USA Archives - Page 22 of 59 - Energy Analytics Institute (EAI)

Expiration of US Oil License to Venezuela to Impose a Ceiling on Output Growth

(Reuters, 17.Apr.2024) — The expiration of the widest U.S. license so far granted to Venezuela’s oil and gas industry will put a ceiling on the South American country’s slow crude production growth unless Washington grants enough individual authorizations to compensate, according to analysts and experts. Washington officials said on Wednesday the license […]

June Deadline set for Citgo Auction Bids

(Argus, 17.Apr.2024) — Bidders for Citgo‘s US refining assets have until 11 June to submit offers for the company’s 805,000 b/d of refining capacity and associated assets, with a tentative sale hearing set for 15 July. Documents filed Tuesday in the US District Court for the District of Delaware set […]

OFAC Issues GL44A to Replace GL44 in Venezuela

(Energy Analytics Institute, 17.Apr.2024) — The U.S. Office of Foreign Assets Control (OFAC) issued General License 44A, which supersedes and replaces General License 44, and authorizes the wind down of transactions related to oil or gas sector operations in Venezuela. ____________________ By Piero Stewart. © Energy Analytics Institute (EAI). All […]

Negotiations Fail to Renew Venezuela Sanctions Relief License

(S&P Global, 17.Apr.2024) — A few hours before the expiration of a temporary oil and gas sanctions relief license, the governments of Venezuela and the United States continue to negotiate without success its renewal under the requirement of holding competitive presidential elections on July 28, Venezuelan officials said. “Today at […]

Infinium and Kinetik Reach Innovative CO2 Utilization Deal

(Infinium, 16.Apr.2024) — Infinium, has reached an agreement with a subsidiary of midstream energy company Kinetik Holdings Inc. (NYSE: KNTK) to purchase carbon dioxide (“CO2”) captured from Kinetik’s gas gathering and processing system in the Permian Basin for use as a feedstock in the production of ultra-low carbon electrofuels (“eFuels”). Infinium […]

KBR and GeoLith to Offer Zero-Emission Lithium Technology Globally

(KBR, 15.Apr.2024) — KBR (NYSE: KBR) has signed an alliance agreement with GeoLith SAS to offer its advanced Direct Lithium Extraction (DLE) technology, Li-Capt®. This technology enables zero-emission lithium extraction from untapped sources like geothermal and oil well brines. Under the terms of the agreement, KBR will serve as the exclusive global licensor […]

US Not to Renew Easing of Venezuela Oil Sanctions Unless Progress Made on Elections

(Reuters, 15.Apr.2024) — The U.S. will not renew a temporary license set to expire on Thursday that widely eased sanctions on Venezuela’s oil and gas sector, a State Department spokesperson said, unless progress is made by President Nicolas Maduro on commitments for free and fair elections this year. The U.S. […]

EQT Inks Non-Operated Asset Transaction with Equinor

(EQT, 15.Apr.2024) — EQT Corporation (NYSE: EQT) entered into an agreement with Equinor USA Onshore Properties Inc. and their affiliates to sell an undivided 40% interest in its non-operated natural gas assets in Northeast Pennsylvania, representing approximately 225 MMcf/d of forecasted 2025 net production. Consideration for the transaction is comprised […]

Equinor Swaps Onshore US Assets with EQT

(Equinor, 15.Apr.2024) — Equinor and EQT Corporation agreed to swap Equinor’s operated position in the Marcellus and Utica shale formations in Ohio for a stake in EQT’s non-operated interest in the Northern Marcellus formation. Under the transaction agreement, Equinor will sell 100% interest in and operatorship of its onshore asset […]

SLB Awarded Three Completion Contracts for Petrobras’ Buzios Field

(SLB, 15.Apr.2024) — SLB (NYSE: SLB) has been awarded three contracts by Petrobras (NYSE: PBR) for completion hardware and services for up to 35 subsea wells in the development of Petrobras’ offshore Buzios Wave II oilfield. The scope of the contract includes SLB’s full bore electric interval control valves and […]

