Russia will be fully compliant with OPEC-led supply cuts by April, energy minister says

Russian Energy Minister Alexander Novak said on Sunday that Moscow will be fully compliant with OPEC-led supply cuts over the coming weeks. “As for the target output level that forms part of the signed agreement, we plan to reach those figures by the end of March (or) beginning of April. The producers meet in mid-April to review their oil supply cut agreement, which is scheduled to last through the first-half of 2019. OPEC’s share is 800,000 b/d, to be delivered by 11 members — with Iran, Venezu


Russian Energy Minister Alexander Novak said on Sunday that Moscow will be fully compliant with OPEC-led supply cuts over the coming weeks. “As for the target output level that forms part of the signed agreement, we plan to reach those figures by the end of March (or) beginning of April. The producers meet in mid-April to review their oil supply cut agreement, which is scheduled to last through the first-half of 2019. OPEC’s share is 800,000 b/d, to be delivered by 11 members — with Iran, Venezu
Russia will be fully compliant with OPEC-led supply cuts by April, energy minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-17  Authors: sam meredith
Keywords: news, cnbc, companies, cuts, russia, opecled, months, supply, minister, compliant, extension, fully, agreement, target, discussed, output, novak, energy


Russia will be fully compliant with OPEC-led supply cuts by April, energy minister says

Russian Energy Minister Alexander Novak said on Sunday that Moscow will be fully compliant with OPEC-led supply cuts over the coming weeks.

“As far as the meeting is concerned we, of course, discussed the situation with the execution of the agreement (and) we stressed once again that Russia is discharging its obligations in accordance with the agreement to smoothly achieve the target output,” Novak told CNBC’s Dan Murphy in Baku, Azerbaijan, according to a translation.

“As for the target output level that forms part of the signed agreement, we plan to reach those figures by the end of March (or) beginning of April. This is earlier than in the same period two years ago by about one month.”

His comments come three months into a fresh round of production cuts from the so-called OPEC+ alliance. The producers meet in mid-April to review their oil supply cut agreement, which is scheduled to last through the first-half of 2019.

The Middle East-dominated group, alongside non-OPEC allies such as Russia, agreed to reduce output by 1.2 million barrels per day (b/d) for six months.

OPEC’s share is 800,000 b/d, to be delivered by 11 members — with Iran, Venezuela and Libya exempt from cuts.

When asked whether Russia would support an extension to the cuts, Novak replied: “It is a little premature to talk about this. The deal after all covers the first six months of the year so any extension will be discussed in May or June this year.”


Company: cnbc, Activity: cnbc, Date: 2019-03-17  Authors: sam meredith
Keywords: news, cnbc, companies, cuts, russia, opecled, months, supply, minister, compliant, extension, fully, agreement, target, discussed, output, novak, energy


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America’s energy capital became a battleground over a Russian pipeline to Germany this week

It was pursued by companies, and it had economic advantages because that’s what companies like,” she said. The Russian partner Gazprom is state-controlled and initiated the project on behalf of Moscow, he said. “This is not purely a private project for the development of energy,” he said. Moscow wants to circumvent the Ukrainian pipeline system, depriving its regional rival of valuable transit fees and making it easier for the Kremlin to pressure its neighbors. “If you have a piece of infrastruc


It was pursued by companies, and it had economic advantages because that’s what companies like,” she said. The Russian partner Gazprom is state-controlled and initiated the project on behalf of Moscow, he said. “This is not purely a private project for the development of energy,” he said. Moscow wants to circumvent the Ukrainian pipeline system, depriving its regional rival of valuable transit fees and making it easier for the Kremlin to pressure its neighbors. “If you have a piece of infrastruc
America’s energy capital became a battleground over a Russian pipeline to Germany this week Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: tom dichristopher, carsten koall, getty images, nick oxford, ty wright, bloomberg, f carter smith, mary catherine wellons, mandel ngan, afp
Keywords: news, cnbc, companies, works, energy, ukrainian, motives, project, pursued, infrastructure, germany, week, pipeline, capital, piece, russian, moscow, americas, battleground


America's energy capital became a battleground over a Russian pipeline to Germany this week

“It was not pursued by the state. It was pursued by companies, and it had economic advantages because that’s what companies like,” she said.

U.S. Deputy Energy Secretary Dan Brouillette pushed back on that claim. The Russian partner Gazprom is state-controlled and initiated the project on behalf of Moscow, he said.

