Latest Energy industry News

A man walks past an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Friday, May 29, 2020. Shares fell Friday in Asia after Wall Street’s rally petered out amid worries about flaring U.S.-China tensions. (AP Photo/Eugene Hoshiko)

Stocks erase a loss as worries over China tensions fizzle

May. 29, 2020 5:13 PM EDT

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...

FILE - In this Oct. 26, 2010, file photo, a worker rides a bicycle in front of the reactor building of the Bushehr nuclear power plant, just outside the southern city of Bushehr. Iran said Friday, May 29, 2020, its experts would continue nuclear development activities, despite sanctions imposed earlier this week on their fellow scientists by the United States. (AP Photo/Mehr News Agency, Majid Asgaripour, File)

Iran says it will continue nuclear work despite US sanctions

May. 29, 2020 4:25 AM EDT

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...

FILE - In this Feb. 11, 2020, file photo, a Pacific Gas & Electric truck leaves the company's Oakland Service Center in Oakland, Calif. PG&E's chief financial officer, Jason Wells, is expected to face questions Thursday, May 28 about the company's plan to nearly double its debt to almost $40 billion to finance its payments to wildfire victims, insurers and government agencies in the second day of the company's bankruptcy trial. Meanwhile, the Public Utilities Commission will vote on the bankruptcy plan. (AP Photo/Ben Margot, File)

Regulators approve PG&E bankruptcy plan despite safety fears

May. 28, 2020 7:09 PM EDT

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...

In this April 13, 2020, photo provided by TC Energy, construction contractors for TC Energy are seen installing a section of the Keystone XL crude oil pipeline at the U.S.-Canada border north of Glasgow, Mont. U.S. District Judge Brian Morris has struck down a nationwide permitting program for new oil and gas pipelines in a lawsuit against the controversial Keystone XL oil sands pipeline from Canada. (TC Energy via AP)

Court rejects bid to revive cancelled US pipeline program

May. 28, 2020 6:39 PM EDT

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...

FILE - This Dec. 22, 2018, file photo shows a pump jack over an oil well along Interstate 25 near Dacono, Colo. 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. (AP Photo/David Zalubowski, File)

Trump's fossil fuel agenda gets pushback from federal judges

May. 28, 2020 3:54 PM EDT

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...

People stand close to their vehicles as they wait in line to fill up their vehicles with gasoline in Caracas, Venezuela, Saturday, April 11, 2020. Lines at gas stations around the country's capital looked getting longer Saturday. (AP Photo/Matias Delacroix)

Prices may be rising for world's cheapest gas in Venezuela

May. 27, 2020 9:46 PM EDT

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...

FILE - In this Dec. 3, 2018, file photo, a vehicle rests in front of a home leveled by the Camp Fire in Paradise, Calif. An effort to block Pacific Gas and Electric's path out of bankruptcy kicked off the trial Wednesday, May 27, 2020, 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 shoddy counting. PG&E's plan won support last week in a landslide, with victims overwhelmingly backing PG&E's $58 billion proposal to emerge from bankruptcy after 18 months. (AP Photo/Noah Berger, File)

PG&E's bankruptcy trial opens with attacks on voting process

May. 27, 2020 5:13 PM EDT

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...

Workers build a protective barrier as construction resumed on the New York Islanders' new arena, located adjacent to Belmont race track, during the current coronavirus outbreak, Wednesday, May 27, 2020, in Elmont, N.Y. Long Island became the latest region of New York to begin easing restrictions put in place to curb the spread of the coronavirus as it entered the first phase of the state's four-step reopening process. Gov. Andrew Cuomo announced Tuesday that Nassau and Suffolk counties could begin reopening parts of their economy after nonessential businesses were shuttered for two months. (AP Photo/Kathy Willens)

Fed report notes businesses less optimistic about economy

May. 27, 2020 5:10 PM EDT

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...

Homes cover a hill in the San Agustin neighborhood of Caracas, Venezuela, Sunday, May 17, 2020. President Nicolas Maduro is relaxing quarantine measures over the weekend by allowing children and older adults out of their homes for a few hours each day. (AP Photo/Matias Delacroix)

Venezuela's apparent respite from COVID-19 may not last long

May. 27, 2020 12:22 AM EDT

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...

A currency trader talks near the screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Wednesday, May 27, 2020. Major Asian stock markets have declined as US-Chinese tension over Hong Kong competes with optimism about recovery from the coronavirus pandemic. (AP Photo/Lee Jin-man)

Asia stocks mixed on uncertainty over Hong Kong security law

May. 26, 2020 11:48 PM EDT

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...