U.S. natural gas futures fell about 2% on Thursday on rising output and forecasts for milder weather than previously expected next week that should allow utilities to start injecting gas into storage at the beginning of April. That price decline came even though the amount of gas flowing to liquefied natural gas (LNG) export plants … Read more
Exxon Mobil Corp on Wednesday bid for offshore blocks to store carbon dioxide underground during a government oil and gas lease sale in the U.S. Gulf of Mexico, while rivals Chevron Corp and BP Plc targeted areas for production. The largest U.S. oil company has been selling oil production blocks in the U.S. Gulf since 2018 as … Read more
If BlackRock Inc.’s largest ESG-labeled exchange-traded fund is a bellwether for the sustainable investing industry, it’s fair to say the US sector may be in for a bumpy ride. The assets of the iShares ESG Aware MSCI USA ETF (ticker ESGU) have dropped to $13.8 billion from a high of $25 billion as recently as a year … Read more
Every two years, engineering students from across the US compete in the American Solar Challenge, where around 10 schools cobble together a car designed to go as far as possible, powered exclusively by the sun. In 2022, the Massachusetts Institute of Technology took the top prize with a car that looks sort of like a … Read more
After years of wrangling, the world’s most important oil price is about to be transformed for good, allowing crude supplies from west Texas to help determine the price of millions of barrels a day of petroleum transactions. The shift is because the existing benchmark, Dated Brent, is slowly running out of tradable oil for it … Read more
LONDON, March 30 (Reuters) – Oil prices rose on Thursday as a surprise drop in U.S. crude stockpiles and a halt in exports from Iraq’s Kurdistan region offset a smaller-than-expected cut to Russian supplies. Brent crude futures rose 49 cents, or 0.63%, to $78.77 a barrel at 1145 GMT, while West Texas Intermediate crude rose … Read more
WASHINGTON, March 30 (Reuters) – The Republican-controlled U.S. House of Representatives is expected to vote on its first major legislation of the year on Thursday, a partisan energy bill that poses an early test of unity for House Speaker Kevin McCarthy’s majority. The 175-page measure, dubbed the Lower Energy Costs Act, represents a top 2022 … Read more
March 30 (Reuters) – Elon Musk-led Tesla Inc (TSLA.O) has missed its solar-roof installation targets by a massive margin due to stiff competition from GAF Energy and other rivals, according to industry analysis firm Wood Mackenzie. Tesla’s average installations per week were just 21 in 2022 and its best quarter saw 32 systems installed per week. That … Read more
March 29 (Reuters) – Maryland Governor Wes Moore on Wednesday announced goals to more than quadruple the state’s offshore wind capacity to 8.5 gigawatts – enough to power nearly three million homes – as part of an effort by the state to achieve 100% clean energy by 2035. Moore is working “to establish new lease … Read more
(Reuters) – Canada on Tuesday sought to close competitive gaps with United States with a budget aimed at attracting investment in the low-carbon economy, including tax incentives for electric-vehicle (EV) manufacturers and expanding the electricity grid. The 2023-2024 fiscal document, delivered to the House of Commons, also has a “grocery rebate” for 11 million low-income … Read more
(Reuters) – Energy giant Repsol (REP.MC) has bought into Europe’s drive for green jet fuel, but believes the 200 million euro ($217 million) plant it is building in southeast Spain faces a bumpier ride than if it was on the other side of the Atlantic. Repsol says the plant, which transforms used cooking oil into so-called … Read more
Reuters LONDON, March 29 (Reuters) – The Net Zero Asset Owner Alliance (NZAOA) said on Wednesday it expects members to make no new direct investments in upstream oil and gas infrastructure projects for new fields, as part of efforts to rein in global warming. The group, whose members control $11 trillion in assets, said the … Read more
The OPEC+ coalition is showing no signs of adjusting oil production next week, staying the course amid turbulence in financial markets. Group leader Saudi Arabia has said publicly that the 23-nation alliance should keep supplies steady for the whole of 2023 as it navigates a fragile recovery in global oil demand. Delegates from the group say privately … Read more
Canada is ramping up efforts to become a leader in the green energy transition, unveiling almost C$83 billion ($61 billion) in investment tax credits over the next decade, including tens of billions aimed at building a clean electricity grid.The measures, along with increased health spending, will swell the country’s deficit at a time of heightened … Read more
Gulf offshore drilling operation A U.S. government auction of oil and gas drilling rights in the Gulf of Mexico generated $263.8 million in high bids, the most of any sale in the region for years and the first test of demand for investment since the Russian invasion of Ukraine. The Bureau of Ocean Energy Management … Read more
