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21 января, 23:50

Yes, Trump Is Unethical

(Don Boudreaux) TweetHere’s a letter to a long-time Cafe Hayek reader: Mr. Eddie Nunez Mr. Nunez: Thanks for your e-mail. You say that while I might be correct that Donald Trump doesn’t understand the economics of trade, I am “out of bounds to write as though it is unethical for our new President to favor additional trade […]

21 января, 13:30

Обзор плеера Shanling M1 — многое в малом

Прошедшая осень выдалась очень богатой на новинки в области персонального аудио. Одной из самых долгожданных моделей конца года стал плеер M1 от компании Shanling. После популярного M2 и M5, который получил смешанные отзывы, перед компанией стояла нелёгкая задача чем-то заинтересовать разбалованных ценителей портативного звука, и им это удалось. В самой недорогой модели из продуктового ряда […]

19 января, 17:30

The Zacks Analyst Blog Highlights: Archrock Partners, Global Partners, Sundance Energy Australia and Plains All American Pipeline

The Zacks Analyst Blog Highlights: Archrock Partners, Global Partners, Sundance Energy Australia and Plains All American Pipeline

19 января, 16:34

Transocean (RIG) Slaps Patent Infringement Charges on Noble

According to recent reports, offshore drilling giant Transocean Ltd. (RIG) has filed a patent infringement lawsuit against rig builder Noble Corp. (NE), wherein it has accused the latter of infringing upon its dual-activity technology.

19 января, 16:14

Kinder Morgan (KMI) Beats on Q4 Earnings and Revenues

Kinder Morgan Inc. (KMI) reported fourth-quarter 2016 earnings of 19 cents per share from continuing operations. The bottom line surpassed the Zacks Consensus Estimate.

