(Permian Resources, 3.Sep.2024) — Permian Resources Corporation announced an update to its return of capital strategy, which increases its quarterly base dividend from $0.06 per share to $0.15 per share ($0.60 per share annually). This represents a 150% increase to the company’s prior base dividend and provides a leading base […]
Category: North America
North America energy
Chevron Boosts Recovery at Two Facilities in US GOM
(Chevron, 3.Sep.2024) — Chevron Corporation has started water injection operations at two projects to boost oil and natural gas recovery at the company’s existing Jack/St. Malo and Tahiti facilities in the deepwater U.S. Gulf of Mexico, where Chevron operations produce some of the world’s lowest carbon intensity oil and gas. “Delivery of these two projects […]
Permian Resources Execs to Present at Barclays Conference
(Energy Analytics Institute, 3.Sep.2024) — Permian Resources Corporation Co-CEO Will Hickey and CFO Guy Oliphint are scheduled to present at the Barclays CEO Energy-Power Conference in New York City, New York on 3 Sep. 2024 at 12:40 p.m. Eastern Time, the company said 3 Sep. 2024 in an official statement. […]
Weatherford Acquires Datagration Solutions
(Weatherford, 3.Sep.2024) — Weatherford International plc announced the acquisition of Datagration Solutions Inc., an innovator in unified data integration, analytics, and machine learning. The acquisition establishes Weatherford as having one of the industry’s most capable and contemporary digital offerings for production and asset optimization and demonstrates its commitment to continuously driving innovation across […]
Oxy, CrownRock and Ecopetrol BODs Resignations
(Ecopetrol, 3.Sep.2024) — Ecopetrol S.A. announces that the directors Juan José Echavarría and Luis Alberto Zuleta presented their resignations as independent members of the company’s Board of Directors, in the terms of the communication that the media previously released to the public. This resignation was presented and made known to […]
EAI’s NRGBriefs: Aug. 2024
(Energy Analytics Institute, 31.Aug.2024) — Energy briefs as well as others related to finance and projects during Aug. 2024 including Petrobras achieving its main target at the Uchuva-2 well offshore Colombia; Golar LNG and bp entering into commercial reset arrangements for FLNG Gimi; and more. LATIN AMERICA AND THE CARIBBEAN […]
Fitch Sees Pickup in Permian Transactions
(Energy Analytics Institute, 30.Aug.2024) — ”Fitch believes Permian transactions could pick up again if large producers choose to shed non-core assets, following recent consolidation, to meet debt reduction targets or re-focus their asset base,” Fitch said 9 Aug. 2024 in an official statement. ”These assets could be acquisition targets for […]
Mexico Pacific inks LNG SPA with POSCO International
(Mexico Pacific, 28.Aug.2024) — Mexico Pacific, owner of the Saguaro Energía LNG facility and associated Sierra Madre Pipeline, today announced that it has signed a sales and purchase agreement (SPA) with POSCO International Corporation, Korea’s largest energy trading company and a global leader in the pursuit of a sustainable future. […]
Major Integrated to Sell Unused Energy Assets on AllSurplus Marketplace
(Liquidity Services, 28.Aug.2024) — Liquidity Services, a global commerce company powering the circular economy, announced the sealed bid auction of energy surplus assets for a leading integrated oil and gas partner. Three unused, uninstalled ANGI compressed natural gas (CNG) refueling stations are currently available until 6:00 pm EDT on 12 […]
A Month After Venezuela’s Contested Election, the Opposition Fights On
(The Washington Post, 27.Aug.2024) — A month ago, Venezuela’s opposition nurtured a cautious hope. A national election seemed to present a genuine chance to oust the entrenched autocratic regime of President Nicolás Maduro. Even as Maduro and his allies stacked the odds against their opponents, disqualifying top candidates and wielding the […]
ExxonMobil Global Outlook: Our view to 2050