Repsol Completes Construction of Frye Solar, its Largest Solar Plant in the US

(Repsol, 11.Apr.2024) — Repsol completed construction of its Frye Solar project, its largest photovoltaic plant to date, with a total installed capacity of 637 MW and 570 MW currently in operation. Located in the United States, the Frye Solar project was built near the city of Kress, Swisher County, Texas. […]

PetroTal Announces Q1 2024 Operations and Corporate Updates

(PetroTal, 11.Apr.2024) — PetroTal Corp. (TSX: TAL, AIM: PTAL and OTCQX: PTALF) announces the following operational, financial and corporate updates. All amounts are in US dollars unless stated otherwise. Q1 2024 Production PetroTal achieved average production of 18,518 barrels of oil per day (bopd) in Q1 2024, in line with guidance. […]

China Remains the Clear Energy Transition Leader

(BloombergNEF, 10.Apr.2024) — Despite posting only modest growth in 2023, China remains by far the largest market for energy transition spending, reaching $676bn in 2023, according to a report by BloombergNEF. This is 38% of the global total. The US is the second-largest funding destination for energy transition technologies, with […]

APA Corp. Updates on Executive Leadership Changes

(APA Corp., 9.Apr.2024) — APA Corporation (Nasdaq: APA) announced updates to its executive leadership team to coincide with a restructuring of its development function and the integration of the recently closed acquisition of Callon Petroleum. The changes are effective immediately. “Building on the momentum of our recently closed acquisition, we […]

Chevron Invests in Carbon Capture and Removal Technology Company, ION Clean Energy

(Chevron, 4.Apr.2024) — Chevron New Energies (CNE), a division of Chevron U.S.A. Inc., announced a lead investment in ION Clean Energy, a Boulder-based technology company that provides post-combustion point-source capture technology through its third-generation ICE-31 liquid amine system. ION raised $45mn in Series A financing led by CNE. The capital raised will continue to fund […]

Venezuelan Production with US Sanctions Not Reimposed, Reimposed: Rystad

(Rystad Energy, 4.Apr.2024) — As the deadline for US sanctions relief on Venezuela ends on 18 Apr. 2024, the outlook for the South American nation’s oil industry appears uncertain. If the US does not reimpose sanctions, Venezuela could surpass the 1 million barrels per day (bpd) threshold as early as […]

No Sun? No Big Deal

(CMS Energy, 3.Apr.2024) — In ancient times, some thought a dragon was swallowing the sun, or that it was the end of the world. These days, it’s an occasion for gawking, a scramble for the right shades and social media posting. But for Consumers Energy‘s solar power plants, next week’s […]

Phillips 66 Increases Quarterly Dividend

(Phillips 66, 3.Apr.2024) — The board of directors of Phillips 66 (NYSE: PSX) declared a quarterly dividend of $1.15 per share on Phillips 66 common stock, representing a 10% increase. The dividend is payable on 3 Jun. 2024, to shareholders of record as of the close of business on 20 […]

Maurizio Coratella Named McDermott EVP and COO

(McDermott, 2.Apr.2024) — McDermott announced Maurizio Coratella as Executive Vice President and Chief Operating Officer effective 1 May 2024. In his new role, Coratella will apply his more than three decades of industry leadership and engineering and construction expertise to continue the momentum established by the company’s growing backlog and expanding energy transition practice. He […]

Bendito Resources Pursues Strategic Acquisition of Mt. Hamilton Gold Project

(Bendito Resources, 2.Apr.2024) — Bendito Resources Inc. has entered into a Membership Interest Purchase Agreement with Waterton Nevada Splitter, LLC and Waterton Nevada Splitter II, LLC (collectively, the “Vendor”) pursuant to which Bendito will acquire (the “Transaction”) from the Vendor 100% of Mt Hamilton LLC, the owner of the Mt. Hamilton gold […]

