PowerHome Solar sues Hawk Energy Solutions, alleging theft of trade secrets
Mooresville’s PowerHome Solar says a fired employee stole its trade secret and established a competing solar installer in nearby Cornelius.
It’s official: Occidental Petroleum brings former CEO back as chairman
Houston-based Occidental Petroleum Corp. (NYSE: OXY) announced March 24 that former CEO Stephen I. Chazen has been named chairman of its board of directors.
Chazen currently is chairman and CEO of Houston-based Magnolia Oil and Gas Corp. (NYSE: MGY), which he founded in 2018. In Occidental’s press release, Chazen noted that leading Magnolia would remain his primary focus, and he will not serve as an employee or executive of Occidental in any way, either interim or permanent.
“It should be noted…
Coronavirus causes Cincinnati gas prices to plummet
Gas prices have fallen dramatically for four straight weeks, and the price of fuel in Cincinnati has fallen to well below the national average.
The average price of a gallon of gasoline in Cincinnati is $1.75, down 1.2 cents from a week ago. That’s well below the national average of $2.08 per gallon, according to travel and navigation app GasBuddy.
“Gas prices have spent virtually all of March marching lower, with the drop continuing as the coronavirus destroys oil demand globally, leading to…
Port Bureau president: Port Houston operations normal despite COVID-19 business slowdown
Port Houston had to close two container terminals last week after a worker tested positive for COVID-19 and reopened them for normal business after a day.
Oil supermajor cuts 2020 spending by $5 billion
The Netherlands-based Royal Dutch Shell PLC (NYSE: RDS) slashed at its spending plans for 2020, joining a growing list of oil and gas producers who have announced multibillion-dollar capital expenditure cuts for the year.
The company is now targeting 2020 spending levels at or below $20 billion, down $5 billion from its original plans for the year, according to a March 23 press release.
At the same time, Shell plans to cut its operating costs by $3 billion to $4 billion per year over the next…
Local utility companies suspend shut offs, close walk-in centers
In response to rising COVID-19 concerns, utility companies are stepping up to offer temporary relief to keep the power on for its customers suffering from economic hardship.
Kauai Island Utility Cooperative has suspended service disconnections for a 30-day period.
“It seems inevitable that some members will face financial challenges due to COVID-19,” said KIUC’s President and CEO, David Bissell, in a statement. “We don’t want to add to that anxiety with potential loss of electric service.”
The…
Occidental Petroleum bond rating dropped to ‘junk’ by credit raters
The oil company’s recent moves haven’t helped, given oil’s price collapse.
SoCal Gas parent to donate $1M to California nonprofits serving coronavirus needs
Southern California Gas Co. parent Sempra Energy has pledged to donate up to $1 million to help small to medium-sized nonprofits in California as they continue to serve needs related to the ongoing coronavirus crisis.
“Many nonprofit organizations are faced with unprecedented demand for their services due to the current COVID-19 situation,” Dennis V. Arriola, board chair of the Sempra Energy Foundation, and executive vice president and group president of Sempra Energy, said in a statement. “These…
He used to guide adventurers to the top of Denali, now this exec guides energy policy at Colorado School of Mines
He’s also shaped energy policy from within the EU, UN and World Bank. Here’s Morgan Bazilian’s newest adventure.
Sunworks cuts staff, payroll to conserve money during COVID-19 outbreak
Roseville-based solar installer Sunworks Inc. has cut staff to reduce expenses as it works its way through the COVID-19 pandemic.
Sunworks (Nasdaq: SUNW) said it’s terminated or laid off 59 employees, a cut of a third of its headcount from the beginning of the year, to cut costs.
Additionally, the company reduced another 23 employees to part time, with commensurate reduction in pay.
As a provider in the electrical industry, Sunworks is considered part of a critical infrastructure sector, but the…
