• Company: Settlement reached in lawsuit over Gulf oil leak

    Updated: Thu, Aug 27, 2015

    NEW ORLEANS (AP) — A New Orleans energy company said Thursday it has reached a settlement agreement with environmental groups in a lawsuit stemming from the company's failed efforts to stop a decade-old, slow-motion oil spill in the Gulf of Mexico. A federal court filing Thursday stated that an agreement had been reached between Taylor Energy Company and the environmental groups. Taylor said in a news release it has agreed under the settlement to make a $300,000 donation to a Louisiana marine research consortium and to fund $100,000 in research on the ecological effects of small, long term leaks in the Gulf. Taylor also said it will host a public forum and publish a website with information on the company's spill response.

  • St. Jude and Tiffany are big market movers

    Updated: Thu, Aug 27, 2015

    NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday on the New York Stock Exchange and the Nasdaq Stock Market: NYSE St. Jude Medical Inc., up $3.09 to $72.43 Abbott is preparing a takeover bid of up to $25 billion for the medical device maker, according to The Financial Times. Abbott denied the report. Tiffany & Co., down $1.79 to $83.29 The luxury jeweler reported worse-than-expected fiscal second-quarter profit and revenue and a weak full-year profit outlook. The J.M. Smucker Co., up $7.14 to $116.29 The food maker reported better-than-expected fiscal first-quarter profit and revenue and an upbeat full-year outlook. Guess' Inc., up 93 cents to $22.

  • Oil jumps 10 percent for biggest one-day gain since 2009

    Updated: Thu, Aug 27, 2015

    NEW YORK (AP) — Oil soared more than 10 percent Thursday, its biggest one-day gain since March 2009, lifted by resurgent global stock markets and a report showing the U.S. economy grew faster than previously reported in the second quarter. U.S. oil rose $3.96, or 10.3 percent, to $42.56 in New York. That is the biggest gain since March 12, 2009, when oil gained 11 percent. Brent crude rose 10.3 percent to $47.56 a barrel in London. Oil had fallen to a 6 ½ year low because of a global supply glut and worries about the health of China's economy. Analysts viewed Thursday's gain as a reaction to the rebound in China's main stock index, which rose the most in eight weeks, and don't see anything pointing to a long-term rally in

  • Environment groups: Settlement not final in oil leak lawsuit

    Updated: Thu, Aug 27, 2015

    NEW ORLEANS (AP) — The latest about a potential settlement of a lawsuit by environmental groups against a New Orleans company that failed to end a decade-old leak in the Gulf of Mexico (all times local) ___ 2:30 p.m. Environmental groups say they're pleased at the progress of talks with a New Orleans company that has failed to end a decade-old oil leak in the Gulf of Mexico, but it's too early to talk about potential settlements. Taylor Energy Co. said Thursday it has reached a settlement, and has agreed to spend $400,000 to foster coastal research, to host a public forum and to publish a website with information about the company's spill response.

  • US regulators, Millstone nuke plant settle dispute

    Updated: Thu, Aug 27, 2015

    WATERFORD, Conn. (AP) — The parent company of Connecticut's nuclear plant and federal regulators have reached a settlement over the plant operator's decision, without regulatory approval, to halt the use of a safety-related pump in the event of a severe accident. The Nuclear Regulatory Commission on Thursday cited a "willful violation" for changes by Dominion Resources Inc. without a license amendment at its Millstone Unit 2 plant in Waterford. Ken Holt, a Millstone spokesman, said Dominion does not agree that the violation was deliberate. "It's an item we could not find consensus on. We agreed to disagree," he said.

  • Supreme Court upholds deal on tribal gas stations

    Updated: Thu, Aug 27, 2015

    SPOKANE, Wash. (AP) — The state Supreme Court on Thursday unanimously upheld a lower court ruling in a long-running lawsuit by non-tribal gas station owners challenging gas tax compacts negotiated in the past decade between the state and Indian tribes. The Supreme Court ruled that non-Indian gas station owners failed to prove that the payments to the tribes, which total about $30 million a year, were not refunds for taxes paid on motor vehicle fuels. "We also find no unconstitutional delegation of legislative power," the court said in its 26-page opinion. Under the current system, tribes agreed to buy taxed fuel to sell in their gas stations and the state agreed to refund a portion of the fuel tax receipted to the tri

  • Retail gasoline prices in Texas fall 7 cents this week

    Updated: Thu, Aug 27, 2015

    COPPELL, Texas (AP) — Retail gasoline prices across Texas have fallen 7 cents this week to settle at $2.29 per gallon. AAA Texas on Thursday reported that compares to the nationwide average cost per gallon of $2.53, which is down 12 cents since last week. The association survey found Beaumont has the cheapest gasoline in Texas at $2.19 per gallon. Drivers in El Paso are paying the most statewide this week with an average $2.53 per gallon. Association experts say average U.S. gasoline prices are at their lowest levels, for this time of year, since 2004 due to the drop in the cost of crude oil.

