Correspondent, Energy and Infrastructure
Braden's Feed
Jul 18, 2012

Noble Corp Q2 profit triples, rivals sign US Gulf deals

July 18 (Reuters) – Quarterly profits tripled at Noble Corp
, the owner of the world’s third-largest offshore drilling
fleet, as costly downtime decreased and revenue grew with the
debut of new rigs in Brazil and the Gulf of Mexico.

Work off the U.S. Gulf Coast has led to new deals for some
of Noble’s competitors too. On Wednesday, Transocean
said it landed a $595,000-per-day contract for one of its
ultra-deepwater rigs there, while Diamond Offshore Drilling Inc
said it struck a deal for a deepwater unit under
construction.

Jul 18, 2012

Analysis: U.S. solar tariffs not slowing slide in panel prices

SAN FRANCISCO (Reuters) – New U.S. import tariffs have prompted China’s solar panel makers to buy more expensive supplies elsewhere and avoid the new duties, but prices for the renewable energy equipment continue to decline.

The United States put two new import duties totaling about 35 percent on solar equipment from China, citing the country’s unfair support of its industry and illegal dumping of inventories in the U.S. market.

Jul 18, 2012

U.S. solar tariffs not slowing slide in panel prices

SAN FRANCISCO (Reuters) – New U.S. import tariffs have prompted China’s solar panel makers to buy more expensive supplies elsewhere and avoid the new duties, but prices for the renewable energy equipment continue to decline.

The United States put two new import duties totalling about 35 percent on solar equipment from China, citing the country’s unfair support of its industry and illegal dumping of inventories in the U.S. market.

Jul 17, 2012

Oilfield service outlook dims as offshore view brightens

July 17 (Reuters) – A brightening outlook for offshore
drillers indicates they will emerge looking relatively healthy
from what is set to be a tough round of quarterly earnings for
companies serving the oil and gas business.

Brisk production and exploration activity at sea contrasts
with the troubles facing U.S.-focused oilfield services
companies. Halliburton (HAL.N: Quote, Profile, Research) and Baker Hughes (BHI.N: Quote, Profile, Research) face
supply chain challenges and costlier materials, which have been
flagged by analysts and companies for months.

Jul 11, 2012

Chevron sees second quarter profit increase

By Braden Reddall

(Reuters) – Chevron Corp (CVX.N: Quote, Profile, Research), the second-largest U.S. oil company, said on Wednesday second-quarter profit would be higher than the previous quarter as improved refining margins offset lower oil prices.

Analysts had been expecting a net profit of $3.20 per share, according to Thomson Reuters I/B/E/S, down from $3.27 in the first quarter and $3.85 in the same quarter a year before.

Jul 11, 2012

Chevron sees 2nd-quarter profit increase on refining strength

By Braden Reddall

(Reuters) – Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz), the second-largest U.S. oil company, said on Wednesday second-quarter profit would be higher than the previous quarter as improved refining margins offset lower oil prices.

Analysts had been expecting a net profit of $3.20 per share, according to Thomson Reuters I/B/E/S, down from $3.27 in the first quarter and $3.85 in the same quarter a year before.

Jul 11, 2012

Canadian Solar CEO: could build 700-MW factory in China

SAN FRANCISCO (Reuters) – Canadian Solar Inc (CSIQ.O: Quote, Profile, Research, Stock Buzz) is expected to decide within months whether to build a factory that could produce 700 megawatts per year of new, more efficient solar cells, the firm’s head said on Tuesday, with any facility likely to be in China.

Chief Executive Shawn Qu said at a conference in San Francisco that there was a good chance the company, which already carries out most of its production in China, would take the step despite oversupply in the solar equipment market. He declined to comment on the potential cost.

Jul 2, 2012

Fed ready to take away punch bowl when time comes: Williams

SAN FRANCISCO (Reuters) – The U.S. Federal Reserve is prepared to pull back on its super-easy monetary policy when the time is right, keeping inflation under control as it has during the tepid recovery, a top Fed official said on Monday.

“Just as in any recovery, we are going to ‘take away the punch bowl’ once the party really gets going to slow the economy down and dampen inflationary pressures and keep inflation low,” S an Francisco Federal Reserve Bank President John Williams told the Western Economic Association International in a talk that focused largely on why the Fed’s unprecedented easy monetary policy so far has not led to inflation.

Jun 29, 2012

Calif. growers join greens to query frack safety

, June 29 (Reuters) – Hydraulic fracturing
has brought together greens and growers in California through a
shared concern about the impact of the practice on water in a
state where it is often in short supply.

The strawberry industry lined up alongside environmentalists
to voice their fears over fracking at a public hearing in
Salinas at the Steinbeck Institute, named for a renowned author
whose writing immortalized the region’s agricultural history.

Jun 25, 2012

BP, Conoco back Skyonic plant to turn CO2 into products

By Braden Reddall

(Reuters) – U.S. carbon capture firm Skyonic has signed up BP Plc and ConocoPhillips as investors to back construction of a commercial plant in Texas that will turn carbon dioxide into chemicals for sale or into solids for placement in landfills.

While funding from the two oil companies may only be in the millions of dollars, it supports a novel method of capturing carbon and turning a profit at the same time, Joe Jones, Skyonic’s founder and chief executive, said in Reuters telephone interview from London on Monday.

    • About Braden

      "Spent early career in London covering technology, media and telecoms over five years, after an initial stint in Dublin. Worked as India's chief financial copy editor and deputy bureau chief in Mumbai for 2-1/2 years before moving to San Francisco in 2006, first to edit West Coast stories and then to cover the energy business. A native Californian, Braden received his BA in Economics from the University of Chicago in 1996."
      Hometown:
      Santa Maria, CA
      Joined Reuters:
      1997
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