White House Open to Ending LNG Export Pause

(Reuters, 2.Apr.2024) — U.S. officials are open to ending President Joe Biden’s pause on approvals of liquefied natural gas exports to get a Ukraine aide package passed in Congress but want to wait to see the entire proposal before making any decisions, two White House sources said on Tuesday. Biden, […]

SLB to Buy ChampionX in an All-Stock Deal

(SLB, 2.Apr.2024) — SLB (NYSE: SLB) and ChampionX Corporation (NASDAQ: CHX) today announced a definitive agreement for SLB to purchase ChampionX in an all-stock transaction. The agreement was unanimously approved by the ChampionX board of directors. Highlights: Acquisition strengthens SLB as a leader in production space, with world-class production chemicals […]

Desert Mountain updates on helium plant in New Mexico

(DME, 1.Apr.2024) — Desert Mountain Energy Corp. (DME) updated its shareholders on the current operational developments in New Mexico and Arizona. From the President of the Company. DME has successfully installed the necessary physical equipment for the helium processing plant in New Mexico, achieving its initial objective of becoming a […]

Phillips 66 Achieves Major Milestone in Production of Renewable Diesel

(Phillips 66, 1.Apr.2024) — Phillips 66 (NYSE: PSX) announced a major milestone in its conversion of the San Francisco refinery into the Rodeo Renewable Energy Complex, expanding commercial scale production of renewable diesel. The Rodeo Renewed project has progressed, with the facility now processing only renewable feedstocks and producing approximately […]

Noble on Changes to Share Capital Mar. 2024

(Noble, 31.Mar.2024) — Noble Corporation plc (NYSE: NE, CSE: NOBLE) announces changes to its share capital. During the period since 29 Feb. 2024, 30,833 new A ordinary shares each with a nominal value of USD 0.00001 have been issued. 216 new A ordinary shares have been issued to certain holders of […]

EAI’s NRGBriefs: March 2024

(Energy Analytics Institute, 31.Mar.2024) — Energy briefs as well as others related to finance and projects during Mar. 2024 including Argentine inflation reaching 13.2% in Feb. 2024 and trailing 12-month inflation reaching 276.2%; Petrobras saying it will not create a new reserve; NextDecade targeting a positive final investment decision (FID) […]

ABS, Sumitomo, Others to Explore Ammonia Options for US West Coast

(Sumitomo Corporation of America, 29.Mar.2024) — American Bureau of Shipping, CALAMCO, Fleet Management Limited, Sumitomo Corporation and TOTE Services, LLC announced the execution of a Memorandum of Understanding (MOU) to jointly conduct a feasibility study with the aim to be one of the pioneers in establishing a comprehensive and competitive […]

Eni Renews Membership with MIT Energy Initiative

(Eni, 26.Mar.2024) — Eni renewed its membership participation in the MIT Energy Initiative (MITEI) as a Founding Member until end of 2027, furthering its commitment to the field of low-carbon energy research. The agreement demonstrates Eni’s consideration of innovation and research as core drivers behind its short-, medium- and long-term […]

CERAWeek 2024 Boasts Delegate Attendance of 8,100+

(Energy Analytics Institute, 22.Mar.2024) — The CERAWeek by S&P Global, held 18-22 Mar. 2024 in Houston, Texas, boasted in attendance 8,100+ delegates (9,400+ when counting staff, vendors etc), a record compared to the prior record of 7,200+ delegates at CERAWeek 2023. CERAWeek counted on 1,400 speakers and tons of S&P […]

Petrobras on Remuneration Payment to Shareholders

(Petrobras, 20.Mar.2024) — Petrobras, following up on the Material Facts of 11/09/2023, 11/21/2023 and 03/13/2024, announced it will pay today the second installment of dividends relating to the balance sheet of 30 Sep. 2023. The gross amount to be distributed today is R$ 0.68864344 per common and preferred share, in […]

