BP returns to profit after worst quarter

  BP posted a modest $86m (£66m) profit in the third quarter, beating analyst expectations, thanks to higher oil prices and a recovery in fuel sales. The oil giant reported a $86m underlying replacement cost profit, its definition of net income, after analysts had predicted the FTSE 100 company would swing $120m into the red reported The Telegraph. …

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Energy stocks take a dive as crude oil prices fall to 3-week low

  Energy stocks took a broad dive Monday, as crude oil prices sold off amid concerns that the recent surge in new COVID-19 cases globally would sap demand. The SPDR Energy Select Sector ETF slumped 3.0%, and was the biggest decliner among SPDR ETFs tracking the S&P 500’s 11 key sectors, with all 25 equity components losing ground. …

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Oil prices settle at 3-week lows as coronavirus cases rise world-wide

Oil futures declined Monday, sending prices to their lowest finish in just over three weeks, as COVID-19 cases in the U.S. and Europe continue to surge, raising alarm over demand for crude. West Texas Intermediate crude for December delivery, the U.S. benchmark, fell $1.29, or 3.2%, to settle at $38.56 a barrel on the New York …

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Biden’s oil patch stumble has Democrats reeling

  Joe Biden’s debate comments last week that he would phase out oil and gas production are still resonating in Oklahoma, Texas and New Mexico—oil and gas producing states. So much so, they even caught the attention of the Washington Post which featured Oklahoma Democrat congresswoman Kendra Horn, who’s been targeted by Republicans for her …

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Nestle water plan results in Colorado Springs water battle

  A water fight is underway at Colorado Springs, one involving Nestle’ Waters North America, a firm that wants to pump up to 65 million gallons of groundwater out of the Upper Arkansas River Valley and sent it to Denver for bottling. “We don’t need Nestlé to bottle our water and sell it back to …

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Renewable energy surges even In fossil fuel friendly Red states

  The nation’s two largest coal-producing states, Wyoming and West Virginia, have emerged as leaders in renewable energy and energy storage, respectively, according to a new report. Kansas, Iowa and North Dakota generate enough renewable energy to meet more than half their electricity demand, according to the report. Oklahoma is not far behind at 45 …

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Energy news in brief

** Coal magnate Robert Murray died at his home in Ohio less than a week after announcing his retirement as board chairman of a major U.S. coal operator. He was 80. Murray had announced his retirement Monday, Oct. 19, from American Consolidated Natural Resource Holdings Inc., the largest privately owned coal operator in the U.S. ** BP evacuates …

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Michael Bloomberg gives $2.6 million to Texas Democrat running for railroad commissioner

  There’s nothing like a billionaire throwing in millions of dollars to a political campaign to influence the outcome. Take the case of Michael Bloomberg. The Texas Tribune reports he has made a late donation of $2.6 million to the Democratic nominee for railroad commissioner, Chrysta Castañeda, providing a massive fundraising boost in a race …

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Utility CEOs contribute personal money to help Republicans; Utility PACs also favor GOP

  CEOs at some of the country’s largest utilities have spent hundreds of thousands of their own dollars this cycle to help Republicans maintain control of the U.S. Senate and to buoy Republicans’ electoral prospects in the House, according to an Energy and Policy Institute analysis of federal campaign contributions. Some of those utilities have …

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AEP says company is on ‘precipice’ of renewable energy transformation

  American Electric Power Co. Inc., parent company to Public Service Company of Oklahoma, plans to continue investing in clean energy resources to build on its planned acquisition of wind projects in Oklahoma, despite lingering uncertainty from the coronavirus pandemic and the upcoming U.S. elections. “The way I see it is we are just on …

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