Feb 23 (Reuters) – China’s Trina Solar Ltd
posted a larger-than-expected quarterly loss on Thursday as
strong shipments of solar panels failed to offset steep declines
in prices for renewable energy systems, sending the company’s
shares plunging as much as 10 percent.
Solar manufacturers have suffered from a huge oversupply of
equipment on the market, which drove prices for panels down
about 50 percent last year, even as global demand rose.
Feb 21 (Reuters) – Canadian Solar said on
Tuesday it shipped more solar panels in the fourth quarter than
it previously expected, while its rival Yingli Green Energy
warned its sales fell short of its forecast.
A steep 50 percent drop in prices of solar panels during
2011 left many manufacturers scrambling to sell a glut of
supplies at the end of the year, and prompted many companies to
run factories at reduced levels.
Feb 21 (Reuters) – Anadarko Petroleum Corp
Chief Executive Officer Jim Hackett is stepping down in May and
handing the job over to Chief Operating Officer Al Walker, the
oil and gas producer said on Tuesday.
The timing of the move by Hackett, who will remain as
executive chairman, came as a mild surprise to company watchers,
By Matt Daily
(Reuters) – A steep decline in solar panel prices is helping solar installers attract new capital, a trend likely to trigger consolidation in the fragmented industry and drive down the cost of putting the renewable energy system on rooftops.
Panel makers such as Suntech Power Holding, SunPower Corp and Yingli Green Energy suffered from a glut of supplies that pushed prices for solar panels down 50 percent last year, sending their share prices crashing.
(Reuters) – Chesapeake Energy Corp (CHK.N: Quote, Profile, Research, Stock Buzz) said it will sell $10 billion to $12 billion in assets as decade-low natural gas prices force the company to raise cash to cover a shortfall.
The second-largest U.S. natural gas producer has a strategy to increase output from more profitable wells that produce crude oil and natural gas that is rich in liquid content.
LAS VEGAS (Reuters) – The number of proposed solar projects in California last year was 4-1/2 times the level the state needs to meet its 33 percent renewable power target by 2020, a state regulator said on Tuesday.
California is the biggest U.S. solar market, although its share of the new project market has slipped from 80 percent in the middle of the last decade to about a third as other states, such as Arizona, Colorado and New Jersey have stepped up support for renewable energy.
By Matt Daily
(Reuters) – Chevron Corp reported lower quarterly earnings on Friday, missing Wall Street forecasts, as rising spending on oil and gas projects and losses at its U.S. refinery business offset gains from higher crude oil prices.
Oil and gas output at the No. 2 U.S. oil company also declined to 2.64 million barrels per day (BPD) from 2.79 million BPD a year-ago, although benchmark oil prices rose about 25 percent during the quarter.
Jan 27 (Reuters) – Eastman Chemical is buying
specialty chemical maker Solutia Inc for about $3.38
billion in cash and stock to extend its reach in emerging
markets, particularly the Asia-Pacific region.
The deal is valued at $27.65 a share based on Thursday’s
closing prices, a 42 percent premium for Solutia shareholders.
Shares of Solutia rose to $27.50 in trading before the market
By Matt Daily
(Reuters) – U.S. oil companies ConocoPhillips (COP.N: Quote, Profile, Research, Stock Buzz) and Occidental Petroleum (OXY.N: Quote, Profile, Research, Stock Buzz) posted higher quarterly profits that topped Wall Street forecasts, helped by rising oil prices.
Conoco, the third-largest U.S. oil company behind Exxon Mobil (XOM.N: Quote, Profile, Research, Stock Buzz) and Chevron Corp (CVX.N: Quote, Profile, Research, Stock Buzz), said prices for its oil rose by about a third from a year ago, offsetting declines in its production.
(Reuters) – Halliburton Co (HAL.N: Quote, Profile, Research, Stock Buzz) warned that its response to a deep slump in U.S. natural gas prices would cause near-term disruptions that will pinch first-quarter earnings, sending its shares down 3 percent.
The world’s second-largest oilfield services company posted a higher-than-expected fourth-quarter profit and gave a fairly upbeat outlook for 2012, but investors remain worried about what wider U.S. drilling trends will mean for the U.S. market leader.