Rows of solar panels at the Toms River Solar Farm which was built on an EPA Superfund site in Toms River, New Jersey, U.S., 26 May, 2021. Picture taken May 26, 2021. REUTERS/Dane Rhys/File Photo Summary Silicon market deficit at 92,000 tonnes this year – WoodMac Market has grown 20% since 2015 LONDON, Sept 21 … Read more
Sep 21, 2021 (Bloomberg) Prime Minister Justin Trudeau won a third term in Canada’s snap election though fell short of regaining the majority he was seeking, forcing him to rely on smaller parties in another fragmented parliament. Trudeau’s Liberal Party was elected or leading in 158 of the 338 seats in the House of Commons, with 99% of … Read more
Sep 21, 2021 (Bloomberg) The International Energy Agency called on Russia to supply more natural gas to Europe, saying the energy crunch was an opportunity for the country to show it’s a “reliable supplier.” Russia is meeting is contractual obligations to ship gas to Europe, but its exports to the continent are still down from levels … Read more
Sep 21, 2021 (Bloomberg) Royal Dutch Shell Plc shareholders will get an unexpected $7 billion payout after the company promised to give them three quarters of the proceeds from the sale of Permian shale oil fields to ConocoPhillips.The cash pledge comes less than two months after Shell raised its dividend by almost 40% and started $2 … Read more
The Biden administration’s top energy official said the nuclear industry should broaden its business case beyond power markets in order to ensure its place in a carbon-free economy. U.S. nuclear energy has come under relentless pressure in recent years from cheap natural gas, solar and wind power. More reactors are being taken offline permanently than … Read more
Sep 21, 2021 (Bloomberg) Oil rose as a selloff in global equities halted and traders assessed the potential for a switch away from gas to oil. Futures in London climbed above $75 a barrel. Wider markets recovered from a selloff on Monday, which also rippled into oil, before this week’s Federal Reserve meeting. Traders are also weighing the … Read more
Sep 21, 2021 (Bloomberg) The world’s biggest gas traders and producers are meeting in Dubai this week for the Gastech conference — the first major in-person event for the industry since the onset of the coronavirus pandemic. The conference, running from Sept. 21-23, is happening just as Europe faces a gas crunch, with prices spiking to record … Read more
Sep 21, 2021 (Bloomberg) ConocoPhillips’s $9.5 billion deal to buy shale assets from Royal Dutch Shell Plc will boost oil production and, inevitably, greenhouse gas emissions as well. Yet the company says the pact will actually allow it to reach one of its climate goals faster. Greenhouse gas emissions intensity, or emissions per barrel of oil, … Read more
September 21, 2021 HOUSTON, Sept. 21, 2021 (GLOBE NEWSWIRE) — Key Energy Services, Inc. (“Key” or the “Company”)(OTC: KEGX) today announced the sale of substantially all of its Texas and New Mexico fluid management and salt water disposal well assets for cash and the assumption by the buyer of the related asset retirement obligations. The … Read more
Sep 20, 2021 (Bloomberg) ConocoPhillips agreed to acquire Royal Dutch Shell Plc’s Permian Basin assets for $9.5 billion in cash, accelerating the consolidation of the largest U.S. oil patch.The deal will give ConocoPhillips additional daily production in 2022 of about 200,000 barrels of oil equivalent, it said Monday in a statement. That will make the Houston-based … Read more
A banner flies in the Dakota Access Pipeline protest camp near Cannon Ball, North Dakota. REUTERS/Terray Sylvester TPX IMAGES OF THE DAY NEW YORK, Sept 20 (Reuters) – Dakota Access on Monday asked the U.S. Supreme Court to revisit whether the largest pipeline out of the North Dakota oil basin requires additional environmental review. The … Read more
LONDON, Sept 20 (Reuters) – Hedge funds purchased crude after disruption to offshore production in the Gulf of Mexico lasted longer than expected, extending a drawdown of already-tight petroleum inventories. In the week to Sept. 14, hedge funds and other money managers purchased the equivalent of 41 million barrels in the six most important petroleum … Read more
September 20, 2021 HOUSTON (September 20, 2021) − Shell Enterprises LLC, a subsidiary of Royal Dutch Shell plc, has reached an agreement for the sale of its Permian business to ConocoPhillips, a leading shales developer in the basin, for $9.5 billion in cash. The transaction will transfer all of Shell’s interest in the Permian to ConocoPhillips, … Read more
Sep 20, 2021 (Bloomberg) Oil dropped as risky assets began the week on the back foot and the dollar gained ahead of a Federal Reserve meeting that’s expected to see stimulus scaled back.Futures in New York fell to trade below $71 a barrel amid a broader decline in stock markets. The dollar rose for a third day, making … Read more
LONDON, Sept 20 (Reuters) – Deep in the Oman desert lies one of BP’s more lucrative projects, a mass of steel pipes and cooling towers that showcases the British energy giant’s pioneering natural gas extraction technology. The facility earned BP Plc (BP.L) more than $650 million in profits in 2019, according to financial filings reviewed by Reuters. … Read more
Sept 20 (Reuters) – Goldman Sachs said that with the surge in global gas prices, a colder winter in Europe and Asia could in turn boost demand for oil, driving a $5 per barrel upside risk to its fourth quarter 2021 Brent price forecast of $80 a barrel. A global surge in wholesale power and … Read more
In the early development of the Duvernay formation of northwestern and central Alberta, total well costs between $15 and 20 million were commonly reported by operators due to the much of the proven source rock of the formation requiring downhole completion equipment with pressure capabilities that exceed standard system pressure ratings of 69 MPa (10,000 … Read more
Whether change management requires collaboration from a few—or a few dozen—people, Oplii’s new MOC engine can handle it. “It’s about creating smooth, safeguarded processes that reduce risk and improve safety,” says Managing Partner Johan Rothzén. “With Oplii, significant changes can be managed with greater precision and control than with a one-size-fits-all approach.” Recent enhancements to … Read more
Sep 19, 2021 (Bloomberg) U.K. Prime Minister Boris Johnson said the unprecedented surge in natural gas prices is a “temporary” problem caused by the global economy bouncing back after the pandemic, arguing a “phenomenal demand for gas” in Asia has affected U.K. supplies.“I want to give a general reassurance that the problems we’re seeing are temporary,” … Read more
(Bloomberg) AusNet Services Ltd., which owns Australian power transmission and distribution assets, will enter takeover talks after Brookfield Asset Management Inc. made an approach valuing the company at about A$9.6 billion ($7 billion).Melbourne-based AusNet, which serves about 1.5 million customers in southeastern Victoria state, has contacted its two largest holders, Singapore Power International Pte and State Grid … Read more
Sept 20 (Reuters) – Several U.S. companies, including American Airlines Group Inc (AAL.O), General Motors (GM.N) and Microsoft Corp (MSFT.O), on Monday build on their commitment to clean energy by joining billionaire and Microsoft co-founder Bill Gates’ Breakthrough Energy program. The initiative aims to boost development of technologies to achieve the target of net-zero carbon emissions by 2050. … Read more
Sept 17 (Reuters) – A manufacturers trade group on Friday urged the Department of Energy to order U.S. liquefied natural gas (LNG) producers to reduce exports, warning of price increases and supply shortages this winter. Natural gas prices have surged this year on strong global demand and modest production increases in the first half. The … Read more
Sep 17, 2021 (Bloomberg) President Joe Biden told world leaders “the time is now” to accelerate efforts to slash greenhouse gases as he formally unveiled a new initiative to pare global methane emissions by 30% before the end of the decade.The pledge, designed in concert with the European Union, would be the first coordinated international effort … Read more
John Kemp LONDON, Sept 17 (Reuters) – Developed countries are providing relatively little financial assistance to help their developing counterparts reduce greenhouse gas emissions or adapt to climate change, despite an oft-repeated high-level political commitment. There is a major mismatch between the scale of the energy system transformation envisaged by policymakers and the limited financing … Read more
By Reuters Staff Sept 17 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a second week in a row although the number of offshore units in the Gulf of Mexico remained unchanged after Hurricane Ida slammed into the coast over two weeks ago. Fourteen offshore Gulf of Mexico rig … Read more
Summary To produce 2 mln tonnes of low-carbon jet fuel by 2025 Shell urges aviation sector to deepen decarbonisation Global aviation emissions https://tmsnrt.rs/2XxiH63 LONDON, Sept 20 (Reuters) – Royal Dutch Shell (RDSa.L) plans to start producing low-carbon jet fuel at scale by 2025, in an attempt to encourage the world’s airlines to reduce greenhouse gas emissions. Aviation, … Read more
September 19, 2021 TULSA, OK, Sept. 19, 2021 (GLOBE NEWSWIRE) — Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”) today announced the signing of a purchase and sale agreement to acquire approximately 20,000 net acres in western Glasscock County from Pioneer Natural Resources Company (NYSE: PXD) (“Pioneer”) for approximately $230 million, subject to customary … Read more
