Category: USA

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 […]

AES Outlines Long-Term Strategy for Growth in Renewables & US Utilities

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(AES, 8.May.2023) — The AES Corporation (NYSE: AES) outlined its long-term strategy for growth, including substantial growth in renewables and US utilities, and fully exiting coal by year-end 20253. Strategic Highlights Through 2027 — Expect to triple renewables capacity by adding 25 to 30 GW of solar, wind and energy storage — Investing to […]

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 […]

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 […]

Port of Corpus Christi Sees Record 1Q:23 Tonnage

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(Port of Corpus Christi, 18.Apr.2023) — The Port of Corpus Christi Authority closed its first quarter of 2023 (Q1-2023) with record tonnage of 49.6 million tons, surpassing the year-over-year (YOY) period in 2022 by more than six million tons and nudging past the previous quarterly record of 49.5 million tons […]

Avino Reports Steady Production in 1Q:23

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(Avino, 18.Apr.2023) — Avino Silver & Gold Mines Ltd. (TSX: ASM) (NYSE: ASM) (FSE: GV6) reports another quarter of strong production results of 678,247 silver equivalent ounces, bringing the 12-month trailing total to 2.9 million silver equivalent ounces from the Avino Mine. Production Highlights – Q1 2023 (Compared to Q1 2022) Silver equivalent production […]

ForeFront Power and HASI Expand Equity Investment Across California

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(ForeFront Power, 18.Apr.2023) — ForeFront Power, a developer and asset manager of commercial and industrial-scale (C&I) solar energy and battery storage projects, and HASI (NYSE: HASI), an investor in climate solutions, have entered into a follow-on equity investment for a portfolio of distributed solar and solar-plus-storage projects located across California. The transaction, […]

Venture Global Raises Roof of Second Plaquemines Storage Tank

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(Venture Global, 17.Apr.2023) — Venture Global LNG announced the successful raising of the roof of the second LNG storage tank at the Plaquemines LNG export facility in Plaquemines Parish, Louisiana. This major project milestone was completed ahead of schedule and comes just seven weeks after the roof raising for tank […]

CSI Compressco on Cash Distribution, 1Q:23 Webcast

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(CSI Compressco, 17.Apr.2023) — CSI Compressco LP (NASDAQ: CCLP) announced today that the board of directors of its general partner has declared a cash distribution attributable to the quarter ended 31 March 2023 of $0.01 per outstanding common unit, or $0.04 per outstanding common unit on an annualized basis. This cash distribution will be paid on 15 May 2023 to […]

bp Starts Oil Production at Argos Platform in the Gulf of Mexico

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(bp, 13.Apr.2023) — bp has successfully started oil production at its Argos offshore platform, delivering more energy at a critical time and strengthening bp’s position as a leading producer in the deepwater US Gulf of Mexico. With a gross production capacity of up to 140,000 barrels of oil per day, Argos is […]

GSI Enhances Renewable Platform with Saturn Power Acquisition

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(GSI, 13.Apr.2023) — Greenwood Sustainable Infrastructure (GSI), the North American renewable energy subsidiary of Libra Group, has announced the strategic acquisition of the solar and battery development portfolios of Saturn Power, including its team of seasoned developers and an approximate 1.4-gigawatt (GW) pipeline of early to late-stage solar and energy storage projects in five U.S. states […]

Greenwood Sustainable Infrastructure (GSI) Acquires Saturn Power

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(Greenwood Sustainable Infrastructure, 13.Apr.2023) — Greenwood Sustainable Infrastructure (GSI), the North American renewable energy subsidiary of Libra Group, has announced the strategic acquisition of the solar and battery development portfolios of Saturn Power, including its team of seasoned developers and an approximate 1.4-gigawatt (GW) pipeline of early to late-stage solar and energy storage projects in five […]

Chipotle Pilots New Responsible Restaurant, Launches Sustainability Campaign

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(Chipotle, 11.Apr.2023) — Chipotle Mexican Grill (NYSE: CMG) today announced a new all electric restaurant design that works to maximize energy efficiency in its equipment and systems and utilizes 100% renewable energy from wind power and solar through the purchase of certified renewable energy credits. The company recently opened restaurants with the new […]

Tellurian Enters into Material Definitive Agreement

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(Tellurian, 6.Apr.2023) — On 4 April, 2023, Tellurian Inc. entered into a binding letter of intent (the “LOI”) with a New York-based institutional investor with approximately $120bn in assets under management regarding the sale and leaseback of approximately 800 acres of land owned and/or leased by Driftwood LNG LLC, a […]

Collaborating for Clean Energy at Toyota’s North Alabama Engine Plant

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(Toyota, 5.Apr.2023) — More than 70 percent of Toyota Motor Manufacturing, Alabama’s power will soon be generated by the sun. Today, Huntsville Utilities, Toyota Alabama and Toyota Tsusho America, Inc. (TAI) announced a power purchase agreement (PPA) to support a 168-acre, $49mn solar project. The 30-megawatt solar-generated system will be located in the North Huntsville Industrial […]

Riley Permian Closes New Mexico Acquisition

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(Riley Exploration, 4.Apr.2023) — Riley Exploration Permian, Inc. (NYSE American: REPX) completed its previously announced acquisition of New Mexico oil and natural gas assets from Pecos Oil & Gas, LLC, an affiliate of Cibolo Energy Partners LLC. Consideration for the New Mexico acquisition was $330mn before customary purchase price adjustments. In conjunction with the […]

BidOut Reveals American Energy Management Partnership

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(BidOut, 3.Apr.2023) — Virtually every sector has experienced supply chain disruptions and the oil and gas industry is no exception. One company, BidOut, has developed a solution to streamline those disruptions and has added American Energy Management as a client. BidOut is the leading SaaS procurement platform for oil and […]

Noble Announces Changes to Share Capital

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(Noble, 31.Mar.2023) — Noble Corporation plc (CSE: NOBLE, NYSE: NE) today announces changes to its share capital. During the period since February 28, 2023, 3,776,358 new A ordinary shares each with a nominal value of USD 0.00001 have been issued. 3,771,978 new A ordinary shares have been issued to certain […]

Forbes Names TechnipFMC in its World’s Top 400 Female-Friendly Companies List

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(TechnipFMC, 31.Mar.2023) — TechnipFMC was recognized by Forbes as one of the World’s Top 400 Female-Friendly Companies in 2022 in an independent study conducted in partnership with market research company Statista. To compile this ranking, Statista surveyed around 85,000 women working at multinational institutions in 36 countries. Its analysts sifted […]

Global Gas Flaring Tracker Report [PDF Download]

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(The World Bank, 31.Mar.2023) — After a decade of little progress, global gas flaring volumes fell by around 3% in 2022. However, despite this welcome reduction, greater and sustained efforts are needed to end this wasteful and polluting practice. The growing sense of urgency in tackling global gas flaring is […]