California Resources Corp. Third Quarter Results

California Resources Corporation (NYSE: CRC), announced net income of $546 million or $13.06 crc_logoper share for the third quarter of 2016, compared with a net loss of $104 million or $2.72 per share for the same period in 2015.

The Los Angeles-based company, formerly the California operations of Occidental Petroleum, reported an adjusted net loss for the third quarter of 2016 of $71 million or $1.75 per share, compared with an adjusted net loss of $86 million or $2.25 per share for the same period of 2015.

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Chevron Third Quarter Income is $1.3 Billion

Chevron Corporation (NYSE: CVX) reported earnings of $1.3 billion, or$0.68 per share, for the chevronthird quarter of 2016, compared with earnings of $2.0 billion, or $1.09 per share in the third quarter of last year.

Sales and other revenues of the San Ramon-based company were $29 billion in the latest quarter, compared to $33 billion in the year-ago period.

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Safety Changes Proposed After Aliso Canyon

Federal regulators, responding to the Aliso Canyon gas leak, have proposed new safety us_doe_logoprocedures for all underground natural gas storage facilities in the nation.

The new procedures, developed by the , will be overseen by the  Department of Transportation’s Pipeline and Hazardous Materials Safety Administration when enacted.

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Mexico’s Grid Operator May Join EIM

The California Independent System Operator (ISO) and the Mexican electric system operator, El Centro cenace_logoNacional de Control de Energía (CENACE), announced that CENACE has agreed to explore participation by its Baja California Norte grid in the Energy Imbalance Market.

The real-time market enables participating utilities to shift supplies of electric power from areas of surplus capacity, especially power generated by renewable sources, to areas experiencing high demand.

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Two More Utilities Join ISO Power Market

Phoenix-based Arizona Public Service (APS) and Puget Sound Energy (PSE) of Washington cal_iso_logoState began full participation in the western Energy Imbalance Market (EIM) on October 1.

The EIM is a real-time wholesale power market managed by the California Independent System Operator (ISO) that enables participating utilities to buy low-cost energy available across eight western states.

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