(ExxonMobil, 26.Aug.2024) — In 2050, the world will be different—vastly different. To meet critical needs, the world will need to increase access to reliable, affordable energy from a broad set of solutions. ____________________
AMLO Says North American Economic Integration Important
(Energy Analytics Institute, 26.Aug.2024) — Mexico’s President Andrés Manuel López Obrador said that the reality is that the economic integration between Mexico, U.S. and Canada was is so important that it was impossible to break it. López Obrador, also known as AMLO, made the statements on 26 Aug. 2024 during […]
Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal
(Bloomberg, 26.Aug.2024) — Exxon Mobil Corp. forecasts global oil demand in 2050 will be the same — or even slightly higher — than current levels, putting efforts to reach net zero carbon emissions by mid-century well out of reach. Oil demand will remain above 100 million barrels a day through […]
EVLO Puts into Operation a First Battery Energy Project in the US
(EVLO, 20.Aug.2024) — EVLO Energy Storage Inc., a fully integrated battery energy storage system (BESS) provider and wholly owned subsidiary of Hydro-Québec, today announced that it has completed the commissioning of a first utility-scale BESS project in the United States. The contracted 3 MW/12 MWh installation is in Troy, Vermont. […]
AVAIO Partners with Sunbird Energy for Energy Solutions Across Quebec
(AVAIO, 20.Aug.2024) — AVAIO Digital Partners (ADP), a data center business developing sustainable hyperscale data centers in North America and Europe, is pleased to announce its partnership with one of Quebec’s leading renewable energy developers, Sunbird Energy. The partnership integrates Sunbird’s renewable energy capabilities with ADP’s large scale development project in […]
Petronet LNG Selects Lummus’ Novolen Technology for New, Large-Scale Plant in India
(Lummus Technology, 20.Aug.2024) — Lummus Technology, a global provider of process technologies and value-driven energy solutions, announced an award from Petronet LNG Ltd. Petronet will license Lummus’ Novolen® polypropylene (PP) technology for a new 500 KTA plant in Dahej, Gujarat, India. “This award strengthens Novolen’s position in India and around the world, reinforcing it as […]
Fortera Secures $85mn for Deployment of Low-Carbon Cement
(Fortera, 20.Aug.2024) — To meet the growing demand to lower the cement industry’s carbon emissions, advanced materials manufacturer Fortera secured $85mn in Series C funding to scale the deployment of its low-carbon cement technology that integrates with existing infrastructure. The round included participation from previous investors Khosla Ventures and Temasek, and first-time investments from Wollemi Capital, NOVA […]
TGS Secures Extension to Ocean Bottom Node Program in GOM
(TGS, 20.Aug.2024) — TGS announced the award of an Ocean Bottom Node (OBN) data acquisition contract in North America. This four-month extension to an existing contract will build on existing operations, reinforcing TGS’ position in the market and underscoring the commitment to delivering high-quality seismic data solutions. The project is […]
FMC Submits Applications in Eight Countries for Dodhylex™ Active
(FMC, 20.Aug.2024) — FMC Corporation, an agricultural sciences company, recently submitted regulatory applications for Dodhylex™ active herbicide in eight rice-growing countries. Registration dossiers were submitted in India, Brazil, the Philippines, the United States, Colombia, South Korea, Peru and Taiwan, which account for approximately 35% of the estimated 165 million hectares of planted rice globally. Regulatory submissions for Dodhylex™ active are […]
Fortune Completes New Option Agreement to Acquire the JFSL Alberta Refinery
(Fortune, 19.Aug.2024) — Fortune Minerals Limited has entered into a new option agreement with JFSL Field Services ULC (JFSL) to purchase the brownfield industrial site in Lamont County, Alberta where it plans to construct its hydrometallurgical refinery (Alberta Refinery). The Alberta Refinery would process metal concentrates from Fortune’s planned NICO […]
