Tesla Faces New Sales Challenges In Germany

Germany has dropped Tesla Model S from its list of electric vehicles eligible to receive tax rebates as of November 30, in a move that is seen as stirring a fresh row between the government and the U.S. EV maker over whether Tesla Model S was too expensive to qualify for the incentives. Under an ambitious plan to boost EV sales to 1 million vehicles by 2020 from around 50,000 pure battery-powered EVs last year, the German government launched new incentives and tax breaks in the spring of 2016. The plan, which would cost US$1.19 billion (1 billion…

Tesla Powers Up World’s Biggest Battery

The world’s biggest lithium ion battery, built by Tesla, was switched on on Friday in South Australia, ahead of the State Government’s deadline of the beginning of the summer, and well ahead of Tesla CEO Elon Musk’s self-imposed deadline of “100 days or it’s free.” The Tesla powerpacks connected to Neoen’s Hornsdale windfarm are already operational and delivering power to the National Energy Market, the South Australia Government said in a statement. In this venture, Tesla delivered as promised, and well…

Goldman: Oil Markets Are Nervous For No Reason

The extension of the OPEC/non-OPEC production cut pact through to the end of 2018, and especially the fact that the cartel and allies included an option to review progress in June, reduces the risk of both sudden supply surges and excessive drawdowns, Goldman Sachs says, noting that investor anxiety is higher than it should be. The lowered risk of sudden sharp movements in supply and inventory drops “leads us to reiterate our view that long-dated implied volatility remains too rich,” Goldman Sachs analysts including Damien Courvalin…

Blockchain Isn’t The Only Tech Disrupting Global Energy

Digital disruption may be one of the most overused buzzwords these days, but the world is going increasingly digital and disruption is everywhere—we have drones delivering pizzas and home gadgets connected to our phones. Digitalization has so profoundly changed our lives that it’s inevitable that’s also transforming all industries and the ways product manufacturers and service providers and consumers interact. The energy sector is no exception to this trend, and is seeing various changes in production and distribution thanks to…

Senators Call For Investigation Of Enbridge Pipeline

U.S. Senators Debbie Stabenow and Gary Peters of Michigan are raising serious concerns about the conditions of Enbridge’s Line 5 Pipeline running through the Straits of Mackinac and are seeking a federal investigation to determine if Enbridge has complied with reporting and safety standards. Following reports that Enbridge did not disclose problems in the protective coating of Line 5 for more than three years, the Senators are asking the Pipeline and Hazardous Materials Safety Administration (PHMSA) “to determine whether Enbridge committed…

Citi: Don’t Expect OPEC To Extend Production Cuts

Citigroup predicts that companies planning to profit off of an OPEC deal extension next month are setting themselves up to be disappointed. So far, most hedge funds bet that Brent futures will rise as a result of an agreement extension that will extend 1.2 million barrels per day worth of cuts through 2018. The bloc’s November 30th meeting in Vienna may not deliver its public promises though, the bank says. “There is an exuberance in the market about there being a done deal to extend through the end of 2018 and I think there’s…

Senators Call For Investigation Of Enbridge Pipeline

U.S. Senators Debbie Stabenow and Gary Peters of Michigan are raising serious concerns about the conditions of Enbridge’s Line 5 Pipeline running through the Straits of Mackinac and are seeking a federal investigation to determine if Enbridge has complied with reporting and safety standards. Following reports that Enbridge did not disclose problems in the protective coating of Line 5 for more than three years, the Senators are asking the Pipeline and Hazardous Materials Safety Administration (PHMSA) “to determine whether Enbridge committed…

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…

Senators Call For Investigation Of Enbridge Pipeline

U.S. Senators Debbie Stabenow and Gary Peters of Michigan are raising serious concerns about the conditions of Enbridge’s Line 5 Pipeline running through the Straits of Mackinac and are seeking a federal investigation to determine if Enbridge has complied with reporting and safety standards. Following reports that Enbridge did not disclose problems in the protective coating of Line 5 for more than three years, the Senators are asking the Pipeline and Hazardous Materials Safety Administration (PHMSA) “to determine whether Enbridge committed…

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…