Oil Near 4-Year Low as OPEC Seen Resisting Cutting Output

Fuel Fix West Texas Intermediate crude dropped for a third day as U.S. oil inventories gained unexpectedly. Brent rose in London. Futures fell as much as 1 percent in New York. Ecuador and Venezuela will ask members of the Organization of Petroleum Exporting Countries to reduce excess output, an Ecuador official said. U.S. crude inventories […]

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PennEast Won’t Pay Property Taxes in PA.

Morning Call By Scott Kraus Michelle Trivigno has been busy lately consulting tax tables. The Delaware Township, N.J., tax collector is trying to figure out the amount of tax revenue that will flow to the township each year if the $1 billion PennEast natural gas transmission line is built as planned in 2017. PennEast projects […]

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Morning Scan: Supercharged Spending on Cybersecurity; Robo-Signers Return

American BankerBy Andy Peters Banks and other financial-services companies will increase spending on cybersecurity by $2 billion over the next two years, according to a PricewaterhouseCoopers study. Citigroup, for example, now spends about $300 million yearly on cybersecurity, an anonymous source told the Journal. Wells Fargo spends about $250 million per year. JPMorgan Chase now spends […]

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EOG Resources Posts Higher Profit and Revenue

Wall Street Journal By Josh Beckerman EOG Resources Inc. ’s third-quarter earnings more than doubled as the natural-gas and oil producer benefited from higher production. After an “excellent” quarter that included a 17% increase in total production, EOG increased its full-year production growth target to 16.5% from 14% as well productivity improves. EOG said its […]

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Denton fracking ban quickly draws two lawsuits after passing

by James Osborne and Marissa Barnett A day after voters decided to make Denton the first city in Texas to ban hydraulic fracturing, the reaction by the energy industry and government was swift. By 9:09 a.m. Wednesday, both the Texas Oil and Gas Association and the Texas General Land Office had filed lawsuits to prevent […]

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Quantum Energy Partners

Quantum Energy Secures North Dakota Site for Energy Center

Market Wired Quantum Energy, Inc. (PINKSHEETS: QEGY), announced today that it has signed a two year Option Agreement on a two hundred sixty (260) acre site in the Stanley, North Dakota area in Mountrail County, North Dakota for the construction and operation of an Energy Center that will include a 20,000 barrel per day topping […]

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ConocoPhillips

ConocoPhillips’s Profit Up on Higher Production

Market Watch By Chelsey Dulaney ConocoPhillips said its third-quarter earnings grew 9% on increased oil and gas production, despite a drop in selling prices. The exploration and production company has been selling noncore assets to focus on those with higher returns, such as U.S. shale formations, which have been fueling a drilling boom. Like many […]

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U.S. crude output rises to highest since 1980s on shale boom

Fuel Fix U.S. crude production climbed to the highest level in at least three decades last week as the shale boom moved the country closer to energy independence. Output rose 0.4 percent to 8.97 million barrels a day, according to weekly Energy Information Administration estimates that began in January 1983. The EIA’s monthly data, which […]

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Why China’s Slowdown Is Taking a Heavy Toll on Canada

Huffington Post If beaten-up Canadian investors are looking to assign blame for the bruising suffered by their portfolios of late, they could do worse than point an accusatory finger at China. The resource super-cycle that drove valuations so much higher over the last decade is now hobbling along at a snail’s pace and China is […]

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