Energy Sector

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.

California Gas Co Company to be Arraigned over Aliso Canyon Methane Leak

California Gas Co Company to be Arraigned over Aliso Canyon Methane Leak

Now that the month's long methane leak has been plugged at natural gas storage well in Los Angeles, the lawyers have now shifted their attention to litigation related to the environmental disaster which is being compared to the Gulf of Mexico oil spill in 2010.

On Wednesday, officials say, California Gas Co. is to be arraigned on criminal charges related to the massive methane leakage close to Los Angeles which forced 6,600 or more families to leave their homes from the Porter Ranch community.

Saudi Arabia and Russian Officials Scheduled to Meet on Tuesday to Discuss Production Cuts

Saudi Arabia and Russian Officials Scheduled to Meet on Tuesday to Discuss Produ

Tuesday is a big day for cooperation efforts being put in by the OPEC and non-OPEC oil producing countries as the energy ministers of Saudi Arabia and Russia meet in Qatar to discuss issues related to production cuts.

Venezuela’s Oil Minister says the Country is on ‘A Very Good Path’ for Oil Price Prop-Up Action

Venezuela’s Oil Minister says the Country is on ‘A Very Good Path’ for Oil Price

In seven years crude oil rose the most bouncing back from its lowest point in about ten years or more as equities also rallied.

Futures crude scaled twelve percent in New York and eleven percent in London. The equities market also got an upward push. The slide which the U.S. stocks faced for last five days, ended. Reportedly, United Arab Emirates Oil Minister Suhail Al Mazrouei said that oil producers are ready to work in coordination and will not make any reductions in production till there is total cooperation.

Southern California Gas Co. Announces Gas Leak has Been Sealed at Underground Storage Facility

Southern California Gas Co. Announces Gas Leak has Been Sealed at Underground St

On Thursday, the Southern California Gas Co. officials announced that they have controlled the leak at the underground natural gas storage facility, the largest of its kinds in the West that has been discharging noxious gases since October. The leak has driven out thousands of residents away from their Porter Ranch homes which is a neighborhood in Los Angeles. However, the under control leakage from the blown-out well, still needs to be permanently sealed with cement.

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