Fast LNG Asset Resumes Production After Scheduled Maintenance Outage
(New Fortress Energy, 19.Aug.2024) — New Fortress Energy Inc. announced that the scheduled maintenance outage of our 1.4 mtpa Fast LNG 1 asset located offshore Altamira, Mexico (FLNG) has been completed, and the FLNG unit has returned to production as scheduled this morning. This planned outage followed the significant milestone […]
Oxy on Continued Progress on Debt Reduction, Divestiture Initiatives
(Oxy, 19.Aug.2024) — Occidental announced it has achieved $3bn in principal debt reduction in the third quarter of 2024, utilizing robust organic cash flow from operations and proceeds from divestitures. “We are pleased with the rapid and significant progress of our deleveraging program along with enhancements made to our already […]
SLB and Palo Alto Networks to Strengthen Cybersecurity
(SLB, 19.Aug.2024) — Global energy technology company SLB and global cybersecurity company Palo Alto Networks announced they are expanding their collaboration to strengthen cybersecurity for the energy sector. The companies will combine SLB’s cloud and edge technologies and domain expertise in the energy industry with Palo Alto Networks’ cross-industry, platform-based […]
Fallen Angels Remain Costly Despite Tightening Spreads
(S&P Global Ratings, 19.Aug.2024) — The absolute cost of falling to speculative-grade (to ‘BB+’ from ‘BBB-‘) for U.S. corporates has shrunk considerably to 24 basis points (bps) as of 31 Jul. 2024, from 54 bps the year prior, S&P Global Ratings said in “The Cost Of A Notch: Fallen Angels […]
US LNG Industry Under Pressure as Challenges and Uncertainty Mount
(FT.com, 17.Aug.2024) — The US liquefied natural gas industry faces mounting challenges as legal clashes with activists and contractors combine with a federal permitting freeze to slow the expansion of the world’s biggest exporter. Two multibillion-dollar terminals under construction on the Texas Gulf Coast backed by supermajors ExxonMobil and TotalEnergies […]
Mexico’s First LNG Cargo Sails, Launching New Business for Pipes
(East Daley, 16.Aug.2024) — New Fortress Energy (NFE) has loaded the first cargo from its floating LNG platform offshore Altamira, Mexico. The start-up of Mexico’s first liquefaction project will contribute new demand at the Agua Dulce hub in South Texas and boost business for two pipelines in particular. In a […]
Silicon Ranch Energizes First Utility-Scale Solar Project in Alberta’s Industrial Heartland
(Silicon Ranch, 15.Aug.2024) — Silicon Ranch, one of the largest independent power producers specializing in solar energy, agrivoltaics, battery storage, and carbon solutions in the U.S., today announced that its Scotford Solar Farm has reached commercial operation near Edmonton, Alberta in Canada. The 58-megawatt (MWAC) facility—the largest behind-the-meter solar project […]
IsoEnergy Generates Six New Drill Targets at Larocque East Project
(IsoEnergy, 15.Aug.2024) — IsoEnergy Ltd. provided an update on its summer exploration program at the Larocque East Project (the “Project“), located in the eastern AthabascaBasin (Figure 1, main photo). The Company has successfully completed Ambient Noise Tomography (“ANT“) surveys covering an additional 20 km2constituting the remaining eastern extent of the property not […]
NASA Funds Research Projects Advancing STEM Career Development
(NASA, 14.Aug.2024) — NASA has awarded $6mn to 20 teams from emerging research institutions across the United States supporting projects that offer career development opportunities for science, technology, engineering, and mathematics (STEM) students. This is the third round of seed funding awarded through the agency’s MOSAICS (Mentoring and Opportunities in STEM with Academic Institutions for Community Success) […]
Equinor Gets Offshore Wind Lease in US Central Atlantic Auction
(Equinor, 14.Aug.2024) — Equinor has been announced as a provisional winner in the Bureau of Ocean Energy Management’s (BOEM) offshore wind energy lease auction in the U.S. Central Atlantic region. The ~2 gigawatt (GW) lease will have the capacity to produce enough energy to power approximately 900,000 U.S. homes. With a […]
