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Author Archives: Zach Koppang

Norway’s oil fund to sue Volkswagen over emissions scandal

STOCKHOLM (AP) — Norway’s $850 billion national oil fund plans to sue Volkswagen over the company’s emissions-cheating scandal. Officials from the sovereign wealth fund, which invests and manages the money made from the state oil company, is a shareholder in the carmaker and confirmed Monday a report in the Financial Times saying it will join a class-action lawsuit in Germany ...

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Train hauling fracking sand derails in northern Colorado

TIMNATH, Colo. (AP) — Firefighters say nine train cars that derailed near an elementary school in northern Colorado were carrying sand used in fracking but no hazardous materials. The Great Western cars, part of a 100-car train, came off the tracks and tipped Sunday morning in Timnath, east of Fort Collins. No one was hurt. Poudre (kash-luh-POO’-dur) Fire Authority spokeswoman ...

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Aruba, Citgo negotiate deal to reopen shuttered oil refinery

Aruba, oil refinery, Citgo

SAN JUAN, Puerto Rico (AP) — The Aruban government and Venezuela’s Citgo Petroleum Corp. are finalizing an agreement to reopen an oil refinery that has been shuttered since 2009. Aruban Energy Minister Mike de Mesa says the accord calls for the rehabilitation of the facility and provides the U.S.-based subsidiary of Venezuelan state oil company PDVSA with a 15-year operational ...

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Wildlife group sues US over Enbridge pipeline in Michigan

DETROIT (AP) — An environmental group is accusing the federal government of misjudging an emergency response plan for a major oil pipeline that runs through Michigan. The National Wildlife Federation filed a lawsuit Monday against a pipeline safety agency, saying the government in 2013 failed to account for impacts on wildlife, plants, and Great Lakes shore if Line 5 ruptures. ...

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Moody’s downgrades Saudi Arabia on lower oil prices

Saudi Arabia, oil prices

NEW YORK (AP) — Saudi Arabia’s credit rating has been downgraded by Moody’s because of the long and deep slump in oil prices. Moody’s Investors Service said Saturday that it also downgraded Gulf oil producers Bahrain and Oman. It left ratings unchanged for other Gulf states including Kuwait and Qatar. Saudi Arabia is the world’s largest oil exporter. Moody’s cut ...

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Canadian PM arrives in fire-ravaged Fort McMurray

FORT MCMURRAY, Alberta (AP) — Canada’s Prime Minister arrived in wildfire-ravaged Fort McMurray on Friday and after taking a helicopter tour to assess the damage said he doesn’t think most Canadians comprehend yet the scope of what happened in the oil sands capital, where more than 88,000 people were forced to evacuate. Just Trudeau arrived in the northern Alberta city ...

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Nigerian Chevron facility bombed, ExxonMobil cuts exports

LAGOS, Nigeria (AP) — An explosion closed a second Chevron facility in Nigeria, witnesses said Friday, as renewed attacks by militants further cut production in Africa’s biggest petroleum producer. Adding to Nigeria’s economic woes, Exxon Mobil on Friday said some production of Qua Iboe crude — the West African nation’s largest crude grade — has halted because a drilling rig ...

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Williams sues to maintain sale to Energy Transfer Equity

DALLAS (AP) — Williams Cos. has gone to court to pressure rival pipeline company Energy Transfer Equity to go through with the planned $32.6 billion purchase of Williams. In a lawsuit filed in state court in Delaware, Williams suggested that Energy Transfer is trying to get out of the deal. Energy Transfer’s spokeswoman did not immediately return phone and email ...

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US stocks gain in morning trading as crude oil rises

NEW YORK (AP) — Stocks rose on Wall Street Monday morning, led by gains in energy companies as the price of crude oil increased sharply. Marathon Oil jumped 6 percent and offshore driller Transocean rose 5 percent. Major U.S. stock indexes have fallen for three weeks in a row. KEEPING SCORE: The Dow Jones industrial average rose 125 points, or 0.7 ...

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