*DuPont's earnings forecast, job cuts weigh on oil. Chemical company DuPont lowered its earnings forecast, announced 1,500 job cuts and posted lower-than-expected profit, helping push equities, oil and other commodities lower.
*DuPont's earnings forecast, job cuts weigh on oil. Chemical company DuPont cuts its earnings forecast and announced 1,500 job cuts in its third-quarter earnings report that missed Wall Street expectations, helping push equities, oil and other commodities lower.
Benchmark oil fell $2.05 to finish at $90.05 per barrel in New York. Brent crude, which is used to price international varieties of oil, dropped $2.28, or 2 percent, to end at $110.14 per barrel in London. Several companies delivered weaker-than-expected third-quarter results, including Microsoft and McDonald's.
The price of oil is falling after TransCanada reaffirmed plans to restart a pipeline this weekend that carries crude from Canada to the Midwest. TransCanada closed the 2,100- mile pipeline Wednesday after tests showed possible safety issues.
By early afternoon in Europe, benchmark crude for November delivery was up 36 cents to $92.46 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, which many U.S. refiners use to make gasoline, was up 40 cents to $112.82 a barrel on the ICE Futures exchange in London.
TransCanada has reaffirmed its plan to restart the Keystone oil pipeline from Canada to the Midwest on Saturday, although rainy weather is hampering the company's on-site work. TransCanada shut down the 2,100- mile pipeline Wednesday after tests showed possible safety issues.
KANSAS CITY, Mo.-- TransCanada Corp. has temporarily shut down its existing 2,100- mile Keystone pipeline after tests showed possible safety issues, a federal agency said Thursday.
SUMNER, Texas-- Oil has long lived in harmony with farmland and cattle across the Texas landscape, a symbiosis nurtured by generations and built on an unspoken honor code that allowed agriculture to thrive while oil was extracted. In the minds of some landowners approached by TransCanada for land, the company has broken the code.
The governor said earlier this year that the 2013 Legislature could take up gas tax legislation if TransCanada Corp. and the North Slope's major players _ Exxon Mobil Corp., BP and ConocoPhillips _ met a number of milestones in 2012. All of those benchmarks have been met, including cost estimates and a rough timeline for a potential project.
Such a move would force the new Astoria plant to boost its offer price for capacity, leading to major power price increases that would harm consumers, the New York Public Service Commission said in a release Thursday.
Oct 11- TransGlobe Energy Corp:. *Says Q3 average production of 18,145 bopd. *Says 2012 guidance for production remains unchanged.
HOUSTON-- Actress Daryl Hannah of "Splash" fame was arrested in northeast Texas on Thursday, along with a 78- year-old landowner as the pair protested an oil pipeline designed to bring crude from Canada to the Gulf Coast.
SAN ANTONIO, Oct 4- Actress Daryl Hannah was arrested in Texas on Thursday after she stood in front of an earth-moving machine clearing ground for the construction of the controversial Keystone XL pipeline, her representative said.
ANCHORAGE, Alaska, Oct 4- A pipeline and plant that would ship natural gas from Alaska's North Slope to international markets could cost between $45 billion and $65 billion, according to the companies pursuing the "mega-project." and partners BP Plc and ConocoPhillips-- and Canadian pipeline operator TransCanada Corp..
Oct 4- Oil companies putting together plans for a new "megaproject" to ship liquefied natural gas abroad from Alaska estimated the cost will run between $45 billion and $65 billion, according to a letter sent to the state governor, Sean Parnell. and ConocoPhillips agreed to work together with TransCanada Corp on the project.
*Parliament held an emergency debate Wednesday night on how to respond to an E. coli outbreak that has triggered the country's largest beef recall and sent the Harper government scrambling to defend the safety of Canada's food supply.
JUNEAU, Alaska-- A liquefied natural gas project in Alaska could cost more than $65 billion and would represent a mega-project of "unprecedented scale and challenge," officials behind the project told Gov.
Maury Fertig, CIO of Relative Value Partners and Sandy Lincoln, investment strategist at M&A Investment Management offered a couple value plays for investors.
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