Scott Sheffield, CEO of Pioneer Resources, speaks during the IHS CERAWeek 2015 energy conference in Houston, Texas April 21, 2015. REUTERS/Daniel Kramer Sept 17 (Reuters) – Top U.S. shale oil producer Pioneer Natural Resources Co (PXD.N) has put its assets in the Delaware basin of Texas on the block, aiming to secure more than $2 billion for … Read more
September 17, 2021 The Minnesota Department of Natural Resources (DNR) said on Thursday it fined Enbridge Inc $3.32 million, citing the Canadian company’s failure to follow environmental laws during the construction of its Line 3 oil pipeline replacement. “Enbridge breached the confining layer of an artesian aquifer, resulting in an unauthorized groundwater appropriation during the construction of … Read more
Oil rigs are seen in the Gulf of Mexico after Hurricane Ida made landfall in Louisiana, in Grand Isle, Louisiana, U.S. August 31, 2021. REUTERS/Marco Bello/File Photo/File Photo Summary Three-quarters of U.S. Gulf Coast crude shipments on track Mars crude prices ease from peak, reflecting improved outlook HOUSTON/NEW YORK, Sept 16 (Reuters) – U.S. Gulf … Read more
The logo of Gazprom company is seen at the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 2, 2021. REUTERS/Evgenia Novozhenina MOSCOW, Sept 17 (Reuters) – Already high natural gas prices in Europe could scale new heights due to low gas storage levels, Alexei Miller, boss of Russian supplier Gazprom (GAZP.MM), said on … Read more
Sep 17, 2021 (Bloomberg) Oil headed for a fourth weekly gain supported by signs of a tighter market and a wider rally in energy prices.West Texas Intermediate, which dipped on Friday, has still climbed about 4% this week. Investors have been tracking strong rallies in other energy commodities, especially natural gas, which has surged by about … Read more
Sep 17, 2021 (Bloomberg) A supply crunch that sent European energy prices to records is squeezing profits for some of the continent’s industrial giants, threatening to derail the region’s economic recovery. Europe’s top chemicals firm BASF SE said it has been unable to fully swerve the impact of record-breaking electricity prices despite producing 80% of its … Read more
Sep 16, 2021 (Bloomberg) Diamondback Energy Inc. rose in after-hours trading after pledging to accelerate cash returns to shareholders in the fourth quarter. The shale oil producer had pledged to return half its free cash flow to investors in 2022 but will now begin doing so in the fourth quarter, the Midland, Texas-based company said in … Read more
Sep 16, 2021 (Bloomberg) House Democrats are investigating the role major oil companies and their trade groups may have played in misleading the public on the role of fossil fuels in causing global warming.Letters sent Thursday to the heads of Exxon Mobil Corp., BP Plc, Chevron Corp., Royal Dutch Shell Plc, and the American Petroleum Institute … Read more
by ENERGYminute See more articles and infographics from ENERGYminute HERE by Michelle Heath and Aaron Foyer Between oil and gas, renewables, mining, infrastructure, and power—energy companies represent some of the largest corporations on earth. Last year, Nextera surpassed ExxonMobil as the largest energy company in the U.S. Where is it now? Sep 16th 2021 | Business, Electricity, Materials, Mining, Oil & Gas, Renewable Energy Between oil and … Read more
By Kevin Crowley Sep 15, 2021 (Bloomberg) The world is facing high energy prices for the foreseeable future as oil and natural gas producers resist the urge to drill again, according to Chevron Corp.’s top executive.“There are things that are interfering with market signals right now that we haven’t seen before. Eventually things work out, but … Read more
Sep 16, 2021 (Bloomberg) Oil steadied above $72 a barrel after U.S. crude stockpiles tumbled again and investors tracked a broader rally in energy prices. West Texas Intermediate edged up after hitting the highest intraday level since early August on Wednesday. U.S. crude inventories dropped by more than 6 million barrels last week to a two-year … Read more
September 16, 2021 Katy, TX, Sept. 16, 2021 (GLOBE NEWSWIRE) — CW Petroleum Corp (OTCQB: CWPE), a leading provider of Proprietary No-Ethanol Fuels and Biofuel, has reported its six-month year-to-date financial results ending June 30, 2021. At the close of the second quarter, gross sales reached approximately $4.2 million against $3.4 million reported in the first six … Read more
By Nathaniel Bullard Sep 16, 2021 (Bloomberg) When we think of global energy consumption, I imagine most of us think of two things. The first is power plants, be they fossil fuel-fired thermal plants, or zero-emissions wind and solar, or nuclear. The second is transportation, ranging from tiny personal scooters to container ships with an engine … Read more
Sep 15, 2021 (Bloomberg) The biggest set of U.S. tax increases in a generation took a major step forward on Wednesday with approval by the House Ways and Means Committee of $2.1 trillion in new levies mostly focused on corporations and the wealthy.The vote largely along party lines — there were no Republican votes in favor … Read more
A Chevron gas station sign is seen in Del Mar, California, April 25, 2013. REUTERS/Mike Blake/File Photo HOUSTON, Sept 15 (Reuters) – Chevron Corp Chief Executive Mike Wirth said on Wednesday the company prefers to return money to its shareholders rather than use it to invest in solar and wind power projects. The two renewable … Read more
Summary Investor group launches unprecedented initiative Group manages assets worth more then $10 trillion BP, Shell and Eni among companies piloting the scheme LONDON, Sept 15 (Reuters) – Investors managing more than $10 trillion on Wednesday published an ambitious blueprint for energy companies seeking to tackle climate change, including sharp cuts to greenhouse gas emissions … Read more
Sep 15, 2021 (Bloomberg) Oil drillers in the Gulf of Mexico are struggling to restore output more than two weeks after Hurricane Ida made landfall on the coast of Louisiana, with almost a third of production still idled.Operators have 36 platforms out of 560 shut, resulting in a loss of production of about half a million … Read more
September 15, 2021 President Joe Biden campaigned on a promise to restore U.S. leadership in the global fight against climate change and followed up with a dizzying number of executive orders and lofty targets to slash emissions. But nine months into his presidency, political, legal, and economic obstacles have forced his administration to make several … Read more
A crane hangs over the first jacket installed to support a turbine for a wind farm in the waters of the Atlantic Ocean off Block Island (rear), Rhode Island July 27, 2015. REUTERS/Brian Snyder/File Photo Sept 15 (Reuters) – Vineyard Wind, which is on track to be the first major U.S. offshore wind farm, closed … Read more
Sep 15, 2021 (Bloomberg) One of the biggest U.S. investors in oil and natural gas wells is buying $450 million worth of assets in the Texas Eagle Ford shale basin from a renowned energy family in Dallas.Warwick Investment Group LLC, which owns stakes in more than 5,000 oil and gas wells, said Wednesday in a statement … Read more
Sep 15, 2021 (Bloomberg) Natural gas prices in Europe continued their record-breaking run as uncertainties about supply security this winter worsen. Power prices also surged to a new high amid after a disruption on a power link with France. The latest concern for the European market is tropical Depression Nicholas, which threatens to lash the U.S. … Read more
Sep 15, 2021 (Bloomberg) Storm Nicholas is lashing the U.S. Gulf Coast with torrential rain that could last for days, knocking out power, unleashing floods and dealing another blow to the energy industry just two weeks after Hurricane Ida.The storm, now classified as a tropical depression, is moving across the southeastern edge of Texas and into … Read more
Sep 15, 2021 (Bloomberg) Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market.Global benchmark Brent rose above $74, while West Texas Intermediate advanced for a fourth day. The industry-funded American Petroleum Institute reported Tuesday that nationwide crude stockpiles fell 5.44 million barrels last week, according … Read more
HOUSTON, Sept 14 (Reuters) – The largest U.S. fuel line resumed partial operations Tuesday as oil and gas facilities weathered hurricane Nicholas’ landfall in Texas, suffering less damage than in Hurricane Ida two weeks earlier. Rains, flooding and power outages affected Texas and Louisiana, which were still trying to recover from Hurricane Ida. That storm … Read more
The logo of Mexican state oil company Petroleos Mexicanos (Pemex) is pictured at a gas station in Ciudad Juarez, Mexico February 27, 2020. REUTERS/Jose Luis Gonzalez MEXICO CITY, Sept 15 (Reuters) – Mexican state oil company Petroleos Mexicanos (Pemex) has canceled three contracts with Vitol, the latest fallout from a U.S. bribery case involving the world’s largest … Read more
Bill Ireland, CEO of Logan Energy discusses hydrogen as a fuel source, what markets will be quick to adapt to technologies and innovations that help decarbonize, and how hydrogen fits within the energy landscape as the world works towards hitting 2050 climate targets. To learn more about the Global Energy Show, or to register, please … Read more
Monthly Oil Statistics The latest IEA’s Monthly Oil Statistics report including June 2021 data shows that for Total OECD: Total OECD production of crude oil, NGL and refinery feedstocks increased by 7.0% in June 2021 compared to June 2020. Refinery gross output of total products increased (12.0%) on a year-on-year basis. Net deliveries of total products grew in June 2021 compared to June … Read more
Monthly Gas Statistics The latest IEA’s Monthly Gas Statistics report including June 2021 data shows that for Total OECD: Production of natural gas increased by 1.3% compared to June 2021. Imports (entries)1 of natural gas were 1.8% lower on a year-on-year basis, and total OECD exports (exits)1 decreased by 2% in the same period. Gross consumption of natural gas increased by 4% in June 2021 … Read more