“This is not purely a private project for the development of energy,” he said. “And so what are the motives for doing that? If it’s a government driven exercise, you have to look at… geopolitics and the particular governments involved.”

Russia’s motives for building Nord Stream 2 and another pipeline called Turkstream are clear, according to Amos Hochstein, a former special envoy for international energy under President Barack Obama who now sits on the supervisory board for Ukrainian gas company Naftogaz. Moscow wants to circumvent the Ukrainian pipeline system, depriving its regional rival of valuable transit fees and making it easier for the Kremlin to pressure its neighbors.

“If you have a piece of infrastructure that works, you rarely see somebody saying, ‘Hey, it works. Let’s go and finance billions of dollars worth of a different piece of infrastructure to accomplish a very similar goal, which is to get a molecule of gas from Russia into Europe,'” Hochstein said during a separate panel on Wednesday.

“So that is what’s on the table at the moment, a non-commercial project that serves a political goal.”


Company: cnbc, Activity: cnbc, Date: 2019-03-15  Authors: tom dichristopher, carsten koall, getty images, nick oxford, ty wright, bloomberg, f carter smith, mary catherine wellons, mandel ngan, afp
Keywords: news, cnbc, companies, works, energy, ukrainian, motives, project, pursued, infrastructure, germany, week, pipeline, capital, piece, russian, moscow, americas, battleground


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Shale oil drillers gave stock shareholders what they wanted, then investors punished them anyway

That trend came to a head over the last month, when many drillers cut spending and lowered production guidance for 2019. The title of a recent research note by Simmons Energy summed up the the response: “No Good Deed Unpunished.” Though it’s rallying this week, the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund tumbled 8 percent between the start of the drillers’ earnings season in February and the end of last week. But it’s not as simple as saying investors sold the stocks b


That trend came to a head over the last month, when many drillers cut spending and lowered production guidance for 2019. The title of a recent research note by Simmons Energy summed up the the response: “No Good Deed Unpunished.” Though it’s rallying this week, the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund tumbled 8 percent between the start of the drillers’ earnings season in February and the end of last week. But it’s not as simple as saying investors sold the stocks b
Shale oil drillers gave stock shareholders what they wanted, then investors punished them anyway Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: tom dichristopher, ty wright, bloomberg, getty images, david orrell, f carter smith, mary catherine wellons, ali mohammadi, nick oxford, mandel ngan
Keywords: news, cnbc, companies, oil, shale, shareholders, gave, week, wanted, sp, simmons, think, bit, production, investors, energy, punished, drillers, stock


Shale oil drillers gave stock shareholders what they wanted, then investors punished them anyway

“Today our dilemma is that as a sector, we have destroyed a lot of trust in the investment community over the last decade.”

That trend came to a head over the last month, when many drillers cut spending and lowered production guidance for 2019.

The title of a recent research note by Simmons Energy summed up the the response: “No Good Deed Unpunished.” Simmons analysts called the reaction from investors “nothing short of punishing.”

Though it’s rallying this week, the SPDR S&P Oil & Gas Exploration and Production exchange-traded fund tumbled 8 percent between the start of the drillers’ earnings season in February and the end of last week. During the same time, the S&P 500 rose 1.4 percent.

But it’s not as simple as saying investors sold the stocks because production growth forecasts fell, said Osmar Abib, chairman of global energy at Credit Suisse. The space is also on shaky ground because investors aren’t yet sure drillers will hold the line on spending.

“I would say it’s a bit of a ‘show me’ situation, and so one quarter isn’t long enough,” he told CNBC on the sidelines of the CERAWeek by IHS Markit energy conference in Houston. “I think investors need to see a little bit more time, a little bit more evidence, and I think there’s still concern that if oil prices go back up, that some of this discipline might erode to a certain degree.”


