Oil flowing west to Asia pushes Vancouver port growth
The port of Vancouver, Canada’s busiest, may issue debt to help finance the largest expansion in its history as the country’s resource companies move to boost shipments amid escalating Asian demand for coal, grain and oil. More »
Petrobras in talks with Sinopec to develop Brazil refineries
Petroleo Brasileiro SA (PETR4), the world’s most indebted publicly traded oil company, is in talks with China Petroleum & Chemical Corp. (600028) to build a refinery in Brazil to meet growing domestic demand, Brazil’s energy minister said. More »
ConocoPhillips may fund spending with cash and debt
ConocoPhillips said it may use cash, debt and asset sales to fund its dividend and capital spending as it waits for production to rise. The company is targeting “consistent” dividend increases, leaders said at the analyst meeting Thursday. More »
Canadian government hopes US will do ‘right thing’ on Keystone
Canada’s Natural Resources Minister Joe Oliver said the government is hopeful that the United States will do the “right thing” and approve TransCanada Corp.’s Keystone XL pipeline. More »
Bill White says Texas lagging in skilled jobs
Former Houston Mayor Bill White, defeated by Republican Rick Perry in a 2010 bid for governor of Texas, said the state is falling behind in preparing workers who can meet the demands of a resurgent U.S. energy industry. More »
North Dakota fracking boom leaves oil hub a bust
Oil extracted from wells ringing Williston, North Dakota, helped push the state’s surplus to a record $1.6 billion and generate the nation’s lowest jobless rate. Drilling also left the city broke. More »
Shell sees solar as biggest energy source after exiting it
Royal Dutch Shell Plc (RDSA) says solar power, a business it abandoned four years ago, may expand into the world’s biggest source of energy in the next half century. More »
Chevron hunting Moroccan elephants marks first oil boom
Chevron Corp. (CVX) and Genel Energy Plc (GENL) are hunting for elephants in Morocco. Not the animal, rather the giant oil fields that send explorers’ market values soaring when they’re discovered in the frontier. More »
Centerpoint shares increase on MLP formation plan
Centerpoint Energy Inc., a Houston-based energy distributor, rose the most in more than a year after it said it’s still considering forming a master-limited partnership. More »
Chevron reaped $1.49 billion after U.S. botched leases
Chevron Corp. (CVX) reaped the most among the five largest oil companies drilling on U.S. deep water leases that mistakenly omitted drilling-fee provisions, according to a report produced by a Democratic lawmaker. More »
Exxon wins reversal of gas-leak punitive damages award
Exxon Mobil Corp. (XOM) won the reversal of more than $1 billion in punitive damages over a 2006 gasoline leak that Maryland residents claimed fouled their drinking water. More »
Germany agrees on regulation to allow fracking for shale gas
German Chancellor Angela Merkel’s government agreed on draft regulation to allow the tapping of shale gas via hydraulic fracturing, or fracking, a practice the opposition says may harm the environment. More »
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