Energy Sector

Buffett’s Berkshire Hathaway facing challenge from Sempra Energy for Oncor

Buffett’s Berkshire Hathaway facing challenge from Sempra Energy for Oncor

Board members of the bankrupt Energy Future Holdings will reportedly hold a meeting this Sunday to decide whether to sell its power transmission division Oncor to Warren Buffett’s Berkshire Hathaway Inc. or accept a competing bid from Sempra Energy.

Speaking on the condition of anonymity, a person familiar with the matter revealed that the board received an opposing bid for Oncor from Energy Future’s biggest creditor Paul Singer's hedge fund Elliott Management Corp last Friday.

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Berkshire Hathaway declines to raise its Oncor offer

Berkshire Hathaway declines to raise its Oncor offer

Warren Buffett-led Berkshire Hathaway’s energy division declared on Wednesday that it would not increase its offer price for Oncor Electric Delivery Company LLC.

Berkshire Hathaway Energy chairman Greg Abel and Berkshire Hathaway Inc. chairman Warren Buffett stressed yesterday that they stood “firm no” at their $9 billion offer for acquiring 80 per cent of Oncor and would not increase their offer.

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Paraguay’s Petropar get Ten Days Deadline to Pay Back Debt from Venezuelan Oil Company PDVSA

Paraguay’s Petropar get Ten Days Deadline to Pay Back Debt from Venezuelan Oil C

On Saturday, Petropar, the state-run oil firm of Paraguay said that Venezuelan state oil producer PDVSA has given the Paraguay company a deadline of ten days to pay back a debt of $287 million that dates back to 2009.

The demand follows the incident when last week Paraguay asked to arrange a meeting of foreign ministers of the regional South American bloc, the Mercosur trade group to scrutinize whether Venezuela failed to fulfill with democratic standards that is laid out in the charter of the organization.

Aliso Canyon Storage Facility Reports a New Oil and Gas Leak; Leaked Methane from Storage Facilities add to Global Warming

Aliso Canyon Storage Facility Reports a New Oil and Gas Leak; Leaked Methane fro

An extensive environmental study shows that the oil and gas industry is adding large amount of methane to the atmosphere. The odorless, colorless methane gas keeps seeping out of the storage wells at a large number of natural gas facilities in the United States.

Environmental Defense Fund, nonprofit organizations researchers used infrared cameras that scanned for methane leaks at more than 8,000 U.S locations.

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Solar Powered Flight, Solar Impulse 2 will Resume Its Round the World Journey from Hawaii

Solar Powered Flight, Solar Impulse 2 will Resume Its Round the World Journey fr

At a time when Hawaii is shifting its focus from fossil-fuel to a clean energy future, the Solar Impulse gears up to continue its journey from Hawaii to more mainland U.S destinations including for Phoenix, San Francisco, Los Angeles and then to Vancouver.

The Solar Impulse 2 team will resume their round the world solar-powered flight with technology partner ABB. The flight is set out to prove that renewables are an equally reliable power source and is cleaner.

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Canada to strengthen reviews for oil pipelines

Canada to strengthen reviews for oil pipelines

The authorities in Canada have said that they are planning to subject all existing oil sands pipeline proposals to tougher environmental assessments.

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Obama Administration announces proposal to lower Ethanol blending

Obama Administration announces proposal to lower Ethanol blending

In an announcement made on Friday, the Obama Administration has put forth a proposal for lowering the amount of renewable fuel, Ethanol, to be blended into the US gasoline supply from 2016 onwards. The proposal comes at the back of a court order which has stipulated a June 1 deadline for lower Ethanol blending.

The Environmental Protection Agency called the proposal as being ‘ambitious, but responsible’, one that very well balanced the fact that congressional forecasts were no longer realistic, with the Obama administration's commitment to grow renewable fuel use.

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Duke Energy to pay $102.2 million to resolve litigation charges by federal prosecutors

Duke Energy to pay $102.2 million to resolve litigation charges by federal prose

A lawsuit has been filed by federal prosecutors against Duke Energy for violating the federal Clean Water Act. The company was charged for spilling coal ash into the Dan River in North Carolina region.

However, the company said that it has agreed to settle a federal grand jury investigation, which found that the company made nine violations of the Clean Water Act.

Duke Energy will pay more than $102 .2 million in penalties out of which $68.2 million will be paid in fines and restitution and $34 million for community service and mitigation.

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Tuesday’s Negotiation between Shell and Union Leaders Made No Progress

Tuesday’s Negotiation between Shell and Union Leaders Made No Progress

Negotiations between Royal Dutch Shell Plc and union leaders made no progress on Tuesday, as both of them argued over a new wage contract for US refinery workers who have been on strike for three days.

The two camps have been at a standoff since the United Steelworkers union (USW) called walkouts early on Sunday for the first time since 1980.

Shell reopened communications with the union on Late Monday. Since the first bargaining on January 21, the union has rejected five offers from Shell.

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Largest Strike by US oil workers enters second day

Largest Strike by US oil workers enters second day

A strike, largest since 1980 launched by oil workers at nine refineries entered a second day Monday.

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