Energy Sector

Cabot Oil & Gas Co has to Pay $4.2 Million in Damages to Pennsylvania Families in Fracking Lawsuit

Cabot Oil & Gas Co has to Pay $4.2 Million in Damages to Pennsylvania Families i

On Thursday, in a ruling a federal jury said that Cabot Oil & Gas Co will pay approximately $4.25 million in damages to two couples and their children in northeastern Pennsylvania. The plaintiffs alleged that fracking operations conducted by the company contaminated their ground water.

Brent Oil Future Slipped a Little on Tuesday but Held Over $40

Brent Oil Future Slipped a Little on Tuesday but Held Over $40

In the previous session, gaining the highest level of 2016, Brent crude oil prices dropped on Tuesday. However, it continued to remain above $40 a barrel as more number of producers announced discussion to support the market with investors betting that oil price will rise further.

On Tuesday, the International benchmark Brent crude futures defended $40 per barrel during the early trading hours at $40.51around
0154 GMT. It was 33 cents below the previous settlement.

Gasoline Prices Continue to Climb across California

Gasoline Prices Continue to Climb across California

Keeping with the trends that the experts had predicted, gasoline prices are rising across California.

On Monday, the average retail gasoline prices in San Bernardino County climbed 4.5 cents a gallon compared to last week touching an average of $2.41 a gallon. According to GasBuddy. com, the national average has gone up 3.7 cents a gallon last week to $1.74.

Scientists say Aliso Canyon Methane leak was the Biggest in the History of United States

Scientists say Aliso Canyon Methane leak was the Biggest in the History of Unite

On Thursday, researchers reported that the methane leak which continued for months at the Aliso Canyon storage field was the largest known accidental natural gas release, in the history of the United States. The incident forced thousands of residents in the surrounding areas to leave their homes. According to the scientists, the massive methane release equals almost to the emissions from about 600,000 cars on a yearly basis.

NZ Refinery Reports one of the Best Profits Owing to Low Crude Prices and Increasing Demand

NZ Refinery Reports one of the Best Profits Owing to Low Crude Prices and Increa

New Zealand Refining reported one of the best profits in history on Wednesday, helped by weaker NZ dollar, elevated refining margins, drop in crude oil prices to its lowest in more than a decade at close to US $30 per barrel and strong plant reliability.

Refining New Zealand reported a 1400 percent profit boost compared to 2014, at $150.7 million. It owns the fuel refinery at Marsden Point.

Constitution Pipeline builders gets OK from a Federal Judge to Cut Maple Trees owned by Pennsylvania family for Gas Pipeline

Constitution Pipeline builders gets OK from a Federal Judge to Cut Maple Trees o

A court battle that was going on for some time between a family that owns a maple syrup business and a natural gas pipeline just ended with the Constitution Pipeline builders winning.

On Friday, a federal judge gave a green signal to the pipeline builders to cut down maple trees on approximately three acres owned by a Pennsylvania family. The decision will help in connecting the fracked gas from the shale fields of Susquehanna County with the consumer markets in New York and New England.

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