Energy News

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  • PGE, developers settle dispute that imperiled community solar program
    by Pete Danko on May 29, 2020 at 10:17 pm

    Utility will give contracted projects a limited opportunity to move into the program.

  • Pacific Ethanol CEO Koehler to retire
    by Mark Anderson on May 29, 2020 at 10:06 pm

    The CEO of renewable fuel company Pacific Ethanol Inc. announced he will retire at the end of September from the Sacramento region’s largest publicly traded company. Pacific Ethanol (Nasdaq: PEIX) also announced that it successfully deferred a $2.5 million interest payment due at the end of May for another three weeks, and that it's increasing its alcohol production for hand sanitizer, which is a profitable business at a time when fuel ethanol is not. CEO Neil Koehler's retirement comes after…

  • Where Albemarle Corp. will focus efforts as it puts off reopening Kings Mountain mine
    by John Downey on May 29, 2020 at 7:56 pm

    Lithium sales for electric vehicle batteries currently account for about 30% of Albemarle Corp.'s $3.5 billion in annual sales. But Albemarle sees that as its fastest-growing segment and is building its current expansion plans on lithium production.

  • Energy cos. donate millions to Covid-19 relief, including contributions to Houston Methodist
    by Sara Samora on May 29, 2020 at 7:48 pm

    Two energy companies, Houston- and New Jersey-based NRG Energy Inc. (NYSE: NRG) and Houston-based Aramco Americas, have each committed over $2 million to Covid-19 relief efforts. Combined, $630,000 of the funds went toward Houston Methodist, according to recent announcements. Houston-based Reliant Energy, part of NRG, made a $100,000 donation to Houston Methodist to establish the "Reliant Innovation Fund." The innovation fund will go toward students enrolled in Texas A&M University's Engineering…

  • Oxy faces lawsuit, slashes dividend once again
    by Joshua Mann on May 29, 2020 at 7:24 pm

    The company has to contend with a class action lawsuit out of New York.

  • Supreme Court rejects Valero's challenge to biofuel mandate
    by Jessica Corso on May 29, 2020 at 7:06 pm

    The U.S. Supreme Court declined to hear a dispute between oil refiner Valero Energy Corp. and the U.S. Environmental Protection Agency over who should be responsible for blending biofuel into gasoline. San Antonio-based Valero (NYSE: VLO), alongside industry group American Fuel and Petrochemical Manufacturers, filed a petition with the Supreme Court in December 2019, asking it to weigh in on a long-running dispute between refiners, fuel importers and the EPA. The Supreme Court declined the case…

  • These were Houston's top trade partner countries in 2019
    by Chris Mathews on May 29, 2020 at 6:56 pm

    Trade through the Houston-Galveston Customs District to our top international partners is vital for the region's economy, according to the Greater Houston Partnership's 2020 Global Houston report, released May 27. The Houston-Galveston Customs District encompasses seven ports: Houston, Corpus Christi, Freeport, Galveston, Port Lavaca, Texas City and George Bush Intercontinental Airport. The Port of Houston handled more import and export tonnage than any other port in the nation, the report said.…

  • Coronavirus-related cutbacks at Tesla's factory in Buffalo but hope for future
    by Dan Miner on May 29, 2020 at 6:12 pm

    A new report filed with Empire State Development Corp. shows that Tesla's factory in Buffalo is coming back on line.

  • ConocoPhillips closes nearly $1.4B asset deal
    by Olivia Pulsinelli on May 29, 2020 at 5:16 pm

    Houston-based ConocoPhillips (NYSE: COP) has completed the sale of its Australia-West assets and operations to Australia-based oil and gas producer Santos. The $1.39 billion purchase price didn't change, but the payments were restructured, according to a press release. As such, $200 million is due to ConocoPhillips when a final investment decision is made on the proposed Barossa development project. After customary closing adjustments, ConocoPhillips has received net cash proceeds of $765 million,…

  • Exclusive: Houston specialty refiner awards $255M contract to build first facility
    by Joshua Mann on May 29, 2020 at 2:34 pm

    The company hasn't yet selected the project site.