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The cancellation this week of two major wind projects off the coast of New Jersey effectively sinks President Joe Biden’s end-of-the-decade goal for building out offshore wind energy, a component of the US plan to eventually reach net zero. But the setback is unlikely to rule out the Biden administration’s target of achieving a zero-carbon electricity grid by 2035, experts say. …

Biden Climate Goal Remains in Reach Even After Wind Setback Read More »

(Reuters) – U.S. companies have announced plans to build dozens of solar panel factories across the country since last year when President Joe Biden’s signature climate law unleashed billions of dollars of subsidies, raising hopes a clean energy boom can provide tens of thousands of good paying jobs. But global solar panel prices have collapsed …

Insight: U.S. Solar Panel Manufacturing Boom Threatened by Cheap Imports Read More »

LONDON, Nov 2 (Reuters) – Top oil exporter Saudi Arabia will probably reconfirm in the coming days the extension of its voluntary oil-output cut of 1 million barrels per day through December, six analysts told Reuters. Oil hit a 2023 high in September near $98 a barrel for Brent crude, although it has since weakened …

Saudi Arabia to Keep Voluntary Oil cut in Dec, Analysts Say Read More »

HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) today reported third-quarter 2023 earnings of $2.8 billion, or $2.32 per share, compared with third-quarter 2022 earnings of $4.5 billion, or $3.55 per share. Excluding special items, third-quarter 2023 adjusted earnings were $2.6 billion, or $2.16 per share, compared with third-quarter 2022 adjusted earnings of $4.6 billion, or $3.60 per share. Special …

ConocoPhillips reports third-quarter 2023 results; announces 14% increase in quarterly ordinary dividend Read More »

(Bloomberg) Dominion Energy Inc. secured permission Tuesday from the US Interior Department to build a 2.6-gigawatt offshore wind farm near the Virginia coast — making it the country’s largest-ever authorized offshore wind venture.The Coastal Virginia Offshore Wind project is set to encompass as many as 176 turbines installed approximately 23.5 nautical miles off Virginia Beach. The company has said construction …

Dominion Wins Approval for Biggest-Yet US Offshore Wind Farm Read More »

Summary Oil futures trading 1% higher on Thursday U.S. Federal Reserve held rates steady on Wednesday Israeli forces fight Hamas around Gaza City Bank of England interest rate decision expected 1200 GMT London, Nov 2 (Reuters) – Oil gained 1% on Thursday to snap its three-day decline, as risk appetite returned to financial markets after …

Oil Rises 1% After Fed Keeps Rates Unchanged Read More »

The Electric Reliability Council of Texas is changing its requirements for declaring emergencies, making it easier to take action to keep the grid stable. In some cases, the shift will also mean implementing rotating outages earlier than before. The new protocols will apply to both minimum power reserve requirements and to maintaining frequency levels, Ercot, …

Texas Grid Will Make Triggering Power Emergencies Easier Read More »

U.S. liquefied natural gas (LNG) producers ramped up exports in October, to 7.92 million metric tons, according to data provider LSEG, the second-highest monthly level on record. Exports were just shy of the record 8.01 million metric tons in April this year, and were up from 7.12 million metric tons in September, when plant maintenance …

U.S. October LNG Exports Climb to Second Highest Level on Record Read More »

The promise of the renewable energy industry, underscored by Sunrun Inc.’s acquisition of Vivint Solar three years ago, had investors rushing to jump in. Now, solar stocks are facing a major sell-off, spurring Sunrun to take a $1.2 billion charge to write down the value of its purchase. The move at the biggest US rooftop …

Cloud Skies: Sunrun Takes $1.2 Billion Charge in Latest Blow to Solar Read More »

(Reuters) – U.S. crude stocks and gasoline inventories rose last week as refiners undergoing seasonal maintenance restarted units more slowly than expected to avoid even larger gasoline stock builds, the Energy Information Administration said on Wednesday. Refinery crude runs (USOICR=ECI) rose by only 62,000 barrels per day in the last week, the EIA said, and refinery utilization …

U.S. Crude, Gasoline Stocks Rise as Refiners Ramp Up Slowly- EIA Read More »