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Energy Industry Archive

January 2009

Energy Roundup: SunEdison Buys Real Estate, ZeaChem Gets $34M, and More

By Christopher Wink | Jan 8, 2009

Company raises $34 million for cellulosic-ethanol plant — Cellulosic-ethanol startup ZeaChem raised $34 million to help build its next-generation American biofuel plant. The company plans on launching construction on a 1.5 million gallon-per-year plant in Oregon later this year. [Source: Earth2Tech] Energy group, realty company reach deal on solar — Cleveland-based Developers...

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The Uncertain Business of Building New Nuclear

By Chris Morrison | Jan 7, 2009

A new study on Climate Progress has some surprising conclusions for nuclear power. Final costs for generating power at new plants, the study says, will be 25 to 30 cents per kilowatt-hour, which is some three times the cost of today’s energy. Nuclear is a major part of some plans to move away from fossil fuels like coal and gas, so numbers like this should be extremely worrying to...

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Energy Roundup: Duke Energy's Solar Gambit, Sentilla Gets Funding, and More

By Christopher Wink | Jan 7, 2009

Duke Energy can buy cheap power, can’t recover rest of cost — The Carolinas subsidiary of Duke Energy will be allowed to install 10 megawatts of photovoltaic systems at hundreds of homes, schools and commercial and industrial buildings — and to purchase the electricity cheaper than if the company owned the systems itself. But the company cannot recoup the $50 million price tag...

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Hercules Offshore Cold-Docking Rigs, Cutting Costs in 2009

By David Phillips | Jan 6, 2009

The Company: Hercules Offshore, a provider of offshore contract drilling, liftboat and inland barge services. The Filing: FORM 10-Q filed with the SEC on October 31, 2008. The Finding: Expanding its geographic footprint is a fundamental element in Hercules Offshore’s business strategy. Nonetheless, the world’s largest operator of jackup rigs in the shallow waters (water depth of...

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Energy Roundup: Canadian Gas Pipeline Attacked, Toshiba Goes Solar and More

By Christopher Wink | Jan 6, 2009

Canadian gas pipeline explosion — A “deliberate explosion” struck a gas pipeline operated by Canadian oil company Encana in western Canada over the weekend, police said yesterday. There were no injuries or gas leakage, but this was the fourth suspected attack on the Encana property in the Tomslake area of British Columbia. Investigations are ongoing. [Source: AFP] Citgo halts...

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Genius Investor Dumps BlueFire Ethanol Fuels

By Chris Morrison | Jan 6, 2009

Yesterday morning’s Clean Technology Insight contains a tidbit on BlueFire Ethanol Fuels, a publicly-traded ethanol startup. Quercus Trust, one of its investors, is dumping shares in the company at a loss, according to CTI. Ethanol companies have been hit hard by the recession, but BlueFire is step further down the technology chain: it’s a cellulosic ethanol company. For practical...

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Oil Bulls Take a Tentative Peek Outside

By Chris Morrison | Jan 5, 2009

News that Israel is moving into Gaza again appears to have spurred oil’s advance back toward the $50 mark. And with a fresh new year ahead, plenty of pundits are eager to start predicting which way prices will go from here. In one camp are the bears, who have been dominant for the past few months. As oil prices are often set on the margin and demand has already fallen by over 5 percent in...

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Energy Roundup: Nigerian Oil Explodes, Peco Buys Wind, and More

By Christopher Wink | Jan 5, 2009

Nigerian explosion cuts oil production by 12,000 barrels — An oil spill has closed a pipeline in Nigeria owned by Italian energy-giant Eni SpA and cut the company’s daily output by 12,000 barrels. On Saturday, Nigerian officials said a Friday explosion of another oil pipeline was sabotage, not a militant attack. Oil from Nigeria, the world’s eight-largest producer, is often...

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ConocoPhillips Loses $7 Billion on LUKOIL Stake in 2008

By David Phillips | Jan 2, 2009

The Company: ConocoPhillips, an integrated energy company with interests around the world. The Filing: FORM 10-Q filed with the SEC on October 29, 2008. The Finding: The 2006 acquisition of a 20 percent stake in LUKOIL by ConocoPhillips, initially applauded by energy analysts because it increased production growth prospects by opening access to the Russian market, could prove to be an...

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Solyndra Proves Creative Solar Designs Are a Hit With Investors

By Chris Morrison | Jan 2, 2009

An innovative rooftop solar design for that looks like a cross between a row of fluorescent tube lights and a traditional solar panel, made by a startup called Solyndra, is receiving an avalance of support from private investors, and marks what may be a big industry trend for the future. Solyndra appears to have won $219 million in financing atop its previous $600 million haul, according to an...

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Business in the energy industry is fast paced and ever-changing. BNET Energy provides daily news coverage for managers and executives in the energy sector, with coverage on the major utilities, energy companies, clean tech and renewable energy businesses. BNET Energy offers in depth analysis of green business, the very latest in energy research, alliances and partnerships, competitive intelligence and a host of other global energy industry issues.