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Airline CEOs urge White House support for greener aviation fuel

WASHINGTON (Reuters) – The CEOs of American Airlines, United Airlines and Delta Air Lines and other airline officials met virtually with White House officials Friday to discuss tackling aviation pollution and urge U.S. support for greener aviation fuel. United Chief Executive Scott Kirby made clear the carrier was fully committed to confronting the climate crisis … Read more Airline CEOs urge White House support for greener aviation fuel

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Texas power crisis could cripple small marketers, unravel market deregulation

HOUSTON (Reuters) – Retail power marketers in Texas are appealing multi-million dollar bills from last week’s blackout that they say could cripple them and unravel Texas’ nearly two-decade-old experiment as the most deregulated U.S. electricity market. Wholesale prices, which last year averaged $26 a megawatt hour, soared to $9,000 per MWh for days as grid … Read more Texas power crisis could cripple small marketers, unravel market deregulation

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The Winners and Losers in Energy Sector from Texas Cold Snap

By Reuters Staff (Reuters) – A winter storm that hit parts of the southern United States over the past week led several energy companies to report stronger-than-expected results after they were called on to provide more power at higher prices, while others faced millions of dollars in losses. Here is a look at the winners … Read more The Winners and Losers in Energy Sector from Texas Cold Snap

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Senate approves Biden’s pick Granholm to head Energy Department

WASHINGTON (Reuters) – The U.S. Senate approved President Joe Biden’s nominee, former Michigan governor Jennifer Granholm, on Thursday to serve as secretary of the Department of Energy. The 100-member Senate backed Granholm by 64 to 35, more than the simple majority needed. Several Republicans from states that produce fossil fuels, including Kevin Cramer and John … Read more Senate approves Biden’s pick Granholm to head Energy Department

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U.S. crude output drops to 11.06 million bpd in December – EIA

Oil Storage

NEW YORK (Reuters) – U.S. crude oil output dropped 58,000 barrels per day to 11.063 million bpd in December, the U.S. Energy Information Administration said in a monthly report on Friday. The move came as onshore oil production fell in Texas and North Dakota, the top oil-producing states, outpacing a slight rise in offshore output … Read more U.S. crude output drops to 11.06 million bpd in December – EIA

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U.S. drillers add rigs for seventh month in a row, pace slows – Baker Hughes

(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a seventh month in a row, but the rate of growth slowed in February even as oil prices rose to their highest since 2019. The oil and gas rig count, an early indicator of future output, rose five to 402 in … Read more U.S. drillers add rigs for seventh month in a row, pace slows – Baker Hughes

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Biden Tours Houston After Deadly Cold Snap Hit Energy Capital

By Mario Parker Feb 26, 2021 (Bloomberg) President Joe Biden toured an emergency operations center in Houston as he visited the city in the aftermath of a deadly cold snap that paralyzed America’s energy capital. “It’s a hell of an operation you have here, probably the best one in the country,” Biden said at the Harris … Read more Biden Tours Houston After Deadly Cold Snap Hit Energy Capital

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Hyundai’s $900 Million Recall Shows How Costly EVs Can Be

By Kyunghee Park Feb 25, 2021 (Bloomberg) Hyundai Motor Co.’s recall of nearly 82,000 electric vehicles highlights how costly the shift to the industry’s new frontier can be for automakers, both to their balance sheets and their brands. The recall mostly affects Hyundai’s best-selling electric Kona crossover and stems from fire risks in battery cells produced … Read more Hyundai’s $900 Million Recall Shows How Costly EVs Can Be

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Oil Slumps With Wider Markets, Denting Record Start to 2021

Feb 26, 2021 (Bloomberg) –Oil’s record start to 2021 was under pressure from a firming dollar and a selloff in bond markets that spooked investors in risky assets. Brent in London fell at the end of a week that saw the steepest decline in the Nasdaq 100 since the pandemic meltdown. Yet the global benchmark … Read more Oil Slumps With Wider Markets, Denting Record Start to 2021

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Power Outages Main Cause of Oil, Gas Shut-Ins

Feb 26, 2021 (Bloomberg) Texas lawmakers’ attempt to understand why the state’s power system failed last week yielded plenty of blame but few clear answers on how to prevent a similar crisis in the future.In two marathon hearings, lawmakers grilled the state’s biggest power providers, its grid operator and regulators about the blackouts that left more … Read more Power Outages Main Cause of Oil, Gas Shut-Ins

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Mark Carney’s Net-Zero Claim Confounds Climate Experts

Feb 25, 2021 (Bloomberg) Mark Carney, a leading figure behind this year’s global climate talks, has sparked concern among green advocates with recent remarks claiming the half-trillion-dollar asset manager where he works zeroed out pollution across its portfolio. His comments call into question what it takes to attain net-zero status.Carney is a former Bank of England governor … Read more Mark Carney’s Net-Zero Claim Confounds Climate Experts

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Germany says there is exchange with U.S. on Nord Stream 2

By Reuters Staff BERLIN (Reuters) – There is an exchange between the U.S. government and Germany regarding the Nord Stream 2 pipeline to take Russian gas to Europe, a German government spokeswoman said on Friday without giving details. Germany and Russia say Nord Stream 2 is just a commercial project. Washington has long argued the … Read more Germany says there is exchange with U.S. on Nord Stream 2

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Dril-Quip, Inc. Announces Fourth Quarter and Full Year 2020 Results

February 25, 2021 | Source: Dril-Quip, Inc. HOUSTON, Feb. 25, 2021 (GLOBE NEWSWIRE) — Dril-Quip, Inc. (NYSE: DRQ), (the “Company” or “Dril-Quip”) today reported operational and financial results for the fourth quarter and full year 2020. Key highlights for the fourth quarter of 2020 included: Delivered fourth quarter revenue of $87.2 million and full year 2020 revenue … Read more Dril-Quip, Inc. Announces Fourth Quarter and Full Year 2020 Results

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Mammoth Energy Services, Inc. Announces Fourth Quarter and Full Year 2020 Operational and Financial Results

February 25, 2021 | Source: Mammoth Energy Services, Inc. OKLAHOMA CITY, Feb. 25, 2021 (GLOBE NEWSWIRE) — Mammoth Energy Services, Inc. (“Mammoth” or the “Company”) (NASDAQ: TUSK) today reported financial and operational results for the fourth quarter and full year ended December 31, 2020. Financial Highlights for the Fourth Quarter and Full Year 2020: Total revenue was $85.1 … Read more Mammoth Energy Services, Inc. Announces Fourth Quarter and Full Year 2020 Operational and Financial Results

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Gemini to sponsor International Woman’s Day Forum 2021

Gemini-Feature-Logo-400x270

Gemini Fabrication is excited to have the opportunity to participate as a Sponsor for International Women’s Day and the International Women’s Day Forum 2021 virtual event. We recognize the importance of a diverse and inclusive workplace and as a company we are committed to playing an active role in celebrating women’s achievements and increasing visibility. International … Read more Gemini to sponsor International Woman’s Day Forum 2021

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Barclays lifts 2021 oil price outlook on tighter U.S. supply view

(Reuters) – Barclays raised its 2021 oil price forecast on Thursday, citing weaker than expected supply response from U.S. producers to higher prices and normalizing inventories after last week’s cold storm in Texas. The bank increased its 2021 Brent crude oil price outlook by $7 to $62 per barrel and West Texas Intermediate (WTI) crude … Read more Barclays lifts 2021 oil price outlook on tighter U.S. supply view

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Global LNG demand expected to almost double by 2040

LNG Tanker

LONDON (Reuters) – Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook. Demand was 360 million tonnes last year, up slightly from 2019’s 358 million tonnes, despite volatility caused by lockdowns during the coronavirus pandemic. Global LNG … Read more Global LNG demand expected to almost double by 2040

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Interview with David Lod, CEO VEERUM – Geoffrey Cann

“Imagine being able to fly to site and see all the real-time data from your computer.” David Lod and Geoffrey Cann explored the future of the oil and gas industry in this morning’s livestream, sharing insights into the significant productivity and cost gains made possible by digital transformation. Didn’t have a chance to check out the Digital Oil … Read more Interview with David Lod, CEO VEERUM – Geoffrey Cann

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U.S. trade groups urge Biden to cap natural gas prices after Texas freeze last week

Natural Gas

By Reuters Staff (Reuters) – Trade groups representing U.S. public power and natural gas companies urged President Joe Biden to declare a gas emergency for last week’s extreme weather and authorize the secretary of energy to cap the price of gas. In a Feb. 19 letter to Biden, the American Public Power Association (APPA) and the … Read more U.S. trade groups urge Biden to cap natural gas prices after Texas freeze last week

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Shell Buys Virtual Power Plant Operator Next Kraftwerke

Shell Solar Panel

By Laura Hurst Feb 25, 2021 (Bloomberg) Royal Dutch Shell Plc agreed to buy Next Kraftwerke, the operator of a virtual power plant that brings together clean-energy capacity across Europe to sell the electricity into the market. Next Kraftwerke remotely connects and manages more than 10,000 off-grid units — including solar, hydropower and bioenergy facilities — across … Read more Shell Buys Virtual Power Plant Operator Next Kraftwerke

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Norway’s $1.3 Trillion Fund Blacklists 15 Companies on Ethical Grounds

Feb 25, 2021 (Bloomberg) Norway’s $1.3 trillion wealth fund expects to keep its existing fossil-fuel holdings as the world’s biggest sovereign investor bets it can bring about change from within the industry to fight carbon emissions.“We have no further plans to exit fossil fuels,” Chief Governance and Compliance Officer Carine Smith Ihenacho said on Thursday, after … Read more Norway’s $1.3 Trillion Fund Blacklists 15 Companies on Ethical Grounds

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EVs Are More Expensive Than Traditional Cars – But Not by Much

By Nathaniel Bullard Feb 25, 2021 (Bloomberg)Last week, I engaged in a thought experiment about the future of the American gas station once electric vehicles take over the road. My conclusion: the big highway rest stop is probably OK, as is the urban fuel oasis; it’s the suburban gas station that may be turning into something … Read more EVs Are More Expensive Than Traditional Cars – But Not by Much

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Exxon Casts Out Canadian Oil Sands in Massive Reserves Slump

By Kevin Crowley Feb 25, 2021 (Bloomberg) Exxon Mobil Corp. erased almost every drop of oil-sands crude from its books in a sweeping revision of worldwide reserves to depths never before seen in the company’s modern history. Exxon counted the equivalent of 15.2 billion barrels of reserves as of Dec. 31, down from 22.44 billion a … Read more Exxon Casts Out Canadian Oil Sands in Massive Reserves Slump

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Oil Fluctuates Near One-Year High With Global Supply Tightening

Oil Prices Up

By Alex Longley and Andres Guerra Luz Feb 25, 2021 (Bloomberg) Oil extended its rally to a new one-year high as the market weighed a tightening global supply outlook against indications prices may be overextended.Futures in New York rose almost 1% to the highest intraday since January 2020 after falling earlier on Thursday. The oil futures … Read more Oil Fluctuates Near One-Year High With Global Supply Tightening

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Denbury Reports 2020 Fourth Quarter and Full-Year Results, Announces 2021 Capital Budget and Production Guidance

PLANO, Texas, Feb. 25, 2021 (GLOBE NEWSWIRE) — Denbury Inc. (NYSE: DEN) (“Denbury” or the “Company”) today announced its fourth quarter and full-year 2020 financial and operating results, along with its 2021 capital budget and projected 2021 production. 2020 FOURTH QUARTER AND FULL-YEAR HIGHLIGHTS Adjusted EBITDAX(1) (a non-GAAP measure) of $77 million for 4Q 2020 and … Read more Denbury Reports 2020 Fourth Quarter and Full-Year Results, Announces 2021 Capital Budget and Production Guidance

