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Tag: energy

News Regulators 

Euro zone core inflation edges higher in Jan

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“European Central Bank policymakers took a gloomy view of the euro zone economy at their last policy meeting and asked for swift preparations for giving banks more long-term loans, minutes of the meeting showed” reports businessinsider.com. People walk through Mall of Berlin shopping centre during its opening night in Berlin Thomson Reuters By Jan Strupczewski BRUSSELS (Reuters) – Euro zone headline consumer inflation slowed slightly in January because of a sharp deceleration of energy price growth, but core inflation watched closely by the European Central Bank in policy decisions edged…

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Regulator bans energy supplier Solarplicity from taking on new customers 

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“Small energy supplier Solarplicity has been banned from taking on new customers by the industry regulator due to poor customer service” writes Jon Yeomans for telegraph.co.uk. It has also been prevented from increasing vulnerable customers’ direct debits. Mary Starks of Ofgem said: “Solarplicity must get its house in order and provide a level of service that its customers expect. “If not, Ofgem will take the necessary steps to ensure customers are further protected and will take the relevant action needed to do this, which may result in its licence… Source: telegraph.co.uk

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News Oil 

The U.S. is on a solid trajectory to retain the title of the world’s largest oil producer well into next year’s presidential election season, the Energy Department said on Thursday.

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“Gulf oil production is projected to increase to an average of 2.3 million barrels per day in 2020” reports washingtonexaminer.com. The U.S. is on a solid trajectory to retain the title of the world’s largest oil producer well into next year’s presidential election season, the Energy Department said on Thursday.But significant offshore oil production is also expected to come online in the Gulf of Mexico.The gains in oil production will come primarily from the oil drilling taking place in the Permian shale region of Texas and New Mexico, according to…

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Local food processors land $19M in state grants

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“The grants were made through the Food Production Investment Program, and are meant to reduce energy use and greenhouse gas emissions” reports thebusinessjournal.com. The commission considered the following projects at its business meeting Thursday morning: — $2.01 million grant to install and operate an electric drying system at a dehydrated food manufacturing facility in Firebaugh, replacing a natural-gas-fueled system used for onion drying. — $3.57 million to design, install and operate a high-temperature solar thermal energy system at the Lemoore tomato processing facility. — $3 million to design, install and operate…

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News Oil 

How Trump’s crackdown on Venezuela could start to bite at home

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“More than half of US refinery capacity is “complex,” meaning it requires at least some heavy crude oil to operate properly” writes The Conversation for businessinsider.com. Even before the sanctions against Petróleos de Venezuela, the state-owned company known as PDVSA, its crude production was rapidly declining.They can compete, however, because they use crude from sources like Venezuela that costs less than most crude oil. Source: businessinsider.com

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CryptoSolarTech to Initiate ICO Refunds Worth $68 Million

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“The mining firm was aimed to set up cryptocurrency mining facilities in Southern Spain” writes Arnab Shome for financemagnates.com. Last October, the company partnered with Chinese energy company Risen Energy to develop 300 megawatts (MW) of photovoltaic power capacity.Despite struggling to get a building permit, the solar-based mining company was active to expand its business.The Spain-based company also joined hands with Bitcoin mining manufacturer Bitfury last month to jointly start mining facilities in Paraguay.The Spanish crypto mining startup has decided to return $68 million raised during its initial coin offering…

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Conservatives battle over climate cooperators and bomb throwers

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“Observers familiar with the process say McCarthy is taking a middle-ground approach to choosing climate committee members” reports washingtonexaminer.com. Greg Walden of Oregon, the committee’s ranking member, Fred Upton of Michigan, and John Shimkus of Illinois, in an op-ed published Feb. 13 in RealClearPolicy.Republicans and conservatives are clashing over which House Republicans should be appointed to Speaker Nancy Pelosi’s, D-Calif., new climate change committee, a decision Minority Leader Kevin McCarthy, R-Calif., is expected to announce as soon as next week.According to the House rules package establishing the committee, McCarthy is…

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News Oil 

Rick Perry taps Texas oil chief and nuclear submariner as top advisers

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“The company produces half of its oil in the Permian Basin in Texas and New Mexico, a region of the country that has helped make the U.S. the largest oil producer in the world” reports washingtonexaminer.com. Energy Secretary Rick Perry on Wednesday picked the CEO of one of the largest oil companies operating in his home state of Texas to lead a special advisory committee meant to provide energy advice for him.Producing and exporting more oil and natural gas worldwide is a key part of Trump’s energy dominance agenda, which…

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Spanish Mining Startup to Return $68 Million Raised During ICO

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“Spanish cryptocurrency mining startup CryptoSolarTech will return $68 million raised during its initial coin offering (ICO)” writes Ana Berman for cointelegraph.com. Last month, blockchain tech firm and Bitcoin mining manufacturer Bitfury revealed its plans to launch several mining facilities in Paraguay.The mining project raised around $68 million in less than two months during the summer of 2018, which was over 6,500 percent of the minimum investment of 900,000 euros. Source: cointelegraph.com

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News Oil Stocks 

Buffett’s Suncor bet to revive investor interest in Canadian energy

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“Some investors are betting that a change in government in Alberta after a spring election could benefit the oil industry” reports businessinsider.com. FILE PHOTO: A Suncor refinery is seen in Sherwood Park Thomson Reuters By John Tilak and Fergal Smith TORONTO (Reuters) – Berkshire Hathaway Inc’s re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said.While a bet on Suncor is not seen as a play on the entire industry, major Berkshire…

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