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  • Saudi Arabia Looks Beyond Oil (Spotlight)
  • Uniper Makes Its Debut to Capital Markets (Spotlight)
  • Major Oil Companies Report Losses (Oil and Gas)
  • Statoil Enters Offshore Wind Business (Renewables)
  • Xerox Prepares for Business Split (Smart Grid)
  • California Governor's GHG Execuive Order May Not Be Legal (Renewables)
  • Intel Changes Directions (Smart Grid)
  • Germany Revamps EV Policy (Smart Grid)
  • Coal Royalty Increase in Victoria (Oil and Gas)
  • Germany Hearings on Renewable Energy Act (Renewables)
  • EPA Revamps Regional Haze Rule (Renewables)
  • UK Releases Draft Fifth Carbon Budget (Spotlight)
  • Pipeline Safety Bill Cleared by House (Oil and Gas)
  • Symantec to Focus on Cyber Security (Smart Grid)

  • RECENT NEWS
  • SunEdison Files for Chapter 11 Bankruptcy - Industry fallout? (Spotlight)
  • VW-U.S. Reach Agreement on Emission Scandal Case: Read Full Details (Spotlight)
  • EC Sets out Path to Digitize Europen Industry (Spotlight)
  • EU Decisions Needed to Realize Fully Integrated Energy Market (Utility)
  • No Deal in Doha to Freeze Oil Production (Oil and Gas)
  • UK Treasury Lays Out Economic Benefits to UK of EU Membership (Smart Grid)
  • Intel Restructuring Initiative and Massive Layoffs (Spotlight)
  • Mitsubishi Admits to Manipulating Fuel Test Data (Smart Grid)
  • Read Publisher's Note for other Major Highlights
  • Editor's Choice Lists More Smart Energy News

 Much more news on the website

Publishers Note

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Vol.4, No.18, May 01, 2016

Houston Floods 5 2

The rain just isn’t letting up in Houston. Rainfall totals and flood stages of local creeks and reservoirs are shattering records.

For April through June, according to NOAA forecasts, the U.S. Spring Outlook favors above-average precipitation across western Alaska, and the southern half of the country including most of California, the Southwest, the Gulf Coast and the Southeast. Below-average precipitation is favored around the Great Lakes, parts of the Pacific Northwest, the southern Alaska Panhandle and Hawaii. Most of the country, except the Central and Southern Plains, is favored to see above-average temperatures from April through June.   Some of the news from the “week that was”- a busy week with oil company earnings flowing in (pardon the pun).

Lots more happening, you’ll need to catch up with the news headlines in the ‘Editor’s Choice’ as well as by reading “all about it.” Publisher's Note is where you start to get the smart energy fever!!

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Busy week for the oil industry: earnings reports, most companies reporting decrease in earnings and planning reduction in capex

Husky reports loss and said it is on target to add about 55,000 to 60,000 barrels per day (bbls/day) from low sustaining capital projects - Husky Energy Reports 1Q 2016 Results, Improves Operational Efficiency/ Oil and Gas /Feature

BP CEO Dudley: “Market fundamentals continue to suggest that the combination of demand and weak supply growth will move global oil markets closer into balance by the end of the year,” added Dudley - BP Profit and Capex Down in Q1 2016/Oil and Gas /Feature

Statoil” We have a firm plan to improve efficiency and make faster and deeper cost reductions. We are radically improving parameters we can control" - Decreased Q1 2016 Earnings for Statoil/ Oil and Gas /Feature

Total operating revenues for the first quarter of 2016 were $721 million as compared to $1.2 billion for the first quarter of 2015. Antero’s operating team has been focused on driving down costs which, combined with strong well performance, materially enhances capital efficiencies in the current commodity price environment - Antero Reports Loss, Plans to Increase Production / Oil and Gas /Feature

Whiting is increasing its production forecast to account for its new Williston Basin participation agreement. With the majority of completions scheduled for the second half of the year, the Company expects to realize the full production benefit in late 2016 and 2017. - Whiting Petroleum Plans To Increases Production /Oil and Gas /Feature

By utilizing larger LPG carriers, the Company expects to lower the cost of shipping to international markets, realizing better netback pricing for its propane. - Range Becomes The First North American Company To Export Ethane/Oil and gas /Feature

Progressing in promoting in 2016 significant volumes of new proved reserves - Eni To Reduce Capital Spending /Oil and Gas /Feature

Reduced dividend, further reduced 2016 capital expenditures guidance, raised low-cost debt and continued to improve cost structure - ConocoPhillips Reports Q1 Net Loss and Capital Expenditure/ Oil and Gas /Feature

The year-over-year decline in first-quarter earnings was largely attributable to weak crack spreads in the first quarter of 2016 - Marathon Petroleum Reports 1Q-2016 Earnings of $1 million/ Oil and Gas /Feature

CONSOL Energy reported a net loss from continuing operations of$50 millionfor the quarter  disclosed the sale of the Buchanan Mine. The total transaction value was approximately $460 million CONSOL used the cash proceeds to pay down its revolving debt in an effort to increase liquidity - CONSOL Net Loss in 1Q 2016/ Oil and Gas /Feature

Unaudited oil and gas sales revenue of the Company reached approximately RMB24.64 billion, representing a decrease of 30.7% YoY, mainly due to the sharp decrease in international oil prices - CNOOC Reports Q1 2016 Drop in Revenue/Oil and Gas / Feature

Net loss in the first quarter of 2016 was $51.2 million compared to net income of $40.3 million, in the first quarter of 2015 - Cabot Reports Net Loss In First Quarter Of 2016/ Oil and Gas / Feature

During the quarter, the industry faced another precipitous decline in activity, exceeding even the most pessimistic predictions, as E&P companies further cut spending in an effort to protect cash flows - Baker Hughes Reports Lower revenues Due to Global Drilling Slowdown /Oil and Gas /Feature

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