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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 ...

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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 ...

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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 ...

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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 ...

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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 ...

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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. ...

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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 ...

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