Home / Energy (page 40)

Energy

Bakken Pipeline financing complete, share sold to pay debt

In this May 9, 2015 file photo, pipes for the proposed Dakota Access Pipeline are stacked at a staging area in Worthing, S.D.

DES MOINES, Iowa (AP) — Companies building an oil pipeline from North Dakota across the Midwest into Texas say they’ve completed project financing and sold a share of the pipeline to another company to pay down the debt. Energy Transfer Partners, Sunoco Logistics Partners and Phillips 66 said Tuesday they completed borrowing the remaining $2.5 billion needed to complete the ...

Read More »

Pittsburgh’s Kennametal cutting 1,000 in drilling slowdown

Oil below $40 forces Texas driller into bankruptcy

PITTSBURGH (AP) — Pittsburgh-based Kennametal Inc. says it’s cutting 1,000 jobs over the next 15 months, citing weak demand for the coal-mining and gas-drilling cutting tools it makes. The company announced the cuts to its 12,000-strong workforce on Monday, but didn’t say what facilities will be affected. Kennametal had more than 14,000 employees, including 5,000 in the United States, just ...

Read More »

Sweeney ties gas-tax impasse to Christie’s Trump support

Donald Trump, tickets

TRENTON, N.J. (AP) — A top New Jersey Democrat says Republican Gov. Chris Christie opposes new legislation to raise the gas tax and pay for road and bridge work because he’s “auditioning” for Republican presidential nominee Donald Trump. Senate President Steve Sweeney predicted Monday the stalemate over transportation funding might not be resolved until after the election. The comment comes ...

Read More »

Pipeline construction equipment damage in suspected arson

DES MOINES, Iowa (AP) — Machinery located at three oil pipeline construction sites in central Iowa was found extensively damaged by fire Monday in what the company building the pipeline called a shameful act. There’s little doubt the fires were intentionally set along the Dakota Access pipeline, said Jasper County Sheriff John Halferty. Damage to a bulldozer and other large ...

Read More »

Payments from 2012 BP settlement $7.9 billion so far

Dark clouds of smoke and fire emerge as oil burns during a controlled fire in the Gulf of Mexico, May 6, 2010. (Image: Petty Officer 2nd class Justin Stumberg via Wikipedia)

NEW ORLEANS (AP) — The office that processes claims for businesses and people who suffered economic losses from the 2010 Gulf of Mexico oil spill says it has approved payments totaling $8.5 billion as of June 30. Of that, $7.9 billion in claims has been paid. The figures are in the latest federal court filing from Michael Juneau, the administrator ...

Read More »

Kuwait raises gasoline prices, following Gulf neighbors

Kuwait skyline. (Image: Khaleel Haidar via Flickr)

KUWAIT CITY (AP) — Kuwait will raise its subsidized gasoline prices by as much as 83 percent beginning in September, becoming the last Gulf nation to do so as low global oil prices continue to gnaw away at governments across the region. Kuwait’s Cabinet announced the decision on Monday, with the biggest price hike coming for its premium-grade gasoline. As ...

Read More »

Natural gas conversion company wants to dissolve

gas leak

AUGUSTA, Maine (AP) — A Maine natural gas company that faced a $250,000 fine this year following a potentially “catastrophic” gas leak is asking the state to dissolve an affiliate. On Friday, Summit Natural Gas of Maine asked the state Public Utilities Commission to dissolve Natural Gas Conversion Company, which launched in 2014 to help Mainers convert home heating systems ...

Read More »

Puerto Rico hit with new power bill increase amid crisis

Puerto Rico

SAN JUAN, Puerto Rico (AP) — Puerto Ricans have been hit with another increase in electric bills as the U.S. territory’s power company struggles to stay afloat. The heavily indebted Electric Power Authority says the increase implemented on Monday will generate some $94 million this fiscal year. Clients on average will see a $6 monthly increase in bills, which already ...

Read More »