Decarbonisation of Steel Industry Could Hinder Circularity of Zinc

(WoodMac, 20.Mar.2024) — A recent report by ‘Wood Mackenzie Zinc Markets Service’ warns that efforts to decarbonise the steel industry through adopting Direct Reduced Iron Plant (DRI) production with green hydrogen could have significant implications for the circularity of zinc. The shift towards the use of more DRI in electric […]

Venture Global Reveals of State of the Art LNG Vessels

(Venture Global, 18.Mar.2024) — Venture Global LNG announced the acquisition and construction of a new large fleet of LNG-powered vessels. Venture Global’s fleet will include nine vessels, currently under construction in South Korea, that will be delivered starting later this year. Six vessels will have a cargo capacity of 174,000 […]

Steel Tube Institute Backs Legislation to Curb Mexican Steel Imports

(Steel Tube Institute, 14.Mar.2024) — The Steel Tube Institute (STI) – an organization that brings together key producers in the steel industry to advance the use of steel tubing – today declared its support of new legislation preventing illegal steel imports from Mexico into the United States. Senators Tom Cotton (R-Arkansas) and Sherrod […]

Nucor Reveals 1Q:24 Earnings Guidance

(Nucor, 14.Mar.2024) — Nucor Corporation (NYSE: NUE) announced guidance for its first quarter ending March 30, 2024. Nucor expects first quarter earnings to be in the range of $3.55 to $3.65 per diluted share. Nucor reported net earnings of $3.16 per diluted share in the fourth quarter of 2023 and […]

Sempra Infrastructure Launches Cimarron Wind Project

(Sempra, 14.Mar.2024) — Sempra Infrastructure, a subsidiary of Sempra (NYSE: SRE) (BMV: SRE), reached a positive final investment decision for the development, construction and operation of the Cimarron wind project, the third phase of the Energía Sierra Juarez (ESJ) wind complex. The Cimarron wind project will total approximately 320 megawatts (MW) […]

Upstream FIDs to Rise in 2024, with focus on Deepwater Resources

(WoodMac, 14.Mar.2024) — Up to 30 upstream projects larger than 50 million of barrels of oil equivalent (boe) could reach FID in 2024, an increase from 22 in 2023, according to a new report from Wood Mackenzie. The Wood Mackenzie report “Class of 2024: benchmarking this year’s upstream FIDs” states […]

NextDecade Updates on Strategic Plans for Early 2024

(NextDecade, 11.Mar.2024) — NextDecade Corporation (NASDAQ: NEXT) provided an update on developmental and strategic activities for the fourth quarter 2023 and early 2024. CEO Commentary “We are committed to maximizing long-term value for NextDecade’s shareholders by executing our business strategy efficiently and effectively,” said Matt Schatzman, NextDecade’s Chairman and Chief […]

Hess Updates Employees on Chevron Merger

(Hess, 7.Mar.2024) — Today, ExxonMobil announced that it is filing for arbitration regarding the applicability of a right of first refusal (ROFR) / pre-emption provision in the Stabroek joint operating agreement. We believe that the ROFR / pre-emption provision does not apply to the Chevron-Hess merger. We remain fully committed to […]

Upstream Scope 1 & 2 Emissions Intensity down 12% Since 2017

(Wood Mackenzie, 6.Mar.2024) — Scope 1 and 2 upstream emissions intensity has declined 12% since 2017, however, absolute emissions could plateau due to production growth, according to a new report from Wood Mackenzie. According to the report “Is upstream oil & gas delivering on decarbonisation?” Wood Mackenzie finds that while flaring […]

Exxon Signals Potential Counter Offer for Hess’s Guyana Assets

(Reuters, 6.Mar.2024) — Exxon Mobil Corp on Wednesday said it filed a contract arbitration claim related to Hess Corp‘s proposed sale of its Guyana oil properties, and suggested it may counter Chevron Corp‘s pending deal for the assets. The arbitration case seeks to preserve Exxon’s right to evaluate making a bid […]

