Category: USA

Cheniere and ENN Sign Long-Term LNG SPA

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(Cheniere, 26.Jun.2023) — Cheniere Energy, Inc. (NYSE American: LNG) announced that Cheniere’s subsidiary, Cheniere Marketing, LLC, has entered into a long-term liquefied natural gas (LNG) sale and purchase agreement (SPA) with ENN LNG (Singapore) Pte. Ltd., a wholly-owned subsidiary of ENN Natural Gas Co., Ltd. Under the SPA, ENN LNG […]

Venture Global LNG and SEFE Ink 20yr SPA 

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(Venture Global LNG, 22.Jun.2023) — Venture Global LNG and SEFE Securing Energy for Europe GmbH (SEFE) announced the execution of a long-term Sales and Purchase Agreement (SPA). Under the agreement, SEFE’s subsidiary, WINGAS GmbH, will purchase 2.25 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG, Venture […]

Equinor Inks LNG Purchase Agreement with Cheniere

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(Equinor, 21.Jun.2023) — Today, 21 June 2023, Equinor and Cheniere have announced a new 15-year purchase agreement of around 1.75 million tonnes of LNG per year, with half of the volume starting from 2027. This agreement brings the total volumes that Equinor has contracted with Cheniere up to around 3.5 million tonnes […]

Energy Innovations to Collaborate with Maas Energy

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(Energy Innovations, 19.Jun.2023) — Energy Innovations has received orders from Maas Energy Works for the fabrication and delivery of two Biogas Upgrading units, with joint plans for additional units thereafter. The commitment marks a significant milestone for Energy Innovations as a packager of CO-2 removal, H2S removal, and associated gas handling […]

Desert Mountain Buys Helium-bearing Gas Field

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(Desert Mountain Energy, 19.Jun.2023) â€” Desert Mountain Energy Corp. (TSXV: DME) (U.S. OTC: DMEHF) (Frankfurt: QM01) has signed a binding letter of intent to purchase the Pecos Slope West Abo Gas Field and gas gathering system located in Chaves County, New Mexico. The company will close the purchase on 30 June 2023, from a privately […]

Pamesa Group to Launch Hydrogen-Based Fuel

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(Pamesa Group, 15.Jun.2023) â€” The Pamesa Group has become the first company worldwide to use a hydrogen-based fuel to replace natural gas in its production process in partnership with eCombustible Energy. This fuel is completely free of carbon emissions. Going forward, the Pamesa Group plans to implement this fuel in all its operations. eCombustible is […]

Should Gas Resource Holders Target LNG Exports or Blue Ammonia?

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(WoodMac, 15.Jun.2023) — As Europe moves away from Russian gas and Asia reduces its dependency on coal, demand and investment in liquefied natural gas (LNG) continues to rise. But according to “Stick or twist: Should gas resource holders target LNG exports or blue ammonia?”, a new Horizons report from Wood Mackenzie, the acceleration of the energy transition […]

Patterson-UTI and NexTier Enter Merger Deal Valued at $5.4bn

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(Patterson-UTI Energy, 15.Jun.2023) — Patterson-UTI Energy, Inc. (NASDAQ: PTEN) and NexTier Oilfield Solutions Inc. (NYSE: NEX) have entered into a definitive merger agreement to combine in an all-stock merger of equals transaction. The combined company, with an enterprise value of approximately $5.4bn, will be an industry leading drilling and completions services provider with operations in […]

FlexCharging Launches EVision Managed Charging Solution

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(FlexCharging, 15.Jun.2023) — FlexCharging, a provider of Electric Vehicle (EV) managed charging, announced the release of its EV grid integration and demand response software solution, EVision. The cloud-based application enables electric utility cooperatives (co-ops) and municipal utilities to launch their own managed charging programs. Tim Ellis, Energy Resources Director at Poudre Valley REA, a […]