Company: cnbc, Activity: cnbc, Date: 2019-03-14  Authors: tom dichristopher, ty wright, bloomberg, getty images, david orrell, f carter smith, mary catherine wellons, ali mohammadi, nick oxford, mandel ngan
Keywords: news, cnbc, companies, oil, shale, shareholders, gave, week, wanted, sp, simmons, think, bit, production, investors, energy, punished, drillers, stock


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Ocasio-Cortez’s Green New Deal is not going over well at one of the year’s biggest energy gatherings

One of the threads running through a major energy conference in Houston is how oil and gas companies can cut their carbon footprint and prevent the worst impacts of climate change. Just don’t ask about New York Rep. Alexandria Ocasio-Cortez’s Green New Deal. The freshman Congress member’s sweeping proposal to overhaul the U.S. economy and transition to clean energy is predictably unpopular among energy executives. But even beyond the C-suite, energy thought leaders assembling at CERAWeek by IHS


One of the threads running through a major energy conference in Houston is how oil and gas companies can cut their carbon footprint and prevent the worst impacts of climate change. Just don’t ask about New York Rep. Alexandria Ocasio-Cortez’s Green New Deal. The freshman Congress member’s sweeping proposal to overhaul the U.S. economy and transition to clean energy is predictably unpopular among energy executives. But even beyond the C-suite, energy thought leaders assembling at CERAWeek by IHS
Ocasio-Cortez’s Green New Deal is not going over well at one of the year’s biggest energy gatherings Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: tom dichristopher, ira l black – corbis, getty images, tolga akmen, afp, nick oxford, david orrell, mandel ngan, nerijus adomaitis, matthew busch
Keywords: news, cnbc, companies, oil, houston, plan, energy, largely, deal, think, gatherings, biggest, ocasiocortezs, unrealistic, going, green, members


Ocasio-Cortez's Green New Deal is not going over well at one of the year's biggest energy gatherings

One of the threads running through a major energy conference in Houston is how oil and gas companies can cut their carbon footprint and prevent the worst impacts of climate change.

Just don’t ask about New York Rep. Alexandria Ocasio-Cortez’s Green New Deal.

The freshman Congress member’s sweeping proposal to overhaul the U.S. economy and transition to clean energy is predictably unpopular among energy executives. But even beyond the C-suite, energy thought leaders assembling at CERAWeek by IHS Markit in Houston are largely dismissing the Green New Deal as unrealistic, unworkable and politically divisive.

Instead, the climate talks at CERAWeek have largely focused on the kind of bottom-up, market-oriented solutions that Ocasio-Cortez dismisses as too conservative. Those conversations have largely overshadowed the Green New Deal, which calls for generating 100 percent of the nation’s electric power from renewable sources and largely phasing oil out of the transportation sector in just 10 years.

“I think one of the reasons why you’re not hearing a lot about it is because it’s so unrealistic,” said Mike Sommers, president of the American Petroleum Institute, the industry’s biggest trade group.

“When talking about the Green New Deal, I think for most of our members, yes, they take it seriously from a public relations perspective, but you look at what it actually means, and more than anything, it’s a plan to have a plan right now.”

Yet the oil and gas industry is not the only part of the energy world casting doubt on the Green New Deal in Houston this week.


Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: tom dichristopher, ira l black – corbis, getty images, tolga akmen, afp, nick oxford, david orrell, mandel ngan, nerijus adomaitis, matthew busch
Keywords: news, cnbc, companies, oil, houston, plan, energy, largely, deal, think, gatherings, biggest, ocasiocortezs, unrealistic, going, green, members


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Renewable energy giant Statkraft to test floating solar with new plant

Norway’s Statkraft, one of Europe’s largest producers of renewable energy, is pressing ahead with plans to build its first ever floating solar facility. Its Albanian unit has chosen a Norwegian company, Ocean Sun, to provide it with a floating solar plant in a reservoir in the European country. “Testing new technology for floating solar power panels fits very well with Statkraft’s strategy to grow our renewable energy generation from hydro, wind and solar,” Christian Rynning-Tonnesen, Statkraft’


Norway’s Statkraft, one of Europe’s largest producers of renewable energy, is pressing ahead with plans to build its first ever floating solar facility. Its Albanian unit has chosen a Norwegian company, Ocean Sun, to provide it with a floating solar plant in a reservoir in the European country. “Testing new technology for floating solar power panels fits very well with Statkraft’s strategy to grow our renewable energy generation from hydro, wind and solar,” Christian Rynning-Tonnesen, Statkraft’
Renewable energy giant Statkraft to test floating solar with new plant Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: anmar frangoul, jianfeng gu, eyeem, getty images
Keywords: news, cnbc, companies, statkrafts, statkraft, energy, worldwide, world, floating, technology, state, renewable, giant, solar, test, plant


Renewable energy giant Statkraft to test floating solar with new plant

Norway’s Statkraft, one of Europe’s largest producers of renewable energy, is pressing ahead with plans to build its first ever floating solar facility.

