Surge Energy Inc. Announces 2020 Budget

CALGARY  – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its budget guidance for 2020 as approved by the Company’s Board of Directors. 2020 BUDGET – DEFENSIVE AND SUSTAINABLE Surge’s disciplined 2020 capital expenditure budget reaffirms the Company’s commitment to free cash flow generation and debt reduction. Surge’s Board of [Read more]

Source: BOE Report

Manitowoc Board of Directors Elects Anne E. Bélec as New Director

MILWAUKEE–(BUSINESS WIRE)–The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or “Manitowoc”), a leading global manufacturer of cranes and lifting solutions, today announced that Anne E. Bélec has been elected to the Company’s Board of Directors effective immediately. Additionally, the Company announced an increase in the size of the Board from eight to nine directors. Ms. [Read more]

Source: BOE Report

Despite Crisis, PDVSA Offers Yoga Lessons To Employees

Venezuela’s oil company PDVSA appears to be in shambles for most observers but besides managing to boost its oil production last month, the state firm is still offering yoga, guitar, and dance lessons to employees, Bloomberg reports. To top it all, the division also offers workshops in the management of a socially responsible business. Amid an exodus of millions of ...

Source: Oilprice.com

Baker Hughes Eyes 100% Renewable Energy For Texas Operations

Baker Hughes has vowed to generate 100 percent of the energy it uses in Texas from solar and wind power capacity, Bloomberg reports, citing a statement by the company. According to Baker Hughes, switching to solar and wind to power its 170 facilities across the Lone Star State will reduce its global carbon footprint by 12 percent. The move is ...

Source: Oilprice.com

EIA analysis explores India’s projected energy consumption

In the U.S. Energy Information Administration's (EIA) International Energy Outlook 2019 (IEO2019), India has the fastest growing rate of energy consumption globally through 2050. By 2050, EIA projects in the IEO2019 Reference case that India will consume more energy than the United States by the mid-2040s, and its consumption will remain second only to China through 2050. EIA explored three alternative outcomes for India's energy consumption in an Issue in Focus article released today and a corresponding webinar held at 9:00 a.m. Eastern Standard Time.

Source: EIA: Today in Energy

Tesla’s Cybertruck Dead Last In Truck Survey

Ford and GM can rest easy: Tesla’s cybertruck may have a niche after all, but it won’t cut into Ford and GMs truck market, according to a new survey from automotive research site, Autolist. According to the survey, which polled 1,100 respondents, if they had to buy GM’s upcoming electric truck, Ford’s electric F150, Rivian R1T, or the Cybertruck, which ...

Source: Oilprice.com

Should The West Be Worried About The Power Of Siberia Pipeline?

A massive work of infrastructure has just been brought online, and its geopolitical implications are explosive.    Last week, the presidents of Russia and China jointly inaugurated one of the biggest pieces of gas infrastructure in the world.  The “Power of Siberia” pipeline is sending gas from eastern Siberia over 3,000 kilometers of tundra to northern China; and when ...

Source: Oilprice.com

TerraVest Announces Fourth Quarter and Year End Results for Fiscal 2019 and the Redemption of 7.00% Convertible Unsecured Subordinated Debentures

TORONTO, Dec. 11, 2019 /CNW/ – TerraVest Industries Inc., (TSX: TVK) (“TerraVest” or the “Company”) announces its results for the fourth quarter and year ended September 30, 2019. FOURTH QUARTER AND YEAR END REVIEW AND OUTLOOK Business Performance Management believes that there are certain non‐IFRS financial measures that can be used to assist shareholders in analyzing the performance [Read more]

Source: BOE Report

1.5 Billion Barrels Of Oil Discovered Offshore Ghana

A Ghana-based private company and its local partners have discovered 1.5 billion barrels of oil in place offshore the West African country, the company Springfield E&P said on Wednesday. Springfield and its partners Ghana National Petroleum Corporation (GNPC) and GNPC EXPLORCO also found 700 billion cubic feet of gas in the West Cape Three Points (WCTP) Block 2 they ...

Source: Oilprice.com

OPEC Reduced Oil Production Ahead Of Deeper Cuts Decision

OPEC’s crude oil production declined by 193,000 bpd in November from October, as the cartel’s leader Saudi Arabia cut production ahead of the OPEC+ meeting, Iraq tried to fall in line with its quota, and Iran further suffered from the U.S. sanctions.   OPEC’s crude oil production averaged 29.55 million bpd in November, the cartel said in its ...

Source: Oilprice.com

Scientific Breakthrough Could Upend Lithium Market

Lithium-ion battery recycling is a big topic in energy right now. Recycling lithium itself, the element that makes these batteries what they are, has not garnered so much attention because of the tiny amounts that are used in each battery. Now, this may be about to change. Lithium is the component that makes batteries rechargeable, that makes them more energy ...

Source: Oilprice.com

Who Will Fund This $157 Billion Mega Oil Project?

The head of Russia’s largest oil firm, Rosneft, has pitched a massive Arctic oil project to Japanese companies in Tokyo, looking for foreign investment into the project estimated to cost as much as US$157 billion, Reuters reported on Wednesday, quoting three sources familiar with the meetings. Rosneft’s chief executive Igor Sechin has met with representatives from Mitsubishi Corporation, Mitsui & ...

Source: Oilprice.com