Sept 14 (Reuters) – U.S. energy producers have cut so deeply into a once-large reserve of oil wells waiting to be turned on they soon may have to resume drilling to keep production from sagging, executives and analysts said. This would mean an increase in spending which could unsettle investors who have benefited from shale … Read more
PRODUCT LAUNCH Hazloc Heaters is pleased to announce the introduction of the XEC1 ProTektor Series of explosion-proof convection air heaters certified to the most current Canadian and American Division and Zone system standards (CCSAUS). The XEC1 ProTektor Series of explosion-proof convection air heaters are designed for maximum heating performance and to provide primary or supplementary heating … Read more
Sep 14, 2021 (Bloomberg) Oil rose for a third day as broader markets climbed after U.S. consumer prices data missed expectations, while China said it would sell oil from its strategic reserves. Crude futures gained 0.9% in New York. The dollar dived after U.S. consumer prices rose less than forecast, making commodities priced in the currency more attractive, … Read more
By Tom Randall (Bloomberg) Redwood Materials Inc., the battery recycling company created by Tesla Inc. co-founder J.B. Straubel, has been keeping a big secret: It isn’t really a recycling company. Sure, Redwood has risen quickly to become the biggest lithium-ion battery recycler in the U.S.. But Straubel didn’t leave Tesla in 2019 just to clean out America’s junk drawers. His broader goal, described … Read more
The Shell Norco manufacturing facility is flooded after Hurricane Ida pummeled Norco, Louisiana, U.S., August 30, 2021. REUTERS/Devika Krishna Kumar/File Photo Sept 13 (Reuters) – Evacuations were underway on Monday from offshore U.S. Gulf of Mexico oil platforms as onshore oil refiners began preparing for rain and heavy winds from a second hurricane in as … Read more
LONDON, Sept 14 (Reuters) – After a three-month slide in global oil demand due to the spread of the Delta variant of COVID-19 and pandemic restrictions especially in Asia, vaccine roll-outs are set to power a rebound, the International Energy Agency (IEA) said on Tuesday. “Already signs are emerging of COVID cases abating with demand … Read more
A satellite image shows Tropical Storm Nicholas in the Gulf of Mexico September 12, 2021. NOAA/Handout via REUTERS/File Photo Sept 14 (Reuters) – Texas energy company CenterPoint Energy Inc (CNP.N) said on Tuesday that about 400,000 homes and businesses in its Houston-area service territory were without power as Tropical Storm Nicholas drenches the city. That represents about … Read more
A Chevron gas station sign is seen in Del Mar, California, April 25, 2013. REUTERS/Mike Blake/File Photo Sept 14 (Reuters) – Chevron Corp (CVX.N) said on Tuesday it has tripled its low-carbon investment to $10 billion through 2028, as global oil companies rush to shift away from the fossil fuel due to the mounting pressure from investors … Read more
Reuters An array of solar panels is seen in the desert near Victorville, California, U.S. March 28, 2018. REUTERS/Lucy Nicholson Sept 14 (Reuters) – New U.S. solar installations soared 45% in the second quarter and are on track for a record year despite a supply chain squeeze that has increased the cost of both residential … Read more
By Geoffrey Cann Will there be one blockchain to rule them all in oil and gas? Very definitely not, if my conclusions are correct. The One Blockchain Idea I’m chairing a panel discussion this week on the topic of blockchain futures as part of the 5th Annual Blockchain In Oil and Gas conference, organized by the Energy … Read more
U.S. President Joe Biden, aboard the Marine One helicopter, inspects the damage from Hurricane Ida on an aerial tour of communities in Laffite, Grand Isle, Port Fourchon and Lafourche Parish, Louisiana, U.S. September 3, 2021. REUTERS/Jonathan Ernst/Pool/File Photo Sept 13 (Reuters) – Goldman Sachs said Hurricane Ida had a larger impact on oil production than … Read more
Sep 13, 2021 (Bloomberg) The dilemma Norwegians face in Monday’s election is how to reconcile their embrace of electric cars and environmental awareness with the need to wean their oil-rich economy off its key source of wealth. The release of a landmark United Nations-backed report urging drastic measures to end carbon emissions has thrust climate change to the … Read more
Sep 13, 2021 (Bloomberg) Oil rose to hits highest level in just under six weeks as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter.West Texas Intermediate added 0.9%, while the global Brent benchmark also nudged higher out of its recent narrow … Read more
As industrial automation evolved from its humble beginning, people imagined and searched for tools to streamline routine and repetitive tasks accurately and efficiently. Although the industrial revolution started in the 1800’s with the invention of railroads and electricity it wasn’t until after World War II that automation began its rapid evolution. Factories were retooled to support the war effort and since then industrial automation has exploded. Deployment of industrial Robots General Motors started deploying prototype robots in … Read more
Anyone who has worked with hydraulic cylinders is familiar with the general structure and function of this linear actuator, and most understand the importance of protecting the rod from damage. Scoring, pitting, or nicks in the chrome surface will ruin seals and result in fluid leaking from the cylinder gland – a problem that will … Read more
How to determine the right products for your flammable hazard monitoring needs Today’s flame detectors utilize optical technologies to detect flames. Flames are known to emit electromagnetic radiation in the infrared (IR), visible light, and ultraviolet (UV) wavelengths depending on the fuel source. Because of this, optical flame-sensing technologies have been developed utilizing UV, UV/IR … Read more
Sept 10 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a fifth time in six weeks as offshore oil units in the Gulf of Mexico slowly started to return after Hurricane Ida slammed into the coast. This week, 4 offshore oil rigs returned in Louisiana, energy services firm Baker … Read more
Downhole restrictions can have a significant impact on wellbore access, well integrity and well production. In this video example, an operator in South East Asia planned a re-perforation campaign on a selection of wells to increase production. However, when performing an initial drift on one of the primary candidates, the slickline crew encountered an unknown … Read more
Specialists perform an above-water tie-in while finishing the construction of the Nord Stream 2 gas subsea pipeline onboard the laybarge Fortuna in the Baltic Sea, September 8, 2021. Picture taken September 8, 2021. Nord Stream 2/Handout via REUTERS Summary Gazprom says it has finished construction of Nord Stream 2 Natural gas pipeline to Germany bypasses … Read more
Siemens Gamesa has come up with new resin that allows blades to be broken down with heat and acetic acid Bloomberg News Siemens Gamesa Renewable Energy has developed a fully recyclable wind turbine blade. PHOTO BY VINCENT WEST/REUTERS FILES Spanish wind-turbine maker Siemens Gamesa Renewable Energy SA is offering customers a blade that’s fully recyclable in … Read more
Sep 10, 2021 (Bloomberg) TC Energy Corp. is the latest Canadian pipeline company allowed to keep its insurers confidential as activist groups push firms to drop business with the fossil fuels industry.The Canada Energy Regulator ruled that the names of TC Energy’s insurers are “commercial information” and the midstream company has met the requirement of “consistently treating” this … Read more
LONDON, Sept 10 (Reuters) – OPEC wil likely revise down its 2022 oil demand growth forecast on Monday, two OPEC+ sources said, as the spread of the Delta coronavirus variant puts the speed of a recovery in fuel use in doubt. On Sept. 1, separate sources said the Organization of the Petroleum Exporting Countries and … Read more
Sep 10, 2021 (Bloomberg) Phillips 66 may idle a New Orleans-area refinery that suffered so much damage during Hurricane Ida that repairs may be too costly, according to people familiar with the operation.Chief Executive Officer Greg Garland is expected to visit the Alliance refinery in the suburb of Belle Chasse, Louisiana, next week, said the people, … Read more
By John Kemp Snow covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland March 18, 2014. REUTERS/Gary Cameron (UNITED STATES)/File Photo LONDON, Sept 9 (Reuters) – Global gas prices have climbed to their highest level for seven years in real terms, as traders anticipate a shortage … Read more
The Bryan Mound Strategic Petroleum Reserve, an oil storage facility, is seen in this aerial photograph over Freeport, Texas, U.S., April 27, 2020. REUTERS/Adrees Latif/File Photo HOUSTON, Sept 10 (Reuters) – U.S. offshore oil companies restored almost 200,000 barrels of production on Friday, while most of the Gulf Coast crude output remained offline following Hurricane … Read more
Sep 10, 2021 (Bloomberg) Rising costs for solar panels threaten to slow the transition to clean energy that’s needed to curb climate change, according to a report from Rystad Energy. Global prices for solar panels have climbed 16% this year, largely because costs for polysilicon and silver have increased, Rystad said Friday. That’s been exacerbated by pandemic-related … Read more