19 января, 02:27

Trump's EPA Nominee Struggles To Defend Oily Environmental And Ethics Records

function onPlayerReadyVidible(e){'undefined'!=typeof HPTrack&&HPTrack.Vid.Vidible_track(e)}!function(e,i){if(e.vdb_Player){if('object'==typeof commercial_video){var a='',o='m.fwsitesection='+commercial_video.site_and_category;if(a+=o,commercial_video['package']){var c='&m.fwkeyvalues=sponsorship%3D'+commercial_video['package'];a+=c}e.setAttribute('vdb_params',a)}i(e.vdb_Player)}else{var t=arguments.callee;setTimeout(function(){t(e,i)},0)}}(document.getElementById('vidible_1'),onPlayerReadyVidible); President-elect Donald Trump’s nominee to lead the Environmental Protection Agency came out swinging at his confirmation hearing Wednesday, defending, before facing a single question, his deep ties to oil and gas companies.  “We must reject as a nation the false paradigm that if you’re pro-energy, you’re anti-environment or if you’re pro-environment, you’re anti-energy,” Scott Pruitt said. “I reject that.” But he struggled throughout the six-hour hearing to make the case to senators that his confirmation would not, as critics have said, amount to a “fox guarding the henhouse.” The Oklahoma attorney general insisted that sending the EPA a 2011 letter almost entirely drafted by an oil and gas firm under his letterhead served the interests of the people of his state. He refused to recuse himself from lawsuits he filed as attorney general, sometimes jointly with fossil fuel firms, against the EPA. He described the agency as “dictatorial,” depicting it as the spearhead of federal overreach into states’ rights. He floundered when asked to name a lawsuit he brought against a corporate polluter. He declined to say how much lead is safe to drink and tried to justify his fight against rules on mercury pollution in the air. He acknowledged that climate change is not a hoax, as Trump has repeatedly claimed, but stressed that serious debate persists over the role humans play. He rebuffed a question about the need to wean off carbon-spewing fuels, robotically repeating: “I believe the EPA has a very important role to perform in regulating CO2.” “While you are not certain, the vast majority of scientists are telling us that if we do not get our act together and transform our energy system away from fossil fuel, there is no real question as to the quality of the planet we are leaving our children and grandchildren,” Sen. Bernie Sanders (I-Vt.) said, seemingly exasperated by Pruitt’s intransigence on the question. “You are applying for the job of administrator to protect the environment.” Pruitt wasn’t without his defenders. Republican senators thrice ceded their questioning time to allow Pruitt to respond to aggressive inquiries without the interruption of the Democratic lawmakers who asked them. When Democrats raised concerns about ethical conflicts or environmental science, Sens. John Barrasso (R-Wyo.) and Jim Inhofe (R-Okla.) routinely submitted articles to the official record meant to challenge those issues. Against Democrats’ pleas, Barrasso cut off the hearing after three rounds of questioning.  Pruitt’s history with Devon Energy, an oil and natural gas producer based in Oklahoma City, became a flashpoint. In 2011, Pruitt sent a letter to the EPA criticizing the agency’s estimates on methane emissions from natural gas drilling sites. The letter, published by The New York Times in 2014 among 84 pages of correspondence, bears Pruitt’s official letterhead as attorney general, but the words came almost verbatim from a memo drafted by Devon’s lawyers. During the hearing, Sen. Jeff Merkley (D-Ore.) attacked Pruitt as an industry “mouthpiece” over the incident. “You acknowledge that 97 percent of the words came from Devon Energy?” Merkley said. “I have not looked at the percentage,” Pruitt replied. “Senator, that was a step that was taken as attorney general representing the interest of our state.” “I’m just asking you if you copied the letter virtually word for word,” Merkley said. Pruitt demurred. “The efforts I took as attorney general were representing the interest of Oklahoma.” If that’s the case, Merkley said, what environmental experts did you consult to know you were representing interests beyond Devon’s? “I consulted with other environmental officials in Oklahoma that regulate that industry,” Pruitt said. “We have seven or so individuals in our office that are involved in these issues.” He promised to submit their names to the committee. Pruitt sued the EPA 13 times as Oklahoma’s attorney general, and