  • South African prototype may solve solar power problem

    Updated: Thu, Aug 27, 2015

    JOHANNESBURG (AP) — By thinking small, a group of South African scientists may have pioneered solar technology that has stumped Internet giant Google. The Helio100 project, based at Stellenbosch University in the Western Cape province, is a cost-effective heliostat that harnesses solar power to generate electricity. A heliostat uses mirrors or lenses to reflect sunlight, concentrating the solar energy onto a receiver tower, which then uses centuries old steam power to generate electricity, explains Sebastian-James Bode, a 28-year-old research engineer working on the South African project. Until now, building heliostat plants has been prohibitively expensive.

  • Settlement reached in lawsuit over decade-old Gulf oil leak

    Updated: Thu, Aug 27, 2015

    NEW ORLEANS (AP) — Environmental groups and a New Orleans company that failed to end a decade-old oil leak in the Gulf of Mexico have reached a settlement agreement in a lawsuit over the slow-motion spill. Taylor Energy Company said Thursday it has agreed under the settlement to spend $400,000 to foster coastal research and will host a public forum and publish a website with information on the company's spill response. Environmental groups led by the Waterkeeper Alliance sued Taylor Energy in 2012, accusing it of withholding information about the leak's potential impact on the Gulf ecosystem.

  • Energy company announces settlement in lawsuit over decade-old oil leak in Gulf of Mexico

    Updated: Thu, Aug 27, 2015

    NEW ORLEANS (AP) — Energy company announces settlement in lawsuit over decade-old oil leak in Gulf of Mexico.

  • 3 contract workers injured after pipeline ruptures in Gulf

    Updated: Thu, Aug 27, 2015

    NEW ORLEANS (AP) — Three workers were injured after a natural gas pipeline ruptured in the Gulf of Mexico about 25 miles south of Marsh Island. Petty Officer Ryan Tippets said the rupture caused the pipeline to catch fire. He said the injured crew members were taken to a hospital in Houma. The Coast Guard says the fire has been extinguished. Tippets said the Coast Guard received notification of the rupture around 8:30 p.m. Wednesday. Joe Hollier, Manager of Corporate Communications for Boardwalk Pipeline Partners, said workers were performing maintenance on a 10-inch offshore line of Gulf South Pipeline when it ruptured. Hollier says the contract workers suffered minor injuries.

  • US stocks open higher after Chinese market surges

    Updated: Thu, Aug 27, 2015

    NEW YORK (AP) — U.S. stocks are opening higher after China's main stock index logged its biggest gain in eight weeks. A report also showed that the U.S. economy expanded at a much faster pace than previously estimated. The Dow Jones industrial average climbed 191 points, or 1.2 percent, as of 9:36 a.m. on Thursday. The Standard & Poor's 500 index gained 24 points, or 1.2 percent, to 1,964. The Nasdaq composite gained 63 points, or 1.4 percent, to 4,762. Signet Jewelers jumped 12 percent after reporting earnings that surpassed the expectations of Wall Street analysts. Bond prices fell, pushing up the yield on the 10-year note to 2.20 percent from 2.18 percent on Wednesday.

  • July mine impact inspections result in 225 citation

    Updated: Thu, Aug 27, 2015

    ARLINGTON, Va. (AP) — Federal inspectors issued 225 citations and six orders at U.S. mine operations in July. The Mine Safety and Health Administration says it conducted the inspections at 15 coal mines and six other mines. Inspectors issued 13 citations and two orders at Ulrich Gravel, Inc., Ulrich Pit, in Valley County, Nebraska. Violations included a lack of berms or guardrails on mine haulage roads adjacent to bodies of open water. A miner died in March two days after a loaded haul truck drifted from an elevated roadway into a dredge pond. MSHA says hazards found during the July inspection were similar to those identified following the March accident. The inspections began in 2010 after the Upper Big Branch

  • OIL AND GAS PRICES FOR AUG. 27

    Published: Thu, Aug 27, 2015

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Wednesday: Oklahoma Sweet: Sunoco Inc. — $35.25 Oklahoma Sour: Sunoco Inc. — $23.25 Oklahoma oil and gas drilling activity posted Aug. 12: COMPLETION Carter: Laws Operating Co. LLC; Hammer No. 1 Well; SW/4 SE/4 NW/4 NE/4 of 05-04S-01E; TD 650. Garfield: Sandridge Exploration & Production LLC; Liming 2408 No. 2-3H Well; SW/4 SW/4 SE/4 SW/4 (SL) of 03-24N-08W; 98 barrels oil per day, 473,000 cu-ft gas per day; TD 10,599. Sandridge Exploration & Production LLC; Sonya 2407 No. 1-19H Well; NW/4 NE/4 NE/4 NE/4 (SL) of 19-24N-07W; 101 barrels oil per day, 831,000 cu-ft gas per day; TD 13,000. Sandridge Exploration &