Its Albanian unit has chosen a Norwegian company, Ocean Sun, to provide it with a floating solar plant in a reservoir in the European country. Ocean Sun was set up in 2016 and specializes in floating-solar technology.

The solar park in Albania will be made up of four 0.5 megawatt (MW) units, Statkraft said in an announcement Tuesday. Investment in the project will amount to 2.3 million euros ($2.59 million).

“Testing new technology for floating solar power panels fits very well with Statkraft’s strategy to grow our renewable energy generation from hydro, wind and solar,” Christian Rynning-Tonnesen, Statkraft’s CEO, said in a statement.

“If the technology is proven successful and the potential for cost-competitiveness can be achieved, a wider application of floating solar may take place in other Statkraft locations,” he added.

In October 2018, a report from the World Bank Group and the Solar Energy Research Institute of Singapore stated that the worldwide capacity of floating solar had increased from 10 MW at the end of 2014 to 1.1 gigawatts (GW) by September 2018.

The report went on to state that capacity could potentially reach 400 GW worldwide, although no time frame was provided.

Statkraft said that its floating solar plant would be built during 2019 and 2020, subject to final regulatory approvals. A world leader in hydropower, Statkraft describes itself as “Europe’s largest generator of renewable energy.” Owned by the Norwegian state, it employs 3,600 people across 15 countries.


Company: cnbc, Activity: cnbc, Date: 2019-03-12  Authors: anmar frangoul, jianfeng gu, eyeem, getty images
Keywords: news, cnbc, companies, statkrafts, statkraft, energy, worldwide, world, floating, technology, state, renewable, giant, solar, test, plant


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Some in GOP buck Trump, counter Green New Deal with climate plans

But ever since the New York Democrat began promoting the idea late last year, a growing number of House GOP lawmakers have been increasingly willing to say those four little words: “Climate change is real.” “This is an extremely important subject,” Carter said during a House Energy and Commerce subcommittee on the Environment and Climate Change hearing on February 6, adding that climate change “is real” and is “something that we have to address.” That’s why we back sensible, realistic, and effec


But ever since the New York Democrat began promoting the idea late last year, a growing number of House GOP lawmakers have been increasingly willing to say those four little words: “Climate change is real.” “This is an extremely important subject,” Carter said during a House Energy and Commerce subcommittee on the Environment and Climate Change hearing on February 6, adding that climate change “is real” and is “something that we have to address.” That’s why we back sensible, realistic, and effec
Some in GOP buck Trump, counter Green New Deal with climate plans Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: allan smith, alex wong, getty images news, getty images, saul loeb, afp, simon dawson, bloomberg, matthew busch, roger wright
Keywords: news, cnbc, companies, scientists, ranking, climate, energy, house, member, deal, buck, republicans, plans, change, subcommittee, gop, trump, green, counter


Some in GOP buck Trump, counter Green New Deal with climate plans

Republicans have trashed the Green New Deal — Rep. Alexandria Ocasio-Cortez’s proposal to eliminate greenhouse gas emissions and create a renewable energy economy — as unrealistic, unaffordable and ill-conceived.

But ever since the New York Democrat began promoting the idea late last year, a growing number of House GOP lawmakers have been increasingly willing to say those four little words: “Climate change is real.” And they’re warning the rest of their party that Republicans must push for alternative solutions before it’s too late.

Reps. John Shimkus (R-Illinois), the ranking member of the House Energy and Commerce’s Environment and Climate Change subcommittee, Billy Long (R-Missouri), Bill Flores (R-Texas), Buddy Carter (R-Georgia) and Anthony Gonzalez (R-Ohio), among others, made their views plain during a pair of hearings on the topic in early February.

“This is an extremely important subject,” Carter said during a House Energy and Commerce subcommittee on the Environment and Climate Change hearing on February 6, adding that climate change “is real” and is “something that we have to address.”

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Shimkus, along with Rep. Greg Walden (R-Oregon), the ranking member of the Energy and Commerce Committee, and Fred Upton (R-Michigan), the ranking member of the House Energy and Commerce’s Energy subcommittee, argued in a Feb. 13 opinion article that the Green New Deal would have “potentially devastating consequences on our national debt and on our economy.”