Phillips 66 Completes Acquisition of DCP Midstream Units

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(Phillips 66, 15.Jun.2023) — Phillips 66 (NYSE: PSX) and DCP Midstream, LP (NYSE: DCP) completed the previously announced acquisition by Phillips 66 of all the publicly held common units representing limited partner interests in DCP Midstream for $41.75 per common unit in cash at a total value of approximately $3.8bn, increasing […]

Pattern Energy Opens New Houston Location in Montrose

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(Pattern Energy, 14.Jun.2023) — Pattern Energy Group LP, a leader in renewable energy and transmission infrastructure, moved the location of its Houston office to the Montrose neighborhood. The new office, in the Montrose Collective at 888 Westheimer Road, is now home to Pattern Energy’s growing workforce of 150 employees in Houston in a space designed to […]

OCI Global Fuels First Ever Green Methanol Powered Container Vessel 

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(OCI Global, 12.Jun.2023) — OCI Global (Euronext: OCI) has announced it is fueling the first ever green methanol-powered container ship in a new partnership with A.P. Moller-Maersk. OCI will provide ISCC certified biomethanol to power the maiden voyage of Maersk’s first dual-fueled container ship, in a pioneering step towards the […]

PDVSA Bondholders Dismiss Claims Citgo-backed Notes are Invalid

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(Reuters, 6.Jun.2023) — Holders of bonds issued by Venezuelan state-owned oil company Petroleos de Venezuela that are backed by a majority stake in refiner Citgo Petroleum urged New York state’s highest court to reject claims that the bonds are invalid. Lawyers for Venezuela’s opposition, which has controlled PDVSA’s U.S. assets including Citgo since 2019 […]

Nucor Enters Into CCS Agreement with ExxonMobil

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(Nucor, 1.Jun.2023) — Nucor Corporation (NYSE: NUE) signed an agreement with ExxonMobil to capture, transport, and store carbon from the company’s direct reduced iron (DRI) plant in Convent, Louisiana. ExxonMobil will capture up to 800,000 metric tons per year of CO2 from the DRI plant and store the CO2 at an ExxonMobil-owned […]

Venture Global Closing $4.5bn Senior Secured Notes

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(Venture Global, 26.May.2023) — Venture Global LNG, Inc. closed its inaugural offering of $4,500mn aggregate principal amount of senior secured notes which have been issued in two series: (i) a series of 8.125% senior secured notes due 2028 in an aggregate principal amount of $2,250 mn (the “2028 Notes”) and (ii) a series of […]

Chevron Launches Sale of Congo Oil Assets

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(Reuters, 25.May.2023) — Chevron (CVX.N) has launched a sale process for its oil and gas assets in Congo as the U.S. energy giant continues to focus operations on newer and more profitable production, industry sources said. The Congo assets could fetch up to $1.5 billion, according to two sources close to the […]

Chevron Buys PDC Energy in $7.6bn Deal

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(Chevron, 22.May.2023) — Chevron Corporation (NYSE: CVX) announced today that it has entered into a definitive agreement with PDC Energy, Inc. (NASDAQ: PDCE) to acquire all of the outstanding shares of PDC in an all-stock transaction valued at $6.3bn, or $72 per share. Based on Chevron’s closing price on May 19, […]

DOE Announces $187mn to Accelerate Transportation Sector Electrification

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(US DOE, 19.May.2023) — The U.S. Department of Energy (DOE) announced a new $99.5mn funding opportunity in addition to the selection of 45 projects totaling $87mn to advance production of next-generation electric vehicle (EV) technologies, train the future electrified transportation workforce, and ensure the equitable deployment of clean mobility options […]

Intel Dives into the Future of Cooling

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(Intel, 19.May.2023) — Extending Moore’s Law means putting more transistors on an integrated circuit and, increasingly, adding more cores. Doing so improves performance but requires more energy. Over the past decade, Intel estimates it has saved 1,000 terawatt hours of electricity through the improvements its engineers have made to processors. These […]

Norfolk Southern Launches Rail Emissions Report [Video]