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Hydrogen Insights: A Perspective on Hydrogen Investment, Market Development and Cost Competitiveness

New report shows significant volume of investment in hydrogen projects as well as policy and funding support as industry enters 2021 200+ large-scale projects have been announced across the value chain, with a total value exceeding $300 billion 30+ countries have national hydrogen strategies in place, and public funding is growing A new report released … Read more Hydrogen Insights: A Perspective on Hydrogen Investment, Market Development and Cost Competitiveness

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New GEI Thought Leadership | The green, electric future of oil and gas – KPMG

KPMG

The KPMG Global Energy Institute is pleased to announce the release of a new white paper, The green, electric future of oil and gas. Five avenues to allow the traditional oil and gas industry to play a more pivotal role in a net-zero world As oil and gas companies consider how best to weather the … Read more New GEI Thought Leadership | The green, electric future of oil and gas – KPMG

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Shale Driller Blames Biden for Its Move to Add a Permian Rig

Feb 24, 2021 (Bloomberg) Matador Resources Co. is doing what almost no other publicly traded oil producer has attempted to do this year: Boost spending and add another drilling rig.The Dallas-based shale explorer said it’s adding a fourth rig to the Permian Basin in response to the Biden administration’s decision to pause new oil and gas … Read more Shale Driller Blames Biden for Its Move to Add a Permian Rig

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Apache Corporation Announces Fourth-Quarter and Full-Year 2020 Financial and Operational Results

February 24, 2021| Source: Apache Corporation HOUSTON, Feb. 24, 2021 (GLOBE NEWSWIRE) — Apache Corporation (Nasdaq: APA) today announced fourth-quarter and full-year 2020 results on its website at www.apachecorp.com or investor.apachecorp.com as well as on Twitter (@ApacheCorp). There will be a conference call Feb. 25 at 10 a.m. Central time to discuss the results. It will be webcast and archived on … Read more Apache Corporation Announces Fourth-Quarter and Full-Year 2020 Financial and Operational Results

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Oil States Announces Executive Officer Departure

February 23, 2021 | Source: Oil States International, Inc. HOUSTON, Feb. 23, 2021 (GLOBE NEWSWIRE) — Oil States International, Inc. (NYSE: OIS) announced today that Chris Cragg, Executive Vice President, Operations will depart the Company effective March 1, 2021 to pursue other opportunities. The Company has no plans to replace Mr. Cragg. Rather, Cindy Taylor, President … Read more Oil States Announces Executive Officer Departure

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PDC Energy Announces 2020 Results, 2021 Guidance and Multi-Year Outlook Focused on Return of Capital Initiatives Including Board-Approved Dividend Program Expected to Commence Mid-2021

DENVER, Feb. 24, 2021 (GLOBE NEWSWIRE) — PDC Energy, Inc. (“PDC” or the “Company”) (Nasdaq:PDCE) today announced its 2020 fourth quarter and full-year operating and financial results. The Company also provided detailed 2021 guidance and a preliminary multi-year outlook. 2020 Fourth Quarter and Full-Year Highlights: Net cash from operating activities of approximately $220 million and … Read more PDC Energy Announces 2020 Results, 2021 Guidance and Multi-Year Outlook Focused on Return of Capital Initiatives Including Board-Approved Dividend Program Expected to Commence Mid-2021

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QEP Reports Fourth Quarter and Full Year 2020 Financial and Operating Results

February 24, 2021  Source: QEP Resources, Inc. DENVER, Feb. 24, 2021 (GLOBE NEWSWIRE) — QEP Resources, Inc. (NYSE: QEP) (QEP or the Company) today reported fourth quarter and full year 2020 financial and operating results. FULL YEAR 2020 HIGHLIGHTS Lowered 2020 average drilling and completion costs to $411 per lateral foot in the Permian Basin … Read more QEP Reports Fourth Quarter and Full Year 2020 Financial and Operating Results

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Canadian Pipeline Trans Mountain seeks to shield insurers from activist pressure

Reuters Feb 24, 2021 WINNIPEG — Trans Mountain Corp, a Canadian government corporation that operates an oil pipeline, has asked a regulator to keep the identities of its insurers private as environmental activists push them to drop coverage.Activists have stepped up pressure on banks and insurers to drop financing and insurance for fossil fuel companies, … Read more Canadian Pipeline Trans Mountain seeks to shield insurers from activist pressure

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Exxon to Sell Some North Sea Assets for More Than $1 Billion

Exxon Mobil

By Doug Alexander and Simon Casey Feb 24, 2021 (Bloomberg) Exxon Mobil Corp. agreed to sell some assets in the North Sea for more than $1 billion as the company focuses on newer and larger sources of oil and gas such as Guyana, Brazil and the U.S. Permian Basin. The company will sell most of its … Read more Exxon to Sell Some North Sea Assets for More Than $1 Billion

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Centennial Resource Development Announces Full Year 2020 Results and 2021 Guidance

February 23, 2021  | Source: Centennial Resource Development DENVER, Feb. 23, 2021 (GLOBE NEWSWIRE) — Centennial Resource Development, Inc. (“Centennial” or the “Company”) (NASDAQ: CDEV) today announced 2020 financial and operational results and 2021 operational plans and targets. Financial and Operational Highlights Generated free cash flow and reduced total debt for the second consecutive quarter Reported … Read more Centennial Resource Development Announces Full Year 2020 Results and 2021 Guidance

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Laredo Petroleum Announces “At-the-Market” Equity Program

February 23, 2021 | Source: Laredo Petroleum, Inc. TULSA, OK, Feb. 23, 2021 (GLOBE NEWSWIRE) — Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”) announced today that it has filed a prospectus supplement with the Securities and Exchange Commission (the “SEC”) under which it may offer and sell from time to time and at its … Read more Laredo Petroleum Announces “At-the-Market” Equity Program

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Range Announces Fourth Quarter 2020 Results

February 23, 2021 | Source: Range Resources Corporation FORT WORTH, Texas, Feb. 23, 2021 (GLOBE NEWSWIRE) — RANGE RESOURCES CORPORATION (NYSE: RRC) today announced its fourth quarter 2020 financial results, proved reserves and plans for 2021. Highlights – All-in 2020 capital spending was $411 million, approximately $109 million less than original budget Fourth quarter cash unit costs improved by … Read more Range Announces Fourth Quarter 2020 Results

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ChampionX Reports Fourth Quarter and Full Year 2020 Results

February 23, 2021 | Source: ChampionX Corporation Revenue of $706.1 million in Q4’20 Net income attributable to ChampionX of $7.4 million in Q4’20; adjusted net income of $14.3 million Adjusted EBITDA of $108.6 million in Q4’20 Cash from operating activities of $120.6 million and free cash flow of $107.6 million (15% of revenue) in Q4’20; free cash flow … Read more ChampionX Reports Fourth Quarter and Full Year 2020 Results

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Sunrun Expands Home Solar and Battery Offering in Texas

As Texas faces unprecedented, extreme weather events, Sunrun’s expansion will help more Texans harness solar energy and power critical needs during outages February 24, 2021 08:00 ET | Source: Sunrun Inc. Sunrun solar+battery customer keeps the lights on amid the unprecedented winter storm in Texas, February 15, 2021. SAN FRANCISCO and SAN ANTONIO, Feb. 24, 2021 (GLOBE … Read more Sunrun Expands Home Solar and Battery Offering in Texas

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Big Oil’s Biggest Banker Is Pledging to Change Its Ways

By Tim Quinson Feb 24, 2021 (Bloomberg) More than any other bank, JPMorgan Chase & Co. finds itself stuck at the center of a fossil-fuel quagmire. On one hand, the Wall Street giant is the leading financier to corporate polluters. On the other, JPMorgan is the top arranger of green bond sales, the proceeds of which are supposed to go to clean-energy … Read more Big Oil’s Biggest Banker Is Pledging to Change Its Ways

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Giant Oil Projects Fall Out of Favor: International Petroleum Week Update

Feb 24, 2021 (Bloomberg) Three of Europe’s largest oil companies spoke about fundamental shifts to their strategy amid the energy transition on the second day of International Petroleum Week.Equinor ASA’s boss Anders Opedal detailed efforts to reduce the carbon intensity of its oil and gas output, while his counterpart at BP Plc acknowledged investors aren’t yet convinced … Read more Giant Oil Projects Fall Out of Favor: International Petroleum Week Update

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Biden, Trudeau pledge to counter China, climate change, in warm first ‘meeting’

WASHINGTON/OTTAWA (Reuters) – U.S. President Joe Biden and Canadian Prime Minister Justin Trudeau sought on Tuesday to turn the page on the Trump era, stressing the countries’ deep ties and pledging to work together to counteract Chinese influence and address climate change. “The United States has no closer friend, no closer friend than Canada,” Biden … Read more Biden, Trudeau pledge to counter China, climate change, in warm first ‘meeting’

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Cheniere Energy posts smaller quarterly loss as LNG demand recovers

(Reuters) – Cheniere Energy Inc reported a smaller fourth-quarter loss on Wednesday compared with the third, as an uptick in economic activity fueled by COVID-19 vaccines lifted demand and prices for liquefied natural gas. Net loss attributable to shareholders narrowed to $194 million, or 77 cents per share, in the quarter ended Dec. 31, from … Read more Cheniere Energy posts smaller quarterly loss as LNG demand recovers

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Oil edges higher as surprise U.S. stock build weighs

LONDON (Reuters) – Oil prices edged higher on Wednesday amid continued outages in the United States and a weaker dollar, but a surprise build in U.S. inventories last week capped gains. Brent crude futures gained 52 cents, or 0.8%, to $65.89 a barrel at 1109 GMT, after hitting a session low of $64.80. U.S. West … Read more Oil edges higher as surprise U.S. stock build weighs

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Optimizing Information from Thickness Data – Becht

By Clay White and Frank Sapienza Thickness measurement data generated through the routine inspection program represents the largest source of data generated in the mechanical integrity department of a refinery. Gathering as much usable information from this data in a time efficient manner presents one of the greater challenges to plant inspectors and engineers.  Some … Read more Optimizing Information from Thickness Data – Becht

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Implementing modularization (offsite construction) methods on your heavy industrial projects will reduce capital costs of up to 25%.

DyCat Solutions Feature Logo 400x270

DyCat Solutions offers a series of online training workshops to teach you how to implement modularization on your project! Online Training Courses: The future execution strategy for heavy industrial projects is moving towards maximizing the implementation of modularization (offsite construction) on all projects. However, there is limited knowledge in the industry on what needs to … Read more Implementing modularization (offsite construction) methods on your heavy industrial projects will reduce capital costs of up to 25%.

