Abengoa Bioenergy said in documents filed in bankruptcy court in St. Louis that it has between 200 and 999 creditors, assets of between $1 billion and $10 billion, and liabilities of between $1 billion and $10 billion.
The nat gas market is flourishing, U.S. Secretary of Energy Ernest Moniz told CNBC on Wednesday.
As corporate profit reports rolled in this winter from the gasoline refining industry, the case for gas price gouging grew steadily stronger.
Oilfield bankruptcies of companies large and small have been surging as prices remain at their lowest levels in a decade or more. But it’s not the only way a worker can be left underpaid. An Inside Energy analysis shows a growing number of oil workers are turning to the courts, saying they weren’t paid fairly even when times were good.
Based on estimates in the most recent Short-Term Energy Outlook (STEO), vehicle travel in the United States in 2015 was almost 4% above its 2007 level, but motor gasoline consumption has not exceeded its previous peak in 2007. Improvements in light-duty vehicle fuel economy are largely responsible for this outcome.
Ali Al-Naimi, Saudi Arabia minister of petroleum and mineral resources, remains “optimistic” that the world oil market will rebalance supply with demand, and therefore see higher oil prices return.
OPEC and U.S. shale may need a relationship counselor. After first ignoring it, later worrying about it and ultimately launching a price war against it, OPEC has now concluded it doesn’t know how to coexist with the U.S. shale oil industry.
Is a planned $1 billion electric-car factory in suburban Las Vegas the savior for an economically ravaged community — or just a desert mirage?
The Saudis may go public, OPEC’s in disarray, the U.S. is suddenly a global exporter, and shale drillers are seeking lifelines from investors as banks abandon them. Welcome to oil’s new world order, full of stresses, strains and fractures.
Americans love their big cars so much, they’ll have no choice but to go electric, experts say.
