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Refugees lose hope as more countries shut borders

Refgugees face more closed bordersThe Hungarian government has announced the deployment of an additional 1,500 troops and police officers on its border with Serbia, as it extended a nationwide "state of emergency" in response to the ongoing refugee crisis in Europe.

Interior Minister Sandor Pinter made the announcement during a press conference in Hungary's capital Budapest on Wednesday.

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For The First Time, Solar Will Be The Top New Source Of Energy This Year

solar energyFor the first time ever utility-scale solar projects will add more new capacity to the nation’s grid than any other industry this year, the U.S. Energy Information Administration reported Tuesday.

Natural gas and wind energy follow somewhat closely, according to the EIA’s monthly report, which notes that solar, gas and wind energy will make up 93 percent of all new energy. Solar projects will generate about 9.5 gigawatts of new energy. Natural gas, meanwhile, will add 8 gigawatts while wind is poised to create 6.8 gigawatts.

One gigawatt is enough energy to power about 700,000 average homes.

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Former Chesapeake CEO McClendon charged with bid-rigging of land leases

Aubrew McClendonAubrey McClendon, former chief executive officer of Chesapeake Energy Corp (CHK.N) and a legend in the U.S. energy industry, was charged on Tuesday with conspiring to rig bids to buy oil and natural gas leases in Oklahoma, the Justice Department said.

The indictment follows a nearly four-year federal antitrust probe that began after a 2012 Reuters investigation found that Chesapeake had discussed with a rival how to suppress land lease prices in Michigan during a shale-drilling boom. Although the Michigan case was subsequently closed, investigators uncovered evidence of alleged bid-rigging in Oklahoma. (reut.rs/1TPxUVy)

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Why 175 Oil And Gas Companies Could Go Bankrupt This Year

Oil and Gas companies go bankruptAbout a third of U.S. oil and gas production and exploration companies are at high risk of going bankrupt in 2016, according to a new report.

The report, published Tuesday by consulting and business services firm Deloitte, looked at more than 500 oil and natural gas exploration and production companies worldwide. It found that 175 of the companies — or nearly 35 percent — were at high risk of going bankrupt, due largely to low oil prices. Together, these companies have more than $150 billion in debt.

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Scotland hosting new type of offshore wind program

Scotland floats new wind programThe Scottish government said it granted a license to the operators of what Edinburgh said may be the world's largest offshore floating wind energy development.

Norwegian energy company Statoil was granted a license for its Hywind pilot project that envisions up to five turbines installed by an anchoring system that developers said would facilitate deep-water installation.

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Oil Services Co.,Baker Huhes, lays off 10,500

Baker Hughes "Extreme market forces" are in play in the global energy sector, oil services company Baker Hughes said Tuesday in announcing widespread layoffs.

The company said it was cutting about 17 percent of its workforce, or around 10,500 jobs, as it works to streamline its finances amid the drop in exploration and production. During the first quarter, Baker Hughes reported revenue of $4.59 billion, a 20 percent decline year-on-year.

"Our first quarter results are a reflection of the extreme market forces faced by our industry since late December," Baker Hughes Chairman and Chief Executive Officer Martin Craighead said in a statement. "Consistent with past downturns, many of our customers have curtailed or canceled projects."

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Japan now has more car charging points than gas stations

Japanese charging pointsNissan Motor Co. has reported that Japan now has more places to charge electric vehicles than gas stations. The country has roughly 34,000 gas stations, compared to 40,000 charging points. The charging points range from stations to home setups.

"An important element of the continued market growth is the development of the charging infrastructure," Nissan Chief Financial Officer Joseph G. Peter told analysts on a conference call, according to Bloomberg Business.

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