some lawsuits are ongoing. Still, he refused to commit to a blanket recusal from those suits, even after Sen. Ed Markey (D-Mass.) said failing to do so would make Pruitt “plaintiff, defendant, judge and jury” on issues related to clean air and water. “I have every willingness and desire to recuse as directed by the EPA ethics counsel,” Pruitt said. “If directed to do so, I will in fact do so.” In an open letter, the nonpartisan Campaign Legal Center rejected Pruitt’s argument, urging him to recuse himself from the estimated 26 suits against the EPA in which he either filed suit or filed briefs. “Pruitt made a name for himself by suing the same agency he now seeks to lead, and if confirmed, he will be in a position of defending against — or settling — the same cases he previously initiated and supported,” Larry Noble, general counsel at the Campaign Legal Center, said in a statement. “Pruitt can’t be an impartial administrator when it comes to the lawsuits he spearheaded, and as EPA Administrator he must step aside from those suits to protect the integrity of the agency’s decisionmaking.” Pruitt deferred to Justina Fugh, the EPA’s ethics chief, when asked about conflicts of interests stemming from donations made to Pruitt-linked groups by fossil fuel companies. In particular, two Pruitt-linked political action committees that raised hundreds of thousands of dollars from energy companies announced last week that they would shut down amid reports of questionable spending.  During his first questions, Sen. Sheldon Whitehouse (D-R.I.) trotted out a poster-sized chart drawing lines between Pruitt-affiliated fundraising groups and donations from six major energy companies, including Koch Industries, Exxon Mobil Corp. and coal giants Murray Energy and Continental Resources. Whitehouse asked pointedly whether Pruitt solicited donations from the companies. “I attended fundraising events as attorney general,” Pruitt said. Whitehouse refined his question, asking specifically if he asked for money. “I did not ask of Koch,” Pruitt said, stuttering. “What were the other ones?” Whitehouse once again displayed the names on the chart. “I have not asked for money on behalf of RAGA,”  Pruitt said, referring to the Republican Attorney General Association, which he chaired in 2012 and ’13. Pruitt tried to counter by saying he has sued companies on the list. Whitehouse asked which ones. “With respect to the rule of law ― Exxon Mobil,” Pruitt said. Speaking out of turn, Whitehouse shot back by noting the lawsuit had “nothing to do with the environment.” Pruitt championed Exxon Mobil last year against a coalition of Democratic attorneys general who opened a fraud investigation into the oil giant’s history of covering up evidence of global warming. When the hearing resumed after an hourlong lunch break, Pruitt recalled filing lawsuits against other oil companies, including Valero Energy, BP and ConocoPhillips. If Democrats used their time to investigate Pruitt’s environmental record, Republicans spent theirs putting the EPA itself on trial. Conservative senators, along with Pruitt, repeatedly described an agency suffering from “mission creep,” putting undue burdens on farmers, lumberjacks and fishermen to obtain special permits. Pruitt said the agency showed “an attitude of indifference” to states’ rights. Yet, pressed by Sen. Kamala Harris (D-Calif.), he refused to commit to upholding California’s vehicle pollution standards, which are stricter than the national average. Markey slammed what he called a “double standard” in which Pruitt deems state actions aligned with oil and gas interests to be kosher but questions state regulations that go beyond EPA rules. “When it comes to Massachusetts or California or other states trying to increase their protection for the environment, protect their victimization from carbon pollution, you say there you’re going to review,” Markey said. “The science hasn’t changed. The new clean energy technologies haven’t changed. The danger to the public from environmental exposure to carbon pollution hasn’t changed. So from our perspective, we are fearful of what a review would actually result in. From my perspective, it’s going to lead to you undoing the right of states to be able to provide that protection.” type=type=RelatedArticlesblockTitle=Related... + articlesList=5878ad15e4b0b3c7a7b0c29c,587f9ecfe4b0cf0ae88131b6,587f9911e4b0c147f0bc3267,587d4aa2e4b03549ebc02152,585ab45de4b0d9a59456ba9d,584856f1e4b0b9feb0dab14f -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

