(Holland & Knight, 14.Nov.2022) â Holland & Knight announced a nationally recognized team of nine partners with extensive experience in the energy industry have joined the firm from Eversheds. The team is led by energy and renewables partner Ram Sunkara in Houston and tax partner Amish Shah in Washington, D.C. The group also includes […]
Category: USA
ENGIE Energy to Establish New Class of Technology-based Carbon Credits
(ENGIE Energy Marketing, 11.Nov.2022) â ENGIE Energy Marketing NA, Inc (EEMNA), a subsidiary of ENGIE North America, announces it will develop a framework and marketing platform for sourcing measured Sequestrated Carbon in establishing a new class of differentiated technology-based Carbon Credits. Key Highlights: ENGIE Energy Marketing NA, Inc and BKV Corporation […]
Citgo Announces 3Q:22 Financial Results
(Citgo, 10.Nov.2022) â Citgo Petroleum Corporation reported 2022 third quarter net income of $477mn and EBITDA of $804mn, compared to net income of $1.29bn and EBITDA of $1.86bn in the second quarter of 2022. Highlights: Reported third quarter net income of $477mn and EBITDA 1 of $804mn Continued strong health, safety and environmental performance Successful and safe turnaround execution and start-up at the […]
Citgo Holdings Offers to Acquire up to $237.4mn of its Senior Notes Due 2024
(Citgo, 10.Nov.2022) â Citgo Holding, Inc., a Delaware corporation, announced its offer to purchasefor cash an aggregate principal amount of up to $237.391mn (the “Excess Cash Flow Offer Amount”) of its 9.25% Senior Secured Notes due 2024 at a purchase price equal to 100% of the principal amount of the Notes to be […]
Maxeon Solar Technologies Reveals 3Q:22 Financial Results
(Maxeon Solar, 10.Nov.2022) â Maxeon Solar Technologies, Ltd. (NASDAQ: MAXN) announced its financial results for the third quarter ended 2 October 2022. Maxeon’s Interim Chief Executive Officer Mark Babcock noted, “Maxeon delivered Q3 financial results consistent with guidance and achieved key strategic milestones in both our distributed generation (DG) and utility-scale businesses. In Europe, DG […]
Occidental Reveals 3Q:22 Results
(Oxy, 8.Nov.2022) â Occidental (NYSE: OXY) announced net income attributable to common stockholders for the third quarter of 2022 of $2.5bn, or $2.52 per diluted share, and adjusted income attributable to common stockholders of $2.5bn, or $2.44 per diluted share. This is compared to net income attributable to common stockholders […]
AES Sees FY:22 Adj. EPS at or Near High End of Guidance Range
(AES, 4.Nov.2022) â The AES Corporation (NYSE: AES) today reported financial results for the quarter ended September 30, 2022. “With our strong year-to-date performance, we now expect our full year Adjusted EPS1 to come in at or near the high end of our guidance range of $1.55 to $1.65. Our renewables business continues to grow, and […]
Enel Américas S.A. to File Form 15F with the US SEC
(Enel AmĂ©ricas S.A., 2.Nov.2022) â Enel AmĂ©ricas S.A. intends to file Form 15F with the U.S. Securities and Exchange Commission (SEC) today to voluntarily deregister from Section 12(g) of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”), and terminate its reporting obligations under Section 13(a) and […]
QatarEnergy and ExxonMobil to Independently Market Golden Pass LNG
(ExxonMobil, 27.Oct.2022) â QatarEnergy and ExxonMobil agreed to independently market LNG produced at their joint venture Golden Pass LNG Terminal in Sabine Pass, Texas. By leveraging their unique customer insights, QatarEnergy and ExxonMobil will better serve their downstream customers while meeting increased global demand. Highlights: ExxonMobil will market 30% of […]
Whoâs to Blame for Exorbitant Natural Gas Prices in Europe?
