• DTE Energy opens solar facilities in 3 Michigan communities

    Updated: Thu, Feb 4, 2016

    ROMULUS, Mich. (AP) — DTE Energy Co. says it's completed new solar projects in the Detroit area and near Port Huron. The Detroit-based utility says it now has 26 utility-owned solar arrays in operation with enough generating capacity to power 2,400 homes. The three new projects became operational in late 2015 and early this year. They include the Greenwood Energy Center in St. Clair County, the Romulus Solar Array near Detroit Metropolitan Airport and a solar array in Wayne County's Brownstown Township. Since 2009, DTE says it has invested more than $67 million in solar energy. DTE has four more solar projects under development, including one in Ypsilanti, one in Warren and two in Lapeer. ___ Online:

  • Oil price drop pushes Shell profit down 44 percent

    Updated: Thu, Feb 4, 2016

    LONDON (AP) — Royal Dutch Shell said fourth-quarter earnings tumbled 44 percent as the collapse in oil prices took its toll on another global energy giant. Profit adjusted for changes in the value of inventories and one-time items dropped to $1.83 billion from $3.26 billion in the same period a year earlier, the Anglo-Dutch company said Thursday. The results came days after Shell sealed a $52.4 billion takeover of BG Group Plc, which will increase the company's proven reserves of oil and natural gas by 25 percent. While critics questioned the deal because of the plummeting price of oil, CEO Ben van Beurden promised it would rejuvenate Shell.

  • Nigerian state petroleum company lost $1.3 billion in 2015

    Updated: Thu, Feb 4, 2016

    LAGOS, Nigeria (AP) — Nigeria's state oil company lost 267 billion naira ($1.3 billion) in 2015, even as it tried to pump more oil to counter slashed world prices, the Nigerian National Petroleum Corp. said Thursday. The corporation's monthly report posted at its website shows the biggest losses recorded at its headquarters, by three refineries and a subsidiary that sources and distributes refined products. Nigeria is Africa's biggest oil producer but imports most refined products because its refineries are inefficient. Petroleum production averaged 1.6 million barrels a day last year with swings from a million barrels a day in February to 2.5 million barrels a day in October.

  • Orders to US factories fell sharply in December

    Updated: Thu, Feb 4, 2016

    WASHINGTON (AP) — Orders to U.S. factories fell sharply in December, closing out a year in which demand for American manufactured goods retreated for the first time in six years. Factory orders dropped 2.9 percent in December, the fourth decline in the past five months, the Commerce Department reported Thursday. Orders were down 6.6 percent for the full year, marking the first annual fall since 2009, a year when the country was struggling to emerge from the Great Recession. The 2015 decline underscores the problems American manufacturers are facing from spreading global weakness and the rising strength of the dollar. The big December decline was led by a plunge in demand for commercial aircraft, a volatile category.

  • US stocks open lower, led by retailers

    Updated: Thu, Feb 4, 2016

    NEW YORK (AP) — U.S. stocks opened slightly lower as retail companies slipped. Energy stocks climbed early Thursday as the price of crude oil recovered. Murphy oil climbed 4 percent. GoPro tumbled 13 percent after the maker of wearable cameras issued disappointing results. The Dow Jones industrial average slipped 27 points, or 0.2 percent, to 16,312 as of 9:35 a.m. Eastern time. The Standard & Poor's 500 index lost six points, or 0.4 percent, to 1,905. The Nasdaq composite gave up 23 points, or 0.5 percent, to 4,479. Bond prices rose. The yield on the 10-year Treasury note fell to 1.87 percent.

  • Europe's top economic authorities warn of risks to growth

    Updated: Thu, Feb 4, 2016

    FRANKFURT, Germany (AP) — Europe's top economic authorities warned Thursday of the dangers to the region from the slowdown in China, weak inflation and heightened geopolitical uncertainties. Mario Draghi, the head of the European Central Bank, said it was imperative that policymakers act swiftly to deal with low inflation, while the European Union downgraded its growth forecast for the 19-country eurozone this year and warned of further reductions. All eyes are on the ECB ahead of its next policy meeting on March 10. There's a growing consensus in the markets that the bank will follow up last December's stimulus boost with a further package of measures to help nudge up eurozone inflation, which is way below target at an ann

  • Statoil reports larger 4th quarter loss after oil price drop

    Updated: Thu, Feb 4, 2016

    HELSINKI (AP) — Norwegian energy group Statoil posted a net loss of 9.2 billion kroner ($1.08 billion) for the fourth quarter amid the drop in oil prices. Norway's biggest oil company said Thursday the quarterly results "continue to be severely influenced by low prices," adding the loss was 3 percent larger than a year earlier. Revenue fell to 109.2 billion kroner from 147 billion kroner. CEO Eldar Saetre said the company was stepping up its cost-cutting program and reining in spending. Average daily production of oil and gas decreased 2 percent to 1.309 million barrels per day in the quarter.