18 января, 22:54

4 Oil Stocks to Buy as Sector Spending Picks Up

After years of cutbacks, expenditure for the sector is projected to increase over 2017.

18 января, 20:42

Tom Price Just Contradicted Trump Team's Defense Of His Questionable Stock Trades

function onPlayerReadyVidible(e){'undefined'!=typeof HPTrack&&HPTrack.Vid.Vidible_track(e)}!function(e,i){if(e.vdb_Player){if('object'==typeof commercial_video){var a='',o='m.fwsitesection='+commercial_video.site_and_category;if(a+=o,commercial_video['package']){var c='&m.fwkeyvalues=sponsorship%3D'+commercial_video['package'];a+=c}e.setAttribute('vdb_params',a)}i(e.vdb_Player)}else{var t=arguments.callee;setTimeout(function(){t(e,i)},0)}}(document.getElementById('vidible_1'),onPlayerReadyVidible); WASHINGTON ― Rep. Tom Price (R-Ga.), President-elect Donald Trump’s nominee to head the Department of Health and Human Services, admitted on Wednesday that he decided to buy stock in an Australian biotech firm after receiving information from Rep. Chris Collins (R-N.Y.), a board member of that company. Price’s admission that he personally chose to purchase stock in Innate Immunotherapeutics contradicts the Trump transition team’s defense of another questionable stock trade Price made. The transition team had previously said Price held a broker-operated account with Morgan Stanley and did not direct his stock trades. “Dr. Price’s Morgan Stanley financial advisor designed his portfolio and directed all trades in the account,” read a fact sheet the transition team put out on Tuesday. “Pursuant to the arrangement with Morgan Stanley, the financial advisor, and not Dr. Price, has the discretion to decide which securities to buy and sell in his account.” The transition team’s defense that Price did not direct his stock trades was in response to a CNN report that the congressman bought stock in Zimmer Biomet before introducing legislation specifically targeted to help the company. Price’s testimony shows that he does indeed involve himself in the purchase and sale of his own stocks, at least when it came to Innate Immunotherapeutics. Trump transition spokesman Phillip Blando said in an email that Price asked his Morgan Stanley broker to open “an account separate from his primary broker-directed account at Morgan Stanley in order to make the purchase.” It is not clear whether Price had other accounts, but his financial disclosures indicate that none of his accounts are blind trusts ― that is, he has power to direct trades on any or all of them. Price is also required to file an annual statement saying he knows what stock or other assets he holds or trades. Price had assured the transition team that he did not direct any of his own stock trades, a person involved in the transition told The Huffington Post. Price has agreed to divest of all his stock holdings upon confirmation. Under questioning by Sen. Patty Murray (D-Wash.), the ranking Democrat on the Senate Health, Education & Labor Committee, Price denied that he had received nonpublic information, but asserted that he decided to purchase stock in Innate Immunotherapeutics after hearing from Collins.  “[Collins] talked about the company and the work they were doing in trying to solve the challenge of progressive secondary multiple sclerosis,” Price said. “I studied the company for a period of time and felt it had significant merit and purchased the initial shares on the stock exchange.” Ethics experts stated that Price could be in violation of the STOCK Act, a bipartisan 2012 law that bans insider trading by members of Congress, if he received nonpublic information from Collins or others prior to purchasing Innate Immunotherapeutics shares.  Norm Eisen, the former top ethics adviser to President Barack Obama, said, “I think it raises very serious questions under the STOCK Act and the House Ethics rules. I think that we need to know what was said in those communications.” “This is another example of something that needs to be further investigated,” said Larry Noble, a lawyer with the Campaign Legal Center and former general counsel to the Federal Election Commission. “He himself has now said something that raises the question of whether he has violated the STOCK Act.” “Public information doesn’t mean that one other person knows,” he added.  “The ethics concerns keep growing and that is why they need to be investigated and resolved,” said John Kraus, press secretary for Sen. Tammy Baldwin (D-Wis.). Baldwin, along with Sens. Elizabeth Warren (D-Mass.) and Al Franken (D-Minn.), has written a letter to Price asking for more information about the Innate Immunotherapeutics trade. He himself has now said something that raises the question of whether he has violated the STOCK Act. Larry Noble, former general counsel to the Federal Election Commission Price’s answer about when he decided to buy stock in Innate Immunotherapeutics came in response to a back-and-forth in which Murray recounted a private conversation she had had with the congressman. “You made the decision to purchase that stock, not a broker. Yes or no?” Murray asked at Price’s confirmation hearing. “That was a decision that I made, yes,” Price said. “You were offered an opportunity to purchase stock at a lower price than was available to the general public,” Murray said. “Yes or no?” “I don’t know that it was,” Price responded. “It was the same price that everybody paid for the private placement offering.” “Well, Congressman Chris Collins, who sits on President-elect Trump’s transition team, is both an investor and a board member of the company,” Murray said. “He was reportedly overheard just last week off the House floor bragging about how he had made people millionaires from a stock tip. Congressman Price, in our meeting, you informed me you made these purchases based on conversations with Representative Collins. Is that correct?” “No, what I ―” Price started. Murray interjected, “That is what you said to me in my office.” Price responded, “What I believe I said to you was I learned of the company from Congressman Collins.” “What I recall from our conversation was that you had a conversation with Collins and then decided to purchase the stock,” Murray said. “No, that’s not true,” Price replied. Murray pressed forward. “Well, that is what I remember hearing you say in my office,” she said. “In a conversation, did Representative Collins tell you anything that could be considered, quote, a stock tip? Yes or no?” “I don’t believe so, no,” Price said. Murray continued, “Well, if you are telling me he gave you information about a company, you were offered shares in the company at prices not available to the public, you bought those shares, is that not a stock tip?” This is where Price explained that Collins told him about the company, but that he purchased stock after doing his own research. He said he participated in the private placement of stock in August. Price’s participation in a private placement of stock by Innate Immunotherapeutics was first reported by Kaiser Health News last week. The congressman’s largest purchase of Innate Immunotherapeutics stock was between $50,001 and $100,000 during the company’s private placement on Aug. 31, 2016. Murray further questioned Price on whether he thought it was appropriate for members of Congress to be trading stocks that could benefit from legislation under consideration, adding that the 21st Century Cures Act had numerous provisions that would benefit Innate Immunotherapeutics. “Do you believe it is appropriate for a senior member of Congress actively involved in policy making in the health sector to repeatedly personally invest in a drug company that could benefit from those actions?” Murray asked. “Yes or no?” “That’s not what happened,” Price said. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

18 января, 20:37

Should General Growth Properties be in Your Portfolio?

Retail REIT, General Growth Properties, Inc. (GGP), has decided to change its name officially to GGP Inc. effective Jan 27.

18 января, 19:43

Russia Boosts Domestic Oil, Gas Pipeline Capacity

Russia increased its domestic pipeline capacity by launching a gas pipeline and two oil pipelines on Wednesday. Gazprom’s Bovanenkovo-Ukhta 2 gas pipeline has the capacity to carry 263 million cubic meters of gas daily and from Ukhta will connect to trunklines carrying gas to northern Europe. The oil pipelines which Russia launched today are the Kuyumba-Taishet and Zapolyarye-Purpe lines. The new oil pipelines were built by Transneft. Bovanenkovo-Ukhta 2 is carrying gas from the Bovanenkovskoye field, the largest field in the Yamal Peninsula.…

18 января, 19:43

Texas Land Leases For Oil Exploration Rise, Income Falls

Demand for public land in Texas from energy companies has gone up since July 2016, but income from the leases has dropped, reflecting the low oil prices that have left many an energy company cash-strapped and unable to make serious new investments. According to the state’s Land Commissioner George P. Bush, a total 14,000 acres of Texas public land were auctioned, but income from them came in at just US$5,900 per acre. This compares with US$7,400 per acre in July 2016, when the last public land lease auction was held in Texas. The total proceeds…

