Utilities see risks, rewards in cryptocurrency power demand
With huge power demands and a highly competitive industry, miners of cryptocurrencies such as Bitcoin are constantly searching for cheap electricity.
Cyberrisk to oil, gas assets increases as new hacking group emerges, Dragos says
The risk to oil and gas infrastructure from attacks on computer control systems is on the rise with the discovery of another group that targets energy and telecommunications assets and with established hackers updating tactics, according to a report.
Contura, others selected as winners in Blackjewel coal bankruptcy auction
Pending court approval, Contura Energy Inc. secured the winning bid for three mines sold in the bankruptcy auction of Blackjewel LLC; several other producers bid on the remaining assets of the U.S. coal company.
Analyst darling Concho smarting from harsh Q2 reviews
Concho Resources Inc.'s second-quarter earnings call was a less than enjoyable one for the company as its leadership announced that it would be reducing production in the second half and had made some major mistakes in developing the Permian Basin's Wolfcamp Shale.
"These waste sites were originally selected for the convenience of the company, not for suitability for permanent waste disposal — as a result, they are in some of the least suitable locations imaginable," The Southern Environmental Law Center said in testimony submitted to Georgia regulators on Georgia Power Co.'s proposal to leave industrial waste in place at nine unlined coal ash ponds in Georgia.
* Virginia regulators granted cost recovery of environmental upgrades at certain Dominion Energy Virginia power plants while denying recovery of costs for work at two coal units.
* The U.S. Energy Department plans to study the impacts of building a versatile test reactor. Energy Secretary Rick Perry said this testing capability is necessary to modernize the country's nuclear energy infrastructure.
* Arizona Public Service Co. continues to assert that it needs more gas-fired plants to meet future demand, but in a preliminary 2019 integrated resource plan filed with state regulators Aug. 1, the company did not specify how much new fossil-fueled capacity it needs to meet projected needs of thousands of new customers.
* South Carolina regulators tapped Pegasus Global Holdings to assist in developing new rules for solar energy in the state, The Post and Courier of Charleston, S.C., reported. The move has drawn criticism from state lawmakers and the solar industry because Pegasus reportedly has "deep ties" to investor-owned power companies.
* A U.S. appeals court referred to the Supreme Court of Florida a case that could determine whether utilities operating in the Sunshine State can claw back a special class of litigation costs from construction companies that damage underground lines.
* Williams Cos. Inc. and Global Infrastructure Partners are collaborating to potentially buy Noble Midstream Partners LP and take the master limited partnership private, Bloomberg reported.
* Ergon Inc. has offered to buy all outstanding common units and series A preferred units of Blueknight Energy Partners LP that it does not already own. Ergon is proposing to pay $1.35 per common unit and $5.67 per series A preferred unit.
* Australia is negotiating to gain access to U.S. oil stockpile to avoid running out of gas, The Wall Street Journal reported.
* Delek US Holdings Inc. executives said investments toward growing logistics EBITDA will not interfere with capital returns to shareholders.
* The Standing Rock Sioux filed a request with North Dakota regulators, seeking a hearing on Energy Transfer LP's plan to double the capacity of the Dakota Access Pipeline, according to The Associated Press.
* New governmental policies, including carbon pricing, as well as increased investments in renewables and technologies are essential for the world to meet emission reductions and climate goals outlined in the Paris Agreement on climate change, consultancy group Wood Mackenzie said in a new report.
* Weatherford International PLC received court approval to access the remaining $250 million from its debtor-in-possession financing.
* A Royal Dutch Shell PLC spokeswoman told Reuters that the oil major is exploring the possibility of installing solar panels at its Pulau Bukom manufacturing site in Singapore.
* Cambrian Coal Corp.'s official committee of unsecured creditors filed a limited objection with a federal bankruptcy court asking it not to provide the coal producer with "unfettered authority" to enter into a stalking horse agreement.
* BNSF Railway Co. reported a 3.1% decline in coal revenue in the second quarter to $883 million from $911 million in the year-ago period.
* KenAmerican Resources Inc. has called off search and recovery efforts for Richard Knapp, a worker at its Paradise Mine in Bremen, Ky., according to a report by KYDEP. Knapp fell into a mine shaft, following methane gas explosions.
* China could see an increase in coal consumption in the coming years, given a surge in approvals for new coal mine constructions in the country, Reuters reported, citing government documents.
The heat wave that swept across the U.S. in mid-July drove natural gas consumption for power generation to a record high as demand for air conditioning soared, the U.S. Energy Information Administration said Aug. 5.
New from RRA
* The Kansas Corporation Commission recently adopted a settlement, with a minor modification, in Docket No. 19-EPDE-223-RTS that provides for Algonquin Power & Utilities Corp. subsidiary Empire District Electric Co.'s base rates to remain unchanged. The new rates take effect Aug. 1.
The day ahead
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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