Year: 2020

Stocks Of Major Wind Turbine Makers Slump Amid Election Uncertainty

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Shares of major wind turbine manufacturers slumped on European markets on Wednesday as the U.S. presidential election—with the two candidates differing strongly on energy policy—continued to be too close to call as of 10 a.m. ET. The biggest manufacturers of wind turbines have a strong presence on the U.S. wind market, which has been rapidly growing in recent years. U.S. President Donald Trump’s energy agenda continues to be pro-oil and favoring the fossil fuel industries, while Democratic candidate Joe Biden has an energy plan that would strongly favor renewable power…

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U.S. Energy Exports To Mexico Near Record-High Levels

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The United States exported crude oil, petroleum products, and natural gas to Mexico worth nearly US$34 billion in 2019, just shy of the record-high value of energy exports in 2018, the U.S. Energy Information Administration (EIA) said on Wednesday. According to data from the latest annual Standard International Trade Classification (SITC) from the U.S. Census Bureau, the U.S. imported energy products from Mexico worth US$13 billion last year, the EIA estimates showed. The value of U.S. energy exports to Mexico exceeded the value of energy imports from Mexico in 2015,…

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POL sales hit two-year high

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The sales of petroleum oil products in Pakistan hit two-year high level of 1.7 million tons in October with high speed diesel (HSD) leading the rally from the front. The overall sales increased 11% to 1.7 million tons in October compared to 1.52 million tons in September. The growth in the sales may be attributed to revival of economic activities as large scale manufacturing sector ie fertiliser, cement and steel are showing gradual growth in production over the past couple of months. The growth in overall sales is “backed by…

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Texas Oil Industry May Have Left The Worst Of The Downturn Behind

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Although the Texas upstream oil and gas industry remained in contraction in the third quarter, signs have emerged in employment and rig counts that the sector may have already seen the worst of the downturn and could be headed to recovery, the Texas Alliance of Energy Producers said in its latest Texas Petro Index (TPI) this week. The exploration and production activity index in Texas declined for the 19th month in a row in September, falling to 145.4 from 150.4 in August, and down by 27.5 percent compared to the September 2019…

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ECC forms panel to settle debt

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ISLAMABAD: The federal government on Wednesday formed yet another committee to settle Rs1.6 trillion circular debt after the Petroleum Division warned that power and gas supplies across the country may be disrupted due to near bankruptcy situation of companies. The Economic Coordination Committee (ECC) of the cabinet, which decided to constitute the committee, also allowed the reduction of Rs1.5 billion subsidy budget and diversion of the amount to clear liabilities of the Ministry of Religious Affairs and National Accountability Bureau (NAB). Under the chairmanship of Finance Adviser Dr Abdul Hafeez…

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