“Americans deserve better. That’s why we back sensible, realistic, and effective policies to tackle climate change,” they wrote.

It’s a position that contradicts President Donald Trump, who continues to doubt the veracity of climate science — so much so that his administration plans to name a group of selected scientists to reassess it’s earlier dire analysis of climate change. According to The Washington Post, the group of scientists would include those who question just how severe climate change really is and the extent to which humans contribute to it. According to Bloomberg, the Trump administration will seek drastic cuts to the Department of Energy’s renewable energy budget as part of the president’s fiscal year 2020 budget request, set to be released Monday.

But polling shows the Republican Party’s aversion to acknowledging climate change is increasingly falling out of favor. An NBC News/Wall Street Journal poll released on March 4 showed that 63 percent of adults felt that the GOP’s positions on climate change were outside the mainstream, compared to 54 percent who said so when asked in October 2015. On fiscal issues, immigration and abortion — three other issues that adults were asked about in both the polls — the difference between 2015 and 2019 was negligible or nonexistent.


Company: cnbc, Activity: cnbc, Date: 2019-03-11  Authors: allan smith, alex wong, getty images news, getty images, saul loeb, afp, simon dawson, bloomberg, matthew busch, roger wright
Keywords: news, cnbc, companies, scientists, ranking, climate, energy, house, member, deal, buck, republicans, plans, change, subcommittee, gop, trump, green, counter


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Microsoft to buy energy from 74-megawatt solar power facility in North Carolina

Microsoft has signed a 15-year power purchase agreement for the energy produced by a 74-megawatt solar power facility in North Carolina. The Wilkinson Solar Energy Center will be built, owned and operated by Invenergy, the companies said in a joint announcement Wednesday. The deal means that Microsoft’s renewable energy portfolio will stand at more than 1.3 gigawatts, the statement added. Microsoft is one of many big tech companies turning to renewable sources of energy. At the time, the busines


Microsoft has signed a 15-year power purchase agreement for the energy produced by a 74-megawatt solar power facility in North Carolina. The Wilkinson Solar Energy Center will be built, owned and operated by Invenergy, the companies said in a joint announcement Wednesday. The deal means that Microsoft’s renewable energy portfolio will stand at more than 1.3 gigawatts, the statement added. Microsoft is one of many big tech companies turning to renewable sources of energy. At the time, the busines
Microsoft to buy energy from 74-megawatt solar power facility in North Carolina Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: anmar frangoul, vesa moilanen, afp, getty images
Keywords: news, cnbc, companies, power, solar, energy, microsoft, sustainability, 74megawatt, renewable, microsofts, clean, north, buy, carolina, facility, companies


Microsoft to buy energy from 74-megawatt solar power facility in North Carolina

Microsoft has signed a 15-year power purchase agreement for the energy produced by a 74-megawatt solar power facility in North Carolina.

The Wilkinson Solar Energy Center will be built, owned and operated by Invenergy, the companies said in a joint announcement Wednesday.

The deal means that Microsoft’s renewable energy portfolio will stand at more than 1.3 gigawatts, the statement added.

The new facility is due to commence commercial operations in 2019, while it’s estimated that more than 500 jobs are set to be created during its construction.

“When we invest in renewable energy, we are investing in the future — enabling sustainable growth of our business, of the clean energy sector and the local communities that benefit economically from Microsoft’s commitment to sustainability,” Brian Janous, general manager of Energy and Sustainability at Microsoft, said Wednesday.

Microsoft is one of many big tech companies turning to renewable sources of energy.

In October 2017, for instance, Amazon announced that its Amazon Wind Farm Texas was operational. At the time, the business said the facility would add over 1 million megawatt hours of clean energy to the grid annually.


Company: cnbc, Activity: cnbc, Date: 2019-03-07  Authors: anmar frangoul, vesa moilanen, afp, getty images
Keywords: news, cnbc, companies, power, solar, energy, microsoft, sustainability, 74megawatt, renewable, microsofts, clean, north, buy, carolina, facility, companies


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Why Bezos and Microsoft are betting on this $10 trillion energy fix for the planet

Mowry said General Fusion has built all the components to create a reactor, but now it needs to develop a prototype, which will take five years. It will take more time after that to build full-scale plants that can be used to power entire cities. In partnership with MIT, it is creating magnets out of rare-Earth barium copper oxide, which is a recently commercialized superconducting material. “We need to design the next-generation machine … that can produce more fusion power than energy needed


