Matt's Feed
Jan 20, 2012

Schlumberger posts profit jump

By Matt Daily

(Reuters) – Schlumberger Ltd (SLB.N: Quote, Profile, Research, Stock Buzz), the world’s largest oilfield services company, reported a 36 percent rise in quarterly earnings, beating Wall Street forecasts, but it warned that Europe’s debt crisis could hurt economic growth and trim oil demand.

The International Energy Agency cut its oil demand forecast earlier this week, saying the possibility of a credit crunch in Europe could set off a recession that would cut energy consumption.

Jan 9, 2012

Energy execs see brisk U.S. deal flow in 2012: survey

By Matt Daily

(Reuters) – Energy executives expect dealmaking in the U.S. oil and gas sector to rise in 2012 or at least match last year’s brisk pace, according to a survey by consulting and advisory group BDO USA, LLC.

The boom in development of shale rock formations has spurred tens of billions of dollars in deals as energy producers seek to invest in the fields believed to hold massive quantities of oil, natural gas and natural gas liquids.

Jan 4, 2012

Corrected: Sinopec, Total pour $4.5 billion into U.S. shale

By Matt Daily and Anna Driver

(Reuters) – China’s Sinopec (600028.SS: Quote, Profile, Research, Stock Buzz) and France’s Total SA (TOTF.PA: Quote, Profile, Research, Stock Buzz) made major purchases in the U.S. energy sector on Tuesday, pouring $4.5 billion into deals to buy into booming production from shale rock formations.

The ventures showed that the global appetite for U.S. energy assets remained strong, with foreign oil and gas producers eager to invest in several of the mostly undeveloped fields that are believed to hold billions of cubic feet of natural gas and liquids.

Jan 3, 2012

Sinopec, Total pour $4.5 billion into U.S. shale

By Matt Daily and Anna Driver

(Reuters) – China’s Sinopec and France’s Total SA made major purchases into the U.S. energy sector on Tuesday, pouring $4.5 billion into deals to buy into booming production from shale rock formations.

The ventures showed that the global appetite for U.S. energy assets remained strong, with foreign oil and gas producers eager to invest in several of the mostly undeveloped fields that are believed to hold billions of cubic feet of natural gas and liquids.

Dec 23, 2011

Insight: More solar firms set to burn up as prices sink

By Matt Daily and Nichola Groom

(Reuters) – Only four years ago, hundreds of start-ups optimistically built factories and churned out solar panels to meet rising demand. Now, closures and failure loom for many.

The brutal shakeout is a dramatic reversal for an industry that has seen overall global growth of more than 30 percent annually over the past decade and this year will reach new records for solar panel sales.

Dec 23, 2011

More solar firms set to burn up as prices sink

Dec 23 (Reuters) – Only four years ago, hundreds of
start-ups optimistically built factories and churned out solar
panels to meet rising demand. Now, closures and failure loom for
many.

The brutal shakeout is a dramatic reversal for an industry
that has seen overall global growth of more than 30 percent
annually over the past decade and this year will reach new
records for solar panel sales.

Dec 20, 2011

Google, TransCanada set solar plant deals

By Matt Daily

(Reuters) – Google Inc and TransCanada Corp announced deals to buy solar power projects on Tuesday, just days after billionaire Warren Buffett made his second major purchase in the sector.

Prices for solar panels have fallen more than 40 percent this year, pushing the cost to install the renewable energy systems to their cheapest levels ever.

Dec 14, 2011

First Solar cuts 2011 forecast, sees weak 2012

By Matt Daily

(Reuters) – First Solar Inc cut its 2011 sales and profit forecast for the second time in two months Wednesday and said next year’s profits would fall below Wall Street’s view, sending its shares tumbling more than 20 percent.

The company, long the darling of the solar industry, has suffered amid the dramatic drop in the price of solar panels this year that has nearly erased profit margins across the sector.

Dec 7, 2011

MidAmerican Energy to buy First Solar’s plant

Dec 7 (Reuters) – Warren Buffett’s MidAmerican Energy Holdings said on Wednesday it would make its first move into solar energy with the purchase of First Solar’s Topaz Solar Farm power plant in California, one of the two largest in the world.

MidAmerican Energy, a part of Berkshire Hathaway, already operates wind power facilities, and its move into solar comes amid growing doubts about the solar industry’s ability to finance large utility-scale projects.

Dec 6, 2011

Solar companies to seek deep pockets in downturn

By Matt Daily and Nichola Groom

(Reuters) – Struggling solar manufacturers will likely be driven into mergers with rivals to survive a sector squeeze, a trend that could draw major Asian conglomerates deeper into the renewable energy sector.

Solar makers have seen their profit margins nearly erased this year as prices for renewable energy systems plummeted by about 40 percent and industry experts say many companies are too small to withstand the downturn on their own.

    • 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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