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Osperity Revolutionizes Industrial Asset Inspections

Osperity Feature Logo 400x270

Automated Visual Inspections for Industrial operations Is an environmentally, cost-effective, more efficient, and intelligent way to inspect sites and assets on any online device. With Osperity’s Automated Inspections for Industrial Operations, you gain instant access (either online or via a PDF document sent through email) to a single location that includes images taken from selected … Read more Osperity Revolutionizes Industrial Asset Inspections

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Chief Inspection Service – Here’s what sets Q Test Inspection Ltd. Apart

Q Test Feature Logo 400x270

One of the programs we are most proud of at Q test is our Chief Inspection Service.  Previously, clients had to call out separate entities for all of their different service needs, entailing multiple trips from multiple people to the same location. This resulted in extra cost and time at the expense of the client.  … Read more Chief Inspection Service – Here’s what sets Q Test Inspection Ltd. Apart

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Keystone XL’s Death Sparks Rush to Ship Oil-Sands Crude by Rail

By Robert Tuttle Feb 23, 2021 (Bloomberg) U.S. President Joe Biden’s decision to cancel the Keystone XL pipeline is sparking renewed interest in shipping Canadian oil-sands crude by rail, and that comes with its own environmental risks.Cenovus Energy Inc. and Imperial Oil Ltd. have increasingly turned to trains to move their crude, with oil exports by … Read more Keystone XL’s Death Sparks Rush to Ship Oil-Sands Crude by Rail

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Bank of America hikes 2021 Brent price view by $10/bbl on strong oil balances

Offshore Oil

By Reuters Staff (Reuters) – Bank of America (BofA) Global Research lifted its forecast for Brent crude oil prices for this year citing tighter supplies due to the Texas freeze and OPEC+ output curbs and unmatched global monetary stimulus, it said in a note dated Monday. The bank now expects Brent crude oil to average … Read more Bank of America hikes 2021 Brent price view by $10/bbl on strong oil balances

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Top executives of Texas electric grid resign after storm failure

By Reuters Staff The board’s chairman, vice chairman, two directors and a board nominee of the Electric Reliability Council of Texas (ERCOT), all of whom live outside of Texas, resigned effective Wednesday, according to a notice to the state Public Utility Commission. The resignations were disclosed the same day ERCOT was hit with a proposed … Read more Top executives of Texas electric grid resign after storm failure

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Texans Will Pay for Decades as Crisis Tacks Billions Onto Bills

Feb 22, 2021 (Bloomberg) Now that the lights are back on in Texas, the state has to figure out who’s going to pay for the energy crisis that plunged millions into darkness last week. It will likely be ordinary Texans. The price tag so far: $50.6 billion, the cost of electricity sold from early Monday, when … Read more Texans Will Pay for Decades as Crisis Tacks Billions Onto Bills

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U.S. Bankruptcy Tracker: Texas Energy Crisis; Subchapter V Surge

Oil Refinery

By Jeremy Hill and Katherine Doherty Feb 23, 2021 (Bloomberg) The Texas power crisis is threatening to spark a new wave of distress in the Lone Star State, following a going concern warning from Just Energy Group Inc. “The Texas power loss will have a significant impact on businesses that haven’t been able to restore power and can … Read more U.S. Bankruptcy Tracker: Texas Energy Crisis; Subchapter V Surge

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Oil Dips in New York Though Banks Say Rally Can Extend in 2021

By Elizabeth Low and Alex Longley Feb 23, 2021 (Bloomberg) Oil retreated from an earlier rally with investment banks and traders predicting the market can go significantly higher in the months to come. Futures in New York pared much of an earlier increase to $63 a barrel as the dollar climbed and equities slipped. Bank of … Read more Oil Dips in New York Though Banks Say Rally Can Extend in 2021

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Senate weighs historic Interior nominee, Republicans to grill her on fossil fuels

WASHINGTON (Reuters) – Deb Haaland, U.S. President Joe Biden’s historic pick for interior secretary, will seek to reassure lawmakers that she will balance energy interests with climate change goals as the top administrator of America’s vast public lands on Tuesday. Haaland, a Democratic congresswoman from New Mexico, would be the first Native American to take … Read more Senate weighs historic Interior nominee, Republicans to grill her on fossil fuels

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Texas freeze raises concerns about ‘ridiculous’ variable rate bills

HOUSTON (Reuters) – In Spring, Texas, about 20 miles (32 km) north of Houston, Akilah Scott-Amos is staring down a more than $11,000 electric bill for this month, a far cry from her $34 bill at this time last year. “What am I going to do?” Scott-Amos, 43, said. She was among the millions of … Read more Texas freeze raises concerns about ‘ridiculous’ variable rate bills

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Biden, Trudeau aim to move past Keystone pipeline disagreement in first bilateral meeting

WASHINGTON/OTTAWA (Reuters) – U.S. President Joe Biden and Canadian Prime Minister Justin Trudeau will try on Tuesday to move past an early disagreement after Biden blocked the Canadian-backed Keystone XL pipeline and look to reset relations after the rocky years of Donald Trump. In his first bilateral meeting with a foreign leader since taking office … Read more Biden, Trudeau aim to move past Keystone pipeline disagreement in first bilateral meeting

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EnergyNow Virtual Conference: Digital Marketing & Sales Summit – March 10 &11, 2021: Details Here:

EnergyNow Marketing Summit - 400 x 270 px Website Thumbnail image

About Digital Marketing That DRIVES Action LEARN HOW TO LEVERAGE DIGITAL MARKETING & SALES AUTOMATION TO GROW YOUR ENERGY SERVICE BUSINESS The energy industry is going digital…fast…not only with new technologies but also with the way customers source information about your company and buy your products and services. In today’s digital world, referrals & word … Read more EnergyNow Virtual Conference: Digital Marketing & Sales Summit – March 10 &11, 2021: Details Here:

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Diamondback Energy, Inc. Announces Fourth Quarter and Full Year 2020 Financial and Operating Results; Increases Dividend

MIDLAND, Texas, Feb. 22, 2021 (GLOBE NEWSWIRE) — Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback” or the “Company”) today announced financial and operating results for the fourth quarter and full year ended December 31, 2020. FOURTH QUARTER 2020 HIGHLIGHTS Q4 2020 average production of 175.8 MBO/d (299.0 MBOE/d), with average daily oil production up 3% over Q3 … Read more Diamondback Energy, Inc. Announces Fourth Quarter and Full Year 2020 Financial and Operating Results; Increases Dividend

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Viper Energy Partners LP, A Subsidiary of Diamondback Energy, Inc., Reports Fourth Quarter and Full Year 2020 Financial and Operating Results

MIDLAND, Texas, Feb. 22, 2021 (GLOBE NEWSWIRE) — Viper Energy Partners LP (NASDAQ:VNOM) (“Viper” or the “Company”), a subsidiary of Diamondback Energy, Inc. (NASDAQ:FANG) (“Diamondback”), today announced financial and operating results for the fourth quarter and the full year ended December 31, 2020. FOURTH QUARTER HIGHLIGHTS Q4 2020 average production of 17,359 bo/d (27,699 boe/d), an … Read more Viper Energy Partners LP, A Subsidiary of Diamondback Energy, Inc., Reports Fourth Quarter and Full Year 2020 Financial and Operating Results

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Occidental Announces 4th Quarter and Full-Year 2020 Results

February 22, 2021  | Source: Occidental HOUSTON, Feb. 22, 2021 (GLOBE NEWSWIRE) — Occidental (NYSE: OXY) today announced its fourth quarter and full-year 2020 financial results. The announcement and financial schedules can be accessed via the Investor Relations section of the company’s website, oxy.com. The earnings release is also available on the U.S. Securities and Exchange Commission’s website at sec.gov. The company … Read more Occidental Announces 4th Quarter and Full-Year 2020 Results

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Laredo Petroleum Announces Fourth-Quarter and Full-Year 2020 Financial and Operating Results

Provides 2021 Capital Budget and Production Expectations February 22, 2021 | Source: Laredo Petroleum, Inc. TULSA, OK, Feb. 22, 2021 (GLOBE NEWSWIRE) — Laredo Petroleum, Inc. (NYSE: LPI) (“Laredo” or the “Company”) today announced its fourth-quarter and full-year 2020 financial and operating results. Full-Year 2020 Highlights Fully transitioned development operations to Howard County acreage and successfully completed … Read more Laredo Petroleum Announces Fourth-Quarter and Full-Year 2020 Financial and Operating Results

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CVR Energy Reports Fourth Quarter and Full-Year 2020 Results

February 22, 2021 | Source: CVR Energy, Inc. Reported fourth quarter and full-year 2020 net loss of $67 million and $256 million, respectively, negatively impacted by the COVID-19 pandemic and flawed Renewable Fuel Standard program. Reacted quickly to COVID-19 pandemic: Operated safely and reliably; Exceeded targeted $50 million annual reduction in operating and SG&A expenses; Safely … Read more CVR Energy Reports Fourth Quarter and Full-Year 2020 Results

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Goldman Sees Brent Oil at $75 as Supply Response Trails Demand

Feb 21, 2021 (Bloomberg) Oil prices will rally sooner and higher than previously thought as the global energy demand recovery outpaces the supply response from the OPEC+ alliance, shale and Iran, according to Goldman Sachs Group Inc.Consumption will get back to pre-virus levels by late July, while output from major producers is likely to remain “highly … Read more Goldman Sees Brent Oil at $75 as Supply Response Trails Demand

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Creating the Digital Front Line Oil Worker – Geoffrey Cann

By Geoffrey Cann Digital innovations are slowly unleashing the digital front line oil worker, but are the workers ready to deal with the change? The Digital Front Line Oil Worker Two recent interactions with managers in front line work in oil and gas prompted this week’s article. In the first instance, a corporate group asked … Read more Creating the Digital Front Line Oil Worker – Geoffrey Cann

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Trafigura Sees ‘Strong’ Oil Market Heading Into Summer

Crude Oil Shipments In The Persian Gulf

Feb 22, 2021 (Bloomberg) Trafigura Group sees oil markets firming in the coming months as most of the world emerges from lockdowns and production losses from the recent U.S. deep freeze add to a tighter supply outlook.“We have a strong market going into summer,” Ben Luckock, co-head of oil trading at the commodities trading giant, said … Read more Trafigura Sees ‘Strong’ Oil Market Heading Into Summer

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U.S. energy regulator says will examine climate change’s threat to power reliability

WASHINGTON (Reuters) – U.S. federal energy regulators said on Monday they will examine threats that climate change and extreme weather events pose to the country’s electric reliability in the wake of last week’s deadly Texas freeze that left millions of people without power. “The effects of climate change are already apparent,” Federal Energy Regulatory Commission … Read more U.S. energy regulator says will examine climate change’s threat to power reliability

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Archrock Reports Fourth Quarter and Full Year 2020 Results and Provides 2021 Guidance

HOUSTON, Feb. 22, 2021 (GLOBE NEWSWIRE) — Archrock, Inc. (NYSE: AROC) (“Archrock”) today reported results for the fourth quarter and full year 2020 and provided 2021 financial guidance. Fourth Quarter and Full Year 2020 Results Revenue for the fourth quarter of 2020 was $199.3 million compared to $246.0 million in the fourth quarter of 2019. … Read more Archrock Reports Fourth Quarter and Full Year 2020 Results and Provides 2021 Guidance

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Deep freeze, power crisis in Texas sparks fresh climate-change falsehoods

WASHINGTON — The catastrophic cold snap that paralyzed the electrical grid in Texas has opened up a new front in the age-old battle between green-energy champions and their fossil-fuel rivals. One side sees the chance to build a new, fortified and more sustainable power grid. The other calls it proof positive that it’s too soon … Read more Deep freeze, power crisis in Texas sparks fresh climate-change falsehoods

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Norway’s $1.3 Trillion Fund May Be Facing a Major ESG Handicap

By Lars Erik Taraldsen  Feb 22, 2021 (Bloomberg) Norway’s $1.3 trillion wealth fund, the world’s biggest, is handicapped in chasing its environmental, social and governance investment goals by the political process, according to Global SWF. The lengthy decision-making that determines which asset classes Norway’s investing behemoth can buy puts it at a disadvantage compared with smaller … Read more Norway’s $1.3 Trillion Fund May Be Facing a Major ESG Handicap

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After Texas Crisis, Biden’s Climate Plan Hangs on Fragile Power Grid

Feb 22, 2021 (Bloomberg)  The millions of people who struggled to keep warm in Texas, with blackouts crippling life inside a dominant energy hub, have laid bare the desperate state of U.S. electricity grids. To fix nationwide vulnerabilities, President Joe Biden will have to completely reimagine the American way of producing and transmitting electricity. Biden wants to overhaul the nation’s grids so they derive … Read more After Texas Crisis, Biden’s Climate Plan Hangs on Fragile Power Grid

