Latest Energy industry News
Stocks erase a loss as worries over China tensions fizzle
Stocks closed out a solid week on Wall Street Friday with a late-afternoon rebound after worries that President Donald Trump would reignite a costly trade war with China faded. The benchmark S&P 500 index rose 0.5%, recovering from a 1% slide, after Trump outlined several actions in response to a move by...
Iran says it will continue nuclear work despite US sanctions
TEHRAN, Iran (AP) — Iran said Friday its experts would continue nuclear development activities, despite sanctions imposed earlier this week on their fellow scientists by the United States. State TV cited a statement from the country’s nuclear department saying the U.S. decision to impose sanctions...
Regulators approve PG&E bankruptcy plan despite safety fears
BERKELEY, Calif. (AP) — California power regulators on Thursday unanimously approved Pacific Gas & Electric's $58 billion plan for getting out of a bankruptcy caused by a series of deadly wildfires, despite ongoing worries about the utility's ability to safely operate its crumbling electrical grid. The...
Court rejects bid to revive cancelled US pipeline program
BILLINGS, Mont. (AP) — A federal appeals court on Thursday turned down the Trump administration's request to revive a permit program for new oil and gas pipelines, an outcome that industry representatives said could delay more than 70 projects across the U.S. and cost companies up to $2 billion. The case...
Trump's fossil fuel agenda gets pushback from federal judges
BILLINGS, Mont. (AP) — Federal courts have delivered a string of rebukes to the Trump administration over what they found were failures to protect the environment and address climate change as it promotes fossil fuel interests and the extraction of natural resources from public lands. Judges have ruled...
Prices may be rising for world's cheapest gas in Venezuela
CARACAS, Venezuela (AP) — President Nicolás Maduro said Wednesday he's appointed a team of specialists to consider whether the price of the world's cheapest gasoline in Venezuela should rise for drivers in the crisis-stricken nation. Venezuela boasts the world's largest underground oil reserves, but...
PG&E's bankruptcy trial opens with attacks on voting process
BERKELEY, Calif. (AP) — An effort to block Pacific Gas and Electric's path out of bankruptcy kicked off Wednesday's trial on the plan in bankruptcy court as critics of the utility questioned whether the overwhelming vote in favor of the plan by wildfire victims was tainted by conflicts of interest and...
Fed report notes businesses less optimistic about economy
WASHINGTON (AP) — Businesses across the country surveyed by the Federal Reserve don’t appear to share the Trump administration's optimism about a rapid economic recovery starting this summer. The Federal Reserve released a report Wednesday that draws on business contacts from the central bank's 12...
Venezuela's apparent respite from COVID-19 may not last long
CARACAS, Venezuela (AP) — Defying dire predictions, Venezuela so far seems to have avoided the coronavirus wave striking much of South America. But experts warn that while the virus may have been slow to spread here, due in large part to Venezuela’s isolation, the number of daily illnesses could...
Asia stocks mixed on uncertainty over Hong Kong security law
Major Asian stock markets were mixed Wednesday as U.S.-Chinese tension over Hong Kong competed with optimism about recovery from the coronavirus pandemic. Benchmarks in Shanghai and Hong Kong retreated after the White House said a proposed national security law might jeopardize the Chinese territory's status as a...
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