Communities across the Louisiana Gulf Coast Face Long Road to Recovery Sep 10, 2021 HOUSTON, Sept. 10, 2021 /PRNewswire/ — In the aftermath of Hurricane Ida, Shell Oil Company announced today it will contribute more than $5 million in combined community and employee relief and recovery initiatives. “Shell has been operating in the parishes of Louisiana’s Bayou and River Regions for … Read more
Sep 10, 2021 (Bloomberg) Chevron Corp. has inked eight deals in little more than two weeks to invest in hydrogen, green jet fuel and renewable natural gas. Amid rising shareholder pressure on climate issues, Chevron is pro-actively forging climate-friendly joint ventures with an array of startups as well as corporate giants that include Caterpillar Inc., and … Read more
Sep 10, 2021 (Bloomberg) Harvard University will stop investing in fossil fuels and instead use its giant $42 billion endowment to support the green economy, joining a growing wave of investors moving away from pollutive industries. Harvard Management Co., which runs the endowment, has no investments in companies that explore for or develop fossil fuels and … Read more
Sep 10, 2021 (Bloomberg) Oil gained a third week as investors focused on the ongoing production shut-ins in the U.S. Gulf of Mexico as more refineries have resumed operations nearly two weeks after Hurricane Ida tore through the region. Futures in New York posted its longest set of weekly gains since July after ending Friday 2.3% … Read more
(Bloomberg) In Iceland’s barren landscape, a new container-like structure has risen alongside plumes of steam near the Hellisheidi geothermal power plant. Its job is to reverse some of the damage carbon-dioxide emissions are doing to the planet. The facility, called Orca and built by Swiss startup Climeworks AG, will suck CO₂ out of the air. Icelandic startup Carbfix will then pump … Read more
WASHINGTON, Sept 9 (Reuters) – The U.S. Treasury’s top climate official on Thursday said programs to accelerate the closure of coal-fired power plants are an “absolutely critical part” of fighting climate change but carry some risks. In an interview with Reuters, Treasury Climate Counselor John Morton endorsed a scheme being developed by the Asian Development … Read more
WASHINGTON, Sept 9 (Reuters) – The House Natural Resources Committee late on Thursday passed legislation that will go into a wider budget reconciliation package that includes restoring protections for a pristine Arctic wildlife refuge from oil and gas drilling. The committee approved the measure 24-13 after Republicans weighed down the process with about 100 amendments … Read more
WASHINGTON, Sept 9 (Reuters) – The U.S. Energy Department said on Thursday it has approved a second loan of 1.5 million barrels of oil to Exxon Mobil Corp (XOM.N) from the Strategic Petroleum Reserve (SPR) after damage from Hurricane Ida devastated offshore oil production. “The SPR’s ability to conduct exchanges is a critical tool available to … Read more
Sep 9, 2021 (Bloomberg) Congressional Democrats are poised to advance sweeping legislation to combat climate change that would, if the Senate goes along, block drilling in most U.S. offshore waters and invest tens of billions of dollars in resilience measures.The bill, set to be approved by the House Natural Resources Committee on Thursday, would also slap … Read more
Sep 8, 2021 (Bloomberg) U.S. natural gas futures soared to a seven-year high amid escalating concerns about tight supplies heading into the winter-heating season.Gas prices are soaring across the northern hemisphere as anxiety mounts about the prospects of a supply crunch in coming weeks when cold weather begins to descend and homeowners switch on furnaces. A … Read more
A road sign directs traffic towards the Nord Stream 2 gas line landfall facility entrance in Lubmin, Germany, September 10, 2020. REUTERS/Hannibal Hanschke/File Photo MOSCOW, Sept 9 (Reuters) – Pumping commercial natural gas supplies via the Nord Stream 2 gas pipeline will not start until a German regulator gives the green light, Russia’s Foreign Ministry … Read more
WASHINGTON, Sept 9 (Reuters) – The White House said on Thursday that President Joe Biden plans to nominate regulatory lawyer Willie Phillips to serve as a commissioner on the Federal Energy Regulatory Commission (FERC), a panel that could play an increasingly important role in his effort to fight climate change. Phillips, a Democrat and chair … Read more
Sep 9, 2021 (Bloomberg) Oil swung between gains and losses with continued supply disruption in the U.S. weighed against an uncertain demand outlook in some regions.Futures lost 0.2% in New York, erasing earlier gains. Just over 20% of U.S. Gulf of Mexico oil output is back online after Hurricane Ida hit Louisiana, marking a slower comeback than in … Read more
Sep 8, 2021 (Bloomberg) The prolonged shutdown of Gulf of Mexico oil production in the wake of Hurricane Ida is creating an opportunity for Russia to expand its share of the U.S. oil market. Imports of Russian oil Urals to the U.S. are set to increase in September and October as 77% of U.S. Gulf offshore … Read more
Sep 9, 2021 (Bloomberg) Some of the world’s biggest economies are seeing oil consumption turn the corner and even surpass pre-pandemic levels as falling Covid-19 infection rates drive a recovery in activity.Oil demand in China, the world’s top energy consumer, will be 13% higher next quarter than in the same period in 2019 before the pandemic, … Read more
Sep 9, 2021 (Bloomberg) Imagine if you will a network of n things, each of which is connected to each other. When n is a small number, there are only a small number of total connections, but as n grows, the number of total connections grows more. In a small network — where n = five, the size of a basketball team — the … Read more
Sep 9, 2021 (Bloomberg) Saudi Aramco is considering a bold move to open up one of the world’s largest unconventional gas fields to foreign investors, as it looks to fund a $110 billion project to help it diversify from oil sales, according to people familiar with the matter.The state-controlled producer is working with an adviser as … Read more
Sept 9 (Reuters) – Royal Dutch Shell Plc (RDSa.L) is beginning the redeployment of personnel to its Appomattox platform in the Gulf of Mexico while damage assessments are continuing at its West Delta-143 (WD-143) offshore facility after Hurricane Ida. As of Wednesday, more than three-quarters of the U.S. Gulf of Mexico’s offshore oil and natural gas … Read more
Summary Shell considers mandate for offshore operations Some U.S. operations already have “soft enforcement” Trading floors exploring vaccination mandate LONDON, Sept 9 (Reuters) – Royal Dutch Shell is considering making it mandatory for workers in some operations to get COVID-19 vaccinations or risk being fired, an internal company document seen by Reuters shows. The energy … Read more
Sept 9 (Reuters) – U.S. oil major Exxon Mobil Corp (XOM.N) said on Thursday it had made a discovery at Pinktail in the Stabroek Block offshore Guyana, as it develops one of the world’s most important new oil and gas blocks in the last decade. Exxon operates the 6.6-million-acre Stabroek Block as part of a consortium … Read more
By Devika Krishna Kumar NEW YORK, Sept 8 (Reuters) – U.S. crude oil production is expected to fall by 200,000 barrels per day (bpd) in 2021 to 11.08 million bpd, the U.S. Energy Information Administration (EIA) said on Wednesday, noting that Hurricane Ida should force a bigger decline than its previous forecast for a drop … Read more
by ENERGYminute See more articles and infographics from ENERGYminute HERE Good for more than just filling party balloons, helium is used in industries like medical technology, cleantech, space exploration, and cooling. Its noble gas properties are ideal for creating non-reactive, non-toxic environments for industrial use. However, despite increased demand for helium from cleantech and other emerging … Read more
WASHINGTON, Sept 8 (Reuters) – The Biden administration on Wednesday released a report showing that the United States can get 40% of its electricity from solar energy by 2035 – a significant ramp up from its current share of generation. The Solar Futures Study outlines how solar energy can help decarbonize the U.S. power grid … Read more
The exterior of the Schlumberger Corporation headquarters building is pictured in the Galleria area of Houston January 16, 2015. REUTERS/Richard Carson/File Photo DENVER, Sept 8 (Reuters) – Schlumberger NV (SLB.N), the world’s leading oilfield service provider, expects to materially grow its margins and cashflow over the medium and short term horizons, Chief Executive Officer Olivier Le … Read more
Sept 8 (Reuters) – Oilfield service firms Schlumberger (SLB.N) and Baker Hughes (BKR.N) are counting on newer energy transition businesses like carbon capture and hydrogen fuel for growth, and expect these clean energy units to rival some of their more traditional units by the next decade, executives said on Wednesday. Schlumberger estimates that global investments for industries moving … Read more
Sep 8, 2021 (Bloomberg) Oil edged higher as investors considered a demand outlook clouded by the comeback of Covid-19 in many regions and the continued impact of Hurricane Ida on U.S. output. Futures climbed toward $69 a barrel in New York. Almost 80% of U.S. Gulf of Mexico oil production remained shut in on Tuesday. The … Read more
Sep 7, 2021 (Bloomberg) An oil spill unleashed by Hurricane Ida is highlighting longstanding concerns about the more than 18,000 miles of decommissioned pipelines that still snake through the Gulf of Mexico, even though they no longer transport crude and natural gas.The spill, roughly three miles from the Louisiana coast, is believed to have sprung from … Read more
DUBAI, Sept 8 (Reuters) – U.S. contract oil and gas driller Helmerich & Payne (H&P) (HP.N) will invest $100 million in the initial public offering (IPO) of Abu Dhabi National Oil Company’s drilling unit, the companies said in a joint statement. The cornerstone investment by H&P will be at the IPO price and is subject to … Read more
