Articles

Employee Pay Rises in Oil Sector

It was a fruitful year for the rank and file at oil-and-gas companies, from Exxon Mobil Corp. to Phillips 66.
 Oil-and-gas drillers and refiners had some of the highest- paid median workers in the energy and utility sectors in 2018, according to The Wall Street Journal analysis of annual pay disclosures for hundreds of big U.S. companies as provided by MyLogIQ.

Oil Falls for Second Straight Week

Oil rose slightly Friday after a strong U.S. jobs report, but finished lower for a second consecutive week amid growing concerns about bulging domestic oil inventories.
 West Texas Intermediate futures, the U.S. oil benchmark, ended 0.2% higher at $61.94 a barrel on the New York Mercantile Exchange. Prices ended the week 2.1% lower, and Friday's close was just 13 cents above Thursday's one-month low of $61.81 a barrel.

Oil Soars as U.S. Aims to Block Iran Sales

Oil prices hit a near six month high as the U.S. government moved to halt all Iranian oil exports, eliminating a key revenue source for the Islamic Republic.
 West Texas Intermediate futures, the U.S. oil benchmark, rose 2.7% to $65.70 a barrel—their highest close since late October. Brent crude, the global oil benchmark, advanced 2.9% to $74.04 a barrel.

Japanese Firms Chase Lunar Opportunities

TOKYO — For Japan's tiny startup scene, space is the bold new frontier. On Wednesday, ispace Inc., a Japanese company that wants to send hundreds of robots to map, mine and make deliveries to the moon, said it has reserved space on SpaceX rockets due for launch in mid-2020 and mid-2021. Its goal is to build a business around the missions needed to create a 1,000-person industrial city on the moon by 2040.

Europe Opens Up to Other Gas Suppliers

European efforts to import more liquefied natural gas are starting to pay off, moving the region further away from Russia's energy orbit and potentially creating more opportunities for U.S. producers.
 Shifting to LNG has been a significant turning point for countries such as Lithuania and Poland, whose energy bills have fallen since they built LNG terminals in 2014 and 2016, respectively.

Clean Energy Bill Gains in California

California advanced legislation Tuesday that would make it the first large state to mandate completely carbon-free electricity generation, with a target of 2045.
 If signed into law by Gov. Jerry Brown, the bill would keep the nation's most populous state at the forefront of environmental regulation trends and could have a big impact on electricity generation beyond California's borders. In 2017, California imported roughly 30% of its electricity generation, according to state data.

More Oil Is Coming No Matter How OPEC Drama Unfolds

OPEC is back to its squabbling ways after an unusual period of harmony. But investors who are bidding up oil prices in the expectation of a split are misunderstanding both the history of the cartel and the current state of the oil market.
 With the Organization of the Petroleum Exporting Countries meeting at the end of the week, the squabble is between the organization's heavyweight, Saudi Arabia, and three of the

Canal Gets Boost From LNG Trade

ATHENS — Ships moving natural- gas and petroleum-product exports from the U.S. are the fastest-growing business for the Panama Canal, with annual revenue from tolls for the shipments growing more than 20 times over the past two years.
 Liquefied-natural-gas shipments from U.S. energy producers in Texas took off in 2016 when the waterway expanded its locks against the backdrop of increasing demand from customers in China, South Korea, Mexico and Japan, mainly for clean power generation.

Crude Claws Back Ahead of OPEC Meeting

Oil prices rose as traders tempered expectations for the size of production increases from OPEC.
 Light, sweet crude for July delivery advanced 1.2%, to $65.85 a barrel, on the New York Mercantile Exchange on Monday, recovering last week's losses.
 Brent crude, the global benchmark, gained 2.6%, to $75.34, on ICE Futures Europe.
 The Organization of the Petroleum Exporting Countries and its allies will meet on Friday,

Green-Power King Thrives On Government Subsidies

Who is the world's largest operator of wind and solar farms? It's also America's most valuable power company. Still stumped? It's by design.
 “That is a marketing problem…that we foster intentionally,” Michael O'Sullivan, NextEra Energy Inc.'s head of renewable development, told University of Notre Dame students in 2015.
 The Florida company has grown into a green Goliath, almost entirely under the radar, not through taking on heavy debt to expand or by touting its greenness, but by relentlessly capitalizing on government support for renewable energy, in particular the tax