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OPEC, U.S. oil firms expect subdued shale rebound even as crude prices rise

LONDON/HOUSTON (Reuters) – OPEC and U.S. oil companies see a limited rebound in shale oil supply this year as top U.S. producers freeze output despite rising prices, a decision that would help OPEC and its allies. OPEC this month cut its 2021 forecast for U.S. tight crude, another term for shale, and expects production to … Read more OPEC, U.S. oil firms expect subdued shale rebound even as crude prices rise

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Oil prices rise with storm-hit U.S. output set for slow return

LONDON (Reuters) – Oil prices rose on Monday as the slow return of U.S. crude output cut by frigid conditions served as a reminder of the tight supply situation, just as demand recovers from the depths of the COVID-19 pandemic. Brent crude was up 51 cents, or 0.8%, at $63.42 a barrel by 0945 GMT, … Read more Oil prices rise with storm-hit U.S. output set for slow return

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Flare Meter Retrofit Solution: Keep it simple – keep your system structure – no welding required

Westech-Feature-Logo-400x270-1

Flare stacks can be found on almost any oil and gas installation as part of the waste gas system, and as a controlled vent for high volumes of combustible gases during an upset. By its nature, the pressure, volume flow and gas composition in a flare stack can differ significantly over short periods of time. … Read more Flare Meter Retrofit Solution: Keep it simple – keep your system structure – no welding required

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TRIAGE: Pipeline Integrity Hazard Classification & Mitigation Guidance Risk-Optimizes Oil & Gas Maintenance Costs

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TRIAGE Addresses the Root-Cause of Pipeline Failures TRIAGE – integrity hazard classification and risk-optimized mitigation guidance is an innovative data service proven successful at addressing the root cause of pipeline failures by; 1) improving the characterization of the over-life corrosive environment to which pipelines are exposed; and 2) by aligning mitigation activities to the corrosive environment … Read more TRIAGE: Pipeline Integrity Hazard Classification & Mitigation Guidance Risk-Optimizes Oil & Gas Maintenance Costs

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WATCH: We are Sky Eye Measurement – Energy Transfer Solutions Company

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Sky Eye Measurement is an “energy transfer solutions company” with manufacturing located in Alberta’s Oil and Gas heartland and over fifteen years of experience serving the energy industry. Today, we work with some of the largest producers in the world throughout North America. We manufacture and service a wide variety of energy transfer systems from … Read more WATCH: We are Sky Eye Measurement – Energy Transfer Solutions Company

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Gemini Interview Series | EPISODE 01

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Gemini Fabrication has released the first episode in our mini-interview series. Come with us as we take you on a journey to meet some of the leaders and industry experts who help make Gemini Fabrication the #1 Fabricator in Western Canada. Find out from the inside why Gemini has continually set the bar for project delivery, … Read more Gemini Interview Series | EPISODE 01

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CO2 Misinformation – by Mark Kuppe, Acero Engineering Inc.

Acero-Feature-Logo-400x270-1

I recently wrote an article about why I love natural gas and what it (along with coal and oil) has done for the Canadian standard of living.  Apparently however, I missed the memo about the urgent need to switch to wind, solar and other so-called “green” technologies because mankind is in imminent danger of self-destruction … Read more CO2 Misinformation – by Mark Kuppe, Acero Engineering Inc.

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Remote Emission Reduction Management – Clear Rush Co.

Clear Rush Co Feature Logo 400x270

The oil and gas sector is currently facing the most challenging business environment in recent years. With the increasing adoption of more stringent environmental regulations across Canada and the United States, operators are moving forward with the installation of technologies that serve a vital purpose: emission reduction. Operators rely on this emissions reduction equipment to … Read more Remote Emission Reduction Management – Clear Rush Co.

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Scovan Engineering announces keynote speakers for 3rd annual International Women’s Day Forum on March 8.

Scovan-Engineering-Logo-Feature

Scovan to host 3rd annual International Women’s Day Forum live stream event. International Women’s Day celebrates the economic, cultural, and political achievements of women across the globe. The day focuses on unity, equality and advocacy. In celebration of International Women’s Day, Scovan is bringing together female industry leaders to participate in a virtual event to highlight … Read more Scovan Engineering announces keynote speakers for 3rd annual International Women’s Day Forum on March 8.

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Texas utilities can’t stick customers with huge bills after storm: Abbott

(Reuters) – Texas utility regulators will temporarily ban power companies from billing customers or disconnecting them for non-payment, after the deadly winter storm that caused widespread blackouts, Governor Greg Abbott said on Sunday. Abbott called an emergency meeting with state lawmakers on Saturday after reports of many customers receiving bills for thousands of dollars for … Read more Texas utilities can’t stick customers with huge bills after storm: Abbott

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U.S. drillers cut oil rigs for first week in 13 amid deep freeze – Baker Hughes

By Reuters Staff (Reuters) – U.S. energy firms this week cut the number of oil rigs operating for the first time since November as blistering cold and snow hit most of Texas, New Mexico and other big energy producing areas. The U.S. oil and gas rig count, an early indicator of future output, was unchanged … Read more U.S. drillers cut oil rigs for first week in 13 amid deep freeze – Baker Hughes

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Saudis, Russia Differ Again on Oil Strategy Before OPEC+ Meeting

Saudi-Deputy-Crown-Prince-Mohammed-bin-Salman_Vladimir-Putin-Russia

Feb 20, 2021 (Bloomberg) Saudi Arabia and Russia are once again heading into an OPEC+ meeting on opposite sides of a crucial debate about the oil market.Riyadh is publicly urging fellow members to be “extremely cautious,” despite prices rebounding to a one-year high. In private, the kingdom has signaled it would prefer that the group broadly … Read more Saudis, Russia Differ Again on Oil Strategy Before OPEC+ Meeting

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The Two Hours That Nearly Destroyed Texas’s Electric Grid

Feb 21, 2021 (Bloomberg)  The control room of the Texas electric grid is dominated by a Cineplex-sized screen along one wall. As outdoor temperatures plunged to arctic levels around the low-slung building 30 miles from Austin last Sunday night, all eyes were on it. The news wasn’t good. Electric demand for heat across the state … Read more The Two Hours That Nearly Destroyed Texas’s Electric Grid

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Restarting Texas’s Frozen Energy Heartland Will Be a Climate Mess

Feb 21, 2021 (Bloomberg) Like a cold-blooded animal—a lizard or a snake—the petrochemical hub that is the state of Texas went dormant during the deep freeze. Eventually, it’ll wake up again, and when it does the damage will be worse than if it never went to sleep.Filings submitted in recent days to the Texas Commission on … Read more Restarting Texas’s Frozen Energy Heartland Will Be a Climate Mess

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Arctic drilling plan in Alaska hits roadblock

ANCHORAGE, Alaska (Reuters) – Plans for seismic surveys to help find oil in the Arctic National Wildlife Refuge have fizzled due to a lack of protection for polar bears, according to a brief statement Saturday from the Department of the Interior. The Kaktovik Inupiat Corp (KIC), the Native-owned company that applied for permission to conduct … Read more Arctic drilling plan in Alaska hits roadblock

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Texas Homes Slammed by Thousand-Dollar Power Bills After Storm

 Feb 21, 2021 (Bloomberg) After enduring a wretched week of Arctic storms, hunger and cold, several Texans lucky enough to have power were handed another pain point — massive electricity bills.Houston resident David Astrein, 36, a human resources director at a manufacturing company, said he’s been charged $2,738.66 for 20 days this month versus $129.85 for … Read more Texas Homes Slammed by Thousand-Dollar Power Bills After Storm

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Column: Oil market rebalancing largely complete, except for jet fuel

Oil Storage

By John Kemp LONDON (Reuters) – U.S. petroleum consumption and inventories have returned to normal after the pandemic and volume war last year, with the significant exception of jet fuel, where demand remains suppressed by travel restrictions. Market rebalancing has been completed earlier than seemed likely a few months ago, as a result of a strong … Read more Column: Oil market rebalancing largely complete, except for jet fuel

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Biden Says He Hopes to Visit Texas After Winter Storm

Feb 19, 2021 (Bloomberg) —President Joe Biden said he’ll declare a major disaster in Texas and wants to visit the state soon as it recovers from widespread power outages and water shortages following an unusual winter storm. “If in fact it’s concluded that I can go without creating a burden for the folks on the … Read more Biden Says He Hopes to Visit Texas After Winter Storm

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A Tale of Two Carbon Prices to Shape Biden’s Climate Policy

By Gernot Wagner Feb 19, 2021 (Bloomberg) Imagine a $50 price per ton of carbon dioxide this year. Exxon Mobil Corp. has. The oil giant has joined BP Plc, Royal Dutch Shell Plc and others in support of just such a price. It would rise at an annual rate of 5%, plus inflation. In exchange, these companies expect that “all … Read more A Tale of Two Carbon Prices to Shape Biden’s Climate Policy

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As power returns, Texas energy firms slowly emerge from deep freeze

HOUSTON (Reuters) – Texas energy firms on Friday began to prepare for oil and gas production after days of frozen shutdowns as electric power and water service slowly resumed at darkened oilfields and refineries. It will take several days for oilfield crews to deice valves, restart systems and begin oil and gas production. U.S. Gulf … Read more As power returns, Texas energy firms slowly emerge from deep freeze

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U.S. to unveil Nord Stream 2 pipeline report, but sanctions may take time: sources

WASHINGTON (Reuters) – The Biden administration is expected to name as early as Friday the companies it believes are helping build Russia’s Nord Stream 2 pipeline, five sources said, a move that could eventually prompt sanctions on the nearly completed project. The State Department report to Congress, which may come on Friday, is expected to … Read more U.S. to unveil Nord Stream 2 pipeline report, but sanctions may take time: sources

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Texas Oil Patch Starts to Resume Operations After Cold Snap

By Sheela Tobben and Javier Blas Feb 19, 2021 (Bloomberg) The Texas oil patch is slowly restarting wells after the deep freeze that swept through the region shut a record amount of U.S. crude output.Marathon Oil Corp., Devon Energy Corp. and Verdun Oil Co LLC have begun using restored power from local grids or generators … Read more Texas Oil Patch Starts to Resume Operations After Cold Snap

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Oil Giving Up Big-Freeze Gains With Wells Slowly Restarting

By Sharon Cho and Alex Longley Feb 19, 2021 (Bloomberg) Oil fell for a second day as production slowly restarted in Texas and the White House said it would be willing to meet with Iran, potentially paving the way for more crude exports from the Persian Gulf nation.Futures in New York dropped toward $59 a barrel. Companies are … Read more Oil Giving Up Big-Freeze Gains With Wells Slowly Restarting

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Brookfield Bid Spurs Calgary’s Inter Pipeline to Look for White Knight

By Derek Decloet  Feb 18, 2021 (Bloomberg) Canada’s Inter Pipeline Ltd. said it will start a review of options including a potential sale after it received a hostile takeover bid from Brookfield Infrastructure Partners LP. The pipeline operator said it’s hired TD Securities for advice and will strike a special committee of the board, led by … Read more Brookfield Bid Spurs Calgary’s Inter Pipeline to Look for White Knight

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Shell Unloads Alberta Shale Assets in Latest Canada Energy Deal

By Robert Tuttle Feb 17, 2021 (Bloomberg) Crescent Point Energy Corp. agreed to buy some of Royal Dutch Shell Plc’s Western Canadian shale operations for about C$900 million ($707 million) in the latest example of consolidation in the Canadian oil and gas sector. Calgary-based Crescent Point, an oil driller with a focus on Saskatchewan, will acquire … Read more Shell Unloads Alberta Shale Assets in Latest Canada Energy Deal

