Matt's Feed
Apr 27, 2011

BP, Conoco profits disappoint as output sags

NEW YORK (Reuters) – BP Plc (BP.L: Quote, Profile, Research, Stock Buzz) and ConocoPhillips (COP.N: Quote, Profile, Research, Stock Buzz) reported disappointing quarterly earnings on Wednesday as both oil giants’ crude oil production declined, offsetting the windfall from soaring energy prices.

BP’s profits slipped 2 percent because of costs related to the disastrous Gulf of Mexico oil spill last year, while Conoco’s output suffered from the conflict in Libya and pipeline problems in North America.

Apr 18, 2011

Halliburton profit tops views as North America soars

SAN FRANCISCO/NEW YORK, April 18 (Reuters) – Oilfield
service company Halliburton Co’s (HAL.N: Quote, Profile, Research, Stock Buzz) quarterly profit
topped Wall Street forecasts as a surge in its North American
business overshadowed a hit to its Libyan operations.

Halliburton’s oil company customers have increased spending
on new projects to take advantage of high oil prices, which
surged above $100 per barrel in late February and have remained
strong due to turmoil in the Middle East and North Africa and
fears about the global economic recovery.

Apr 12, 2011

Blackstone joins shale frenzy with $1 billion venture

NEW YORK (Reuters) – Blackstone Group (BX.N: Quote, Profile, Research, Stock Buzz) is investing in the lucrative area of shale, following rivals such as Kohlberg Kravis Roberts & Co (KKR.N: Quote, Profile, Research, Stock Buzz).

North American shale fields are drawing billions of dollars from companies that are eager to learn the techniques to tap into the difficult geological formations.

Apr 7, 2011

GE makes $600 million push into solar energy

BOSTON/NEW YORK, April 7 (Reuters) – General Electric Co
(GE.N: Quote, Profile, Research, Stock Buzz) made a big push in solar power, saying it will invest
$600 million to build a new factory as it pursues what it
thinks could be an up to $3 billion business by 2015.

The largest U.S. conglomerate, which over the past decade
has made itself a leader in renewable energy, said it has
designed a thin-film solar panel that converts sunlight to
electricity more efficiently than anything available on the
market today.

Apr 5, 2011

SolarCity sees U.S. panel prices tumbling in 2011

NEW YORK (Reuters) – Solar panel prices in the United States are likely to drop by 20 cents per watt this year, according to the head of SolarCity, one of the nation’s largest photovoltaic solar service companies.

That drop would put the price of the panels that convert sunlight into electricity at about $1.40 per watt on average, or about 12.5 percent below prices quoted at the beginning of 2011.

Mar 24, 2011

Japan rebuilding to drive materials demand

NEW YORK (Reuters) – The catastrophic earthquake that rocked Japan will drive up sales of key materials the country needs to rebuild from the estimated $300 billion in damage, company executives told the Reuters Global Mining and Steel Summit on Thursday.

The disaster — Japan’s worst-ever quake and the ensuing tsunami — has so far killed 9,523, forced more than a quarter of a million people from their homes and set off a crisis at a nuclear power plant.

Mar 24, 2011

Reuters Summit-Japan rebuilding to drive materials demand

NEW YORK, March 24 (Reuters) – The catastrophic earthquake
that rocked Japan will drive up sales of key materials the
country needs to rebuild from the estimated $300 billion in
damage, company executives told the Reuters Global Mining and
Steel Summit on Thursday.

The disaster — Japan’s worst-ever quake and the ensuing
tsunami — has so far killed 9,523, forced more than a quarter
of a million people from their homes and set off a crisis at a
nuclear power plant.

Mar 17, 2011

New York nuclear plant’s future shaky as fears grow

NEW YORK (Reuters) – New worries about a New York nuclear plant’s vulnerability to earthquakes could hand the state’s governor an opportunity to try to close the plant, but New York City’s huge power needs could stall any such moves.

New York Governor Andrew Cuomo, who has long been a critic of the Indian Point plant owned by Entergy Corp, called for a review of its safety this week after new data showed it was the most vulnerable nuclear plant in the country to damage from an earthquake.

Mar 14, 2011

Japan crisis hits U.S./Canada nuclear sector

TORONTO/NEW YORK, March 14 (Reuters) – Investors punished
shares of companies that build nuclear power plants and supply
them with fuel on Monday as the disaster in Japan threw an
industry “renaissance” into doubt.

Energy companies have touted nuclear power as an efficient,
carbon-free source of power to counter climate change,
prompting dozens of power companies to propose new reactors in
the United States and around the globe.

Mar 14, 2011

Chevron eyes Aussie gas, tightens refinery squeeze

NEW YORK/SAN FRANCISCO, March 14 (Reuters) – Chevron Corp
(CVX.N: Quote, Profile, Research, Stock Buzz) is investing heavily in two huge Australian natural gas
projects to ignite growth at the second-largest U.S. oil
company even as it carves costs out of its refining division.

Mike Wirth, who runs the downstream division, expects
margins to stay soft this year, and told the yearly session
with analysts that refining costs would be down $700 million
next year versus 2008, with $500 million already achieved.

    • About Matt

      "Matt is the Team Leader for the Raw Materials Group and is based in New York. He has worked in Reuters' bureaus in New York, Houston and Amsterdam."
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