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Tag Archives: china

Brent climbs towards $84 on Ukraine tensions, Libya disruptions

some barrels

SINGAPORE, Nov 10 – Brent crude rose towards $84 a barrel on Monday, climbing for a second straight session amid heightened military activity in Ukraine and as chaos in Libya again threatened disruptions to the country’s oil output and exports. A slew of weak economic data from China offered further evidence the world’s second largest economy was cooling, opening the ...

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Penn West says low oil prices no threat to dividend


CALGARY, Alberta, Nov 5 – Penn West Petroleum Ltd , one of Canada’s largest conventional oil producers, said on Wednesday it can pay its dividend and fund its capital program even as falling oil prices cut into profits. The company, which on Wednesday reported a surprise quarterly loss compared with a year-earlier profit, moved to reassure investors that the 14 ...

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Despite oil price panic, experts remain optimistic

oil and money

Bloomberg reported today that although oil prices are falling, the market will not collapse anytime soon. Financial analysts predict that the current slowdown in growth will not last forever.  This is because global consumption itself is slated to increase to 99 million barrels a day in 2019, up from 92.8 million this year. In the future, oil consumption should grow ...

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McConnellsburg company seeks to tap into shale boom

MCCONNELLSBURG — Fulton Precision Industries is looking to tap more deeply into the natural gas drilling industry. The McConnellsburg machine shop makes metal components for other manufacturers, including parts used in drilling equipment. Alan Walker, secretary of the Pennsylvania Department of Community and Economic Development, toured the plant and met with company officials on Monday. Company President Walter Barmont and ...

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Brent drops to near $88 in well-supplied oil market

SINGAPORE, Oct 14 – Brent crude fell to just above $88 a barrel on Tuesday in a well-supplied market as expectations faded that OPEC could cut output and shore up prices. The global oil benchmark has declined more than 20 percent from the 2014 high in June as supplies rose and demand slowed in the United States, Europe and China. ...

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Energy news roundup: NYC energy efficiency push, bearish oil market, and UN climate chief calls for regulatory certainty

New York City Mayor Bill de Blasio announced a new program designed to reduce energy consumption in buildings as part of the city’s greenhouse gas reduction goal. The program called NYC Built to Last is modelled after the NYC Clean Heat initiative that cut soot pollution from heating oil by 50 percent. “Representing three quarters of the city’s greenhouse gas ...

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China, US, India push world carbon emissions up

Seth Borenstein | Associated Press WASHINGTON — Spurred chiefly by China, the United States and India, the world spewed far more carbon pollution into the air last year than ever before, scientists announced Sunday as world leaders gather to discuss how to reduce heat-trapping gases. The world pumped an estimated 39.8 billion tons (36.1 billion metric tons) of carbon dioxide ...

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