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Iran Snubs Biden in Seeking End to Sanctions Before Talks

By Golnar Motevalli, Yasna Haghdoost and Patrick Sykes Feb 19, 2021 (Bloomberg) Iran said the U.S. must first return to the 2015 nuclear deal and lift sanctions if it wants talks with the Islamic Republic, appearing to snub an effort by the Biden administration to begin direct discussions before officially rejoining the accord. Supreme Leader Ayatollah … Read more Iran Snubs Biden in Seeking End to Sanctions Before Talks

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Targa Resources Corp. Reports Fourth Quarter and Full Year 2020 Financial Results and Provides 2021 Operational and Financial Outlook

Targa Resources

HOUSTON, Feb. 18, 2021 (GLOBE NEWSWIRE) — Targa Resources Corp. (NYSE: TRGP) (“TRC”, the “Company” or “Targa”) today reported fourth quarter and full year 2020 results. Fourth Quarter and Full Year 2020 Financial Results Fourth quarter 2020 net income (loss) attributable to Targa Resources Corp. was $33.6 million compared to ($112.8) million for the fourth quarter … Read more Targa Resources Corp. Reports Fourth Quarter and Full Year 2020 Financial Results and Provides 2021 Operational and Financial Outlook

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U.S. Oil Production Slumps by Record 40% as Permian Freezes

Feb 17, 2021 (Bloomberg) Total U.S. oil production has plunged by close to 40% — the most ever — as an unprecedented cold blast freezes well operations across the central U.S., according to traders and industry executives with direct knowledge of the operations.Crude output has now fallen by more than 4 million barrels a day nationwide, … Read more U.S. Oil Production Slumps by Record 40% as Permian Freezes

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Oil Briefly Tops $65 in London Amid Shockwaves From U.S. Freeze

Feb 18, 2021 (Bloomberg) Brent crude briefly surpassed $65 a barrel for the first time in a year as a cold blast that’s pummeled U.S. oil production escalated into a global supply shock.More than 4 million barrels a day of U.S. output — about 40% of crude production — is now offline, according to traders and … Read more Oil Briefly Tops $65 in London Amid Shockwaves From U.S. Freeze

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Mexico presses U.S. to guarantee natural gas supplies after Texas export ban

Natural Gas

MEXICO CITY (Reuters) – The Mexican government called the top U.S. representative in Mexico on Wednesday to press for natural gas supplies after the Texas governor ordered fuel to remain in the state during a freeze that has overwhelmed its energy grid. Already, earlier this week, natural gas supplies to Mexico from Texas were interrupted … Read more Mexico presses U.S. to guarantee natural gas supplies after Texas export ban

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Texas energy freeze stretches to sixth day, raises Mexico’s ire

HOUSTON (Reuters) – Texas’s freeze entered a sixth day on Thursday, as the largest energy-producing state in the United States grappled with massive refining outages and oil and gas shutins that rippled beyond its borders into neighboring Mexico. The cold snap, which has killed at least 21 people and knocked out power to more than … Read more Texas energy freeze stretches to sixth day, raises Mexico’s ire

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U.S. lawmakers ask Blinken for briefing on Nord Stream 2 natgas pipeline

WASHINGTON (Reuters) – Several U.S. Representatives on Wednesday raised pressure on the State Department to share plans on potential sanctions on the Nord Stream 2 natural gas pipeline Russia is racing to finish to take fuel to Europe. “If completed, Nord Stream 2 would enable the Putin regime to further weaponize Russia’s energy resources to … Read more U.S. lawmakers ask Blinken for briefing on Nord Stream 2 natgas pipeline

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Big Oil Invests in Startup That Drills for Clean Energy

(Bloomberg) —Companies including the venture arms of BP Plc and Chevron Corp. invested $40 million in a startup that aims to use the fossil fuel industry’s drilling experience to expand a technology that harvests low-carbon energy from heat below the earth’s surface.Eavor Technologies Inc. plans to expand geothermal power beyond places like Iceland that have … Read more Big Oil Invests in Startup That Drills for Clean Energy

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Oil States Announces Fourth Quarter 2020 Results of Operations

February 17, 2021 17:10 ET | Source: Oil States International, Inc. HOUSTON, Feb. 17, 2021 (GLOBE NEWSWIRE) — Oil States International, Inc. (NYSE: OIS) reported a net loss for the fourth quarter of 2020 of $18.7 million, or $0.31 per share, which included non-cash asset impairment charges of $4.3 million ($3.4 million after-tax, or $0.06 per share) and severance and restructuring charges … Read more Oil States Announces Fourth Quarter 2020 Results of Operations

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Bonanza Creek Energy Announces Fourth Quarter and Full-Year 2020 Results

February 17, 2021 | Source: Bonanza Creek Energy, Inc. DENVER, Feb. 17, 2021 (GLOBE NEWSWIRE) — Bonanza Creek Energy, Inc. (NYSE: BCEI) (the “Company” or “Bonanza Creek”) today announced its fourth quarter and full-year 2020 financial results, and has posted an updated investor presentation to its website. Highlights for the fourth quarter and full-year 2020 include: Average … Read more Bonanza Creek Energy Announces Fourth Quarter and Full-Year 2020 Results

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Ovintiv Reports Fourth Quarter and Full-Year 2020 Results, Announces Multi-Year Debt Reduction Target, Signs Agreement to Sell Duvernay and Provides Strong 2021 Outlook

Year-end 2020 debt reduced nearly $500 million from mid-year 2020 2021 debt reduction target increased 25% to $1.25 billion including second half 2020 Multi-year debt target issued: $4.5 billion of total debt by year-end 2022 Company signs agreement to sell its Duvernay asset for $263 million Company generated significant non-GAAP Free Cash Flow for third consecutive year Strong well performance and realized prices combined … Read more Ovintiv Reports Fourth Quarter and Full-Year 2020 Results, Announces Multi-Year Debt Reduction Target, Signs Agreement to Sell Duvernay and Provides Strong 2021 Outlook

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Europe pulls ahead in race for hydrogen, as global project pipeline grows

BRUSSELS (Reuters) – Most of the world’s planned hydrogen projects and the biggest chunk of related investments this decade are expected to be in Europe, an industry report said on Wednesday, as the continent races to scale up the low-carbon fuel to meet climate goals. The European Union has made hydrogen a key plank in … Read more Europe pulls ahead in race for hydrogen, as global project pipeline grows

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Sweden Shows Texas How to Keep Turbines Going in Icy Weather

Feb 16, 2021 (Bloomberg) With the right gear, wind turbines can keep on generating through the harshest winter weather. That’s the experience by researchers at an Arctic test site in Sweden, and their knowledge would have come handy thousands of miles away as ice and snow storms in Texas downed generators and triggered widespread blackouts. As much as half … Read more Sweden Shows Texas How to Keep Turbines Going in Icy Weather

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Saudi Oil Minister Urges Producer Caution Before OPEC+ Meeting

Feb 17, 2021 (Bloomberg) Saudi Arabia urged fellow members of the OPEC+ oil alliance to remain cautious as they prepare to consider further output increases. Crude prices have rebounded to a one-year high above $60 a barrel in New York as fuel demand recovers and the 23-nation OPEC+ coalition constricts supply. Still, the ongoing pandemic poses … Read more Saudi Oil Minister Urges Producer Caution Before OPEC+ Meeting

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Oil Erases Gains Amid Reports of Saudi Production Increase

By Andres Guerra Luz and Grant Smith  Feb 17, 2021 (Bloomberg) Oil dipped amid reports that Saudi Arabia will reverse unprecedented production cuts as prices recover.Futures erased gains in New York on Wednesday after Dow Jones reported that Saudi Arabia plans to boost oil output in the coming months, citing unnamed advisers to the kingdom. While … Read more Oil Erases Gains Amid Reports of Saudi Production Increase

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In Texas’s Black-Swan Blackout, Everything Went Wrong at Once

By Rachel Adams-Heard, Naureen S. Malik and Brian Eckhouse Feb 17, 2021 (Bloomberg) The finger-pointing began immediately: It was the frozen wind turbines that foolishly replaced traditional sources. No, fossil fuels were at fault. No, Texas’s deregulated power market, unique in the country, had allowed companies to skimp on maintenance and upgrades. As the hours ticked … Read more In Texas’s Black-Swan Blackout, Everything Went Wrong at Once

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OPEC chief optimistic about 2021 recovery but uncertainty remains

OPEC Secretary-General Mohammad Barkindo addresses a news conference in Vienna, Austria, November 7, 2017. REUTERS/Heinz-Peter Bader

LONDON (Reuters) – OPEC’s secretary general said on Wednesday there were grounds for optimism that 2021 would be a year of recovery after the slump in oil prices and demand caused by the pandemic. “While there are grounds for optimism that 2021 will be the year of recovery … there are many other uncertainties that … Read more OPEC chief optimistic about 2021 recovery but uncertainty remains

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Texas’s one-of-a-kind power system raises questions during price spike

NEW YORK (Reuters) – A brutal winter storm that has left millions without power along the U.S. Gulf Coast and caused power prices to surge has highlighted the differences between Texas’s independent power grid and the rest of the United States. HOW DOES TEXAS PROVIDE ELECTRICITY? Texas produces and consumes more electricity than any other … Read more Texas’s one-of-a-kind power system raises questions during price spike

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U.S. shale could face weeks of depressed oil production due to cold

HOUSTON (Reuters) – The U.S. deep freeze will wreak havoc on oil and gas production for several days if not weeks, according to industry experts, as companies deal with frozen equipment and a lack of power to run operations. Texas produces more oil and natural gas than any other U.S. state, and its operators, unlike … Read more U.S. shale could face weeks of depressed oil production due to cold

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COMSTOCK RESOURCES, INC. REPORTS FOURTH QUARTER 2020 FINANCIAL AND OPERATING RESULTS

February 16, 2021| Source: Comstock Resources, Inc. FRISCO, TX, Feb. 16, 2021 (GLOBE NEWSWIRE) — A release was previously issued with the same headline by Comstock Resources, Inc.  Please note that we have corrected the unit of reported gas production for both the three months ended December 31, 2020 and the year ended December 31, 2020 … Read more COMSTOCK RESOURCES, INC. REPORTS FOURTH QUARTER 2020 FINANCIAL AND OPERATING RESULTS

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Mammoth Energy Announces Growth of Engineering Services Company

February 17, 2021 06:00 ET | Source: Mammoth Energy Services, Inc. OKLAHOMA CITY, Feb. 17, 2021 (GLOBE NEWSWIRE) — Mammoth Energy Services, Inc. (“Mammoth” or the “Company”) (NASDAQ:TUSK) today announced that its wholly owned subsidiary, Aquawolf, LLC (“Aquawolf”), has been awarded a contract by a major utility to provide engineering and design services. The three-year contract is … Read more Mammoth Energy Announces Growth of Engineering Services Company

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Spartan Delta buys Inception Exploration and oil and gas assets for $148 million

Calgary producer Spartan Delta Corp. says it has agreed to buy private rival Inception Exploration Ltd. and two packages of oil and gas assets in northwestern Alberta for a total of $148 million in cash and shares.The company, founded last spring thro…

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Becht Announces Acquisition of Netherlands Based EPS Customer Solutions to Grow Europe, Middle East, and Africa support in Refining, Petrochemical, and Renewables Industries

Becht Europe B.V. and EPS Customer Solutions B.V. have come together to better serve Refining, Petrochemical, and Renewable customers in the European, Middle Eastern, and African regions. Becht has built a strong reputation for providing engineering solutions, plant services, software tools, and learning and development resources to over 95% of the refineries in the US … Read more Becht Announces Acquisition of Netherlands Based EPS Customer Solutions to Grow Europe, Middle East, and Africa support in Refining, Petrochemical, and Renewables Industries

