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  • NEW YORK/ BEIJING, Aug 17- Recent news from China makes depressing reading for commodities producers, with a slowing economy, tumbling stock prices and a currency devaluation all signaling weaker demand. China's a place where everyone looks and says,' what if, "' said Jordan Fife, a merchant with BioUrja Trading LLC in Houston. State-run grain trader China National...

  • Discussions in the House of Representatives and Senate gained new urgency this week, amid heightened fears of a looming air disaster, after the Federal Aviation Administration reported a spike in drone sightings near crewed aircraft, including commercial airliners. U.S. pilots have reported more than 650 drone sightings so far this year, as of Aug. 9, compared...

  • A torrent of $44 billion in high-yield debt and share sales in the first half of this year has slowed to a trickle with oil now at just above $42 a barrel, 30 percent below its June levels and 60 percent down from June 2014, and a more pessimistic view taking hold that global oversupply could keep oil cheap for years. "The capital markets showed up in force in the first...

  • Aug 13- The Texas power grid operator on Thursday asked consumers to reduce electric use during the afternoon hours as power plant outages and heavy air conditioning usage has strained the electric system during a brutal heat wave. Peak demand in the Electric Reliability Council of Texas, which operates the power grid in most of the state, hit an all-time high of...

  • Aug 13- Drilling contractor Hercules Offshore Inc said it filed for Chapter 11 bankruptcy as demand from oil and gas producers and explorers drops due to weak prices. The Houston- based company will also get $450 million of debt financing from some noteholders. The financing will allow the company to pay for a new high-specification rig, Hercules Highlander,...

  • DUBAI, Aug 11- Emirates Airline said on Tuesday that Gulf airlines were not to blame for overcapacity on services between the United States and Dubai, rejecting comments at the weekend by U.S. carrier Delta Air Lines. Delta said on Sunday that it was reducing flights between Atlanta and Dubai this winter, blaming overcapacity on U.S. routes to the Middle East by...

  • HOUSTON, Aug 7- Business is so tough for oilfield giants Schlumberger NV and Halliburton Co that they have come up with a new sales pitch for crude producers halting work in the worst downturn in years. At Halliburton, some of the capital to finance the sales will come from $500 million in backing from asset manager BlackRock, part of a wave of alternative finance...

  • WASHINGTON, Aug 7- The number of U.S. jobs probably rose at a healthy pace in July and wages likely rebounded in data due on Friday, providing further signs of an improving economy that could allow the Federal Reserve to raise interest rates in September. The Labor Department will release its closely watched employment report on Friday at 8:30 a.m..

  • HOUSTON, Aug 7- Business is so tough for oilfield giants Schlumberger NV and Halliburton Co that they have come up with a new sales pitch for crude producers halting work in the worst downturn in years. At Halliburton, some of the capital to finance the sales will come from $500 million in backing from asset manager BlackRock, part of a wave of alternative finance...

  • SAO PAULO, Aug 6- Brazilian prosecutors on Thursday presented formal charges against Jorge Zelada, the former head of state-run oil firm Petrobras' international division, and five others, saying they favored U.S. company Vantage Drilling in a rig contract. The prosecutor's office said that in exchange, Petrobras officials improperly favored Vantage...

  • Aug 6- The Texas power grid operator said electric demand was at an all-time peak as consumers cranked up their air conditioners to escape a brutal heat wave, breaking the previous record set four years ago and pushing prices to an 18- month high. Next-day power prices at the Ercot North hub on the IntercontinentalExchange jumped from $66 per megawatt hour for...

  • Aug 6- Apache Corp on Thursday reported a nearly $6 billion quarterly loss as a slump in oil prices led the U.S. energy company to write down the value of some assets. The Houston company posted a second-quarter loss of $5.6 billion, or $14.83 a share, compared with a year-earlier profit of $505 million, or $1.31 per share. Excluding a $3.7 billion writedown of assets...

  • Texas power demand breaks 2011 record during heat wave Thursday, 6 Aug 2015 | 8:27 AM ET

    Aug 6- The Texas power grid operator said demand for electricity hit an all-time record as consumers cranked up air conditioners to escape a brutal heat wave on Wednesday, breaking the previous record set four years ago. Temperatures in Houston, the biggest city in Texas, hit 98 degrees Fahrenheit on Wednesday and were expected to hit or exceed 100 degrees every...

  • Aug 5- Chesapeake Energy Corp swung to a quarterly loss on Wednesday from a year ago and shares fell as much as 10 percent as worries about hefty debt and spending at the No. 2 U.S. natural gas producer linger amid low prices. Chesapeake's capital expenditures of $960 million in the second quarter exceeded some expectations and long-term debt was $10.66 billion, up...

  • LONDON, Aug 5- After slashing spending by $180 billion to deal with one of the worst industry downturns in decades, oil companies are still bleeding cash and slipping further into debt to maintain dividends to shareholders. The International Energy Agency said in February it saw it recovering to $73 in 2020 as the supply glut slowly eases. Analysts at investment...

  • Frederick Alan Voight, 58, and his firm DayStar Funding LP agreed to pay civil penalties and return alleged illegal gains in sums to be set by a federal judge, the SEC said. The SEC said this included $13.8 million raised since October from at least 260 U.S. investors to fund InterCore's installation of its Driver Alertness Detection System, or DADS, technology in "...

  • Aug 3- Oil and gas producer Noble Energy Inc reported a better-than-expected quarterly profit as higher production helped offset the impact of a slump in crude prices. The company said in May it would acquire Rosetta Resources Inc for about $2 billion to enter the Eagle Ford Shale and Permian Basin in Texas. The company reported a net loss of $109 million, or 28...

  • Aug 3- Diamond Offshore Drilling Inc, one of the world's top-five offshore rig contractors, reported a much higher-than-expected quarterly profit, helped by demand for its high-tech ultra-deepwater rigs and a drop in operating costs. Diamond Offshore, majority owned by U.S. conglomerate Loews Corp, said on Monday that revenue from its ultra-deepwater...

  • QUITO, July 31- Ecuador's state oil company Petroecuador has signed a crude oil supply agreement with a division of Thailand's state-run PTT under which the Andean country will receive a $2.5 billion up-front payment, according to a statement from the company. Petroecuador International Trade Manager Nilsen Arias confirmed the deal to Ecuador's El...

  • July 31- Weak oil prices shriveled quarterly profit at Exxon Mobil Corp and Chevron Corp on Friday, compelling both companies to rethink operations and plan for what many expect to be a sustained period of cheap crude. Evan Calio, an analyst with Morgan Stanley, said on Exxon's earnings conference call that the oil giant appeared to be less vocal than its peers...