The Biden administration will hold an auction of oil leases in the U.S. Gulf of Mexico on Wednesday, the first test of demand for new investment in the region since the Russian invasion of Ukraine tightened energy supplies and sent prices soaring. The auction fulfills a provision in President Joe Biden’s 2022 climate change law, … Read more
U.S. natural gas futures fell about 3% to a fresh 30-month low on Wednesday ahead of expiration of the front month on rising output and mild weather forecasts that should allow utilities to start injecting gas into storage at the beginning of April. “April natural gas contract trades below $2 into expiration… as it struggled … Read more
Oil extended gains as Iraqi exports via Turkey remain disrupted amid a dispute with Kurdish authorities, while an industry report showed a decline in US stockpiles. Brent crude traded above $79 a barrel, while West Texas Intermediate topped $74. Both benchmarks rose to their highest level in two weeks. Oil has been buttressed by factors … Read more
SPS West is a leading organization that specializes in providing highly engineered specialty solutions to its customers, and its core values are at the heart of its success. SPS acts as the conduit between some of the world’s best manufacturers and some of Canada’s most brilliant engineers. They manufacture and design engineered specialty products with … Read more
Reuters OROCOVIS, Puerto Rico, March 28 (Reuters) – The U.S. could start buying back crude oil for the Strategic Petroleum Reserve late this year after President Joe Biden last year directed the largest ever sale from the stockpile, Energy Secretary Jennifer Granholm said. The administration intended to repurchase crude oil for the SPR when prices … Read more
Summary Insure our Future writes to 30 insurance companies Group says will challenge climate laggards at AGMs Follows new warning from U.N. climate scientists FRANKFURT/LONDON, March 28 (Reuters) – A group of climate activists has called on 30 insurance company bosses to “immediately” stop underwriting new fossil fuel projects in the wake of a stark … Read more
MIDLAND, Texas, March 27, 2023 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or “the Company”) today announced that it has joined the Oil and Gas Methane Partnership 2.0 (OGMP 2.0), the United Nations Environment Programme’s flagship oil and gas reporting and mitigation program. “Diamondback is proud to join OGMP 2.0 and apply its … Read more
Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Careers under consideration for ages 15 to 30 Share of respondents that would consider a position in: Courtesy of McKinzie & Company Young people looking for their first “real job” are turning their noses up to the critical mining and oil and gas sectors, according … Read more
Oil extended its biggest rally of the year as a clash between Iraq and its Kurdish region curtailed exports, while fears over a fallout from the banking crisis receded.West Texas Intermediate futures rose as much as 1%, after jumping above 5% on Monday in the steepest surge since October. A legal dispute between Iraq, its semi-autonomous region … Read more
The pace of US onshore wind-farm installations tumbled last year, in a sign that the industry’s struggles aren’t limited to the fledgling offshore sector. US wind developers installed 6.7 gigawatts of power generation capacity last year, a 56% drop from the prior year, S&P Global said Monday in a report. That happened due to declining … Read more
Flying is back — but US jet fuel demand isn’t.More Americans are flying than before the pandemic, based on the number of passengers going through government security checkpoints at US airports so far this year. But jet fuel demand is still about 11% lower than the same period in 2019, according to Energy Information Administration … Read more
The pace of US onshore wind-farm installations tumbled last year, in a sign that the industry’s struggles aren’t limited to the fledgling offshore sector. US wind developers installed 6.7 gigawatts of power generation capacity last year, a 56% drop from the prior year, S&P Global said Monday in a report. That happened due to declining … Read more
Endeavor Energy Resources must slash its US methane releases more than any other major emitter to avoid penalties that come into force next year, according to an analysis from BloombergNEF that examined how new rules impact the 10 biggest polluters of the greenhouse gas.The report shows just how much work some of the world’s most … Read more
Summary Origin agreed to A$15.35 billion deal on Monday Energy Markets business to be acquired by Brookfield EIG’s MidOcean Energy to take gas production business Shares in Origin trading 1% higher SYDNEY, March 28 (Reuters) – Canada’s Brookfield (BAM.TO) and its partner EIG decided to go ahead with a $10.2 billion plan to buy Australia’s Origin Energy … Read more