Shell Invests in Water Injection at US GOM Field
(Shell, 14.Aug.2024) — Shell Offshore Inc., a subsidiary of Shell plc, has taken a Final Investment Decision (FID) on a ‘waterflood’ project at its Vito asset in the US Gulf of Mexico. Water will be injected into the reservoir formation to displace additional oil. The process is due to begin in […]
Ecopetrol Reveals 2Q:24 Results
(Ecopetrol, 12.Aug.2024) — During the Second Quarter of 2024 (2Q24), Ecopetrol Group confronted a challenging environment, which continues to be impacted by several external variables, including the revaluation of the Colombian peso, inflationary pressures, and a decrease in the prices of our refined products. We managed these challenges with resilience, maximizing operational […]
Fitch Downgrades NFE’s IDR to ‘B+’
(Fitch, 12.Aug.2024) — Fitch Ratings has downgraded New Fortress Energy Inc.’s (NFE) Long-Term Issuer Default Rating (IDR) to ‘B+’ from ‘BB-‘ and has placed it on Rating Watch Negative. The senior secured debt has been downgraded to ‘B+’/’RR4’ from ‘BB-‘/’RR4’. ‘RR4’ denotes average recovery in the event of default. The […]
Chevron Starts Production at Anchor in US GOM
(Chevron, 12.Aug.2024) — Chevron Corporation started oil and natural gas production from the Anchor project in the deepwater U.S. Gulf of Mexico. Anchor production marks the successful delivery of high-pressure technology that is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 feet below sea […]
First Oil from the Anchor field in Gulf of Mexico
(TotalEnergies, 12.Aug.2024) — TotalEnergies announces the start of production from the Anchor field, located in the US Gulf of Mexico, in which the company has a 37.14% interest alongside operator Chevron (62.86%). Located 225 km off the Louisiana coast, Anchor, which development was launched in Dec. 2019, consists of a […]
New Fortress Reports on 2Q:24 Results, Fast LNG
(New Fortress, 9.Aug.2024) — New Fortress Energy Inc. reported its financial results for the second quarter of 2024. Summary Highlights — Adjusted EBITDA(1) of $120mn in the second quarter of 2024 — Second quarter results do not include $107mn of contracted LNG sales during the quarter, which will be included in Adjusted EBITDA and earnings […]
Rice’s Baker Institute unveils Argentina Energy Sector Initiative
(Baker Institute, 8.Aug.2024) — Rice University’s Baker Institute for Public Policy announces a new initiative focused on the Argentine energy sector that will result in conferences, reports and workshops. Argentina possesses a wide range of energy resources, including the Vaca Muerta shale formation which contains the world’s second largest unconventional […]
Rockefeller Foundation Green Power Gap
(Rockefeller, 7.Aug.2024) — The Rockefeller Foundation released a new report that calculates an 8,700 terawatt-hour (TWh) “Green Power Gap” across 72 countries in Africa, Asia, Latin America and the Caribbean, and the Middle East. Currently home to 3.8 billion people, these countries must deploy 8,700 TWh of clean power by 2050 – approximately twice the United States’ annual generation – […]
Sempra Reports 2Q:24 Earnings
(Sempra, 6.Aug.2024) — Sempra today reported second-quarter 2024 earnings, prepared in accordance with generally accepted accounting principles (GAAP), of $713mn, or $1.12 per diluted share, compared to second-quarter 2023 GAAP earnings of $603mn, or $0.95 per diluted share. On an adjusted basis, the company’s second-quarter 2024 earnings were $567mn, or $0.89per diluted share, compared to $594mn, or $0.94 per diluted share in […]
Bristow Reports 2Q:24 Results, Raises Outlook
(Bristow, 6.Aug.2024) — Bristow Group Inc. reported net income attributable to the company of $28.2mn, or $0.96 per diluted share, for its quarter ended 30 June 2024 (the “Current Quarter”) on operating revenues of $352.5mn compared to net income attributable to the company of $6.6mn, or $0.23 per diluted share, for the quarter ended 31 March 2024 (the “Preceding […]