Sept 8 (Reuters) – LyondellBasell (LYB.N) said on Wednesday it was considering strategic options for its Gulf Coast-based Houston refinery, including a potential sale. The refinery, under LyondellBasell’s ownership since 2006, is one of the largest in the United States, with capacity to transform 268,000 barrels per day of crude oil into transportation fuels. “While the … Read more
HOUSTON, Sept 7 (Reuters) – Stronger hurricanes threatening the U.S. Gulf Coast energy hub are elevating the risks of oil spills from damage to area refineries, oil platforms and subsea pipelines, say experts. On Monday, the U.S. Coast Guard said it was investigating nearly 350 reports of spills in and along the Gulf after Hurricane … Read more
COPENHAGEN, Sept 8 (Reuters) – The world’s largest plant that sucks carbon dioxide directly from the air and deposits it underground is due to start operating on Wednesday, the company behind the nascent green technology said. Swiss start-up Climeworks AG, which specialises in capturing carbon dioxide directly from the air, has partnered with Icelandic carbon … Read more
Summary Ida could cut annual U.S. oil output by up to 30 million barrels Gulf of Mexico thunderstorms may lead to a cyclone by Thursday HOUSTON, Sept 7 (Reuters) – Hurricane Ida’s damage to U.S. offshore energy production makes it one of the most costly since back-to-back storms in 2005 cut output for months, according … Read more
HOUSTON, Sept 7 (Reuters) – Exxon Mobil Corp (XOM.N) on Tuesday said it will begin measuring methane emissions from production of natural gas at a New Mexico facility, joining a number of shale gas producers seeking to provide the data to buyers. The largest U.S. oil company, under pressure from investors and environmentalists to address climate … Read more
September 08, 2021 Partnership has facilitated 198,000 hours of clean energy job training and more than 4,500 solar only or solar and battery installations in low-income communities SAN FRANCISCO, Sept. 08, 2021 (GLOBE NEWSWIRE) — Sunrun (Nasdaq: RUN), the nation’s leading home solar, battery storage, and energy services provider, and GRID Alternatives, a national nonprofit … Read more
Ofer Vicus, CEO of Aduro Clean Technologies discusses using Aduro technology to improve on existing practices, working towards a lower carbon future while increasing profitability, and making the energy industry more financially and environmentally sustainable. Ofer: “We want to enable western oil producers by way of example – Make good on their promises while making … Read more
Insights with Insight – Barben Online Webinar with Phil Harris Thursday, September 9th | 12:00pm MDT Our upcoming webinar will feature the Barben Analytical OXYvisor Oxygen Analyzer. Join us on September 9th and learn about this Process Oxygen Innovation! Barben Analytical Process Oxygen Innovation! The OXYvisor is a process oxygen analyzer, best utilized to measure oxygen … Read more
Sep 7, 2021 (Bloomberg) Brent oil erased gains as the dollar rose, even as Chinese trade data added to positive economic signs emerging from key energy users. Crude in London held steady, after earlier climbing as much as 0.8%, with the dollar’s gain making commodities priced in the currency less attractive. Still, growth in Chinese exports last month … Read more
Oil rigs are seen in the Gulf of Mexico after Hurricane Ida made landfall in Louisiana, in Grand Isle, Louisiana, U.S. August 31, 2021. REUTERS/Marco Bello/File Photo NEW YORK, Sept 6 (Reuters) – More than 80% of oil production in the Gulf of Mexico remains shut in after Hurricane Ida, a U.S. regulator said on … Read more
Sept 7 (Reuters) – Enbridge Inc (ENB.TO) said on Tuesday it was buying logistics company Moda Midstream Operating LLC from private-equity firm EnCap Flatrock Midstream for $3 billion in cash, as the pipeline company ramps up its operations in the U.S. Gulf Coast region. Oil companies are strengthening their presence in the U.S. oil patch as … Read more
MOSCOW, Sept 7 (Reuters) – The head of Russia’s No. 2 oil producer Lukoil (LKOH.MM) said that oil prices of $65-$75 were “comfortable” for consumers and that the OPEC+ group of leading oil-producing nations was striving to maintain that price range by regulating output. In an interview with the Kommersant newspaper published on Tuesday, Vagit Alekperov … Read more
Sept 3 (Reuters) – Chevron Corp (CVX.N) is looking to sell its oil and gas assets in the Eagle Ford Basin in south Texas, according to sources familiar with the matter and a marketing document seen by Reuters. A spokesperson confirmed that the company was marketing the assets for sale, adding the oil major regularly reviews … Read more
Sept 3 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in five weeks, with the oil rig count alone falling the most since June 2020 after Hurricane Ida hit the United States. The combined oil and gas rig count, an early indicator … Read more
by Michelle Heath and Aaron Foyer More From ENERGYminute: Hydrogen Series: The Colors of Hydrogen | The Hydrogen Economy | Production Costs Sep 2nd 2021 | Coal, Electricity, Emissions, Energy, Hydrogen, Natural Gas, Renewable Energy, Sustainability There exists significant potential for hydrogen to play a role powering our future communities. There is a range for the production costs of hydrogen associated with the delivery of low-carbon green or blue hydrogen … Read more
Sep 5, 2021 (Bloomberg) Saudi Arabia cut oil prices for sales to Asia next month by more than twice the expected amount in a sign the world’s largest crude exporter wants to entice buyers to take more of its barrels.State producer Saudi Aramco is rolling back pricing on all of its grades to its biggest market … Read more
Sep 6, 2021 (Bloomberg) Oil extended losses after Saudi Arabia slashed crude prices for Asian buyers, raising the prospect of fierce competition among sellers as the resurgence of Covid-19 continues to cloud the demand outlook. Futures in New York traded near $69 a barrel, paring some losses after earlier dropping as much as 1.5%. The kingdom cut the … Read more
The Shell Norco manufacturing facility is flooded after Hurricane Ida pummeled Norco, Louisiana, U.S., August 30, 2021. REUTERS/Devika Krishna Kumar HOUSTON, Sept 5 (Reuters) – Damage to oil production facilities in the U.S. Gulf of Mexico kept output largely halted on Sunday, a week after Hurricane Ida made landfall, according to offshore regulator the Bureau … Read more
Digital transformation is crucial when shooting for success in today’s world. Countless companies have been severely impacted due to the COVID-19 pandemic. Even before the pandemic, companies are faced with increasing pressures globally with uncertainties in regulations, fluctuations in global economic climate and low oil prices are forcing companies to think outside the box. Now more than ever, companies are pushed to … Read more
Over the course of a year, Steelhaus collaborated with its industry partners and their in-house New Product Development team to create the now field proven and remarkably reliable ReacXion Nano Frac Plug. Their singular goal: vastly improve degradable plug performance in deformed and debris laden casing. In addition, the new line of ReacXion Plugs have … Read more
Every year, American oil producers are leaving millions of dollars on the table in the form of untreated brine water. Often left in storage, or pumped back underground, this operational waste can be distilled and resold for beneficial reuse in agriculture, industrial processes, and in the public sector: commercializing an increasingly scarce resource and turning … Read more
CREATING A CULTURE OF SAFETY In the energy industry, getting every worker home safely at the end of a shift is of critical importance. However, safety should be more than just the focus of a few designated roles within an organization. Instead, a successful safety program requires creating a culture of safety that permeates all departments and all levels … Read more
Sep 3, 2021 (Bloomberg) Five days after Hurricane Ida slammed into Louisiana, the true damage to the region’s energy infrastructure is only now starting to come to light. The challenges for companies to get out and inspect has been as much on land as at sea. Roads have not only been inundated with water, but trees … Read more
Sep 3, 2021 (Bloomberg) Oil in New York posted its second weekly gain as the impact of Hurricane Ida continues to snarl U.S. oil production, though prices edged lower Friday following a weak U.S. jobs report.West Texas Intermediate futures capped a gain 0.8% for the week despite shedding 1% Friday. The deceleration in hiring reflects growing fears of … Read more
Sep 4, 2021 (Bloomberg) Natural gas prices are undergoing a historic surge, and it’s bad news for everyone from ceramic makers in China to customers of patisseries in Paris. The cost of the fuel is already at record seasonal highs in most major markets and looks likely to rise further, threatening to dent the recovery from … Read more
Sept 3 (Reuters) – Insurers are bracing for a hit of about $1 billion from physical damage to offshore rigs and structures from Hurricane Ida, according to preliminary estimates from U.S. property data and analytics company CoreLogic. The estimate did not include losses from production disruption and could be revised over time, a spokesperson for … Read more
Sept 3 (Reuters) – U.S. Gulf Coast energy companies on Friday advanced the recovery from Hurricane Ida on a few fronts, but slipped elsewhere as lack of crews, power and fuel reversed earlier production gains. Ports were reopening and some pipelines restarted as companies completed post-storm evaluations. However, larger hurdles remained for producers and refiners … Read more
