Tag: energy

Japan business lobby says Abe government can’t rely on nuclear energy

TOKYO (Reuters) – Japan’s use of nuclear power is unlikely to meet a government target of returning to near pre-Fukushima levels and the world’s No.3 economy needs to get serious about boosting renewables, a senior executive at a top business lobby said.

Police officers and security personnel stand guard at an entrance of Kyushu Electric Power’s Sendai nuclear power station, during a protest demanding for the stop of the plant’s restart, in Satsumasendai, Kagoshima prefecture, Japan August 9, 2015. REUTERS/Issei Kato/File Photo

Under Prime Minister Shinzo Abe’s energy policies, nuclear is supposed to supply a fifth of energy generation by 2030, but Teruo Asada, vice chairman of the Japan Association of Corporate Executives, said Japan was unlikely to get anywhere near this.

The influential business lobby has issued a proposal urging Tokyo to remove hurdles for renewable power amid the shaky outlook for nuclear power

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3 Incredibly Cheap Energy Stocks

The efforts to contain COVID-19 have resulted in a massive supply/demand imbalance in the energy sector, leaving oil trading at a very low level. Investors have fled the sector, which creates a potential opening for long-term investors looking for cheap stocks. Here are three worth deep dives today: Enbridge (NYSE: ENB), Enterprise Products Partners (NYSE: EPD), and Magellan Midstream Partners (NYSE: MMP).

1. North of the border

Hailing from Canada, Enbridge’s massive collection of oil logistics infrastructure (about 50% of adjusted EBITDA) and natural gas (30%) assets spans North America. It also owns a natural gas utility business and renewable power facilities (effectively the rest of adjusted EBITDA). The company estimates that 98% of its top line is fee-based or regulated, providing material consistency to its business. Meanwhile, the diversified portfolio is expected to offer multiple growth options in the future, with Enbridge expecting distributable cash flow

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NJBPU approves PSE&G’s $1B Clean Energy Future proposal

The New Jersey Board of Public Utilities approved PSE&G’s Clean Energy Future proposal Wednesday, clearing the way for the state’s largest utility to commit $1 billion toward energy efficiency investments over the next three years.

PSE&G said in an announcement on the investment’s approval that it’s expected to provide environmental benefits and reduce customer bills while creating jobs and boosting New Jersey’s economy.

PSE&G’s Clean Energy Future proposal aligns with Gov. Phil Murphy’s commitment to clean energy.

“Today’s decision will allow us to bring the benefits of energy efficiency to every customer and give them options to reduce their energy use, save money and shrink their carbon footprint,” said PSEG Chairman, President and Chief Executive Officer Ralph Izzo in a prepared statement. “New Jersey now has the opportunity to be at the forefront of clean energy policy and be a role model for the nation.”

The $1 billion plan includes

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Forecast Business Analysis with COVID-19 impact on the Global Internet of Things (IoT) in Energy Market

The MarketWatch News Department was not involved in the creation of this content.

Sep 22, 2020 (PRNews Times via COMTEX) —
The outbreak of COVID-19 has positively impacted the global internet of things (IoT) in energy market. The sustainability of this market is mainly driven by the extensively increasing cyberattacks. Furthermore, the majority of government authorities across the world, are focussing on the implementation of supportive policies that may drive the global market. For instance, in June 2020, the Andhra government set to install IoT devices in medium & small-scale industries (MSMEs) for the energy saving, amid COVID-19 pandemic. This initiative would help to save around 11,000 units per cluster annually.

In addition, due to the critical situation of the COVID-19 pandemic, businesses are more concerned with customer confidence, optimism, and loyalty. Therefore, numerous organizations can go for the adoption of the Internet of Things (IoT) in Energy; and this

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Energy tech development for US, NM aim of Sandia and PNM partnership

IMAGE

IMAGE: Sandia National Laboratories engineer Matthew Reno examines panels at the Distributed Energy Technologies Laboratory, one of the many facilities that could be used for energy research as part of an…
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Credit: Photo by Randy Montoya, Sandia National Laboratories

ALBUQUERQUE, N.M. — Sandia National Laboratories and New Mexico’s largest electricity provider, PNM, have teamed up to bring energy resiliency, security and stability to the state and country.

“The partnership with PNM will address energy challenges not just in New Mexico but across the United States,” Sandia Labs Director James Peery said. “This agreement provides a pathway for Sandia’s advanced technologies to be put to the test in a real-world system, while advancing the goals of electric power system resiliency and safety that are critical to national security.”

