Matt's Feed
May 21, 2012

New facilities spotlight next-generation biofuels

By Matt Daily

(Reuters) – After a decade of promise, advanced biofuels makers are entering a crucial make-or-break period with the first of a new generation of production facilities about to come on line.

The new facilities are designed to take biofuels beyond corn-based ethanol and begin to shift the industry to “advanced” fuels made with a lower carbon footprint derived from products that will not compete with demand for food.

May 18, 2012

Analysis: New facilities spotlight next-generation biofuels

By Matt Daily

(Reuters) – After a decade of promise, advanced biofuels makers are entering a crucial make-or-break period with the first of a new generation of production facilities about to come on line.

The new facilities are designed to take biofuels beyond corn-based ethanol and begin to shift the industry to “advanced” fuels made with a lower carbon footprint derived from products that will not compete with demand for food.

May 18, 2012

China cries foul after U.S. sets tariffs on solar imports

By Matt Daily and Leonora Walet

(Reuters) – The United States imposed punitive tariffs on solar panel imports from China, the latest in a series of trade disputes between the world’s two biggest economies and sparking accusations by Beijing of protectionism.

The new tariffs of 30 percent, much bigger than had been expected, were set on Thursday by the U.S. Commerce Department after it ruled in favor of local firms which said the Chinese exporters were dumping cut-price solar panels on their market.

May 18, 2012

US sets new tariffs on Chinese solar imports

May 18 (Reuters) – The United States hit Chinese solar
companies with punitive import tariffs of 30 percent or more on
Thursday, ruling they had dumped cut-price solar panels on the
U.S. market.

In the latest in a series of trade disputes between Beijing
and Washington, the U.S. Commerce Department said it had sided
with U.S.-based solar companies that had complained a wave of
Chinese imports had wrongly undercut their pricing and forced
several renewable players out of business.

May 17, 2012

US sets new tariffs on Chinese solar imports-source

May 17 (Reuters) – The United States ruled that Chinese
solar companies had illegally ‘dumped’ renewable power equipment
on the U.S. market at below-market prices, and ordered tariffs
on the imports, a source close to the case said on Thursday.

In a move likely to enflame trade tensions between Beijing
and Washington, the preliminary ruling from the U.S. Commerce
Department set tariffs on top Chinese exporters Suntech Power
Holdings Co Ltd and Trina Solar Ltd at about 31
percent, according to the source.

May 15, 2012

IBM helps oil companies manage gusher of data

HOUSTON/NEW YORK (Reuters) – IBM thinks it can make geologists and engineers more effective at mining the fast-growing wealth of data on everything from oil reservoirs to refineries to help them find, extract and process oil.

The computer services company has spent the past three years building a team of 5,000 consultants, scattered around major oil basins worldwide, to help companies tackle the data explosion.

May 15, 2012

Chesapeake shares fall on downgrade, loan

By Anna Driver and Matt Daily

(Reuters) – Chesapeake Energy Corp shares dropped as much as 6.5 percent on Tuesday following a credit rating downgrade and news that the natural gas producer will boost its borrowings to $4 billion from the planned $3 billion as it faces a liquidity crunch.

The company, facing a funding shortfall of $9 billion to $10 billion this year, said on Friday that Goldman Sachs and Jefferies Group would provide it with $3 billion.

May 14, 2012

Chesapeake confident on asset sales, shares rise

May 14 (Reuters) – Chesapeake Energy Corp sought to
calm Wall Street worries about its financial position, telling
investors on Monday it was confident it would complete asset
sales to plug a funding gap, sending shares up as much as 11
percent.

The stock rebound came after a steep drop last week and was
driven by news late Friday that the company had secured a $3
billion loan, as well as a report that activist investor Carl
Icahn would take a stake in the company.

May 12, 2012

Chesapeake gets new $3 billion loan

By Carrick Mollenkamp and Matt Daily

(Reuters) – Chesapeake Energy Corp said it had received a $3 billion loan from Goldman Sachs and Jeffries Group that will give it breathing room to sell assets and close a funding gap this year.

The unsecured loan will be used to repay money borrowed under its existing $4 billion revolving credit facility, Chesapeake said.

May 3, 2012

First Solar ups forecast after miss, Sunpower beats

May 3 (Reuters) – First Solar posted a surprise
quarterly loss on Thursday, but raised its full-year profit
outlook as it drives down production costs for its solar panels,
while peer SunPower Corp slightly beat Wall Street
forecasts.

The shares of the two largest U.S.-based solar makers were
nearly flat in post market trading.

    • 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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