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Tag Archives: energy prices

Imperium Renewables biodiesel plant sold to Iowa company

An Iowa biofuel producer has agreed to buy nearly all the assets of Imperium Renewables, the operator of a Grays Harbor biodiesel plant once hailed as the largest in the U.S. Renewable Energy Group, now the country’s largest biodiesel producer, will pay Imperium about $32 million in cash and stock. The deal also includes a 5-cents-per-gallon payment for biodiesel from ...

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Report: NM State revenue better than expected

Although lower energy prices sent chills through state budget writers during the recent legislative session, New Mexico should end the fiscal year with more money than expected, according to an analysis released this week. “The largest risks to the fiscal year revenue forecast have passed,” according to the General Fund Revenue Tracking update compiled by Legislative Finance Committee economists. The ...

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U.S. economy expanding, cheap oil both a boost and drag: Fed

WASHINGTON – U.S. economic activity continued to expand from mid-May through June, with lower energy prices helping to boost consumer spending but remaining a drag on manufacturing, the Federal Reserve said on Wednesday. In its Beige Book report of anecdotal information on business activity collected from contacts nationwide, the U.S. central bank said most of its regional Fed banks described ...

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Saratoga Resources files Chapter 11

After navigating its way out of bankruptcy in 2010, Saratoga Resources of Houston announced voluntary Chapter 11 Bankruptcy yesterday, the Houston Business Journal Reports. The company cited several factors for its decision, including the global slump in energy prices and an arbitration award against it. Saratoga said they had initially taken “exhaustive efforts” to offset production declines early last year ...

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Gulf Marine plans layoffs of 554 workers

ARANSAS PASS — Offshore manufacturer Gulf Marine Fabricators is planning to shed 554 jobs at its facility in Aransas Pass during the next eight weeks amid plummeting energy prices. Notices were sent out to employees on May 18, according to a Worker Adjustment and Retraining Notification report released Tuesday by the Texas Workforce Commission. The layoffs were expected to be ...

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Low energy prices rock Stone’s performance

LAFAYETTE, La. — Plunging energy prices slashed the value of Stone Energy Corp.’s oil and gas properties and sent the Lafayette-based company to a first-quarter paper loss of $327.4 million, or $5.93 per share. The first-quarter results included a $314.5 million after-tax write-down of its oil and gas properties. Without that charge, Stone lost $12.9 million, or 23 cents per ...

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