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Project Finance

  • August 29, 2012

    Petronas' $6B Takeover Of Progress Gets Shareholders' OK

    Shareholders of Canadian natural gas company Progress Energy Resources Corp. have overwhelmingly approved a CA$6.1 billion (US$6 billion) takeover bid by Malaysia's Petroliam Nasional Bhd., Progress Energy announced Tuesday.

  • August 28, 2012

    FERC OKs Gas-To-NGL Pipeline Conversion Over Utility Protest

    Federal regulators on Monday approved Transwestern Pipeline Co. LLC's plan to convert a 60-mile gas pipeline in New Mexico to a liquids pipeline over objections of several energy companies who warned the move would choke off capacity.

  • August 28, 2012

    Wind Project Condemnation Case Reaches Texas High Court

    Lone Star Transmission LLC on Friday asked the Texas Supreme Court to review an injunction granted to a West Texas ranch that bars construction of a wind transmission line on the ranch's property, saying the move could throw a wrench into the state's plans to complete a network that will move wind power from renewable energy zones to the rest of the state. 

  • August 28, 2012

    Exelon Abandons Texas Nuclear Plant Over Market Concerns

    Exelon Corp., the country’s largest nuclear operator, has ended its plans for a new nuclear energy plant in South Texas because it can’t afford to compete against low natural gas prices, the company announced Tuesday.

  • August 28, 2012

    Calif. Lawmakers Exempt Bikeways From Enviro Requirements

    The California Assembly on Friday unanimously passed a bill that would exempt several hundred miles of bicycle lanes from environmental requirements in order to speed up implementation of a Los Angeles County Metropolitan Transportation Authority for bikeways in the city.

  • August 28, 2012

    US Clears Path For Fracking In Ohio National Forest

    The U.S. Forest Service on Monday cleared the way for natural gas drilling that uses hydraulic fracturing in an Ohio national forest, rebuffing environmentalists who said study of energy exploration in the area was inadequate because it didn’t specifically examine fracking.

  • August 28, 2012

    ND Regulator Intervenes In Enviros' Coal Mining Regulation Suit

    A North Dakota federal judge on Monday allowed the state’s Public Service Commission to intervene in a suit brought by environmental groups seeking to rescind the state’s authority to regulate surface coal mining, ruling the PSC was unconditionally allowed to intervene by law.

  • August 28, 2012

    LA Council Bars Highway Project From Rising Over City

    The Los Angeles City Council passed a resolution Tuesday blocking any aboveground alternatives of a controversial, potentially multibillion-dollar highway extension project proposed by the state's transportation agency.

  • August 28, 2012

    CFTC Must Close Global Swaps Loopholes, Reformers Say

    Financial reform advocates said Tuesday that exceptions embedded in a recent U.S. Commodity Futures Trading Commission guidance for cross-border enforcement of Dodd-Frank Act swaps rules left several loopholes that could allow banks to evade rules by simply changing the registration of their subsidiaries.

  • August 28, 2012

    Japan Buys Into Delhi-Mumbai Corridor Development Co.

    Japan's development bank will invest directly in the Indian corporation tasked with building up manufacturing and commercial activity between New Delhi and Mumbai, an effort for which Japan has already pledged $4.5 billion, the country's trade minister announced Tuesday.

  • August 28, 2012

    Chile High Court Stalls $5B Thermoelectric Project

    Chile's highest court on Tuesday rejected the $5 billion Castilla thermoelectric power plant planned by Brazil's MPX Energia SA, saying concerns over the 2,100-megawatt facility's environmental impact are too weighty for them to give it the go-ahead.

  • August 28, 2012

    Statoil To Drill 9 New Arctic Wells In 2013

    Norwegian energy giant Statoil ASA plans to expand its Arctic exploration activities by drilling nine new wells in the Barents Sea region in 2013 and growing its Arctic research budget to $43 million, Statoil said Tuesday.

  • August 28, 2012

    Enviro Study For $930M NC Toll Project Insufficient, Groups Say

    The Catawba Riverkeeper Foundation and Clean Air Carolina on Tuesday sued the North Carolina Department of Transportation and Federal Highway Administration over a $930 million toll road project, saying it violates the National Environmental Policy Act because the agencies failed to prepare an adequate environmental impact statement.

  • August 27, 2012

    FERC Can Reset Rates To Get Utility Refunds, 9th Circ. Says

    The Ninth Circuit found Monday that the Federal Energy Regulatory Commission had the authority to establish electricity market rates for the period when it sought refunds to consumers for high energy prices during California's energy crisis in 2000.

  • August 27, 2012

    Cameco Puts Up $430M For BHP Uranium Mine

    Uranium heavyweight Cameco Corp. has struck a $430 million deal with BHP Billiton Ltd. to acquire the Australian mining outfit's Yeelirrie uranium project in Western Australia, the buyer announced Sunday.

  • August 27, 2012

    10th Circ. Axes Suit To Block $4B DOE Nuclear Facility In NM

    A federal appeals court in New Mexico affirmed a lower court's judgment tossing an anti-nuclear group's suit that sought to block a U.S. Department of Energy $4 billion nuclear research facility project over an environmental impact statement, ruling Monday that the suit was filed prematurely.

  • August 27, 2012

    OPIC Puts Up $310M For Kenyan Geothermal Plant Expansion

    The U.S. government's development finance arm will lend a unit of geothermal power project developer Ormat Technologies Inc. up to $310 million to add up to 52 megawatts of new capacity to a Kenyan power generation facility, Ormat announced on Monday.

  • August 27, 2012

    NRC Amends Reporting Rule On Plant Construction Alterations

    The U.S Nuclear Regulatory Commission on Monday issued a final rule amending its regulations for the verification of nuclear power plant construction activities to require licensees to report any alterations they make after the supposed completion of any required inspections, tests or analyses.

  • August 27, 2012

    CFTC Adopts Swaps Record-Keeping, Registration Rules

    The U.S. Commodity Futures Trading Commission on Monday finalized new record-keeping and registration requirements for participants in the $700 trillion over-the-counter derivatives market.

  • August 27, 2012

    Sundance Board OKs Reduced $1.5B Bid From Hanlong

    With iron ore prices falling, Australian mining outfit Sundance Resources Ltd. on Friday accepted a lowered AU$1.4 billion (US$1.5 billion) takeover bid from China's Hanlong Mining Investment Pty Ltd., which had been under pressure from the government to reduce its previous offer.