  • Russian, Filipino seamen held hostage in Nigeria _ expert

    Updated: Thu, Feb 4, 2016

    LAGOS, Nigeria (AP) — A shipping security expert says the crew of an oil tanker hijacked in Nigerian waters is from Russia, Georgia and the Philippines and that they are probably being held hostage for ransom. Dirk Steffen of Denmark-based Risk Intelligence says claims that the Greek-owned MT Leon Dias was boarded by separatists espousing an independent state of Biafra in southeast Nigeria likely is a cover to lend legitimacy to a kidnapping for ransom. He says the hijackers abandoned the ship Sunday and took five hostages with them. They include the Filipino captain and third engineer, the chief engineer and electrician from Russia and a fitter from Georgia. Nigeria's navy said the ship is now off the coast of neighb

  • SandRidge Energy to cut costs, expand operations

    By Adam Wilmoth Energy Editor awilmoth@oklahoman.com | Published: Thu, Feb 4, 2016

    SandRidge Energy Inc. CEO James Bennett said prices are likely to remain subdued throughout much of 2016. He added, "We're trying to control the variables we can control."


    Published: Thu, Feb 4, 2016

    OIL AND GAS PRICES Oklahoma crude oil prices as of 5 p.m. Wednesday: Oklahoma Sweet: Sunoco Inc. — $28.75 Oklahoma Sour: Sunoco Inc. — $16.75 Oklahoma oil and gas drilling activity posted Jan. 22: COMPLETION Dewey: JMA Energy Co. LLC; Ommen No. 3-15H Well; SW1/4 SW1/4 SE1/4 SE1/4 (SL) of 10-16N-20W; 1,632,000 cu-ft gas per day, 85 barrels oil per day; TD 13,825. Grady: Marathon Oil Co.; Burton No. 2-11H Well; SE1/4 SW1/4 SW1/4 SW1/4 (SL) of 11-05N-06W; 5,230,000 cu-ft gas per day, 197 barrels oil per day; TD 20,850. Kingfisher: Newfield Exploration Mid-Con Inc.; Rodenburg No. 1H-6X Well; NW1/4 NE1/4 NE1/4 NE1/4 (BHL) of 06-15N-09W; 962 barrels oil per day, 3,605,000 cu-ft

  • Bills race into New Mexico Legislature, fight long odds

    Updated: Wed, Feb 3, 2016

    SANTA FE, N.M. (AP) — Lawmakers introduced a flurry of bills as the doors swung shut on new legislation at New Mexico's state capitol on Wednesday. The last-minute bills touched on topics from medical marijuana to county gasoline taxes. One Senate bill would cut state aid to local governments in an attempt to boost plunging state revenues linked to low crude oil prices. Most of the more than 650 bills and at least 40 proposed constitutional amendments introduced since the start of the session on Jan. 19 are doomed to failure. About 1 in 9 bills made it into law during New Mexico's last abbreviated budgetary session in 2014. The 30-day sessions are held in even-numbered years.

  • Asian stocks jump on Fed delay hope, Japan falls on yen

    Updated: Wed, Feb 3, 2016

    HONG KONG (AP) — Most Asian stocks jumped Thursday as oil prices bounced back and weak U.S. economic data fueled investor hopes that the Fed would slow the pace of rate hikes this year. Japanese shares fell as the yen rose against the dollar. KEEPING SCORE: Japan's Nikkei 225 lost 0.7 percent to 17,069.96 after the yen strengthened sharply against the dollar, hurting share prices of the country's export manufacturers. South Korea's Kospi added 1.1 percent to 1,911.88 and Hong Kong's Hang Seng advanced 1.7 percent to 19,307.61. The Shanghai Composite Index in mainland China climbed 1.4 percent to 2,777.79. Australia's S&P/ASX 200 rose 1.8 percent to 4,963.30. Markets in Southeast Asia rose.

  • SandRidge Energy 2016 job cuts total 440

    By Adam Wilmoth Energy Editor awilmoth@oklahoman.com | Updated: Wed, Feb 3, 2016

    SandRidge has cut 440 jobs since the first of the year. After Wednesday's layoffs, SandRidge has 717 employees, including 376 in Oklahoma City. The count is down from 1,157 companywide and 548 in Oklahoma City at the end of 2015.

