GasBuddy has been introduced today in Australia where it runs in the US since 2004. GasBuddy users just need to submit their seen petrol prices at gas station and they will have the chance to win $100 voucher worth of free gas in the daily draw. The app is free and is accessible through Android and iOS smartphones.
Energy
US oil, natural gas drilling dropped lowest since 1940
The US drilling activity for oil and natural gas declined to record low since 1940 in the wake of weaker oil prices in the global markets. Oil firms are also reducing their spending budgets this year owing to adverse conditions in the markets
Economy slowdown not to deter China's efforts on anti-pollution
China has decided to implement its stringent anti-pollution efforts despite slowing down of economy. China is propelling up economy growth without compromising on environment protection.
Whole Foods to get rooftop solar; deals with SolarCity, NRG
Whole Foods Market Inc has entered into separate agreements with SolarCity Corp and NRG Energy Inc for installation of solar panels on rooftop of retail outlets. The installation works on solar panels at retail outlets are likely to commence in spring. Expected potential for solar power generation may be 13.8MW.
Exxon's Canadian unit offloads gas stations for $2.1 bln
Exxon Mobil Corp's Canadian unit is selling its retail gas stations in the country to five fuel distributors for C$2.8 billion ($2.1 billion). The transaction is expected to be completed by end of 2016 subject to the regulatory approvals.
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Egyptian-Chinese industrial zone in Ain Sokhna may attract $5 billion investments. About 100 companies are expected to set up their operations in the zone paving the way for creation of employment opportunities for about 30,000 people.
Surpassing Russia, the Kingdom of Saudi Arabia (KSA) has regained its lost status as top oil exporter to China in January 2016. However, China's oil imports eased during the month, while Russia suffered major drop in its exports. As a result, Saudi's market share rose to 15.9 percent highest since June 2015.
Russian energy company GazProm signed a loan agreement with Bank of China on Thursday. GazProm borrowed €2 billion ($2.17 billion) on a 5-year term
Activist investor Carl Icahn on Monday reported a loss of $1.7 billion investment in 2015. This was a 18% down from previous year.
During five years, the Department of Energy’s ARPA-E program has invested in hundreds of projects for a total of $1.3 billion. The agency is still pushing forward to improve its funding system to help more projects commercialize its technologies.
According to a latest 'Beige Book' from US Federal Reserve, economic activity in some districts has been slowing down, while some recorded modest growth in labor market. The latest financial market crash also hit consumer spending severely in some areas.
It's been almost a year since Exelon and Pepco announced their possible merger. Both companies are now facing difficulties as they need to comply with new conditions the district imposed. They have to adapt with the new terms if they want the merger to move forward.
The legal battle running for 13 years between hedge fund investor Paul Singer and Argentina is over as both the parties have reached to an agreement. Singer's Elliott Management will get $4.65 billion cash from the Argentina government as part of the deal.
Global investment in the clean energy sector has been increasing year by year. However, Canada’s clean energy investment has been plunged by 46% in 2015 compared to the previous year. Canadian government has been urged by the Clean Energy advocates to adopt more investment friendly policies to patronize the sector.
