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Author Archives: NewsCred

Xcel Energy earnings up for the third quarter

Xcel Energy’s latest profit rose nearly 16 percent thanks largely to rate increases, the Minneapolis-based utility said Thursday. Xcel said it earned $426 million, or 84 cents per share, in the three months ending in September. That’s four cents more than analysts projected, according to Thomson Reuters. In the same period last year, Xcel earned $369 million, or 73 cents ...

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Attorney, six others indicted in oil spill fraud case

gulf oil spill

GULFPORT — A Texas attorney and six others have been indicted on fraud charges involving BP money distributed after the Deepwater Horizon oil spill. The indictment, unsealed Thursday morning, lists as defendants Mikal C. Watts, principal partner in the law firm of Guerra and Craft Watts, and two of his employees. They are his brother, David Watts, and Wynter Lee. ...

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BLM approves drilling permit in Alaska petroleum reserve

JUNEAU, Alaska — The U.S. Bureau of Land Management announced Thursday that it had approved a drilling permit that would clear the way for the first oil and gas production from federal land in the National Petroleum Reserve-Alaska. The permit is for the Greater Mooses Tooth 1 project being pursued by ConocoPhillips Alaska. In a release, BLM Director Neil Kornze ...

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Let’s develop Leviathan and Aphrodite together

Cyprus is interested in developing the Aphrodite gas field together with the Leviathan gas field but cannot wait for Israel, if the delays continue, Cypriot Minister of Energy, Commerce, and Tourism Georgios Lakkotrypis told “Globes” in an exclusive interview. Lakkotrypis revealed that next month there will be a decision on whether the Aphrodite field extends under Israel’s economic waters and ...

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Oil nearly unchanged on minor technical correction

NEW YORK (Reuters) – Oil prices were little changed in quiet technical trade on Tuesday as declining U.S. production and a “rebalancing” momentum in the market offset expectations of Iranian barrels adding to the already persistent supply glut. Brent futures for December delivery fell 17 cents to $48.44 a barrel, a 0.4 percent loss, by 11:49 a.m. EDT. U.S. crude ...

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Solar array gets the green light

ALAMOSA — Alamosa County commissioners gave their conditional approval Wednesday to what could be, if built to full capacity, the largest solar plant in the San Luis Valley. Chicago-based Invenergy wants to build a photovoltaic- solar plant with a capacity of as much as 75 megawatts and possible battery storage. Now the company will turn toward finding a buyer for ...

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Multiple ways to save energy dollars this season

With winter weather straight ahead, and as the dollar becomes tighter, ways to save energy around the house become more important. There are several ways to save energy, and thus dollars, around the home. PPL spokesman Kurt Blumenau said a homeowner has to customize their energy-saving efforts. “Every home is different, and the level of energy savings can vary significantly ...

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Decline of Pittsburgh gasoline prices slower in last week

Pittsburgh-area gasoline averaged about $2.37 a gallon this morning, shedding 1 cent in the last week and suggesting an expected decline in pump prices may take longer to arrive in southwestern Pennsylvania. Meanwhile, U.S. prices dropped 5 cents since last Monday and averaged $2.25 per gallon, according to a survey of more than 700 stations in Pittsburgh and seven surrounding ...

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US lifts oil export ban — now what?

Q: Will lifting the ban on exporting U.S. crude oil lead to higher prices? Marney Cox, San Diego Association of Governments Answer: NO Lifting the oil export ban would lower, not raise prices in the U.S. First, not all oil is the same. The main reason to export would be to solve mismatches between domestic crude oil quality and the ...

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