State-owned engineering firm BHEL is not only making India self-reliant in energy and infrastructure sectors but also contributing significantly to defence and space segments, said Union Heavy Industries Minister Mahendra Nath Pandey. The minister inaugurated the newly-constructed BHEL Sadan in Noida on the occasion of BHEL Day on Monday, the company said in a statement. Addressing on the occasion he cited the clarion call of Prime Minister Narendra Modi for achieving the target of 'net zero' carbon emissions by 2070 and said that this 18-storey, eco-friendly green building constructed as per the latest technology and standards is a...
Iberdrola’s Avangrid Ends $4.3 Billion Deal With PNM Resources
World

Iberdrola’s Avangrid Ends $4.3 Billion Deal With PNM Resources

Updated Jan. 2, 2024 3:55 am ETIberdrola’s U.S. renewables subsidiary Avangrid has ended a merger agreement with power company PNM Resources after rejecting a bid to extend the deadline of the $4.3 billion deal reached in October 2020.The Spanish energy company said Tuesday that Avangrid—which is 81.5%-owned by Iberdrola and houses its U.S. renewable-energy assets as well as electric and natural-gas utilities—terminated the deal after conditions for closing it weren’t met in the timeframe the parties agreed to.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Shale Is Keeping the World Awash With Oil as Conflicts Abound
World

Shale Is Keeping the World Awash With Oil as Conflicts Abound

Updated Jan. 1, 2024 12:05 am ETA surprise surge in American oil and gas production and exports is helping to keep the world stocked, blunting the impact of widening conflict in the Middle East that has crimped key shipping lanes. When Iranian-backed Houthi militants began launching missiles and drones at ships crossing the Red Sea near Yemen in October, many feared disruption to the vital shipping lane would drive up energy prices. But oil and gas prices this past month have sunk about 5% and 23%, respectively. Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Shale Is Keeping the World Awash With Oil as Conflicts Abound
Money

Shale Is Keeping the World Awash With Oil as Conflicts Abound

Updated Jan. 1, 2024 12:05 am ETA surprise surge in American oil and gas production and exports is helping to keep the world stocked, blunting the impact of widening conflict in the Middle East that has crimped key shipping lanes. When Iranian-backed Houthi militants began launching missiles and drones at ships crossing the Red Sea near Yemen in October, many feared disruption to the vital shipping lane would drive up energy prices. But oil and gas prices this past month have sunk about 5% and 23%, respectively. Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Meet America’s Newest Oil-Trader Extraordinaire: Joe Biden
Money

Meet America’s Newest Oil-Trader Extraordinaire: Joe Biden

Updated Dec. 31, 2023 2:36 pm ETHead of state. Commander in chief. Oil-trading whale?President Biden’s unprecedented release of oil from the U.S. petroleum reserves in 2022 turned the White House into an unusually active player in the volatile crude market. The flood of emergency supplies helped arrest surging oil prices after Russia invaded Ukraine, and pulled billions of dollars into the Energy Department’s coffers in the process.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Meet America’s Newest Oil-Trader Extraordinaire: Joe Biden
World

Meet America’s Newest Oil-Trader Extraordinaire: Joe Biden

Updated Dec. 31, 2023 2:36 pm ETHead of state. Commander in chief. Oil-trading whale?President Biden’s unprecedented release of oil from the U.S. petroleum reserves in 2022 turned the White House into an unusually active player in the volatile crude market. The flood of emergency supplies helped arrest surging oil prices after Russia invaded Ukraine, and pulled billions of dollars into the Energy Department’s coffers in the process.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Essar to Invest Rs 55,000 Crore in Energy, Port Projects in Gujarat
Business

Essar to Invest Rs 55,000 Crore in Energy, Port Projects in Gujarat

Published By: Mohammad HarisLast Updated: December 14, 2023, 16:56 ISTEssar to invest $6.6 billion in power, port projects in Gujarat.Essar group says it has signed 3 memoranda of understanding with the government of Gujarat for a total investment of Rs 55,000 crore ahead of the Vibrant Gujarat Global Summit 2024Essar group will invest Rs 55,000 crore in energy transition, power, and port projects in Gujarat, the firm said on Thursday after signing pacts with the state government. The investments are for setting up a 1 gigawatt green hydrogen project, expansion of Salaya power plant and transforming Salaya port into a logistics hub.In a statement, the company said it signed three memoranda of understanding with the government of Gujarat for a total investment of Rs 55,000 crore ahead of ...
Why Oil Prices Never Surged to $100 This Year
Money

Why Oil Prices Never Surged to $100 This Year

Travelers, truckers and shippers worldwide can thank the U.S. for helping keep a lid on oil and gasoline prices this year.A year ago, Wall Street analysts were predicting the international benchmark for oil prices would surge from around $85 a barrel to well over $100 in 2023. Instead, Brent crude will likely enter 2024 slightly cheaper than where it started this year, though experts warn any spread in global instability could drive it higher. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8