Wednesday, May 22, 2019

California News

Warren Buffett Backs Oxy's Anadarko Bid

(Photo: Anadarko)

Warren Buffett's Berkshire Hathaway Inc committed $10 billion on Tuesday to Occidental Petroleum Corp's $38 billion cash-and-stock bid for Anadarko Petroleum Corp, boosting its chances of snatching a deal from Chevron Corp.Occidental…

Chevron Profit Falls 27%

(File photo: Chevron)

Chevron Corp's first-quarter profit fell 27 percent from a year earlier due to lower crude oil prices and weaker margins in its refining and chemicals businesses, but topped forecasts and signaled it is committed to buying smaller rival Anadarko Petroleum Corp.The No. 2 U.S.

Chevron to Buy Anadarko for $33 Bln

(Photo courtesy Anadarko)

Chevron Corp on Friday said it will buy oil and gas producer Anadarko Petroleum Corp for $33 billion in cash and stock in a deal that doubles down on its bet on U.S. shale and LNG as U.S. energy production is shattering records.The…

Sempra Gets Okay for LNG Export in Mexico

Pic: Sempra Energy

San Diego utility company Sempra Energy Sempra Energy said that its subsidiary Energía Costa Azul (ECA) LNG received two authorizations from the US Department of Energy (DOE) to export US produced natural gas to Mexico and to…

US Offshore Drilling Takes Center Stage

© Mike Mareen / Adobe Stock

U.S. lawmakers will quiz President Donald Trump’s new pick to lead the Interior Department on Thursday, focusing on the former energy and mining lobbyist’s plans to expand fossil fuels production from the United States' public lands and waters.The Interior Department…

Chevron Expects 3-4% Annual Output Growth

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U.S. oil major Chevron Corp said on Tuesday it expects its annual production to grow in the range of 3 percent to 4 percent through 2023, boosted by strong performance in the country's top shale region, the Permian basin.The…

Senate Confirms Wheeler to lead EPA

The U.S. Senate on Thursday confirmed President Donald Trump's candidate, a former coal lobbyist, to lead the nation's top environmental regulator, infuriating Democrats and conservation groups who said his policies were endangering…

Equinor Lines Up Floating Wind in S.Korea

Hywind Scotland floating offshore wind turbines. (Photo: Øyvind Gravås / Woldcam - Equinor)

Equinor and South Korea's state-owned National Oil Corporation (KNOC) will explore opportunities to develop commercial floating offshore wind farms in South Korea, the Norwegian company said on Friday.South Korea aims to reduce its dependence on nuclear and coal power, targeting

Chevron's Profit Rises

(Photo: Chevron)

U.S. oil and natural gas producer Chevron Corp on Friday reported quarterly earnings that topped analysts' estimates on higher prices and production, sending shares higher in premarket trading.Results for the San Ramon, California…

ExxonMobil Shareholders Want GHG Reduction Goals

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A number of institutional investors in ExxonMobil Corp have said they will file a shareholder resolution which calls on the world's largest oil company to set targets for lowering its greenhouse gas emissions.The call, led by the New York State Common Retirement Fund (NYSCRF) and

Chrysaor Sets Sights on Chevron's North Sea Assets

Captain in the U.K. North Sea (Photo: Chevron)

Private equity-backed oil firm Chrysaor has hired advisers ahead of talks to buy Chevron's British North Sea oil and gas fields for over $2.5 billion, industry and banking sources said.Chrysaor has signed up investment banks…

Chevron Will Boost Capital Spending in 2019

(File photo: Chevron)

Chevron Corp plans to spend $20 billion next year on oil and natural gas projects, the second-largest U.S.

Castello Branco Named Petrobras CEO

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Brazil's incoming far-right government on Monday tapped a University of Chicago-trained economist with experience in the oil sector to be the chief executive of state-controlled Petroleo Brasileiro SA, amid a debate over privatization…

Sempra Energy Signs New Mexican LNG Terminal

Pic: Sempra Energy

Sempra Energy, the US group that aims to build a liquefied natural gas (LNG) export facility near Ensenada, Mexico, to serve customers in Asia moved closer to becoming reality as the natural gas utilities holding company  announced…

Lightsource BP Expands US Portfolio

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Lightsource BP, Europe's biggest solar energy developer, will expand its U.S. portfolio after signing a deal to build two solar projects, the UK-based company said on Wednesday.The 16 megawatt (MW) Wildflower Solar project will…

Chevron Names Green President of N. America E&P

Steven W. Green (Photo: Chevron)

Steven W. Green has been named president of Chevron North America Exploration and Production, succeeding Jeff Shellebarger, who is retiring from Chevron after 38 years of service.Green will transition from his current role as…

U.S. Announces Major Offshore Wind Developments

Gulf Island Fabricators constructed offshore wind turbine  jackets for Deepwater Wind’s Block Island Wind Project off Rhode Island. BOEM Photo/Sid Falk

U.S. Secretary of the Interior Ryan Zinke announced three major developments in American offshore wind energy spanning from coast to coast.The Secretary spoke at the American Wind Energy Association’s Offshore Wind Conference…

Several US States Likely Withheld from Offshore Drilling Plan

Interior Secretary Ryan Zinke (Photo: U.S. Department of Interior)

Interior Secretary Ryan Zinke has hinted to at least six coastal states that he will keep their waters out of a looming plan to expand U.S. offshore drilling, telling some they lack enough oil to be included anyway, according…

British Columbia Natgas Exports to Washington Rise Slowly After Pipe Blast

© Jim / Adobe Stock

The amount of natural gas moving from British Columbia to Washington state through the Sumas hub edged up over the weekend after Enbridge Inc last week returned a pipeline to service following a pipe blast in British Columbia.The…

Chevron Eyes Houston Ship Channel for 2nd US Gulf Refinery

(File photo: Port of Houston)

Chevron Corp wants to build or buy a refinery along the U.S. Gulf Coast to process crude oil from its rapidly growing Permian Basin operations, a senior executive said on Tuesday.The company would like to have refining operations on the Houston Ship Channel…