18 января, 19:35

Argentina, Bolivia Seal Gas Exploration Deal

The state-owned companies of Argentina and Bolivia, YPF and YPFB, respectively, have signed an oil services agreement that will see the two partner in the exploration of the Charagua block in hopes to strike commercially viable reserves of natural gas. The block, spanning 99,250 hectares in eastern Bolivia’s Santa Cruz department, is estimated to contain 2.7 trillion cu ft of gas. According to YPFB, if the partners make a commercial find, they will then proceed to form a consortium and invest over US$1.1 billion in the development of the…

18 января, 18:18

Company News for January 18, 2017

Companies in the News are: CWEI,NBL,WMT,RAI,BTI,TIF

18 января, 16:52

Statoil Enhances Presence in Norwegian Continental Shelf

Statoil ASA (STO) recently declared that it has been awarded interests in 29 exploration licenses on the Norwegian continental shelf in connection with the Award in Predefined Areas (???APA???) for 2016.

Выбор редакции
18 января, 16:34

Retailing, Part 2: The Way Out Of The Rut For Brick And Mortar Stores

A number of retailers, including Macy’s, Barnes & Noble, and Sears, delivered disappointing holiday sales results. Women’s apparel retailer The Limited reported it will close down its 250 brick and mortar stores. Retail bigwig Walmart disclosed its decision to cut hundreds of jobs by the end of the month. The [...]

18 января, 15:42

Exxon Mobil to Buy Bass Family Assets, Double Permian Yield

Exxon Mobil Corporation (XOM) recently announced its intention to more than double its Permian Basin resource of 6 billion barrels of oil equivalent.