Diamond Offshore Reports 2Q:24 Results
(Diamond Offshore, 6.Aug.2024) — Diamond Offshore Drilling, Inc. reported the following results for the second quarter of 2024: Bernie Wolford, Jr., President and Chief Executive Officer of Diamond Offshore, stated, “We are pleased with our second quarter results, achieving adjusted EBITDA of $58mn, which is in line with our guided range. […]
Kosmos’ 2Q:24 Update on Projects from Mauritania to Senegal
(Kosmos, 5.Aug.2024) — Kosmos Energy Ltd. announced its financial and operating results for the second quarter of 2024. For the quarter, the company generated a net income of $60mn, or $0.12 per diluted share. When adjusted for certain items that impact the comparability of results, the company generated an adjusted net income(1) of $80mn, or $0.17 per […]
Cheniere and Galp Ink Long-Term LNG SPA
(Cheniere, 5.Aug.2024) — Cheniere Energy, Inc. announced that its subsidiary Cheniere Marketing, LLC, entered into a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) with Galp Trading S.A., a subsidiary of Galp Energia, SGPS, S.A. Under the SPA, Galp has agreed to purchase approximately 0.5 million tonnes per […]
Allison Forms Strategic Partnership to Expand Global Mining Presence
(Allison, 18.Jul.2024) — Allison Transmission has formed a new strategic partnership with Lingong Heavy Machinery Co. Ltd. (LGMG), a prominent Chinese mining equipment manufacturer, to provide industry-leading mining vehicles to customers across the globe. As a next step in the companies’ long-term partnership, LGMG has integrated Allison 6625 Wide Body Dump […]
Ryerson Acquires Production Metals
(Ryerson, 2.Aug.2024) — Ryerson Holding Corporation announced its acquisition of Production Metals, LLC. Based in Monroe, Connecticut, Production Metals serves New England and the surrounding area with bar, tube, sheet, and plate products along with precision sawing, lasering, and water jet cutting. “On behalf of all Ryerson Stakeholders, we could not be […]
Exxon Reports 2Q:24 Results
(Exxon, 2.Aug.2024) — Exxon Mobil Corporation announced second-quarter 2024 earnings of $9.2bn, or $2.14 per share assuming dilution. Cash flow from operating activities was $10.6bn and cash flow from operations excluding working capital movements was $15.2bn. Shareholder distributions of $9.5bn included $4.3bn of dividends and $5.2bn of share repurchases, consistent with […]
Universal Logistics Holdings Unveils EVs
(Universal Logistics, 2.Aug.2024) — Universal Logistics Holdings, Inc. announces the integration of the 2025 Peterbilt 579EV into its fleet as a part of our ongoing sustainability initiatives. Universal Intermodal Services, Inc., a subsidiary of Universal Logistics Holdings, Inc., is poised to use these electric vehicles to reduce its carbon footprint throughout Southern […]
Chevron Reports 2Q:24 Earnings, to Move HQ to Houston
(Chevron, 2.Aug.2024) — Chevron Corporation reported earnings of $4.4bn ($2.43 per share – diluted) for second quarter 2024, compared with $6bn ($3.20 per share – diluted) in second quarter 2023. Foreign currency effects decreased earnings by $243mn. Adjusted earnings of $4.7bn ($2.55 per share – diluted) in second quarter 2024 compared […]
Sunbelt to Acquire Maxima Power Group
(Sunbelt Solomon, 1.Aug.2024) — Sunbelt Solomon Services, a provider of customized electrical power solutions and services, announced the acquisition of Maxima Power Group. Comprised of Magna IV Engineering Inc., Power Solutions Group LLC. and Industrial Tests Inc., Maxima is a NETA accredited electrical engineering, automation solutions, and technical field services provider. […]
APA Corp. Updates on Permian Drilling, Suriname
(APA Corp., 31.Jul.2024) — APA Corporation announced its financial and operational results for the second quarter of 2024.APA reported net income attributable to common stock of $541mn, or $1.46 per diluted share. When adjusted for items that impact the comparability of results, APA’s second-quarter earnings were $434mn, or $1.17 per diluted share. Net […]