Category: USA

Major Integrated to Sell Unused Energy Assets on AllSurplus Marketplace

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(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

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(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 NicolĂĄs 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

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(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. ____________________

Exxon Sees 2050 Oil Use at Current Level, Despite Net Zero Goal

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(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

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(EVLO, 20.Aug.2024) — EVLO Energy Storage Inc., a fully integrated battery energy storage system (BESS) provider and wholly owned subsidiary of Hydro-QuĂ©bec, 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. […]

Petronet LNG Selects Lummus’ Novolen Technology for New, Large-Scale Plant in India

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(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’ NovolenŸ 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

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(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

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(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 Dodhylexℱ Active

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(FMC, 20.Aug.2024) — FMC Corporation, an agricultural sciences company, recently submitted regulatory applications for Dodhylexℱ 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 Dodhylexℱ active are […]

Oxy on Continued Progress on Debt Reduction, Divestiture Initiatives

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(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

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(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

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(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 […]

NASA Funds Research Projects Advancing STEM Career Development

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(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

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(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

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(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

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(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 […]

Chevron Starts Production at Anchor in US GOM

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(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

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(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 […]

Rice’s Baker Institute unveils Argentina Energy Sector Initiative

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(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

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(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

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(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

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(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

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(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

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(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

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(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

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(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

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(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

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(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 

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(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 […]

Sunbelt to Acquire Maxima Power Group

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(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. […]

bp Gives Go-ahead for 6th Operated Hub, Kaskida, in the US GOM

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(bp, 30.Jul.2024) — bp has taken a final investment decision on the Kaskida project in the US Gulf of Mexico. This demonstrates bp’s long-term commitment to deliver secure, affordable and reliable energy.  Kaskida will be bp’s sixth hub in the Gulf of Mexico, featuring a new floating production platform with the […]

bp’s 2Q:24 results, Kaskida FID

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(bp, 30.Jul.2024) — “Our businesses continue to operate safely and efficiently. We are driving focus across the business and reducing costs, all while building momentum in our drive to 2025. Our recent go-ahead of the Kaskida development in the Gulf of Mexico business, and decision to take full ownership of bp […]

TotalEnergies Reports 2Q:24 Results, Eyes Suriname Block 58 FID

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(TotalEnergies, 25.Jul.2024) —The Board of Directors of TotalEnergies SE, chaired by CEO Patrick PouyannĂ©, met on 24 July 2024, to approve the second quarter 2024 financial statements. On the occasion, Patrick PouyannĂ© said: “TotalEnergies generated robust financial results in the second quarter, with adjusted net income of $4.7bn and cash […]

Repsol Reveals New Share Buyback, Updates on Venezuela

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(Repsol, 26.Jul.2024) — Repsol posted net income of €1.626bn in the first half of 2024, up 14.5%, a period marked by the presentation and implementation of the 2024-2027 Strategic Update, which prioritizes shareholder remuneration and continuing financial strength, and consolidates the company’s multi-energy commitment. Repsol announced today a new share buyback and […]

Noble and Diamond Offshore Provide Transaction Update

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(Noble, 25.Jul.2024) — Noble Corporation plc and Diamond Offshore Drilling, Inc. announced that the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, in relation to the pending merger between Noble and Diamond, expired at 11:59 ET on 24 July 2024.  Completion of the transaction is subject to the satisfaction […]

Ecovyst Makes Equity Investment in Pajarito Powder

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(Ecoyvst, 25.Jul.2024) — Ecovyst Inc. announced a key equity investment of $4.5mn in Pajarito Powder, an innovative materials science company that specializes in supports and catalysts required for electrolyzers and fuel cells. This investment in Pajarito Powder reflects Ecovyst’s belief that hydrogen produced via electrolysis will become a widely used, low-carbon fuel for […]

Core Lab Reports 2Q:24 Results

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(Core Lab, 24.Jul.2024) — Core Laboratories Inc. reported second quarter 2024 revenue of $130,600,000.  Core’s operating income was $16,000,000, with diluted earnings per share (“EPS”) of $0.19, all in accordance with U.S. generally accepted accounting principles (“GAAP”). Operating income, ex-items, a non-GAAP financial measure, was $16,400,000, yielding operating margins of 13%, expanding over 100 basis […]

Port of Corpus Christi Reports 2Q:24 Volumes

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(The Port of Corpus Christi, 23.Jul.2024) —The Port of Corpus Christi customers moved 50.1 million tons through the Corpus Christi Ship Channel in the second quarter of 2024, a 1.7% increase over the same period in 2023. In Q2 2024, the Port of Corpus Christi saw increases in crude oil, […]

Flowserve Acquires LNG Pumping Technology from NexGen Cryo

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(Flowserve, 23.Jul.2024) — Flowserve Corporation acquired the intellectual property and in-process R&D related to cryogenic Liquefied Natural Gas (LNG) submerged pump technology, systems and packaging from NexGen Cryogenic Solutions, Inc., a privately held, Arizona-based company specialized in the engineering, design and testing of LNG pumps and turbines. NexGen Cryo’s pump […]

Glenfarne and EQT Execute Binding LNG Tolling Agreement

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(Glenfarne, 23.Jul.2024) — Texas LNG Brownsville LLC, a four million tonnes per annum (mtpa) liquefied natural gas (LNG) export terminal to be constructed in the Port of Brownsville, Texas, and a subsidiary of Glenfarne Energy Transition, LLC, and EQT Corporation have executed a definitive 20-year tolling agreement for natural gas […]