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(Norfolk Southern, 18.May.2023) — Norfolk Southern Corporation (NYSE: NSC) Thursday launched a tailored Rail Emissions Report tool for customers. The Rail Emissions Report provides customers with comprehensive data on the positive environmental impact of shipping by rail, including total carbon dioxide emissions, fuel consumption, and train miles traveled. Mode of transportation […]

Port of Corpus Christi CEO Announces Departure

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(Port of Corpus Christi, 17.May.2023) — Port of Corpus Christi Commissioners Tuesday accepted the resignation of Chief Executive Officer Sean Strawbridge, effective 2 June. Strawbridge will continue to serve as CEO until that time. An interim chief executive, as well as plans to identify a new CEO, will be announced […]

North American Gas Market to Expand by 25% Over Next Decade: WoodMac

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(WoodMac, 17.May.2023) — Near-term gas market expansion continues to be driven by global demand for US LNG exports, which will largely be supplied through continued growth in Permian associated gas and Haynesville production, according to a recent report from Wood Mackenzie. “LNG export growth will drive the market for many […]

Osaka Gas USA Buys Interest in Texas PV Project

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(Osaka Gas, 16.May.2023) ​— Osaka Gas USA Corporation (OGUSA), a wholly owned subsidiary of Osaka Gas Co., Ltd. has entered into an agreement with EE North America, LLC, a wholly owned subsidiary of European Energy A/S, to acquire a 350MW, utility-scale solar project in Texas. This mid-stage solar farm will have a […]

Citgo Reports First Quarter 2023 Results

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(Citgo, 10.May.2023) — Citgo Petroleum Corporation reported its 2023 first quarter financial and operational results. Favorable refining margins and product yields combined with strong asset reliability contributed to first quarter net income of $937mn and EBITDA of $1.4bn, compared with net income of $806mn and EBITDA of $1.2bn for the fourth quarter of 2022. Highlights: […]

Occidental Announces 1Q:23 Results

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(Oxy, 9.May.2023) — Occidental (NYSE: OXY) announced net income attributable to common stockholders for the first quarter of 2023 of $983mn, or $1.00 per diluted share, and adjusted income attributable to common stockholders of $1.1bn, or $1.09 per diluted share.  Highlights: Strong operational performance drove cash flow from operations of $2.9bn […]

Sempra on 1Q:23 Earnings Results [PDF Download]

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(Sempra, 4.May.2023) — Sempra (NYSE: SRE) (BMV: SRE) today announced first-quarter 2023 earnings of $969mn, or $3.07 per diluted share, compared to first-quarter 2022 earnings of $612mn, or $1.93 per diluted share. On an adjusted basis, the company’s first-quarter 2023 earnings were $922mn, or $2.92 per diluted share, compared to $924mn, or $2.91 per diluted share, in 2022.  “At Sempra, our strategy is […]

Enbridge on Tolling Deal on Mainline Liquids System

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(Enbridge, 4.May.2023) — Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) announced that it has reached an agreement in principle on a negotiated settlement (the settlement) with shippers for incentive tolls on its Mainline liquids system, which moves over 3 million barrels a day of crude oil and liquids […]

AES On Track to Meet 2023 Guidance

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(AES, 4.May.2023) — The AES Corporation (NYSE: AES) reported financial results for the quarter ended March 31, 2023. Highlights: Strategic Accomplishments On track to complete 2023 construction projects of more than 3 GW of renewablesAES Ohio signed a comprehensive settlement for its Electric Security Plan (ESP4), providing the regulatory foundation necessary to drive […]

Marathon Reports 1Q:23 Results

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(Marathon, 3.May.2023) — Marathon Oil Corporation (NYSE: MRO) reported first quarter 2023 net income of $417mn or $0.66 per diluted share, which includes the impact of certain items not typically represented in analysts’ earnings estimates and that would otherwise affect comparability of results. Adjusted net income was $420mn or $0.67 per diluted share. Net operating cash flow was $865mn or $942 million before […]

Tellurian Reports Weak 1Q:23 Financial Results [PDF Download]