The labs and PNM have signed a Cooperative Research and Development Agreement to collaborate in the fields of energy storage, solar

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2 Cheap Energy Stocks to Watch Amid the Oil Price Recovery

After witnessing its worst fall in decades earlier this year, oil prices have recently resumed recovery. Oil recovered for four consecutive months by August, but it started September on a weak note. In the first week of September, U.S. WTI crude oil fell by 8% and extended these losses with another more than 5% drop in the second week. Nonetheless, it has risen by over 7% this week.

A consistent rise in oil prices could benefit many Canadian energy companies by boosting their top line and profitability. Let’s look at three cheap TSX stocks that I find attractive amid the ongoing oil recovery.

Canadian Natural Resources

Canadian Natural Resources (TSX:CNQ)(NYSE:CNQ) is a Calgary-based energy company. The company makes most of its revenue from oil sands mining, exploration, and production. In 2019, about 92% of its total revenue came from North America, while the remaining 8% was from its North Sea

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U.S. Department of Energy Provides Notice to Proceed to Fluor Team for Hanford Site Central Plateau Cleanup Contract


Fluor Corporation (NYSE: FLR) announced today that the U.S. Department of Energy (DOE) provided the joint venture between Amentum, Fluor and Atkins—Central Plateau Cleanup Company LLC—the notice to proceed on the Central Plateau Cleanup Contract at the Hanford Site near Richland, Washington. The Central Plateau Cleanup Contract is a master indefinite-delivery/indefinite-quantity (IDIQ) contract valued at $10 billion for a period of up to 10 years, including a transition period of at least 60 days.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200917005174/en/

Fluor team received DOE notice to proceed for the Hanford Site Central Plateau Cleanup contract. (Photo: Business Wire)


“This leadership team and the site’s talented workforce have what it takes to support DOE and to demonstrate the effectiveness of the new end state contract approach,” said Tom D’Agostino, president of Fluor’s Government Group. “Fluor began its 13-year tenure at Hanford in 1996 to

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Smaller Operators in Africa See That Energy Transition is ‘Good Business’ and to Use Their Position of Agility to Make the Right Changes Now

Participating in an online ADIPEC Energy Dialogue Webinar, Chikezie Nwosu, CEO of WalterSmith in Nigeria, a world class integrated energy solutions provider said that although the oil and gas industry has previously experienced similar shocks to supply and demand, the impact of the COVID-19 pandemic is being felt over a much shorter period and far more aggressively than before.

“The COVID-19 pandemic has clearly shown us that oil price is not in control of any oil and gas company or country, as even the largest oil-producing countries such as Saudi Arabia and Russia are ill-equipped to adjust to what we are experiencing today,” Nwosu explained. “The focus for companies now is to control their costs to ensure business continuity for when the oil prices eventually recover. This can be done by continuing with the structural costs changes that were made during the pandemic.”

However, Nwosu warns that bad

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ADIPEC: Smaller Operators in Africa See That Energy Transition is ‘Good Business’ and to Use Their Position of Agility to Make the Right Changes Now

ABU DHABI, UAE, Sept. 16, 2020 /PRNewswire/ — The oil and gas industry has been impacted severely due to the COVID-19 pandemic; however, with the industry now actively embracing the digital transition and moving to new grounds to sustain itself, business continuity amidst the current downturn has a pivotal role to play. 

Participating in an online ADIPEC Energy Dialogue Webinar, Chikezie Nwosu, CEO of WalterSmith in Nigeria, a world class integrated energy solutions provider said that although the oil and gas industry has previously experienced similar shocks to supply and demand, the impact of the COVID-19 pandemic is being felt over a much shorter period and far more aggressively than before.

“The COVID-19 pandemic has clearly shown us that oil price is not in control of any oil and gas company or country, as even the largest oil-producing countries such as Saudi Arabia and Russia are ill-equipped

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NGL Energy Partners LP Announces Quarterly Cash Distribution for Class B and Class C Preferred Units

Press release content from Business Wire. The AP news staff was not involved in its creation.

TULSA, Okla.–(BUSINESS WIRE)–Sep 15, 2020–

NGL Energy Partners LP (NYSE: NGL) announced today that the Board of Directors of its general partner declared a distribution for the quarter ending September 30, 2020 to be paid to the holders of the Partnership’s 9.00% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“Class B Preferred Units”) and the 9.625% Class C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (“Class C Preferred Units”) in accordance with the terms outlined in NGL’s partnership agreement. Each of the Class B Preferred Units quarterly distribution of $0.5625 per unit and the Class C Preferred Units quarterly distribution of $0.60156 per unit will be made on October 15, 2020 to holders of record at the close of trading on September 30, 2020.

About NGL Energy Partners

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