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Devon Energy Reports Fourth-Quarter and Full-Year 2020 Financial and Operational Results

February 16, 2021 | Source: Devon Energy Corporation OKLAHOMA CITY, Feb. 16, 2021 (GLOBE NEWSWIRE) — Devon Energy Corp. (NYSE: DVN) today reported financial and operational results for the fourth quarter and full year of 2020. The company’s earnings release, supplemental financial tables, updated guidance and related earnings presentation can be accessed via the Investor Relations section of Devon’s … Read more Devon Energy Reports Fourth-Quarter and Full-Year 2020 Financial and Operational Results

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US Natural Gas Soars Over 10% as Deep Freeze Strains Output

Natural Gas

The deep freeze hit Texas’ energy industry, shutting refineries and forcing restrictions on natural gas pipeline operators, while leaving over 4 million people without power. U.S. natural gas futures jumped more than 10% on Feb. 16 to an over three-month high as a frigid blast across the United States disrupted pipeline flows and pushed up heating … Read more US Natural Gas Soars Over 10% as Deep Freeze Strains Output

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Oil price rally points to more OPEC+ easing from April: sources

LONDON/DUBAI/MOSCOW (Reuters) – OPEC+ oil producers are likely to ease curbs on supply after April given a recovery in prices, OPEC+ sources said, although any increase in output will be modest as producers are wary of fresh setbacks in the battle against the pandemic. The Organization of the Petroleum Exporting Countries and allies, known as … Read more Oil price rally points to more OPEC+ easing from April: sources

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Deep freeze shuts Houston ship channel as energy closures mount

(Reuters) – A deep freeze continued to wreak havoc on the U.S. energy sector, bringing operations to a halt at the Houston Ship channel, while several of the biggest oil refineries remained offline in the nation’s largest crude-producing state. Overall, around 5.3 million customers were without power in most states including Texas and New York, … Read more Deep freeze shuts Houston ship channel as energy closures mount

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Resurgent Canadian natgas producers look to horn in on U.S. market

CALGARY, Alberta (Reuters) – Canadian natural gas producers are bouncing back faster from the COVID-19 pandemic than battered U.S. shale firms, putting them in position to boost net gas exports to the United States for the first time in five years. The opportunity for Canadian firms to take a piece of the market back from … Read more Resurgent Canadian natgas producers look to horn in on U.S. market

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U.S. oil wells, refineries shut as winter storm hits energy sector

(Reuters) – A deep freeze across the United States is taking a toll on the energy industry in the largest U.S. crude-producing state, halting Texas oil wells and refineries on Monday and forcing restrictions from natural gas and crude pipeline operators. The rare deep freeze prompted the state’s electric power suppliers to impose rotating blackouts, … Read more U.S. oil wells, refineries shut as winter storm hits energy sector

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Frozen Wind Farms Are Just a Small Piece of Texas’s Power Woes

Feb 16, 2021 (Bloomberg) Don’t point too many fingers at Texas wind turbines, because they’re not the main reason broad swaths of the state have been plunged into darkness.While ice has forced some turbines to shut down just as a brutal cold wave drives record electricity demand, wind only comprises 25% of the state’s energy mix this time … Read more Frozen Wind Farms Are Just a Small Piece of Texas’s Power Woes

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Oil Holds Near $60 in New York as Power Crisis Hits U.S. Supply

Feb 16, 2021 (Bloomberg) Oil held gains in New York after rising above $60 a barrel for the first time in a year as a deepening energy crisis in the U.S. disrupted crude production and forced the shutdown of some of the nation’s biggest refineries.As much as 1.7 million barrels a day of oil output has halted, legal … Read more Oil Holds Near $60 in New York as Power Crisis Hits U.S. Supply

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U.S. drillers add oil and gas rigs for 12th week in a row – Baker Hughes

U.S. drillers this week added oil and natural gas rigs for a 12th week in a row, the longest streak of additions since June 2017, as crude prices hit their highest in more than a year. The oil and gas rig count, an early indicator of future output, rose five to 397 in the week … Read more U.S. drillers add oil and gas rigs for 12th week in a row – Baker Hughes

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Odyssey – Affordable software developed by Sigma that can organize, map and inventory your seismic database

sigma-exploration-feature-logo-400x270

Features: Search lines from location on a map or by query function Categorized Shooting (Parameter) information and ownership Link Data storage locations, AFE and other documents by line or by survey Add or delete lines as required Reporting and mapping functions to help with asset and divestiture activity Sort data by ownership type Individual client … Read more Odyssey – Affordable software developed by Sigma that can organize, map and inventory your seismic database

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Real-time crude and desalter monitoring – Westech

Westech-Feature-Logo-400x270-1

An analyser array supports corrosion management through continuous insights into changes in crude quality By ALBERT MOURIS and ETIENNE HUNT Hobré Instruments KEVIN CLARKE CREAS Energy Consulting To maximise profits and remain competitive, refineries regularly reoptimize their crude slate with changing market conditions. As a result, crudes change frequently, and the plant is driven towards … Read more Real-time crude and desalter monitoring – Westech

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Enbridge raises Line 3 replacement cost estimate by $1.1 billion

(Reuters) – Enbridge Inc on Friday forecast higher costs for its long-contested Line 3 pipeline replacement project, citing regulatory and permitting delays, winter construction and COVID-19 protocols, among other reasons. Line 3, built in the 1960s, ships crude from Alberta to U.S. Midwest refiners, and carries less oil than it was designed for because of … Read more Enbridge raises Line 3 replacement cost estimate by $1.1 billion

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Equinor considers more US asset sales in global strategy revamp

FILE PHOTO: A logo of Equinor, formerly known as Statoil, is seen at the company's headquarters in Fornebu, Norway May 21, 2018. REUTERS/Nerijus Adomaitis

OSLO (Reuters) – Norway’s Equinor is looking to sell more assets in the United States and exit several other countries as part of a major global reshuffle as it tries to return to profit after writing down $25 billion of U.S. assets over the past decade. While the company, like other energy majors, has been … Read more Equinor considers more US asset sales in global strategy revamp

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Mexico Blames U.S. as Energy Crisis Spills Across the Border

By Amy Stillman Feb 15, 2021 (Bloomberg)If President Andres Manuel Lopez Obrador was looking for ammunition in his quest to cut Mexico’s reliance on foreign energy, it would be hard to top the electricity blackouts affecting the north of the country.Mexico reported 4.77 million homes and businesses losing power Monday after imports of natural gas … Read more Mexico Blames U.S. as Energy Crisis Spills Across the Border

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Millions of Texas Without Power in Unprecedented Deep Freeze

Feb 15, 2021 (Bloomberg)  The energy crisis that crippled Texas’s power system and sent energy prices soaring to record levels is deepening with at least 5 million people across the U.S. taking turns being plunged into darkness to avoid a total collapse of their grids.Homes and businesses from North Dakota to Texas are losing power … Read more Millions of Texas Without Power in Unprecedented Deep Freeze

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Occidental Reschedules Fourth Quarter and Full-Year 2020 Results Due to Impacts of Severe Winter Storm

February 15, 2021 20:30 ET | Source: Occidental HOUSTON, Feb. 15, 2021 (GLOBE NEWSWIRE) — Occidental (NYSE:OXY) announced today it has rescheduled its upcoming earnings release and conference call due to impacts of the severe winter storm. The company will announce its fourth quarter and full-year 2020 financial results after close of market on Monday, February 22, 2021, and … Read more Occidental Reschedules Fourth Quarter and Full-Year 2020 Results Due to Impacts of Severe Winter Storm

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Brookfield Pursues $7.5 Billion Fund Devoted to ‘Net-Zero’ Shift

(Bloomberg) —Brookfield Asset Management Inc. plans to raise at least $7.5 billion for a new climate-focused fund, as the Canadian investment firm builds out an ESG business led by former Bank of England Governor Mark Carney. The Brookfield Global Transition Fund seeks to take advantage of accelerating interest in solutions to the global climate crisis, … Read more Brookfield Pursues $7.5 Billion Fund Devoted to ‘Net-Zero’ Shift

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Oil Rallies as Texas’ Wintry Weather Seen Curbing Shale Supplies

Oil-Prices-Up

Feb 14, 2021 (Bloomberg) Oil hit a fresh 13-month high as cold weather in Texas may see supply curbed from America’s largest shale patch.U.S. West Texas Intermediate futures surged as much as 2.2% in early Asian trade, rising above $60 a barrel for the first time in more than a year. Brent crude in London rallied … Read more Oil Rallies as Texas’ Wintry Weather Seen Curbing Shale Supplies

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Former Obama adviser Podesta on Biden’s Keystone XL decision: ‘He’s not going back’

WASHINGTON — A senior adviser to two former U.S. presidents delivered a stark message Friday to Canadians hoping for the resurrection of the Keystone XL pipeline: get over it. The project is gone and not coming back, said John Podesta, who was White House chief of staff in the final years of Bill Clinton’s second … Read more Former Obama adviser Podesta on Biden’s Keystone XL decision: ‘He’s not going back’

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SUSTAINABLE FINANCE: Goldman Says ESG Finance to Become ‘Core Part’ of Strategy

(Bloomberg) Goldman Sachs Group Inc. is just getting started in the fast-expanding world of sustainable finance.The New York-based lender plans to issue more environmental, social, and governance bonds on a regular basis as part of its plans to deploy $750 billion in sustainable financing, investing and advisory activity by 2030, according to Carey Halio, chief … Read more SUSTAINABLE FINANCE: Goldman Says ESG Finance to Become ‘Core Part’ of Strategy

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U.S. Army Corps attorneys withdraw from Dakota Access Pipeline case

(Reuters) – The U.S. Army Corps of Engineers said two federal attorneys representing it in an ongoing legal battle over the Dakota Access Pipeline are withdrawing from the case, according to court filings, as opponents fight for the line’s closure. The case is being closely watched by native groups and the energy industry, particularly after … Read more U.S. Army Corps attorneys withdraw from Dakota Access Pipeline case

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Big Freeze Threatens Texas With Blackouts as Markets Gyrate

Feb 14, 2021 (Bloomberg) The arctic freeze gripping the central U.S. is raising the specter of power outages in Texas and ratcheting up pressure on energy prices already trading at unprecedented levels.In Texas, where temperatures in Dallas are forecast to be 3 degrees Fahrenheit Monday (minus 16 Celsius), the operator of the state’s power grid warned … Read more Big Freeze Threatens Texas With Blackouts as Markets Gyrate

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U.S. senators prod Biden administration on Nord Stream 2 pipeline sanctions

WASHINGTON (Reuters) – Two U.S. senators urged President Joe Biden to ensure the implementation of sanctions passed in January aimed at stopping the Nord Stream 2 Russia-to-Germany gas pipeline project, which a State Department spokesman reiterated on Friday was a “bad deal” for Europe. Senators Jim Risch, a Republican, and Jeanne Shaheen, a Democrat, urged … Read more U.S. senators prod Biden administration on Nord Stream 2 pipeline sanctions

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Shell LNG Canada’s coronavirus restart plan approved

Shell LNG

(Reuters) – Royal Dutch Shell’s LNG Canada export project in British Columbia has won approval from health officials for construction to ramp back up with improved coronavirus protection measures. Work at the site was curtailed last month by an order from the Provincial Health Officer which applied to five major industrial projects in British Columbia, … Read more Shell LNG Canada’s coronavirus restart plan approved

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Analysis: Montney shale patch merger shines light on Canada’s premier play

