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Author Archives: Zach Koppang

Sen. King wants vigilance about cyber threats to energy grid

PORTLAND, Maine (AP) — Maine Sen. Angus King is calling for the Senate to protect the country’s critical energy infrastructure from the possibility of cyber attacks. King, an Independent, has introduced the Securing Energy Infrastructure Act of 2016, which he says would protect the electrical grid from these kinds of attacks. The legislation would explore methods of replacing computer-based technologies ...

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BP, Aker form joint offshore oil venture in Norway

STAVANGER, Norway (AP) — Norwegian holding company Aker ASA and London-based BP say they have reached a deal to combine their offshore oil and gas assets in Norway. The new joint venture, Aker BP, will merge oil company Det norske oljeselskap, in which Aker is the biggest owner, and BP’s Norwegian unit. Aker will own a 40 percent stake and ...

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Militants claim blast of another Nigeria oil pipeline

WARRI, Nigeria (AP) — Nigerian militants say they have blown up another crude pipeline owned by Italian oil company Agip. The Niger Delta Avengers announced the early-morning blast in Bayelsa state in a tweet Friday. The latest blast comes a few days after the militants rejected the government’s offer of peace talks. Nigeria’s government had ordered the military to halt ...

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Northwest tribal leaders highlight risks of oil trains

MOSIER, Ore. (AP) — Leaders of several Pacific Northwest tribes gathered Thursday near the site of last week’s fiery oil train wreck in Oregon to condemn the shipping of fossil fuels through the Columbia River Gorge, a scenic homeland and sacred fishing ground for the Yakama Nation and others over the millennia. “We do not want fossil fuels at all ...

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Work on Dakota Access begins in Iowa, protesters vow nonviolent acts

DES MOINES, Iowa (AP) — Work has begun in Iowa on an oil pipeline despite repeated attempts by landowners and environmental groups to stop it, a spokeswoman for the Texas company building the pipeline said Thursday. The Iowa Utilities Board signed a final order Wednesday allowing construction on the $3.8 billion, 1,150-mile pipeline that spans four states, and work began ...

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US stocks tumble as banks and tech stocks fall

NEW YORK (AP) — U.S. stocks are skidding Friday morning and returning more of their gains from earlier in the week. Banks are falling again as bond yields continue to plunge, and energy companies are slipping with the price of oil. KEEPING SCORE: The Dow Jones industrial average sank 144 points, or 0.8 percent, to 17,841 as of 10:12 a.m. ...

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Oil slump brings bargains, buyers to Bakken assets

As the oil price slump continues, investors are hunting for bargains on the hope they will eventually profit from the nation’s second largest oil play, reports the Wall Street Journal (WSJ). According to state data, hundreds of wells have been bought and sold in recent months. Those placing bets on long term profitability in the Bakken range from major O&G ...

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Mexico gets first non-Pemex gas station in almost 8 decades

MEXICO CITY (AP) — Mexico’s ubiquitous Pemex gas stations now have competition along the country’s highways and city streets for the first time in nearly eight decades. Two companies have collectively opened three gas stations under their own brands, breaking one of the state-owned petroleum company’s last monopolies. Opening the retail sector to competition was part of energy reforms passed ...

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US stocks rise as weaker dollar lifts machinery companies

NEW YORK (AP) — Stocks are rising Wednesday morning as machinery and chemicals companies get a boost from the weaker dollar. Energy companies are edging higher as the price of oil continues to rise. Payment terminal maker VeriFone is tumbling after cutting its expectations and saying it will eliminate jobs. KEEPING SCORE: The Dow Jones industrial average edged up 45 ...

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Shell to cut more costs as a result of merger with BG Group

LONDON (AP) — Energy company Royal Dutch Shell will cut more costs, more quickly than previously planned, as a result of its merger with BG Group Plc this year. The Anglo Dutch company made the announcement Tuesday as it tried to assure investors that it could handle the debt that came with its $54 billion takeover. Critics have questioned the ...

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