From ENERGYminute See more articles and infographics from ENERGYminute HERE Courtesy of Pond5 Do customers prefer electric vehicles over gas-powered ones? Much of the reporting on the electric vehicle industry has focused on ‘when’ customers will switch, and not ‘if’ or ‘why’. The switch to electric was simply assumed. But, much like our assumption that … Read more
Sep 3, 2021 (Bloomberg) Oil headed for a back-to-back weekly gain as traders weighed the impact of Hurricane Ida on U.S. oil infrastructure, and ahead of key American jobs data. West Texas Intermediate futures rose further on Friday and were 2.2% higher for the week. Exxon Mobil Corp. is tapping the U.S. Strategic Petroleum Reserve with more … Read more
Sep 3, 2021 (Bloomberg) European energy executives warned of a difficult winter ahead as natural gas prices soar to records, a grim prospect for households and businesses recovering from the global pandemic. Gas prices in Europe are breaking records day after day as economies reopen and people return to the office, boosting demand just as supplies … Read more
Sept 2 (Reuters) – Most ports along the U.S. Gulf Coast had reopened on Thursday following lengthy closures from Hurricane Ida, which lashed southern Louisiana with 150-mile-per-hour winds that caused extensive infrastructure damage and floods. Two of Louisiana’s main ports, New Orleans and Baton Rouge, reopened late on Wednesday, according to the U.S. Coast Guard. … Read more
LOS ANGELES/WASHINGTON, Aug 31 (Reuters) – The Biden administration plans to make federal lands cheaper to access for solar and wind power developers after the clean power industry argued in a lobbying push this year that lease rates and fees are too high to draw investment and could torpedo the president’s climate change agenda. Washington’s … Read more
Check-out our 3 promotional offers that help support your marketing efforts by publishing your company content to your targeted energy audience. EnergyNow will deliver your marketing message to our audience of over 325,000 decision makers and energy professionals in North America. We help generate awareness & drive new identifiable sales leads. With each marketing package … Read more
Sep 2, 2021 (Bloomberg) Plumes of the super-warming greenhouse gas methane were spotted over the Midwest last month. U.S. pipeline giant Energy Transfer LP said the releases were triggered by “routine work” on its natural-gas infrastructure.The emissions were likely limited in scope—by one estimate if they lasted an hour they would have roughly the same short-term … Read more
Sep 2, 2021 (Bloomberg) The U.S. Department of Energy has authorized Exxon Mobil Corp. to receive crude from the Strategic Petroleum Reserve to kickstart the production of fuels while most oil production in the Gulf of Mexico remains shut.The oil company will be getting 1.5 million barrels of DOE-supplied oil for its Baton Rouge refinery, the … Read more
Oil rigs are seen in the Gulf of Mexico after Hurricane Ida made landfall in Louisiana, in Grand Isle, Louisiana, U.S. August 31, 2021. REUTERS/Marco Bello/File Photo HOUSTON, Sept 2 (Reuters) – The volume of oil shut in by Hurricane Ida in the Gulf of Mexico rose on Thursday to 1.7 million barrels per day … Read more
Publish your company content on EnergyNow in Canada, U.S. or both. You can post any type of digital content (featured article, video, case study & many others) on our websites, daily newsletters & social media channels. Connect with our energy audience of 375,000+ energy professionals & decision makers. Your post also comes with our … Read more
HOUSTON, Sept 2 (Reuters) – U.S. oil and gas companies strained to get offshore operations back up and running and the White House on Thursday was considering a release of emergency fuel stocks as the extent of Hurricane Ida’s damages became more apparent. Ida’s 150-mile-per-hour (240 kph) winds delivered a direct hit to the nation’s … Read more
Sep 2, 2021 (Bloomberg) Global benchmark Brent oil was little changed, near $72 a barrel, after OPEC+ stuck with a plan to boost crude production, wagering that the market can absorb the additional supply. Following a swift meeting on Wednesday, ministers from the Organization of Petroleum Exporting Countries and its allies ratified a 400,000 barrel-a-day increase … Read more
Sep 2, 2021 (Bloomberg) China is using talks with climate envoy John Kerry to push the U.S. to commit to an improvement in their broader relationship, with one report saying he will meet Beijing’s top diplomat during his visit to the port city of Tianjin. Kerry will speak with Yang Jiechi, a member of the ruling … Read more
Sep 1, 2021 (Bloomberg) Mexico’s President Andres Manuel Lopez Obrador said in his third state-of-the-union address, the halfway point in a six-year term, that he plans to present a bill revamping the energy sector to congress this month. The proposal of a constitutional amendment giving priority to the state utility company, the Federal Electricity Commission, over … Read more
Sep 1, 2021 (Bloomberg) Executive paychecks at America’s biggest oilfield-service providers are returning to pre-pandemic levels after a virus-driven market crash triggered management salary cuts.Last year, 70% of the hired hands of the oil industry slashed base salaries for executives, according to a report released Wednesday by restructuring firm Alvarez & Marsal Inc. and executive-compensation-data provider Equilar Inc. … Read more
HOUSTON, Sept 2 (Reuters) – U.S. oil and gas companies strained to get offshore operations back up and running on Thursday as the extent of Hurricane Ida’s damages became more apparent. Ida’s 150-mile-per-hour (240 kph) winds delivered a direct hit to the nation’s energy infrastructure. About 80% of the Gulf of Mexico’s oil and gas … Read more
Sept 2 (Reuters) – Oil major Chevron (CVX.N) plans to invest $600 million in two soybean crushing facilities owned by U.S. agricultural commodities trader Bunge Ltd (BG.N), securing future feedstock for renewable fuels, the two companies said on Thursday. The investment will result in a 50/50 joint venture, under the memorandum of understanding the two companies said … Read more
September 01, 2021 HOUSTON, Sept. 01, 2021 (GLOBE NEWSWIRE) — Dril-Quip, Inc. (NYSE: DRQ) (the “Company” or “Dril-Quip”) announced today that its Board of Directors has appointed Jeffrey J. Bird as its President and Chief Executive Officer, and elected him to the Board, both effective as of January 1, 2022 to replace Blake T. DeBerry, who will … Read more
CALGARY, Alberta, Sept 1 (Reuters) – Canadian pipeline operator Enbridge Inc (ENB.TO) notified oil shippers on Wednesday that it would offer capacity for 620,000 barrels per day (bpd) on its Line 3 oil pipeline starting in October, signaling confidence in completing the long-delayed project. The aging pipeline, which Enbridge is replacing, carries oil from Alberta to … Read more
By Erwin Seba An aerial view shows a flooded facility after Hurricane Ida made landfall in Louisiana, in Paradis, Louisiana, U.S. August 31, 2021. REUTERS/Marco Bello HOUSTON, Sept 1 (Reuters) – Louisiana oil refineries shut by Hurricane Ida could take weeks to restart, costing operators tens of millions of dollars in lost revenues as they … Read more
Aug 31, 2021 (Bloomberg) The Texas oil refinery that Petroleos Mexicanos is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence.Mexico’s state-owned oil giant agreed in May to buy Royal Dutch Shell Plc’s majority stake in the Deer Park refinery. The … Read more
Sep 1, 2021 (Bloomberg) OPEC and its allies will meet today to review its plans for reviving halted oil production, with delegates expecting the group will ratify another increase in October. With crude prices mostly recovered from their mid-August slump and the supply outlook relatively tight for the rest of the year, the group has little reason to … Read more
Aug 31, 2021 (Bloomberg) Port Fourchon, America’s biggest base supporting the U.S. Gulf of Mexico offshore oil industry, appears to have largely withstood a powerful punch left by Hurricane Ida after the Category 4 storm tore through the Louisiana community. “While damaged, we are hopeful in the fact that a lot of key infrastructure remains and … Read more
Sep 1, 2021 (Bloomberg) Oil was little changed ahead of an OPEC+ meeting that should see further output added to a market that the group sees as needing extra supply.West Texas Intermediate was up 0.2% after losing more than 7% in August, the biggest monthly decline this year. The Organization of Petroleum Exporting Countries and its … Read more
HOUSTON, Sept 1 (Reuters) – Energy companies’ efforts to get workers back to production platforms and refineries to make repairs after Hurricane Ida lashed Louisiana are being stymied by the extent of infrastructure damage from the storm, executives said. Hurricane Ida tore through the U.S. Gulf of Mexico, pushing several feet of water into coastal … Read more
Unused oil rigs sit in the Gulf of Mexico near Port Fourchon, Louisiana August 11, 2010. REUTERS/Lee Celano/File Photo HOUSTON, Aug 31 (Reuters) – More than two dozen oil vessels were clustered off Louisiana seaports on Tuesday as the U.S. Coast Guard and port operators assessed damages wreaked by Hurricane Ida, according to sources and … Read more
WASHINGTON, Aug 31 (Reuters) – A Democratic lawmaker in the U.S. House of Representatives proposed infrastructure legislation on Tuesday that would end oil and gas leases in an Alaskan wildlife refuge while charging billions of dollars more in fees and royalties for offshore drilling elsewhere. The office of House Natural Resources Chairman Raul Grijalva released legislation that … Read more
A road sign directs traffic towards the Nord Stream 2 gas line landfall facility entrance in Lubmin, Germany, September 10, 2020. REUTERS/Hannibal Hanschke KYIV, Aug 31 (Reuters) – The head of Ukraine’s state energy firm Naftogaz said on Tuesday it was not too late for the United States and Germany to block Russia’s Nord Stream … Read more