Cheniere Prices $1.5bn Senior Notes due 2034

(Cheniere, 5.Mar.2024) — Cheniere Energy, Inc. (NYSE: LNG) priced its previously announced offering of Senior Notes due 2034. The Cheniere 2034 Notes will bear interest at a rate of 5.650% per annum. The Cheniere 2034 Notes will be issued at 99.789% of par and will mature on 15 Apr. 2034. The […]

Ecopetrol Production Averages 737 Mboe/d in 2023

(Ecopetrol, 1.Mar.2024) — Ecopetrol SA ended 2023 with strong operational results that drove achievements across the entire company. We have achieved the second-best financial results in history by following our financial planning, enhancing our traditional business, and managing the steps toward the energy transition, the company’s president Ricardo Roa Barragan said. […]

EAI’s NRGBriefs for Feb. 2024: Guyana, Mexico, Uruguay and Venezuela

HOUSTON, TEXAS (By editors with Energy Analytics Institute, 29.Feb.2024, Words: 3,790) — Energy briefs as well as others related to finance and projects during Feb. 2024 including Exxon Mobil and CNOOC considering their pre-emption rights to Hess Corp.’s stake in the offshore Stabroek Block; increases in electricity for the majority […]

Chevron Reveals First Solar-to-Hydrogen Project in California’s Central Valley

(Chevron, 29.Feb.2024) — Chevron New Energies, a division of Chevron U.S.A. Inc., is developing a 5-megawatt hydrogen production project in California’s Central Valley. The project aims to create lower carbon energy by utilizing solar power, land, and non-potable produced water from Chevron’s existing assets at the Lost Hills Oil Field […]

Exxon’s Curveball Move in Guyana Alters Chevron-Hess Deal Prospects

(Reuters, 28.Feb.2024) — Exxon Mobil‘s surprise challenge to Chevron‘s acquisition of Hess through a dispute over a stake in a major Guyana oil field could prove fruitful for the U.S. oil giant, even if it does not end up enlarging its holdings in the South American country. Exxon (XOM.N) said Monday it […]

Guyana not against Exxon acquiring Hess, VP Jagdeo says

GEORGETOWN, GUYANA (Reuters, 28.Feb.2024, Words: 95) — Guyana’s vice president Bharrat Jagdeo on Wednesday said the country will accept whatever is the result from discussions between Exxon Mobil Corp, Chevron Corp and Hess Corp regarding participation in the Stabroek block. Guyana is ready to welcome Chevron into the country, but would also accept […]

Exxon Raises Questions About Chevron’s $53bn Deal for Hess

(The New York Times, 27.Feb.2024) — America’s two largest energy companies, Exxon Mobil and Chevron, are jousting over a prized new source of oil in the waters off Guyana, in Latin America. The conflict is creating doubts over Chevron’s bid to acquire Hess for $53 billion, announced in October. Chevron this […]

Chevron Corp. Files S-4, Updates on Stabroek JOA

(Energy Analytics Institute, 26.Feb.2024) — Chevron Corporation believes that the $53bn merger with Hess Corporation presents the California-based energy giant with the opportunity to diversify its portfolio by acquiring Hess’ 30% interest offshore Guyana in the Stabroek block. The block has industry leading cash margins, a strong production growth outlook, potential […]

Concacaf and Aramco Ink Multi-year Partnership

(Aramco, 23.Feb.2024) — Concacaf has agreed to a multi-year Confederation-wide partnership with Aramco, a global integrated energy and chemicals company. Aramco will become the “Official Energy Partner” for all of Concacaf’s national teams and club competitions, beginning with the upcoming W Gold Cup, commencing today through to the Final on […]

US Lower 48 Oil Production Growth to Slow in 2024

(WoodMac, 22.Feb.2024) — US Lower 48 oil production growth exceeded expectations in 2023, adding 900,000 barrels per day (b/d) despite inflationary pressures, private consolidation, and declining rig activity. However, the repercussions of these decisions will impact supply moving forward as the region is poised for much lower growth in 2024 […]