Repsol says it will be carbon neutral by 2050, becoming the first oil major to make a pledge of this kind

Spain-based Repsol said on Monday that it will be carbon neutral by 2050. The company said changes to its oil operations — including shifting the upstream focus to value creation rather than volume, and integrating renewable energy into its refining operations — as well as an increase in its alternative energy portfolio will help the company reach zero emissions. "We […]

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Oil prices lower but track toward weekly, monthly gains ahead of OPEC decision

Oil prices slipped Friday but are clinging to weekly gains and will end November with an advance, as the possible approval of a production cut extension at next week’s OPEC meeting and cautious optimism for a U.S.-China trade pact have underpinned bullish sentiment in the energy markets. Market conditions were thin as U.S. markets were closed Thursday for the Thanksgiving […]

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'Dean of Valuation' says Saudis got the Aramco valuation right, but he's still not buying

NYU Stern professor Aswath Damodaran, known as the "Dean of Valuation," valued Aramco at around $1.65 trillion, which is within "shouting distance" of the company's own $1.7 trillion valuation. On Sunday the world's largest oil company began its IPO roadshow. It's aiming to sell a 1.5% stake in the company, or about 3 billion shares. If it prices at the […]

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The Permian paradox: Texas shale players go green to drill more

HOUSTON/BENGALURU (Reuters) – As the thirst for electricity to power drilling rigs in West Texas drives the state’s energy needs to new highs, oil and gas companies are increasingly relying on wind and solar power to ensure that the shale boom continues. Oil and gas firms operating in the Permian shale basin in West Texas, the nation’s biggest, have been […]

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Tallgrass Energy CEO blames selling shareholders for stock drop

HOUSTON (Reuters) – The chief executive of Tallgrass Energy LP (TGE.N), under fire from investors over sales talks with private equity firm Blackstone (BX.N), on Wednesday defended management provisions in the deal and blamed selling shareholders for a 23% stock-price drop. In August, Blackstone Infrastructure Partners made a non-binding proposal to buy the shares in Tallgrass it does not already […]

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Coal giant Murray Energy seeks bankruptcy protection

Murray Energy CEO: Trump is doing wonderful things for coal Murray Energy CEO Robert Murray on how President Trump can help revitalize the coal industry. CHARLESTON, W.Va. (AP) — A major U.S. coal mining company is seeking bankruptcy protection, despite a flurry of regulatory breaks that its CEO pushed for — and received — from the Trump administration. Continue Reading […]

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Celebrities flee L.A. blaze while wine country wildfire threatens 80,000 structures

LOS ANGELES — A wildfire swept through the star-studded hills of Los Angeles on Monday, destroying several large homes and forcing LeBron James and thousands of others to flee. Meanwhile, a blaze in Northern California wine country exploded in size. The flames that roared up a steep hillside near the J. Paul Getty Museum in Los Angeles’ Brentwood section illustrated […]

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UBS, Simmons Energy pare bankers as shale M&A slows: sources

NEW YORK/HOUSTON (Reuters) – UBS Group AG and the energy arm of Piper Jaffray Companies have cut staff in their oil and gas investment banking teams, three people familiar with the matter said on Monday, as U.S. dealmaking continues to dry up. Mergers and acquisitions activity within the shale business is at its lowest level in a decade, excluding Occidental […]

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Energy Secretary Rick Perry tells Trump he plans to resign, sources say

Rick Perry announces plans to resign as energy secretary Axios reporter Caitlin Owens on Rick Perry’s plans to resign. Energy Secretary Rick Perry notified President Trump on Thursday that he intends to leave his job soon, two administration sources familiar with the matter said. Perry was traveling with the president to Texas when he shared the news aboard Air Force One. Speaking to […]

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