Mowry said General Fusion has built all the components to create a reactor, but now it needs to develop a prototype, which will take five years. It will take more time after that to build full-scale plants that can be used to power entire cities. In partnership with MIT, it is creating magnets out of rare-Earth barium copper oxide, which is a recently commercialized superconducting material. “We need to design the next-generation machine … that can produce more fusion power than energy needed
Why Bezos and Microsoft are betting on this $10 trillion energy fix for the planet Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: bryan borzykowski, afp, getty images, general fusion, lockheed martin, -christofer mowry, ceo of general fusion
Keywords: news, cnbc, companies, trillion, mowry, betting, martin, planet, need, creating, fusion, fix, components, energy, power, microsoft, bezos, needs, reactor, mit


Why Bezos and Microsoft are betting on this $10 trillion energy fix for the planet

It’s still an open question as to if, and when, fusion can be commercialized. Mowry said General Fusion has built all the components to create a reactor, but now it needs to develop a prototype, which will take five years.

“Using a car analogy, we built an engine, the transmission and the wheels; now we have to put it together and drive it down the road at full size,” he said.

It will take more time after that to build full-scale plants that can be used to power entire cities. If this were football, Mowry said he’d be on the 25-yard line.

Other companies have made varying degrees of progress. For instance, Commonwealth Fusion Systems, a commercial enterprise spun off by MIT, is about seven years away from creating a more energy-efficient Tokamak reactor.

In partnership with MIT, it is creating magnets out of rare-Earth barium copper oxide, which is a recently commercialized superconducting material. Could this be the ticket?

“We need to design the next-generation machine … that can produce more fusion power than energy needed to heat it,” said Dr. Martin Greenwald, deputy director of the MIT Plasma Science and Fusion Center. “We think we can do that in a relatively short amount of time.”

Even when its components are created — it is currently in the R&D phase and likely won’t start building components for another two-and-a-half years, said Greenwald — it will still need to create a pilot plant to see if it works. Then it needs to commercialize it, he said.

Lockheed Martin, with its decades of engineering experience and government connections, hopes to unlock fusion’s power by creating a compact reactor that’s 10 times smaller than existing reactors. It will be so small that it will fit on the back of a truck, it says on its website.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: bryan borzykowski, afp, getty images, general fusion, lockheed martin, -christofer mowry, ceo of general fusion
Keywords: news, cnbc, companies, trillion, mowry, betting, martin, planet, need, creating, fusion, fix, components, energy, power, microsoft, bezos, needs, reactor, mit


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These seven stocks have done the worst in the 10-year bull market

When stocks hit bottom just before the start of the bull market 10 years ago, Wall Street was littered with financial crisis losers, many trading in the single digits. Several of them are in the energy sector, the industry group that has had the lowest price appreciation since the S&P’s low close on March 9, 2009. GE, AT&T and Campbell Soup, all household names, also made the list of the bottom 25 performers. Some stocks in the bottom 25 have seen double digit moves off the bottom, but the stock


When stocks hit bottom just before the start of the bull market 10 years ago, Wall Street was littered with financial crisis losers, many trading in the single digits. Several of them are in the energy sector, the industry group that has had the lowest price appreciation since the S&P’s low close on March 9, 2009. GE, AT&T and Campbell Soup, all household names, also made the list of the bottom 25 performers. Some stocks in the bottom 25 have seen double digit moves off the bottom, but the stock
These seven stocks have done the worst in the 10-year bull market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: patti domm, gina francolla, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, sp, sector, seven, stocks, 10year, energy, close, price, list, soup, 25, bull, 2009, worst, market


These seven stocks have done the worst in the 10-year bull market

When stocks hit bottom just before the start of the bull market 10 years ago, Wall Street was littered with financial crisis losers, many trading in the single digits.

CNBC looked at the price performance of S&P 500 members that have been publicly traded since the dark days of the financial crisis and found a short list of stocks that have actually declined in price since March 2009. Several of them are in the energy sector, the industry group that has had the lowest price appreciation since the S&P’s low close on March 9, 2009.

The stock that lagged the most from then to now is internet provider CenturyLink, down 49 percent, followed by energy company Apache, down 34 percent, mining company Mosaic, down nearly 26 percent, and Devon Energy, down 25 percent. All prices were as of Tuesday’s close.

