ConocoPhillips Extends Share Buybacks Through 2020

ConocoPhillips (NYSE:COP) plans to extend share buybacks for another year to boost capital spending to $5.5 billion annually through 2020, based on a flat real WTI price of $50 a barrel, in a sign that it’s targeting higher profits and shareholder returns. ConocoPhillips aims to achieve greater than 30-percent payout of cash provided by operating activities to shareholders annually, including dividends and share buybacks, the largest independent U.S. exploration and production company said on Wednesday ahead of its analyst and investor meeting…

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Is U.S. Biofuel In Jeopardy?

Last week, DuPont Industrial Biosciences announced that they shut down operations at an Iowa ethanol plant just two years after it opened. As the plant closed its doors, 90 employees were told they had just 45 minutes to evacuate the premises, and any stragglers would be escorted out by the local police. A small skeleton crew remains to maintain the facility until DuPont is able to sell it. DuPont, a branch of DowDuPont Inc, made this decision to shy away from producing ethanol from corn waste at the same time a politics are shifting from biofuels…

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Tajikistan, Uzbekistan Strengthen Energy Relations

A source at a state-run natural gas company in Tajikistan has told media that they are finalizing negotiations to resume the import of gas from Uzbekistan after a five-year hiatus. Asia-Plus news website on November 7 cited the official at Tajiktransgaz as saying a preliminary agreement for gas deliveries was reached during recent talks in the Uzbek capital, Tashkent. No price has been set yet and there is no available information about the volumes to be imported, but the Tajiktransgaz source claimed the cost would be considerably lower than that…

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Tajikistan, Uzbekistan Strengthen Energy Relations

A source at a state-run natural gas company in Tajikistan has told media that they are finalizing negotiations to resume the import of gas from Uzbekistan after a five-year hiatus. Asia-Plus news website on November 7 cited the official at Tajiktransgaz as saying a preliminary agreement for gas deliveries was reached during recent talks in the Uzbek capital, Tashkent. No price has been set yet and there is no available information about the volumes to be imported, but the Tajiktransgaz source claimed the cost would be considerably lower than that…

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China Relaxes Rules For Teapot Refiners

In a rather unexpected move, China raised the crude oil import quotas for “non state trade”—basically for independent refiners—by 55 percent for 2018 compared to 2017, signaling that it could be relaxing the rules for the so-called teapots and giving them more share of China’s oil imports. China’s Ministry of Commerce not only issued larger quotas, but made the announcement earlier than expected. Non-state companies now can begin applying for 2018 crude oil import quotas for a total of 142.42 million tons, or…

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Oil Majors See Profit In Carbon Capture And Storage

When the World Meteorological Organization (WMO) released a new report regarding the atmospheric concentration of CO2, it was the bearer of bad news. According to the report, CO2 levels reached a record high in 2016, growing 50 percent faster than the previous 10-year average. With this, the scientists argue, the goal to limit global warming to 2°C will become unattainable. So far, the conventional response to such revelations has been to call for radical cuts to CO2-emissions by shutting down industries with the greatest carbon footprint,…

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Oil Majors See Profit In Carbon Capture And Storage

When the World Meteorological Organization (WMO) released a new report regarding the atmospheric concentration of CO2, it was the bearer of bad news. According to the report, CO2 levels reached a record high in 2016, growing 50 percent faster than the previous 10-year average. With this, the scientists argue, the goal to limit global warming to 2°C will become unattainable. So far, the conventional response to such revelations has been to call for radical cuts to CO2-emissions by shutting down industries with the greatest carbon footprint,…

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