FORT WORTH, Texas, Aug. 31, 2021 (GLOBE NEWSWIRE) — Contango Oil & Gas Company (NYSE American: MCF) (“Contango” or the “Company”) today announced the successful completion of its previously announced acquisition of low decline, conventional gas assets in the Wind River Basin of Wyoming from ConocoPhillips. Highlights Assets acquired are PDP-heavy assets with a net production … Read more
A multi-functional bio-diesel blending solution provides quick, cost-efficient way to distribute an environmentally friendly product to the market. In early 2021, a client contacted the Sky Eye team about an on-site bio-diesel blending solution to bridge the gap between a refinery, transport trucks and rail transport in Edmonton, AB. Sky Eye was awarded this project … Read more
Eliminate the risk of ground contamination when refueling vehicles and equipment on sites and remote areas. Enviro-Pads’ Refueling Station is ideal for the refueling of vehicles and equipment. Equipment drives onto the contained refueling platform and refuels, containing any spills and/or leaks. This modular system is portable, reusable and setup in an efficient manner. The … Read more
Nathan Petherick, Partner at B&A Planning Group discusses B&A’s custom monitoring program, land-use consideration in the sector, and the services B&A provides to the energy industry. Nathan: “We’re looking at developing climate adaptive strategies in our new communities and using some of those measurements to assess the success of these communities as they move forward.” … Read more
Every business wants to grow and growth needs strategy. In energy, one strategy for continued growth is M&A, especially when the market goes into increased volatility. Year-to-date globally, there are 256 upstream deals with a value of $88.24 billion. This week, i3 Energy closes its acquisition of strategic Central Alberta assets from Cenovus Energy for … Read more
Early detection of unintended hydrocarbon leaks is key to early response, and to avoiding or mitigating adverse environmental, health, safety and business impacts. Robust and reliable round-the-clock monitoring is especially required for high consequence areas. However, timely identifying leaks at remote or unmanned assets in aboveground and offshore segments of the oil and gas network, … Read more
Sep 1, 2021 (Bloomberg) Pressure is increasing on managers of ESG-labeled investment funds to show they’re being truthful with customers about what they’re selling. The heat was really turned up last week when the U.S. Securities and Exchange Commission and BaFin, Germany’s financial regulator, initiated a probe into allegations that Deutsche Bank AG’s DWS Group asset-management arm has been misstating … Read more
Aug 31 (Reuters) – The Biden administration on Tuesday unveiled more than 16,500 acres (6,700 hectares) it plans to auction to oil and gas drillers early next year as it seeks to comply with a U.S. federal court order directing the government to resume its leasing program. While the acreage offered is tiny compared to … Read more
Reuters Unused oil rigs sit in the Gulf of Mexico near Port Fourchon, Louisiana August 11, 2010. REUTERS/Lee Celano/File Photo HOUSTON, Aug 31 (Reuters) – The Louisiana Offshore Oil Port (LOOP), the largest deepwater oil import and export terminal on the U.S. Gulf Coast, has found no major damages to its marine operations during an … Read more
By Geoffrey Cann If you’re submitting a funding request to a competitive call for investment proposals, here’s some tips to help you make the killer pitch. A Pitch Off One of the really great side benefits of my self-defined role as head cheerleader for digital innovation in oil and gas is the constant exposure to … Read more
Aug 31, 2021 (Bloomberg) Oil headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida.West Texas Intermediate fell 0.9% in New York and is down about 7% this month. While Gulf of Mexico crude producers are expected … Read more
Aug 31, 2021 (Bloomberg) OPEC and its allies expect global oil markets will continue to tighten this year even as they revive output, but then flip into surplus again in 2022.The data — to be presented to the group’s Joint Technical Committee on Tuesday — ought to reassure the Organization of Petroleum Exporting Countries and its … Read more
Aug 30, 2021 (Bloomberg) Hurricane Ida’s blow to the oil industry is probably making this Labor Day the most expensive for U.S. drivers since 2014. The storm left parts of the country’s Gulf Coast oil-refining hub in the dark and, for a day, it halted flows on the main pipeline that ships the gasoline made there … Read more
Aug 30, 2021 (Bloomberg) Enbridge Inc.’s Line 3 oil pipeline, expected to be the first new cross-border oil-sands conduit built between Canada and the U.S. in years, received a boost after a Minnesota appeals court rejected a challenge to a water permit.The ruling removes one more hurdle to completion of the 760,000-barrel-a-day pipe that will expand … Read more
A crude oil tanker is seen at Qingdao Port, Shandong province, China, April 21, 2019. REUTERS/Jason Lee SINGAPORE/LONDON/HOUSTON, Aug 31 (Reuters) – China’s demand for spot crude appears to be recovering after nearly five months of slower purchases caused by a shortage of import quotas, drawdowns from high inventories and COVID-19 lockdowns that muted Chinese … Read more
HOUSTON, Aug 31 (Reuters) – Widespread flooding from Hurricane Ida and power outages slowed efforts on Tuesday by energy firms to assess damages at oil production facilities, ports and refineries. Nearly all of Louisiana lost electrical power on Monday after one of the most powerful hurricanes to hit the region downed transmission lines and flooded … Read more
Oilfield equipment is parked at a Basic Energy Services site, as oil and gas activity dips in the Eagle Ford Shale oil field due to the coronavirus disease (COVID-19) pandemic and the drop in demand for oil globally, in Karnes County, Texas, U.S., May 18, 2020. Picture taken May 18, 2020. REUTERS/Jennifer Hiller/File Photo Aug … Read more
A person walks in a flooded street after Hurricane Ida made landfall in Louisiana, in Kenner, Louisiana, U.S. August 30, 2021. REUTERS/Marco Bello Aug 30 (Reuters) – Oil and gas pipeline operators on Monday checked for damage after Hurricane Ida hit major energy hubs as a Category 4 storm on Sunday and caused widespread power … Read more
Aug 30, 2021 (Bloomberg) Hurricane Ida could cost insurers at least $15 billion, according to one of the earliest estimates, as analysts start assessing the damage from one of the most powerful storms to strike Louisiana and the Gulf Coast. That was the low end of a preliminary estimate by Wells Fargo & Co. insurance analysts led by … Read more
Aug 30, 2021 (Bloomberg) The U.S. installed a record amount of wind-generating capacity last year, adding nearly 17,000 megawatts of power on land, according to an Energy Department report being released Monday. Wind energy’s share of total utility-scale generating capacity in the U.S. was only 11% in 2020, behind natural gas at 43% and nuclear and … Read more
August 29, 2021 Reuters Colonial Pipeline Co, the largest petroleum products pipeline in the United States, said on Sunday it would temporarily halt fuel deliveries from Houston to Greensboro, North Carolina, due to Hurricane Ida. The pipeline operator, which carries nearly half the fuel consumed along the U.S. East Coast, said supplies would continue to … Read more
Aug 30, 2021 (Bloomberg) U.S. gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities. Oil reversed early gains as local rigs may have escaped significant damage and the OPEC+ producers’ cartel is expected on Wednesday to endorse a supply increase.Gasoline for October spiked more than 4% in New York before paring its … Read more
A man stands next to a logo of Sinopec, or China Petroleum and Chemical Corporation, at an expo on rubber technology in Shanghai, China September 19, 2018. Picture taken September 19, 2018. REUTERS/Stringer Summary Plans 200,000 tonne/yr hydrogen refuelling capacity by 2025 Sees H2 natural gas production to rise 13.5% on yr Plans 5 mln … Read more
In plug-and-perf operations, it is imperative that the frac plug reaches the desired depth, firmly sets and holds pressure without moving downhole during or after stimulation. The LightningPLUS™ Composite Plug with a reduced OD was developed while working with an operator in the Upper Montney formation of British Columbia out of necessity for a plug … Read more
Challenge: Decades of data-intensive operations have resulted in stockpiles of documents. Terabytes of data is aging in boxes in off-site storage or on the USB drives and laptops of employees. Even more data is trapped in long-forgotten emails, or worse yet the inboxes of now-retired employees. Data sprawl can lead to potential financial, regulatory, and … Read more
Application Description: Flammable and combustible liquid storage tanks are found in industrial facilities such as refineries, petrochemical facilities, bulk storage plants, and marine terminals. Power plants, airports, local fuel companies, and large manufacturing facilities such as automotive and steel plants may also have bulk storage of flammable and combustible liquids. Atmospheric storage tanks are used … Read more
“Cybersecurity: technologies, processes and practices designed to protect networks, computers, programs and data from attack, damage, or unauthorized access.” Today’s employees are connected to the Internet all day every day, communicating with colleagues and stakeholders, sharing critical information, and jumping from site to site. With hackings, data breaches and ransomware attacks on the rise, it … Read more