CALGARY, Alberta (Reuters) – ARC Resources Ltd’s C$2.7 billion ($2.1 billion) bid to buy Seven Generations Energy Ltd will create the largest oil and gas producer in Canada’s Montney region, and may re-energize development in one of North America’s top shale plays. The combined company will have more financial strength to develop its 1.1 million … Read more Analysis: Montney shale patch merger shines light on Canada’s premier play

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IEA Says Oil Market Recovery Still Fragile as Virus Persists

By Grant Smith Feb 11, 2021 (Bloomberg) The re-balancing of global oil markets remains “fragile” amid weaker estimates for demand and a recovery in supplies, the International Energy Agency said.The IEA cut forecasts for world oil consumption in 2021 by 200,000 barrels a day as the pandemic continues to limit travel and economic activity. It boosted … Read more IEA Says Oil Market Recovery Still Fragile as Virus Persists

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Oil’s Longest Rally in Two Years Fizzles With Dollar Climbing

Feb 12, 2021 (Bloomberg) Oil slipped below $58 a barrel in New York as a recent rally fizzled on strength in the dollar.Futures fell for a second session, after their longest rally in two years. The enduring pandemic continues to crimp fuel consumption from China to the U.S., with the International Energy Agency cutting its demand forecast for 2021 … Read more Oil’s Longest Rally in Two Years Fizzles With Dollar Climbing

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Marathon Oil lays off 5% of workforce as part of cost-cut plans

(Reuters) – Marathon Oil Corp has laid off around 100 U.S. employees, or about 5% of its total workforce, a company spokeswoman told Reuters on Thursday, days after the oil and gas producer cut salaries for top executives and board members. Although oil prices have raced back above the pre-pandemic level of $60 per barrel … Read more Marathon Oil lays off 5% of workforce as part of cost-cut plans

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Enverus Presents Virtual EVOLVE Conference – Feb. 16 – 18

Register: https://www.enverus.com/evolve-2021/ About: Coming after a year of challenges and changes: COVID-19, election results and more industry leaders need to come together to collaborate over the outlook of the industry, trends that will drive investability and strategize to achieve success in 2021 and beyond. EVOLVE is a virtual conference presented by Enverus and focused on … Read more Enverus Presents Virtual EVOLVE Conference – Feb. 16 – 18

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Canada Gas & LNG 2021 Exhibition and Conference Date and Venue Change

On behalf of the esteemed Canada Gas & LNG Governing Body, dmg::events have made the decision to postpone the event to late August following federal and provincial safety guidelines surrounding COVID-19. To ensure the safety of all participants, the event will be hosted in a hybrid format, enabling exhibitors and delegates from around the world … Read more Canada Gas & LNG 2021 Exhibition and Conference Date and Venue Change

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U.S. Oil Majors Downgraded by S&P on Climate Risk, Earnings

By Kevin Crowley Feb 11, 2021 (Bloomberg)Exxon Mobil Corp., Chevron Corp. and ConocoPhillips had their credit ratings lowered after S&P Global Ratings followed through on its recent warning and revised the industry’s risk profile due to climate change and weak earnings.The three oil and gas producers all had their ratings cut one notch, S&P said … Read more U.S. Oil Majors Downgraded by S&P on Climate Risk, Earnings

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Brookfield Worth 40% More Than Its Current Price, CEO Flatt Says

By Scott Deveau Feb 11, 2021 (Bloomberg) Brookfield Asset Management Inc. ended 2020 with a record quarter and $602 billion in assets under management, but the head of the alternative asset manager said he believes its shares are undervalued.Bruce Flatt, Brookfield chief executive officer, said in a letter to shareholders Thursday that he believes the true value of … Read more Brookfield Worth 40% More Than Its Current Price, CEO Flatt Says

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New Mexico asks Biden administration to resolve drilling policy ‘confusion’

(Reuters) – New Mexico officials are asking the Biden administration to resolve confusion in the state’s oil and gas industry over a 60-day pause on allowing state-level staff to issue approvals for new federal lands drilling. In a letter dated Feb. 9 but seen by Reuters on Wednesday, Sarah Cottrell Propst, secretary of New Mexico’s … Read more New Mexico asks Biden administration to resolve drilling policy ‘confusion’

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Column: Oil refineries are not national security assets

Philadelphia Oil Refinery

By John Kemp LONDON (Reuters) – National governments still tend to think about oil refineries as strategic assets that must preserved to provide fuel security in the event of armed conflict, but that reflects an outdated view of risks arising from modern warfare. Exxon’s decision to convert a small refinery near Melbourne into an import … Read more Column: Oil refineries are not national security assets

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More Green, More Cost: Making Wind Turbines Greener Could Also Make Them More Expensive

Feb 11, 2021 (Bloomberg) The world’s biggest wind turbine manufacturers have committed to eliminating their net emissions of greenhouse gases, but reducing the carbon footprint of their production process may mean customers have to bear some of the cost.Global players such as Denmark’s Vestas Wind Systems A/S and Siemens Gamesa Renewable Energy SA, its German-Spanish rival, … Read more More Green, More Cost: Making Wind Turbines Greener Could Also Make Them More Expensive

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Analysis: Global fuel prices jump as Asia, U.S. to rev up demand in second quarter

gas pumps

SINGAPORE/NEW YORK/LONDON (Reuters) – Global oil and fuel prices are picking up as demand returns to pre-pandemic levels amid easing coronavirus lockdowns in key countries like China and India and signs of increasing road travel in several countries. Gasoline prices in Asia, Europe and the United States all scaled 1-year highs this week, while benchmark … Read more Analysis: Global fuel prices jump as Asia, U.S. to rev up demand in second quarter

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Canadian Gas Producers Seven Generations, ARC Rise on Merger Deal

Feb 11, 2021 (Bloomberg) Canadian natural gas producers Seven Generations Energy Ltd. and ARC Resources Ltd. agreed to merge, the latest example of energy industry consolidation in North American as companies seek scale following a years-long downturn.Seven Generations and ARC, which are both focused on western Canada’s Montney shale formation, said Wednesday evening they had agreed … Read more Canadian Gas Producers Seven Generations, ARC Rise on Merger Deal

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Oil market rebalancing will soon set stage for more OPEC+ supply: IEA

LONDON (Reuters) – Global oil supply still outstrips demand due to persistent COVID-19 lockdowns and the spread of variants, the International Energy Agency (IEA) said on Thursday, but vaccines should help demand recover and soon enable producers to pump more. “With demand forecast to rise strongly and still modest growth in non-OPEC supply expected, a … Read more Oil market rebalancing will soon set stage for more OPEC+ supply: IEA

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Cold Snap Gives Oil Rebound a Boost With Run for Heating

Feb 11, 2021 (Bloomberg) The polar blast freezing much of the U.S. is driving up demand for heating oil, a boon for a crude market that until now has relied on freight to make up for the pandemic’s devastating impact on driving and air travel. America’s insatiable appetite for online shopping has kept trucks crisscrossing the … Read more Cold Snap Gives Oil Rebound a Boost With Run for Heating

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Oil Pares Loss With Equity Rally Despite Shaky Demand Outlook

Feb 11, 2021 (Bloomberg) Oil pared declines alongside a broader market rally as investors assess the International Energy Agency’s bleaker outlook for global crude demand. Futures in New York earlier dropped as much as 1% on Thursday. Equities strengthened as a decline in initial jobless claims showed a somewhat stronger labor market, while a weaker U.S. … Read more Oil Pares Loss With Equity Rally Despite Shaky Demand Outlook

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With oil past peak, Shell sharpens 2050 zero emissions goal

LONDON (Reuters) – Energy giant Royal Dutch Shell vowed to eliminate net carbon emissions by 2050, raising its ambition from previous targets, as its oil output declines from a 2019 peak. The Anglo-Dutch company is in the midst of its largest overhaul yet as it prepares to expand its renewables and low-carbon business in the … Read more With oil past peak, Shell sharpens 2050 zero emissions goal

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OPEC again cuts 2021 oil demand view, sees second half pickup

LONDON (Reuters) – World oil demand in 2021 will rebound more slowly than previously thought, OPEC said on Thursday, adding to a series of downgrades as the impact of the pandemic lingers. Demand will rise by 5.79 million barrels per day (bpd) this year to 96.05 million bpd, the Organization of the Petroleum Exporting Countries … Read more OPEC again cuts 2021 oil demand view, sees second half pickup

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U.S. crude stockpiles plunge as refining activity picks up: EIA

(Reuters) – U.S. crude oil stocks plunged unexpectedly last week, tumbling by more than 6 million barrels, as refiners ramped up production rates to pre-pandemic levels in March amid rising fuel demand, the Energy Information Administration said on Wednesday. Crude inventories fell by 6.6 million barrels in the week to Feb. 5 to 469 million … Read more U.S. crude stockpiles plunge as refining activity picks up: EIA

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DCP Midstream Reports Fourth Quarter Results and Announces 2021 Guidance

DENVER, Feb. 10, 2021 (GLOBE NEWSWIRE) — Today, DCP Midstream, LP (NYSE: DCP) reported its financial results for the quarter and year ended December 31, 2020. HIGHLIGHTS For the quarter and year ended December 31, 2020, DCP generated net income (loss) attributable to partners of $86 million and $(306) million, net cash provided by operating activities … Read more DCP Midstream Reports Fourth Quarter Results and Announces 2021 Guidance

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Oklahoma Governor Stitt Signs Executive Order To Protect Oklahoma Energy From Federal Overreach

Governor Kevin Stitt signed an executive order today to protect Oklahoma’s oil and gas industry from a Washington power grab. Executive Order 2021-03 highlights Oklahoma’s role as an global leader in energy production as well as the state’s successful “all of the above” strategy that has reduced carbon dioxide emissions to levels below the national average … Read more Oklahoma Governor Stitt Signs Executive Order To Protect Oklahoma Energy From Federal Overreach

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Bonanza Creek and HighPoint Resources Commence Exchange Offer and Consent Solicitation for Senior Notes of HighPoint Operating Corporation

  February 10, 2021 08:45 ET | Source: Bonanza Creek Energy, Inc. DENVER, Feb. 10, 2021 (GLOBE NEWSWIRE) — Bonanza Creek Energy, Inc. (NYSE: BCEI) (“Bonanza Creek” or the “Company”) and HighPoint Resources Corporation (“HighPoint”) (NYSE: HPR) today announced that Bonanza Creek has commenced offers to exchange (each, an “Exchange Offer” and, collectively, the “Exchange Offers”) shares … Read more Bonanza Creek and HighPoint Resources Commence Exchange Offer and Consent Solicitation for Senior Notes of HighPoint Operating Corporation

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HighPoint Resources Announces March 12, 2021 Special Meeting of Stockholders Relating to Bonanza Creek’s Acquisition of HighPoint Resources

February 10, 2021 08:46 ET | Source: HighPoint Resources Corporation DENVER, Feb. 10, 2021 (GLOBE NEWSWIRE) — HighPoint Resources Corporation (NYSE: HPR) (the “Company” or “HighPoint”) today announced that a special meeting of stockholders of the Company (the “HighPoint special meeting”) is scheduled to take place virtually on March 12, 2021 at 9:00 a.m., Mountain Time. The … Read more HighPoint Resources Announces March 12, 2021 Special Meeting of Stockholders Relating to Bonanza Creek’s Acquisition of HighPoint Resources

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Vestas Ups Stakes in Race for World’s Biggest Wind Turbine

By William Mathis Feb 10, 2021 (Bloomberg) Vestas Wind Systems A/S will start selling the world’s biggest offshore wind turbine, standing taller than the highest point of the Golden Gate Bridge. The giant machine, that’ll come into use by 2024, will compete with the skyscraper-sized turbines already on sale by its competitors. The industry is racing … Read more Vestas Ups Stakes in Race for World’s Biggest Wind Turbine

