Trump Nominates Brouillette as New Energy Secretary
The U.S. Department of Energy said on Thursday that President Donald Trump had formally nominated Deputy Energy Secretary Dan Brouillette, a former vice president of Ford Motor Co and Louisiana state energy regulator, to head the department.If confirmed by the Senate, Brouillette will replace Rick Perry, who said last month he would step down by the end of the year.
Oil Higher as Stocks Rebound, Saudi Signals Intervention
Crude stockpiles rising at U.S. futures delivery point; Saudi Arabia says oil market could shift to oversupply in Q4.Oil prices rose 1 percent on Thursday, following the U.S. stock market higher a day after Wall Street's biggest drop since 2011 and as Saudi Arabia's energy minister signaled major producers…
BHP Chairman Calls $20 Bln Shale Investment a Mistake
BHP Billiton's Chairman Jac Nasser said on Thursday BHP's $20 billion investment in U.S. shale oil and gas six years ago was, in hindsight, a mistake. BHP entered the shale business at the height of the fracking boom in 2011 and invested billions more developing the operations. The fall in oil prices since then has led to pre-tax writedowns of about $13 billion on the business.
Trump Won't Seek to Roll Back CA Vehicle Rules
President Donald Trump will announce the U.S. Environmental Protection Agency will revive a review of the feasibility of strict fuel efficiency standards through 2025, but will not seek to withdraw California's authority to set its own vehicle rules, a White House official said late on Tuesday. Reuters reported…
Trump to Announce Emissions Rule Review
U.S. President Donald Trump is expected to visit the Detroit area on Wednesday to hold an event with the chief executives of U.S. automakers to announce a restart of a review of vehicle fuel efficiency rules sought by the industry, according to two sources briefed on the matter. Trump is expected to visit Ypsilanti…
Multinational Firms Flee Venezuela
Multinational companies are selling their Venezuelan operations at hefty discounts - or even giving them away - as they to seek to escape the OPEC nation's soaring inflation and chronic supply shortages. Six firms, including General Mills and oil producer Harvest Natural Resources, have sold operations for as little as half their assessed value on the companies' books…
Chinese Firms Active While Ven's Factories Remain Idle
Five years after Chinese home appliance maker Haier agreed to build a $912 million factory in Venezuela, its washing machines and refrigerators are almost the only ones available in the country's department stores. Those appliances, however, are not made in Venezuela. They are instead imported from Haier…
U.S. Biofuel Lobby Gains Momentum
In a long-running battle between oil refiners and the U.S. farm lobby over the future of ethanol fuel, biofuel producers may have just made a small, but important dent in big oil's formidable defenses. Over the past few months, privately held retailers Kum & Go and Sheetz have become the first significant chains to announce plans to start selling E15…