  • Lawmaker seeks to dissolve California utilities regulator

    Updated: Wed, Feb 3, 2016

    SACRAMENTO, Calif. (AP) — A Southern California lawmaker said Wednesday that he will seek to bypass Gov. Jerry Brown and ask voters to break apart California's utilities regulator following allegations of wrongdoing. Assemblyman Mike Gatto, D-Glendale, said the California Public Utilities Commission as it is currently known would cease to exist in 2018 if voters approve his plan. The PUC has been a profound disappointment to residents and lawmakers in recent years, said Gatto, chairman of the Assembly Utilities and Commerce Committee.

  • NYC mayor wants to boost solar power capacity five-fold

    Updated: Wed, Feb 3, 2016

    NEW YORK (AP) — New York City Mayor Bill de Blasio wants to increase the solar power capacity of city-owned buildings five-fold. The push comes as part of a commitment to cut greenhouse gas emissions in the country's most populous city by 80 percent by 2050. Aides say de Blasio will announce his plans to bolster the city's solar power when he gives his State of the City address Thursday. As part of the new initiative, panels will be placed on 88 additional buildings, including 66 schools, the Queens Museum, Bellevue Hospital and the Abe Stark Ice Skating Rink on Coney Island. Currently, 35 city-owned buildings have solar installations, producing nearly 5 megawatts of power, up from 0.7 megawatts when de Blasio t

  • Rural broadband supporters call for change in Tennessee law

    Updated: Wed, Feb 3, 2016

    NASHVILLE, Tenn. (AP) — Rural lawmakers on Wednesday compared the dearth of broadband connections in their areas to being bypassed by electrification more than 80 years ago. At a news conference at the state Capitol, advocates called for the Legislature to pass legislation this year to allow municipal utilities that offer broadband service to their customers to also provide ultra-fast Internet outside of their service areas. The proposal has bogged down in recent years amid opposition from private Internet providers such as AT&T and Comcast, who argue that it's unfair for them to have to compete for customers against government-backed utilities.

  • The Latest: Suspected tornado damages Army post in Georgia

    Updated: Wed, Feb 3, 2016

    The Latest on the winter storm system affecting a broad swath of the Midwest and Southern U.S. (all times local): 6:30 p.m. A spokesman for Fort Stewart says a suspected tornado left a trail of damage inside the Army post in southeast Georgia. Spokesman Kevin Larson said a twister downed trees and damaged vehicles and some buildings Wednesday evening, though the extent of the damage was not immediately known. Larson said no injuries had been reported. The National Weather Service said there were reports of a tornado moving northeast at about 35 mph. Tornado warnings were issued for Chatham, Bryan and Effingham counties west of Savannah. Fort Stewart is the largest Army post east of the Mississippi River. Muc

  • Proposed ballot measure seeks more electricity competition

    Updated: Wed, Feb 3, 2016

    CARSON CITY, Nev. (AP) — A group is trying to get a proposal on the ballot that aims to bring more electricity providers to Nevada. The group called Nevadans for Affordable, Clean Energy Choices filed a petition with the Nevada Secretary of State's Office on Wednesday. The petition would have to clear any court challenges and supporters would need to gather more than 55,000 signatures to put it up for a vote in November. The measure would amend the constitution to prohibit a legalized monopoly for electric service, and requires the Legislature to enact laws that clear the way for an open electricity market by mid-2023.

  • Feds give Wyoming more time on coal mine bonding inquiries

    Updated: Wed, Feb 3, 2016

    CHEYENNE, Wyo. (AP) — Federal mining regulators have given Wyoming officials more time to explain why they have approved less-than-full bonding for two coal companies that have filed for bankruptcy. The Office of Surface Mining Reclamation and Enforcement originally gave the Wyoming Department of Environmental Quality 10 days to respond to notices the federal agency sent Jan. 21. On Monday, the federal agency extended its deadline to Feb. 22 for Arch Coal's bonding and until Feb. 12 for Alpha Natural Resources' bonding. Each company operates large open-pit mines in northeast Wyoming's Powder River Basin. Both companies have filed for Chapter 11 bankruptcy protection — Bristol, Virginia-based Alpha Natural Resources

  • Benin Navy guarding Greek tanker, hostages held in Nigeria

    Updated: Wed, Feb 3, 2016

    LAGOS, Nigeria (AP) — The navy of Benin is guarding an oil tanker hijacked by militants who are holding five crew members hostage in Nigeria, Nigeria's navy and a shipping security expert said Wednesday. The Liberian-flagged, Greek-owned MT Leon Dias is anchored off Cotonou, Benin's commercial capital, Nigerian navy spokesman Commodore Kabir Aliyu told The Associated Press. He gave no details about the crew and hijackers. The hijackers disembarked from the vessel on Sunday and took five hostages with them — the captain, chief engineer, third engineer, the electrician and a fitter, said Dirk Steffen, maritime security director of Denmark-based Risk Intelligence. The ship then sailed to Cotonou, he told the AP.