18 января, 03:53

Democrats Home In On Tom Price Stock Trades Ahead Of Nomination Hearings

function onPlayerReadyVidible(e){'undefined'!=typeof HPTrack&&HPTrack.Vid.Vidible_track(e)}!function(e,i){if(e.vdb_Player){if('object'==typeof commercial_video){var a='',o='m.fwsitesection='+commercial_video.site_and_category;if(a+=o,commercial_video['package']){var c='&m.fwkeyvalues=sponsorship%3D'+commercial_video['package'];a+=c}e.setAttribute('vdb_params',a)}i(e.vdb_Player)}else{var t=arguments.callee;setTimeout(function(){t(e,i)},0)}}(document.getElementById('vidible_1'),onPlayerReadyVidible); WASHINGTON ― Senate Democrats want to postpone confirmation hearings for Rep. Tom Price (R-Ga.), President-elect Donald Trump’s nominee to head the Department of Health and Human Services, until investigations of his stock trading end.  Sens. Elizabeth Warren (D-Mass.), Tammy Baldwin (D-Wis.) and Al Franken (D-Minn.) on Tuesday called for postponement of the hearings, and sent a letter to Price asking for details of his purchase of an Australian biotech stock. Democratic Senate Leader Chuck Schumer (D-N.Y.), meanwhile, took to the floor of the Senate to call for a delay, citing his request that the Office of Congressional Ethics investigate Price’s investments. Sen. Kirsten Gillibrand (D-N.Y.), author of the 2012 STOCK Act that bars insider trading by members of Congress, also asked the Securities and Exchange Commission to investigate. A Senate committee has scheduled a confirmation hearing for Price on Wednesday amid a barrage of news stories raising questions about his stock trading while in office. Kaiser Health News reported on Friday that Price received shares of an Australian biotechnology firm at a discounted rate not available on the open market. CNN reported on Monday that Price invested in a medical device manufacturer prior to introducing legislation specifically tailored to help that company. On Tuesday, Time reported that Price had purchased shares in six health care companies in 2016 while introducing legislation those companies lobbied to enact. The Wall Street Journal reported last month that Price had traded around $300,000 in shares of health care companies while working on legislation that would directly affect their bottom lines. Price has claimed that his stock trades were made from a broker-directed fund operated by Morgan Stanley. All trades were made by his financial adviser, according to a fact sheet put out by the Trump presidential transition team. A spokesman for Morgan Stanley said the bank does not comment on private client accounts. The Trump fact sheet was released in response to the CNN report that Price introduced legislation to help medical-device maker Zimmer Biomet soon after purchasing stock in the company. The statement said Price’s financial adviser purchased $2,698 in Zimmer Biomet on March 17, 2016. Price reportedly did not learn about the purchase until April 4, 2016 ― 12 days after he introduced legislation to delay a Medicare payment model for a specific medical device manufactured by Zimmer Biomet. Price had made $296 on the trade as of Jan. 13, according to the statement. Price reached an agreement with the Office of Government Ethics to divest his stock holdings upon his confirmation as HHS secretary. Ethics experts told HuffPost that they endorse an investigation into Price’s trades because there aren’t enough public facts to know whether he violated the STOCK Act or House ethics rules regarding conflicts of interest and the acceptance of improper gifts. “I have no idea whether Rep. Price had any insider information,” Common Cause’s Paul S. Ryan, a campaign finance and ethics lawyer, said, referring to the Zimmer Biomet trade. Larry Noble, a lawyer at the Campaign Legal Center and former general counsel to the Federal Election Commission, said Price committed “a possible violation” of the STOCK Act “if he knew that he was going to introduce the bill, it was not public he was going to introduce the bill, he buys stock immediately before that, and then introduces it and that helps it go up.” House conflict-of-interest rules ban lawmakers from participating in government matters that could affect their financial interest. Ryan noted there’s an exemption for ownership of publicly traded stock worth less than $15,000. Nearly all of Price’s health care company stock trades, including Zimmer Biomet, were for less than $15,000. A major exception was Price’s purchase of Innate Immunotherapeutics shares for between $50,001 and $100,000. Both Price and Rep. Chris Collins (R-N.Y.) received a below-market price when they bought shares in the Australian biotech company through a private placement, according to Kaiser Health News. The shares have since appreciated more than 400 percent. Lawmakers are barred from participating in initial public offerings not open to the broader public, Ryan said.  Noble said other rules may apply, “If they’re giving him a discounted price, that seems like it would be a gift and covered by the ethics rules.” The Innate Immunotherapeutics stock purchase was the subject of the letter sent by Warren, Baldwin and Franken. The senators ask Price to disclose all information related to his purchase of the shares, including how he learned about the private placement and participated. Gillibrand’s letter asks the SEC to investigate Price’s purchase of shares in Zimmer Biomet. Unmentioned in her request was that Price received a $2,000 contribution from the company’s political action committee after the legislation was introduced. Any ethics investigation into whether Price took action to benefit a company or industry in connection with a campaign contribution is unlikely to go anywhere. In 2011, the House Ethics Committee dismissed charges that Price and six other congressman from both parties created an appearance of impropriety by holding fundraisers with the financial services industry just days after voting in committee to weaken the Dodd-Frank banking reform law. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

18 января, 02:51

Exxon More Than Doubles Permian Basin Holdings For $6.6B

As Permian Basin buyers line up, Exxon Mobil (XOM) on Tuesday said it would pay up to $US6.6 billion to more than double its acreage in the superstar shale area. The news comes only a day after Noble Energy (NBL) agreed to buy Clayton Williams Energy (CWEI) for $US2.7 billion to expand its own holdings in the Permian. Exxon will buy companies owned by the Bass family of Fort Worth, and it will make an upfront payment of US$5.6 billion in stocks. The acquired companies hold about 275,000 acres of leasehold that produces more than 18,000 net oil…

18 января, 02:41

Indonesia’s Pertamina To Invest $54B In Upstream By 2025

Indonesia’s state-held energy company Pertamina plans to invest US$54 billion in upstream production by 2025, with the purpose to raise its oil, gas and geothermal output by 185 percent, spokeswoman Wianda Pusponegoro told local media on Tuesday. Pertamina’s goal is to increase oil, gas and geothermal production to around 1.91 million barrels of oil equivalent per day (boepd), compared to just 670,000 boepd for November of 2016. “Hence, we want to be more aggressive in strengthening the upstream industry by trying to exploit more…

18 января, 02:32

Airbus To Test Flying Car Prototype By End-2017

Airbus expects to test by the end of the year a prototype of an autonomous flying car that could potentially help ease city traffic at some point in the future, Airbus Group chief executive Tom Enders said at a tech conference on Monday. “One hundred years ago, urban transport went underground, now we have the technological wherewithal to go above ground,” Enders told the DLD conference in Munich, as quoted by Reuters. Although Airbus is only in an experimentation stage for such technology, it takes the development very seriously, Enders…