GE, AT&T and Campbell Soup, all household names, also made the list of the bottom 25 performers. AT&T is up 38 percent from its $29.75 close on March 9, 2009. General Electric is up 39 percent, and Campbell Soup is up 41 percent.

Some stocks in the bottom 25 have seen double digit moves off the bottom, but the stocks that top the winners’ list have had huge gains, like Ulta, up 7,160 percent, or Netflix, up 6,632 percent.

The S&P 500 had hit an intraday bottom of 666, on March 6, 2009, but its low close was 676 a few days later on March 9.

Since that March 9 close, the S&P energy sector has gained 56 percent, while stocks in the top performing sector, consumer discretionary, rose 598 percent. Technology also snapped back strongly, with a gain of 522 percent and financials rose 422 percent.

Based on closing prices March 5, 2019

Correction: This story was revised to delete an incorrect reference in a summary that Nobel Energy was among the stocks that have lost ground in the past decade and to correct that Apache is down 34 percent in that time span.

— CNBC’s Fred Imbert contributed to this story.


Company: cnbc, Activity: cnbc, Date: 2019-03-06  Authors: patti domm, gina francolla, michael nagle, bloomberg, getty images
Keywords: news, cnbc, companies, sp, sector, seven, stocks, 10year, energy, close, price, list, soup, 25, bull, 2009, worst, market


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Saudi Aramco says electric vehicles won’t heavily impact oil demand

The world’s largest energy company says the electrification of vehicles isn’t anywhere near ready to overtake the traditional engine in the transport sector. The transport industry accounts for more than half of oil demand and last year Morgan Stanley forecast that by 2025 there could be 36 million electric vehicles on the road globally. Meanwhile, the state-owned oil giant Saudi Aramco produces roughly 10 million barrels of crude a day, suggesting that any fall in demand could be highly damagin


The world’s largest energy company says the electrification of vehicles isn’t anywhere near ready to overtake the traditional engine in the transport sector. The transport industry accounts for more than half of oil demand and last year Morgan Stanley forecast that by 2025 there could be 36 million electric vehicles on the road globally. Meanwhile, the state-owned oil giant Saudi Aramco produces roughly 10 million barrels of crude a day, suggesting that any fall in demand could be highly damagin
Saudi Aramco says electric vehicles won’t heavily impact oil demand Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: david reid
Keywords: news, cnbc, companies, oil, engine, wont, traditional, transport, vehicles, heavily, electric, saudi, energy, ice, source, demand, impact, aramco


Saudi Aramco says electric vehicles won't heavily impact oil demand

The world’s largest energy company says the electrification of vehicles isn’t anywhere near ready to overtake the traditional engine in the transport sector.

The transport industry accounts for more than half of oil demand and last year Morgan Stanley forecast that by 2025 there could be 36 million electric vehicles on the road globally. Further analysis at IHS Markit claimed that 30 percent of new car sales by 2040 would be electric. The switch from gasoline and diesel cars to electric powertrains has led some to suggest that global oil consumption could fall.

Meanwhile, the state-owned oil giant Saudi Aramco produces roughly 10 million barrels of crude a day, suggesting that any fall in demand could be highly damaging to the business.

But Chief Technology Officer, Ahmad Al Khowaiter, told CNBC’s Annette Weisbach at the Geneva Motor Show Tuesday that electrification is not about to defeat the internal combustion engine (ICE) any time soon.

“The consensus from forecasters is that the internal combustion engine will be with us for decades to come,” he said, before adding “We are still expecting 90 percent of vehicles to be driven by ICE by the mid-century.”

Al Khowaiter is at the Geneva International Motor Show in a bid to showcase how his firm can help bring down emissions in a traditional ICE engine. He argued that, at least in the medium term, making gasoline and diesel engines more efficient would be the best way to reduce emissions.

“We see a lot of value in improving the efficiency of the ICE which is a primary source of energy for much of what we are talking about. So even electrified vehicles get their source of energy from a power plant somewhere,” he said.

The executive said Saudi Aramco views working with the auto industry on reducing emissions as part of its “responsibility.”


Company: cnbc, Activity: cnbc, Date: 2019-03-05  Authors: david reid
Keywords: news, cnbc, companies, oil, engine, wont, traditional, transport, vehicles, heavily, electric, saudi, energy, ice, source, demand, impact, aramco


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