  • Asian stocks rise after Wall Street rebound

    Updated: Wed, Aug 26, 2015

    BEIJING (AP) — Asian stocks rose Thursday after Wall Street soared overnight, breaking a six-day string of losses. The recovery brought a measure of relief to many investors, although experts warned that more volatility could be ahead. The Shanghai Composite Index, whose sharp drop Monday triggered a global sell-off, rose 2.2 percent to 2,992.99 points, rebounding from several days' declines. Tokyo's Nikkei 225 was up 2 percent at 18,753 and Seoul's Kospi gained 1.1 percent to 1,915.70. The gains came after Wall Street rocketed up overnight. The Dow Jones industrial average soaring more than 600 points, or 4 percent. That was its third-biggest point gain of all time and its largest since Oct. 28, 2008. Hong Kong's Han

  • Ecuador's president says country now producing oil at a loss

    Updated: Wed, Aug 26, 2015

    QUITO, Ecuador (AP) — Ecuadoreans are already contending with a rumbling, ash-spewing volcano and rising living costs because they use the appreciating U.S. dollar as their currency. Now they've been told that Ecuador's oil — its principal export and a vital source of government funding — costs more to produce than it earns. President Rafael Correa explained on Tuesday, during a visit to areas threatened by the Cotopaxi volcano, that it costs the OPEC nation $39 to produce a barrel of oil for which it only receives $30. If crude prices remain below $40 that could mean more budget cuts or higher taxes.

  • Nevada regulators vote to keep existing rooftop solar rates

    Updated: Wed, Aug 26, 2015

    CARSON CITY, Nev. (AP) — Nevada regulators decided Wednesday to keep existing rates in place for rooftop solar customers for a few more months even though the state hit a cap on how much energy can be sold back to a utility company. The Public Utilities Commission voted to maintain current rates and rules before permanent ones must be adopted by the end of the year. Rooftop solar advocates, who have decried the cap and argued that utility company NV Energy is trying to kill their industry by restructuring rates, said they were grateful. "The hard work is now before the commissioners to issue long-term rules," said Bryan Miller, co-chairman of The Alliance for Solar Choice, an advocacy group representing rooftop solar compan

  • ND regulator: Industry unlikely to meet flaring target

    Updated: Wed, Aug 26, 2015

    BISMARCK, N.D. (AP) — North Dakota's oil industry likely won't meet a Jan. 1 target set by new self-imposed rules that require reducing the amount of natural gas burned off as a byproduct of oil production, the state's top energy regulator said Wednesday. Problems with federal permits, land access permission for planned pipelines, stalled processing plants and increased natural gas production will make reaching new capturing goals "essentially impossible," state Mineral Resources Director Lynn Helms told North Dakota's Industrial Commission, which regulates the oil and gas industry. The three-member panel headed by Gov. Jack Dalrymple adopted the rules last year to reduce flaring to 90 percent in incremental steps through 2

  • Ruling brings uncertainty to seekers of eagle 'take' permits

    Updated: Wed, Aug 26, 2015

    CHEYENNE, Wyo. (AP) — A federal court has cast uncertainty over plans by a major wind farm developer and others by striking down a 30-year government permit for eagle deaths caused by industrial facilities. The U.S. Fish and Wildlife Service said Wednesday it has received at least 14 applications for 30-year eagle "take" permits since the agency instituted the permit early last year. Earlier this month, a federal judge in San Jose, California, ruled that Fish and Wildlife failed to follow federal law when it extended the maximum permit duration from five to 30 years. Those seeking the 30-year permit include the Power Company of Wyoming, which plans to build an up to 1,000-turbine wind farm south of Rawlins.

  • Entergy utilities in La. to be merged, after PSC approval

    Updated: Wed, Aug 26, 2015

    BATON ROUGE, La. (AP) — Louisiana utility regulators have agreed to merge two Entergy units in the state into one company that will provide electricity to more than 1 million customers. The Public Service Commission voted 4-1 Wednesday for the consolidation of Entergy Louisiana and Entergy Gulf States Louisiana. The single utility company, with over $16 billion in assets, will be called Entergy Louisiana when the merger takes effect in October. Phillip May, president of the two Entergy companies to be merged, says the combined utility will save customers at least $107 million over nine years. That's estimated to be $11 in savings for an average customer over the first year.




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