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Oil Extends Longest Rising Streak in Two Years as Stocks Drain

Oil Storage

By Saket Sundria and Alex Longley Feb 10, 2021 (Bloomberg) Oil rose again to extend the longest run of gains in two years, with reports of falling U.S. crude stockpiles giving the latest signal of tightening global supplies. Some of the biggest moves in the past day have come at the front of the futures curve. … Read more Oil Extends Longest Rising Streak in Two Years as Stocks Drain

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The Boom in ESG Shows No Signs of Slowing

Feb 10, 2021 (Bloomberg) The numbers are simply astounding. Governments, corporations and other groups raised a record $490 billion last year selling green, social and sustainability bonds. A further $347 billion poured into ESG-focused investment funds—an all-time high—and more than 700 new funds were launched globally to capture the deluge of inflows. And 2021 is shaping up to be just as frothy. … Read more The Boom in ESG Shows No Signs of Slowing

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Saudi Aramco prepares $10 billion loan for pipeline business buyers: sources

DUBAI (Reuters) – Saudi Aramco is preparing a financing package of up to $10 billion that it could offer to buyers of its pipeline business unit, three sources said, as the oil giant seeks to extract value from its assets in an era of lower oil prices. Aramco is in talks with banks to provide … Read more Saudi Aramco prepares $10 billion loan for pipeline business buyers: sources

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Chesapeake Emerges From Bankruptcy Vowing ‘New Era for Shale’

(Bloomberg) Chesapeake Energy Corp., the once-iconic energy explorer that helped ignite the American shale-gas boom, is emerging from bankruptcy protection a shadow of its former self. And in a way, that’s just fine with its boss.“Shale has been marked by growth, and growth for all the wrong reasons,” Doug Lawler, the company’s chief executive officer, said … Read more Chesapeake Emerges From Bankruptcy Vowing ‘New Era for Shale’

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Macquarie taps renewables trend with $2 billion infrastructure fund

LONDON (Reuters) – Macquarie, the world’s largest infrastructure investor, has raised 1.6 billion euros ($1.93 billion) for its second global renewables fund, driven by strong demand from institutional investors in Britain and Germany. Countries and companies are seeking to increase their usage of renewable energy to lower carbon emissions and fight climate change. At the … Read more Macquarie taps renewables trend with $2 billion infrastructure fund

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Democrat Senator Manchin urges Biden to reverse opposition to Keystone XL pipeline

By Reuters Staff WASHINGTON (Reuters) – The head of the U.S. Senate energy committee, Joe Manchin, on Tuesday urged President Joe Biden to reverse his opposition to the Keystone XL pipeline, saying the project provides union jobs and is safer than transporting the oil via trucks and trains. Biden revoked a permit for the pipeline … Read more Democrat Senator Manchin urges Biden to reverse opposition to Keystone XL pipeline

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U.S. crude output to decline more than previously forecast in 2021: EIA

By Reuters Staff NEW YORK (Reuters) – The government lowered its outlook for U.S. crude oil production in 2021, with expected output set to average 11.02 million bpd for the year, the U.S. Energy Information Administration (EIA) said on Tuesday. Oil prices have rebounded from the lows touched in 2020 as Saudi Arabia pledged additional oil … Read more U.S. crude output to decline more than previously forecast in 2021: EIA

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Canada plans hydropower push as Biden looks to clean up U.S. grid

CALGARY, Alberta/ MONTREAL, (Reuters) – Canada sees an opportunity in U.S. President Joe Biden’s push to achieve a carbon-free electrical grid by 2035: hydropower exports. With Canadian crude exports taking a hit from Biden’s decision to scrap the Keystone XL oil pipeline, Ottawa is increasingly focused on sales of clean energy. Around 60% of the … Read more Canada plans hydropower push as Biden looks to clean up U.S. grid

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Unit Health Assessments an Affordable Feature of BechtCONNECT

By Kristen Becht Now that 2020 is behind us, let’s focus on making improvements in 2021! Becht invites you to try a feature of our BechtCONNECT service: Unit Health Assessments. Becht will assist you in targeting operational and margin optimization with a focus on cost-effective solutions.  We’re approaching Unit Health Assessments in a new way … Read more Unit Health Assessments an Affordable Feature of BechtCONNECT

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CASE STUDY: Whitecap Takes Asset Integrity to the Next Level with Oplii

Oplii-Featured-Logo-400x270-1-300x203

“As we grew, our existing databases could not meet the company’s needs,” said Sask. Chief Inspector Kim Bachek. “We needed something that could scale up to handle more data, more users and workflows to support MOC and preventative maintenance.” -Whitecap Resources Inc. About Whitecap Whitecap is a clean Canadian energy company. In 2020, it produced 70,000+ … Read more CASE STUDY: Whitecap Takes Asset Integrity to the Next Level with Oplii

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Air Intake Flame Arrestors Are Non-Negotiable – Clear Rush Co.

Clear Rush Co Feature Logo 400x270

Oil and Gas Operators lives are busy and dangerous. From driving hundreds of kilometers on ice-covered roads to checking wells and unthawing frozen lines, each day comes with its hazards. However, Operators wellbeing should not be put at risk, nor have to fear an impending threat to their safety, with an improperly functioning enclosed vapour … Read more Air Intake Flame Arrestors Are Non-Negotiable – Clear Rush Co.

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STEP Energy Services and Universal Chemical Solutions Agree to Deliver Post-Production Stimulation Services

Step-Energy-Services-Feature

Calgary, Alberta – February, 2021 – STEP Energy Services Ltd. (“STEP”) and Universal Chemical Solutions, Inc. (“UCS”) are pleased to announce they have entered into an agreement that will facilitate the delivery of post-production stimulation services to energy producers working in the Eagle Ford Shale, Permian Basin, Niobrara-DJ Basin and Bakken Formation. Single Shot IOR™ … Read more STEP Energy Services and Universal Chemical Solutions Agree to Deliver Post-Production Stimulation Services

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Did you know you can integrate Aimsio with your existing software? Find out if your software is compatible.

Integrate with Other Systems Aimsio integrates with other software systems, eliminating the need for data entry from one platform to another. Here’s a list of software we integrate with: Want more info? The ability to integrate with your software depends heavily on which version you are using. To verify your version is compatible, select the … Read more Did you know you can integrate Aimsio with your existing software? Find out if your software is compatible.

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Biden Presidency Starts With a Giant Bet on Run-It-Hot Economics

Feb 9, 2021 (Bloomberg) Joe Biden’s administration has dedicated its first few weeks in office to spending more money on pandemic relief — and shrugged off warnings that the economy may overheat as a result. If the president sticks to his guns, it could mark another milestone in the great policy rethink that got under way … Read more Biden Presidency Starts With a Giant Bet on Run-It-Hot Economics

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Oil climbs to 13-month high on output cuts, weaker dollar

Oil-Prices-Up

LONDON (Reuters) – Oil prices scored their seventh straight session of gains for both benchmark contracts on Tuesday, hitting their highest since late January 2020, as supply cuts by major producers and optimism over a recovery in fuel demand support energy markets. Brent crude futures for April gained 41 cents, or 0.7%, to $60.97 a … Read more Oil climbs to 13-month high on output cuts, weaker dollar

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China Solar Supplier Plans Huge Plant to Meet Soaring Demand

Feb 9, 2021 (Bloomberg) One of the world’s largest producers of the key raw material for solar panels is planning a massive expansion amid surging demand for clean energy.Xinte Energy Co. will build a polysilicon project able to produce about a third of current global production in Inner Mongolia, it said Monday in a filing to … Read more China Solar Supplier Plans Huge Plant to Meet Soaring Demand

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Total rebrands in pivot away from oil after better quarter

PARIS (Reuters) – France’s Total posted better than expected earnings in the fourth quarter as oil prices stabilised, and said it would change its name as part of a push to diversify and grow renewable power and electricity production. The French oil and gas major, which like rivals suffered in 2020 as fuel consumption tumbled … Read more Total rebrands in pivot away from oil after better quarter

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Biggest LNG Maker Hires Builders for $29 Billion Expansion

By Verity Ratcliffe Feb 9, 2021 (Bloomberg) Qatar hired engineers for a planned $29 billion expansion of its capacity to produce liquefied natural gas, seeking to cement its position as the world’s biggest supplier of the fuel. While Australia, the U.S. and other producers have been ramping up output, Qatar’s LNG capacity has stayed mostly flat … Read more Biggest LNG Maker Hires Builders for $29 Billion Expansion

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Digital ESG: How Digital Accelerates Your ESG Agenda (Part 2) – Geoffrey Cann

By Geoffrey Cann ESG and digital transformation pressures are hammering the fortunes of oil and gas, but digital can also help accelerate the ESG agenda. I call it Digital ESG. (part 2) This is part two of a two part article, written initially as a speech specifically for a webinar hosted by Finboot (a European blockchain middleware … Read more Digital ESG: How Digital Accelerates Your ESG Agenda (Part 2) – Geoffrey Cann

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Amazon orders hundreds of trucks that run on natural gas

(Reuters) – Amazon.com Inc has ordered hundreds of trucks that run on compressed natural gas as it tests ways to shift its U.S. fleet away from heavier polluting trucks, the company told Reuters on Friday. The coronavirus pandemic caused delivery activity to surge in 2020, with truck volumes exceeding 2019 levels on average while passenger … Read more Amazon orders hundreds of trucks that run on natural gas

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Ford boosts investment plan for EVs and self driving vehicles, reports loss

DETROIT (Reuters) – Ford Motor Co on Thursday more than doubled the amount of money it plans to invest on electric and autonomous vehicles, to $29 billion, even as it posted a fourth-quarter net loss of $2.8 billion. The No. 2 U.S. automaker also said the global semiconductor chip shortage could lead to a 10% … Read more Ford boosts investment plan for EVs and self driving vehicles, reports loss

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Oil’s Remarkable Rebound From a Year of Catastrophe

(Bloomberg)  One year after the first glimmers of the catastrophe awaiting global oil markets — from deserted Chinese cities to grounded jets — crude is staging a remarkable turnaround.The crisis triggered by the deadly coronavirus was the worst the petroleum industry has ever seen. Fuel demand crashed by a fifth, prices slumped below zero, producers fought … Read more Oil’s Remarkable Rebound From a Year of Catastrophe

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U.S. and Canadian natural gas prices soar during arctic freeze

Natural Gas

Reuters Natural gas prices across North America soared on Monday as homes and businesses cranked up their heaters to escape a blast of arctic air and snow moving from Canada to the U.S. Midwest. “This blast of cold air will likely settle in for multiple days to come,” meteorologists at AccuWeather said. High temperatures in … Read more U.S. and Canadian natural gas prices soar during arctic freeze

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Court order delays construction at ConocoPhillips’ Alaska project

ANCHORAGE, Alaska (Reuters) – A weekend court ruling has temporarily blocked winter construction at a huge ConocoPhillips oil project on Alaska’s North Slope. U.S. District Court Judge Sharon Gleason issued an order Saturday barring ConocoPhillips from starting planned gravel mining and gravel-road construction at its Willow project. With an estimated 590 million barrels of oil … Read more Court order delays construction at ConocoPhillips’ Alaska project

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Big Oil Takes Over Next Generation of U.K. Offshore Wind

By William Mathis and Laura Hurst Feb 8, 2021 (Bloomberg) Oil majors agreed to pay a hefty premium to develop the next generation of major British offshore wind farms after BP Plc and Total SE won contracts in an auction ahead of many of the utilities that have dominated the space until now. The Crown Estate … Read more Big Oil Takes Over Next Generation of U.K. Offshore Wind

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