LONDON, March 27 (Reuters) – A record 680 gigawatts (GW) of wind energy capacity is expected to be installed by 2027 but policymakers need to ensure supply chain bottlenecks do not slow growth to avoid missing climate targets, according to an industry report released on Monday. The Global Wind Energy Council (GWEC) report said policies … Read more
This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine MOSCOW, March 28 (Reuters) – Russia has successfully redirected all its crude oil exports affected by Western sanctions over Ukraine to “friendly” countries, Energy Minister Nikolai Shulginov said on Tuesday, while still a decline in oil and gas … Read more
Contract awarded by Bechtel for Main Refrigerant Compressors (MRCs) includes two liquefaction trains, for a total of four Frame 7 turbines and eight centrifugal compressors Baker Hughes will also provide two motor driven compressors for the plant’s boosting services Technology capable of producing a nameplate capacity of approximately 13 million tonnes per annum (MTPA) HOUSTON … Read more
President Joe Biden submitted his budget request on March 9. Although the numbers are bound to change before Congress approves it, federal funding of research and development — a small but significant corner of the US budget — could top $200 billion for the first time. That’s in today’s dollars, but adjusted for inflation it would also be an all-time high. And 2023 could be … Read more
By Geoffrey Cann This is hands-down the best way to transfer leading edge technology between unrelated sectors. Tech Transfer When I was growing up, there was a story making the rounds in the school yard that Tang, a sweet orange-flavored powdered beverage, was invented for the US moon landing program in the 1960s. It sounded plausible … Read more
Ask the world’s biggest oil traders where the market is headed as prices hover near a 15-month low, and you’ll hear almost universal agreement: The stage is set for a rally. But an examination of trading data tells a much different story. In the past two weeks, speculators have cut bullish positions in US crude … Read more
Russia’s seaborne crude flows are holding strong, meaning a pledge by the Kremlin to cut the nation’s production sharply has yet to feed through into supplies to the international marketplace. The nation’s shipments slid by 123,000 barrels a day to 3.11 million barrels a day in the seven days to March 24, according to tanker tracking by Bloomberg. The less-volatile … Read more
Oil extended a weekly gain, with investors awaiting further economic data as the fallout from the banking crisis continued to ripple across markets.West Texas Intermediate futures edged toward $70 a barrel after climbing almost 4% last week. As the bank-sector turmoil sparks recessionary fears, US authorities are considering expanding an emergency lending facility — among … Read more
Reuters This content was produced in Russia, where the law restricts coverage of Russian military operations in Ukraine MOSCOW, March 27 (Reuters) – Moscow may seek compensation for the damage to the Nord Stream gas pipelines from two explosions last September, but the future of the projects is unclear, according to a Russian diplomat … Read more
Summary Premium of 9.1% to last close GIC and Temasek become co investors Implied offer value of A$8.912 per share March 27 (Reuters) – Australia’s Origin Energy Ltd (ORG.AX) on Monday agreed a A$15.35 billion ($10.21 billion) takeover offer from a consortium led by Canada’s Brookfield (BAM.TO), nearing the conclusion of one of the biggest private equity-backed buyouts … Read more
Accountants play a crucial role in the success of any business, and the use of an ERP (Enterprise Resource Planning) system can greatly increase their efficiency. In this blog, we will explore the benefits that accountants can gain by using an ERP system. Streamlined Processes ERP systems provide a centralized platform for all business operations, … Read more
As mentioned earlier this year in this article: Collicutt Energy: Year in Review – Big Growth and Positive Future, Collicutt is growing. Included in this growth is our Manufacturing Department. It has been steadily growing since its inception 3 years ago. During this time, our team was working out of a single bay at the … Read more
Pandell Receives Esri’s ArcGIS SaaS Adoption Award for Exceptional Achievement in Evolving Customers to ArcGIS Using SaaS Pandell, a 2019 Esri Cornerstone Partner and an Esri Partner Network Gold Partner, received an Esri Partner Network ArcGIS SaaS Adoption Award at the 2023 Esri Partner Conference (EPC) held in Palm Springs CA, March 4–6, 2023. Twenty-seven … Read more
By Scott DiSavino March 24 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since November, energy services firm Baker Hughes Co BKR.O said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose … Read more
SUGAR LAND, Texas – Researched by Industrial Info Resources— Industrial Info Resources (IIR) finds that a wave of new export facilities for liquefied natural gas (LNG) in North America helps solve some of the recent energy security issues, but if the criticism is valid, it does little to address economic concerns at home. The provincial … Read more
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