Wall Street set to open higher on earnings, M&A

U.S. stocks were set for a higher open on Monday as merger activity and solid earnings, including Exxon Mobil, overshadowed concerns about the possible spread of unrest in Egypt to other parts of the Middle East. Alpha Natural Resources said on Saturday it agreed to a $7.1 billion deal to buy Massey Energy Co, which would create the second largest... 

Reliant Energy Closes on Previously Announced Sale of Northeastern Marketing Assets to Hess Corporation

Reliant Energy has completed the previously announced sale of the Northeastern electricity marketing assets of its retail subsidiaries, Reliant Energy Solutions East and Reliant Energy Solutions Northeast, to Hess Corporation. Reliant Energy, Inc. based in Houston, provides electricity and energy services to retail and wholesale customers in the United... 

Alpha Natural Resources Donates $25,000 to The Nature Conservancy’s Clinch Valley Program

The Nature Conservancy announced today that Alpha Natural Resources has donated $25,000 to the international group to help advance its conservation work in southwestern Virginia’s Clinch River Valley. The gift will support a joint Nature Conservancy and Virginia Department of Mines, Minerals, and Energy (DMME) project to inventory and set priorities... 

China Energy Expands Heating Supply Capacity

China Energy Corporation, a leading producer of coal, heat, and electricity in Inner Mongolia, China, is pleased to announce that it has successfully completed the construction of new facilities in an ongoing expansion of its heating supply capacity. “The addition of 14 new heat transfer stations to our heat supply network has greatly increased... 

SouthGobi Energy Resources Reaches 2008 Target Coal Production of One Million Tonnes Ahead of Schedule and Below Budget at Its Ovoot Tolgoi Coal Mine in Southern Mongolia

Peter Meredith, Chief Executive Officer of SouthGobi Energy Resources Ltd., and Gene Wusaty, Chief Operating Officer, Coal Division, announced today that the Ovoot Tolgoi mine in southern Mongolia has produced its first 1,000,000 tonnes of coal ahead of schedule and below budget. “We are very pleased to announce this coal production milestone... 

Peabody Energy Earns ‘Award of Excellence’ and ‘Strategic Energy Investment of the Year’ at Global Energy Awards

An international panel of judges has presented Peabody Energy with dual honors at the 10th Global Energy Awards in New York City: The Award of Excellence honors Peabody’s industry leadership, and the Strategic Energy Investment of the Year recognizes Peabody’s global transformation to capitalize on high-growth, high-margin markets. The Award... 

Reliant Energy to Sell Northeastern Electricity Marketing Assets to Hess Corporation

Reliant Energy announced today it has reached an agreement to sell the Northeastern electricity marketing assets of its retail subsidiaries, Reliant Energy Solutions East and Reliant Energy Solutions Northeast, to Hess Corporation. These subsidiaries provide electricity and related services to more than 300 commercial and industrial customers in Delaware,... 

Massey Energy Names New Company President

Massey Energy announced that its board of directors has elected Baxter F. Phillips, Jr. to be president of the company, a position formerly held by Don L. Blankenship. Blankenship will continue to serve the company as chairman and CEO. Phillips most recently served as executive vice president and chief administrative officer of the company. In his new... 

Utility Industry Executive to Advise CleanTech Biofuels on Renewable Power Production

CleanTech Biofuels, Inc., announced that Dan W. Ziegler, Managing Director of business development for Duke Energy Generation Services, will serve as a consultant to CleanTech Biofuels as it continues to develop its municipal solid waste to renewable power production platform. Mr. Ziegler has over 20 years of experience in the power industry, with extensive... 

Platts Survey: October OPEC Oil Output Dropped to 32.26 Mil. Barrels Per Day

The 13 members of the Organization of the Petroleum Exporting Countries (OPEC) pumped an average 32.26 million barrels per day (b/d) of crude oil in October, according to a Platts survey of OPEC and oil industry officials just released. This is a 210,000 b/d decline from the September level of 32.47 million b/d. Excluding Iraq, production from the 12...