Energy Sector

Oil Retained Friday’s Gains after Failed Military Coup in Turkey and Continued Supply

Oil Retained Friday’s Gains after Failed Military Coup in Turkey and Continued S

Brent maintained its gains during the weekend after the failed attempt of a military coup in Turkey, which is a major route for crude from Russia and Iraq while being shipped through the Mediterranean Sea.

Futures did not note much change in London after rising 0.5 percent on Friday.

Hawaii’s PUC Rejects NextEra’s Bid for Hawaiian Electric Company

Hawaii’s PUC Rejects NextEra’s Bid for Hawaiian Electric Company

One of the biggest merger deals in the history of Hawaii which Governer David Ige was not in favor of has been rejected by a vote of 2-0 by the Public Utilities Commission.

BP’s Final Bill Reaches $61.6 Billion in Gulf of Mexico Disaster

BP’s Final Bill Reaches $61.6 Billion in Gulf of Mexico Disaster

The disastrous deep horizon oil spill in 2010 is costing BP a massive $61.6 billion.

One of the biggest oil and gas companies on the world, BP issued its final estimate which the oil spill cost it; it's perhaps the largest so far in the history of the United States.

Drillers in the U.S. Add to Oil and Natural Gas Counts in the Week

Drillers in the U.S. Add to Oil and Natural Gas Counts in the Week

A closely followed report on Friday revealed that the U.S. drillers in the week added more oil rigs. Out of twenty six weeks, this is the fifth time that the oil drillers have added to the rig counts this year.

According to Baker Hughes Inc, the energy services firm, ten oil rigs were added in the week till July 8 and that makes the total count 351.

Shale Producers are Pacing Up Activity Nationwide

Shale Producers are Pacing Up Activity Nationwide

On Friday, crude futures increased slightly in the afternoon session as reports revealed that U. S. oil active rig counts moved up in the past week.

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