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(Tellurian, 3.May.2023) — Tellurian Inc. (NYSE American: TELL) continued making progress on Driftwood LNG phase one construction, added to natural gas acreage, production and sales, and repaid $166.7mn in principal balance of borrowing obligations in the first quarter 2023. Subsequent to the quarter end, Tellurian also advanced Driftwood project funding […]

Nacero to Submit Part II Application for Texas SAF Facility

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(Nacero, 5.May.2023) — Nacero, Inc. announced that its Nacero TX subsidiary has been invited by the U.S. Department of Energy (DOE) to submit a Part II application for a loan guarantee through the Loan Programs Office’s (LPO) Title XVII Innovative Clean Energy Loan Program for 75% of the capital needed for its […]

Vespene and Viridi Launch Pilot Using Landfill Methane Emissions

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(Vespene, 2.May.2023) — Vespene Energy, a biogas renewable energy developer, and Viridi Energy, a full-service renewable natural gas (RNG) platform, today announced the launch of their first joint pilot site with a municipal landfill in Marathon County, Wisconsin. Vespene and Viridi are using highly-efficient energy generation equipment to convert the naturally […]

bp’s First Quarter 2023 Results [PDF Downloads]

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(bp, 2.May.2023) — bp reported strong financial results in the first quarter of 2023 and the underlying replacement cost profit for the quarter was $5bn, compared with $4.8bn for the previous quarter. Highlights Underlying replacement cost profit* $5bn Underlying replacement cost profit for the quarter was $5bn, compared with $4.8bn […]

Alaska Airlines and ZeroAvia Developing Zero-emission Aircraft

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(ZeroAvia, 1.May.2023) — Alaska Airlines presented a Bombardier Q400 regional turboprop to ZeroAvia that will be retrofitted with a hydrogen-electric propulsion system in an effort to expand the reach and applicability of zero emissions flight technology. At an event, held at ZeroAvia’s Paine Field research and development site, the companies were joined […]

Fitch Affirms Freeport LNG Investments, LLLP of ‘B-‘

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(Fitch Ratings, 1.May.2023) — Fitch Ratings has affirmed Freeport LNG Investments, LLLP‘s (FLNGI) Long-Term Issuer Default Rating (IDR) at ‘B-‘ and secured debt rating at ‘B’/’RR3’. The ratings were removed from Rating Watch Negative (RWN) where they were placed on 22 June 2022 and assigned a Negative Rating Outlook. The RWN resolution […]

EAI’s NRGBriefs: Apr. 2023

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(Energy Analytics Institute, 30.Apr.2023) — Energy briefs as well as others related to finance and politics during April 2023 including the US not blocking the court-ordered sale of shares of Citgo Petroleum Corp.’s parent company, PDV Holding, to pay off creditors who have sought payment from the Venezuelan state; OFAC authorizing […]

Venture Global Inks 20-Year LNG SPA with JERA Co.

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(Venture Global, 28.Apr.2023) — Today, Venture Global LNG announced the execution of a long-term Sales and Purchase Agreement (SPA) with JERA Co., Inc. for the sale of 1 million tonnes per annum (MTPA) of liquefied natural gas (LNG) from CP2 LNG for 20 years. CP2 LNG is Venture Global’s third […]

Glenfarne Energy’s Texas LNG Receives Order on Remand from FERC

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(Texas LNG, 24.Apr.2023) — Texas LNG, a four million tonnes per annum (“mtpa”) liquefied natural gas (LNG) export terminal to be constructed in the Port of Brownsville, Texas, owned by Texas LNG Brownsville LLC, an affiliate of Glenfarne Energy Transition, LLC, a global energy transition leader providing critical solutions to lower […]

Nucor Reports 1Q:23 Results

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(Nucor, 20.Apr.2023) — Nucor Corporation (NYSE: NUE) announced net earnings attributable to Nucor stockholders of $1.14bn, or $4.45 per diluted share, for the first quarter of 2023. By comparison, Nucor reported net earnings attributable to Nucor stockholders of $1.26bn, or $4.89 per diluted share, for the fourth quarter of 2022 and $2.10bn, or $7.67 per diluted share, for the […]