Cenozon’s FIND – Field Integration and Navigation Data – provides a complete solution for managing field operations. As a mobile app, operators can bring a interactive GIS map of their operations into the field. The application can use GPS to provide turn-by-turn directions to an asset, and once there, provide a complete workflow form. Pigging, … Read more
By Vista Projects Current SCM is a first of its kind. A project-based procurement and materials management software built by procurement professionals for sophisticated 3rd party procurement teams. Now you may be thinking… that didn’t already exist? No, it didn’t. Sure, there is no shortage of procurement software and enterprise resource planning (ERP) systems. But … Read more
EnergyNow’s recent Innovation Month brought to the forefront a number of cutting edge innovative technologies that are not only making many companies more efficient but also having an impact on the global energy environment. The following companies made presentations as part of EnergyNow’s Online Innovation Conference. Please review the list of presenters below … Read more
DUBAI/LONDON, Aug 30 (Reuters) – OPEC+ is likely to keep its oil output policy unchanged when the group meets on Wednesday and continue with its planned modest production increase, three OPEC+ sources told Reuters. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Sept. 1 … Read more
Aug 27 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a fourth week, resulting in the 13th monthly increase in a row, even as a major storm approaches the Gulf of Mexico. The combined oil and gas rig count, an early indicator of future output, rose five in the … Read more
Aug 26, 2021 (Bloomberg) For more than a year, Kristopher Guidry crisscrossed the Texas oil patch, fixing up electrical equipment on drilling rigs. Today, he’s studying to become a home appraiser. Abhinav Mishra was an oil engineer in some of the same fields. In January, he started an internship in Silicon Valley. And Andrew Crum, who ran … Read more
Aug 29, 2021 (Bloomberg) U.S. gasoline futures jumped and oil advanced after Hurricane Ida barreled ashore in Louisiana, disrupting energy supplies in the world’s largest economy at a time of rising commodity prices.Gasoline for October surged as much 4.4% in New York as electronic trading resumed after the weekend break, while West Texas Intermediate was 0.7% … Read more
Aug 29 (Reuters) – Energy firms on Sunday had suspended 1.74 million barrels per day of oil production in the U.S. Gulf of Mexico, according to the Bureau of Safety and Environmental Enforcement (BSEE), as Hurricane Ida slammed into the Louisiana coast as a Category 4 storm. Ida made landfall on Sunday near Port Fourchon, … Read more
KUWAIT, Aug 29 (Reuters) – The increase in oil output agreed last month by OPEC+ nations could be reconsidered at its next meeting on Sept. 1, Kuwait’s oil minister said on Sunday. The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, collectively known as OPEC+, will meet on Wednesday to discuss the … Read more
A view of the ExxonMobil Baton Rouge Refinery in Baton Rouge, Louisiana, U.S., May 15, 2021. REUTERS/Kathleen Flynn/File Photo HOUSTON, Aug 28 (Reuters) – Exxon Mobil Corp (XOM.N) is cutting production at its Baton Rouge, Louisiana, refinery to 50% of its 520,000 barrel-per-day (bpd) capacity ahead of the expected landfall of Hurricane Ida on Sunday, sources familiar … Read more
Aug 29 (Reuters) – Hurricane Ida made landfall on Sunday as a Category 4 storm at Port Fourchon, Louisiana, lashing critical U.S. oil infrastructure with winds up to 150 miles per hour (240 km per hour). The Louisiana Offshore Oil Port (LOOP), the largest privately owned crude terminal in the United States, paused deliveries ahead … Read more
Aug 27 (Reuters) – Energy companies on Friday cut 59% of U.S. Gulf of Mexico crude oil production, or 1.64 million barrels, as the ninth-named storm of the hurricane season barreled toward the key U.S. offshore oilfields, according to the Bureau of Safety and Environmental Enforcement (BSEE). Hurricane Ida was off the western tip of … Read more
Summary Energy firms cut 1.6 million barrels, 59% of Gulf of Mexico oil Workers flee 90 offshore facilities; refiners cut production HOUSTON, Aug 27 (Reuters) – U.S. oil and gas companies on Friday cut more than 1.6 million barrels of oil production as a major storm churned toward oilfields that provide 17% of the nation’s … Read more
Aug 27, 2021 (Bloomberg) Mexico’s lumbering state-owned oil company has had a difficult summer. First, Petroleos Mexicanos had to put out a gas-induced blaze that literally set alight the waters of the Gulf. Then its already floundering bonds were downgraded deeper into junk territory by Moody’s Investor Service, which cited the company’s increasing business risk as it struggled under a $115 billion mountain … Read more
Aug 27, 2021 (Bloomberg) Oil headed for the biggest weekly gain in 11 months as market focus shifted to the outlook for U.S. economic stimulus and a storm that is menacing the Gulf of Mexico. Futures in New York rose above $68 a barrel and are up almost 10% for the week. Oil producers in the … Read more
Electric cars charge on a street in London, Britain, February 4, 2020. REUTERS/Antonio Bronic LONDON, Aug 26 (Reuters) – Net zero emission targets will require widespread adoption of fully electric vehicles by private motorists but there are significant social and economic barriers that will have to be overcome to make this a reality. Motorists’ fears … Read more
HOUSTON, Aug 27 (Reuters) – U.S. oil and gas companies on Friday raced to complete evacuations from offshore Gulf of Mexico platforms as Tropical Storm Ida advanced towards oilfields that provide 17% of the nation’s oil production. The storm early Friday was about 50 miles northwest of Grand Cayman Island moving north at 15 miles … Read more
Courtesy of Giphy In 2001, Derek Zoolander introduced us to blue steel. 20 years later, Hybrit has introduced us to green steel. Both make the world a better place, but only one has a Center for Kids Who Can’t Read Good. What happened: As a partnership of Swedish manufacturing, mining, and energy companies, Hybrit has officially manufactured carbon-free … Read more
Aug 25, 2021 (Bloomberg) Americans are still buying up fuel to make the most of summer travel despite a new wave of Covid-19 outbreaks, allaying fears a resurgent virus would choke off the oil market’s remarkable recovery this year. Fuel consumption, measured by the amount of gasoline sent to the market, last week rose to the … Read more
Aug 26, 2021 (Bloomberg) Brent oil dropped following its biggest three-day gain since November, with the latest Covid-19 resurgence still clouding the outlook for fuel demand. Futures in London fell below $72 a barrel after adding more than 10% over the past three sessions. Shrinking U.S. stockpiles, a rebound in Indian demand and China’s containment of its latest outbreak are … Read more
Aug 25, 2021 (Bloomberg) Vaccine mandates are beginning a march across the U.S., constricting the places that people who have shunned the shots can work, shop and play.A day after the federal Food and Drug Administration approved the Pfizer BioNTech vaccine, institutions central to their regions announced tougher — perhaps bellwether — rules. In New York, … Read more
Aug 26, 2021 (Bloomberg) Shares of China Evergrande Group’s electric vehicle unit are collapsing in Hong Kong, wiping about $80 billion from what was the property developer’s most valuable listed asset. China Evergrande New Energy Vehicle Group Ltd. sank as much as 22% Thursday after its parent said the unit lost 4.8 billion yuan ($740 million) … Read more
Aug 24 (Reuters) – The Biden administration said on Tuesday it would take steps to restart the federal oil and gas leasing program in the next week and plans to hold a Gulf of Mexico auction as soon as October, court papers showed. The move comes two months after the U.S Interior Department first said … Read more
Aug 26, 2021 (Bloomberg) Australian oil & gas producer Santos Ltd. will be challenged in court on its claim to have a “clear and credible” path to net zero greenhouse gas emissions from its operations, in a case brought by a climate activist group.The Adelaide-based company engaged in misleading or deceptive conduct when it said in … Read more
Aug 25, 2021 (Bloomberg) Endangered butterflies and desert fish would get millions of dollars in federal funding while oil companies would face new fees and a ban on most offshore drilling under a plan floated by House Democrats.The details were summarized in a document seen by Bloomberg News. The document was prepared by staff on the … Read more
Aug 25, 2021 (Bloomberg) President Joe Biden urged a group of chief executive officers to help improve cybersecurity across the nation’s critical infrastructure and economy, citing a lack of trained professionals to adequately protect the U.S. “Our skilled cybersecurity workforce is not growing fast enough to keep pace,” Biden said Wednesday at a meeting with chief … Read more
U.S. oil company Phillips 66 headquarters in Houston, Texas, U.S., September 27, 2020. Picture taken September 27, 2020. REUTERS/Gary McWilliams Summary U.S. refiner holding talks with a potential buyer -sources Sale of 50-year-old refinery reflects ‘evolving’ fuel market HOUSTON, Aug 24 (Reuters) – The fourth-largest U.S. refiner Phillips 66 (PSX.N) on Tuesday said it has put the … Read more
NEW YORK, Aug 25 (Reuters) – Crude inventories last week dropped for a third straight week while fuel demand rose to its highest since March 2020, the Energy Information Administration said on Wednesday. Crude inventories fell by 3 million barrels in the week to Aug. 20, slightly higher than analysts’ expectations in a Reuters poll for … Read more
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