(Baker Institute, 26.Oct.2022) â Prices of natural gas in Europe have skyrocketed to levels scarcely seen before 2021. European governments, especially those soon up for reelection, are understandably concerned about the future. That future is undermined by the economic hardship being caused by high energy prices. Not surprisingly, there is […]
Hess Reports Estimated 3Q:22 Results
(Hess, 26.Oct.2022) â Hess Corporation (NYSE: HES) reported net income of $515mn, or $1.67 per common share, in the third quarter of 2022, compared with net income of $115mn, or $0.37 per common share, in the third quarter of 2021. On an adjusted basis, the corporation had net income of […]
U.N. Could Administer Over $3bn in Funds to Aid Venezuela
(Reuters, 25.Oct.2022) â Top officials from the U.S. State and Treasury departments are discussing proposals for a fund that could release over $3 billion to provide humanitarian aid to Venezuelans through the United Nations, according to nine people close to the talks. The proposals offer a potential way to revive […]
Schlumberger Becomes SLB, a Technology Company
(Schlumberger, 24.Oct.2022) â Schlumberger (NYSE: SLB) announced its new nameâSLBâunderscoring the companyâs vision for a decarbonized energy future and affirming its transformation from the worldâs largest oilfield services company to a global technology company focused on driving energy innovation for a balanced planet. Beginning today, the legacy Schlumberger brand and […]
Washington Eyes Oil Deal with Maduro Regime: Rystad Energy
(Rystad, 24.Oct.2022) â As the supply side of the oil business continues to tighten globally, calls within the US to ease sanctions on what was once one of Latin Americaâs largest oil producers continue to gain traction. The Biden administration has been putting out smoke signals to the wider market […]
Schlumberger Reveals 3Q:22 Operating, Financial Results
(Schlumberger, 21.Oct.2022) â Schlumberger Limited (NYSE: SLB) announced results for the third-quarter 2022. ____________________
ExxonMobil to Divest Billings Refinery to Par Pacific Holdings
(ExxonMobil, 20.Oct.2022) â ExxonMobil and its affiliates have reached an agreement with Par Pacific Holdings for the sale of the Billings refinery and select midstream assets in Montana and Washington. –Sale includes refinery, associated pipelines and product terminals –Exxon- and Mobil-branded service stations network supplied through long-term brand agreement The […]
Schlumberger and RTI to Accelerate Carbon Capture Technology
(Schlumberger, 17.Oct.2022) â Schlumberger entered into an agreement with RTI International, a nonprofit research institute, to accelerate the industrialization and scale-up of its proprietary non-aqueous solvent (NAS) technology, which enhances the efficiency of absorption-based carbon capture. The NAS technology will be applicable to capture CO2Â across a broad variety of industrial […]
Uranium Energy Completes Acquisition of Uranium Project From Rio Tinto
(Uranium Energy, 17.Oct.2022) â Uranium Energy Corp (NYSE American: UEC) completed its previously announced acquisition of the Roughrider uranium development project located in the Athabasca Basin in Saskatchewan, Canada (the âTransactionâ) from a subsidiary of Rio Tinto plc. Under the terms of the Transaction, Rio Tinto has now received $80mn […]
2022 Default Tally Inches Past Year-To-Date 2021
(S&P Global Ratings, 17.Oct.2022) â After a slow start to the year, the global corporate default tally reached 61 in 2022–one higher than in year-to-date 2021, said S&P Global Ratings in its article published today, “2022 Defaults Inch Past Year-To-Date 2021 Tally As Credit Conditions Worsen.” We can expect the […]
Enhancing the US-UK Sanctions Partnership
(US Treasury, 17.Oct.2022) â As Directors of two of the worldâs leading financial sanctions implementation authorities, we are committed to our close working relationship. As a testament to this ongoing commitment, on Thursday, 13 October 2022, OFAC and OFSI concluded a multi-day technical exchange in London between our two offices. […]
Citgo Participates in Illinois Chamber Future of Energy Panel
(Citgo, 12.Oct.2022) â Citgo Vice President of Strategic and Corporate Planning Balvy Bhogal-Mitro took part in a world-class panel discussion on the Future of Energy at the Illinois Chamber of Commerce Annual Meeting in Chicago last Thursday. Keynote panel participants focused on energy sustainability and what the future of energy will look like in Illinois. Bhogal-Mitro, who […]
TGI Reveals Partial Tender Offer Results
(TGI, 11.Oct.2022) â Transportadora de Gas Internacional S.A. E.S.P. announced early tender results in connection with its previously announced partial cash tender offer for up to U.S.$150,000,000Â in aggregate principal amount (the “Maximum Tender Amount“) of its outstanding 5.550% Senior Notes due 2028Â (CUSIP: 89387Y AC5 (144A) / P93077 AC2 (REG S) […]
NGC Inks PSA with Gulf Coast Methanol 1
(NGC, 11.Oct.2022) â NGC Petrochemicals Limited (NPL), a subsidiary of The National Gas Company of Trinidad and Tobago Limited (NGC), completed negotiations with Gulf Coast Methanol 1, LLC and its parent IGP Methanol LLC of the USA, for a Purchase and Sales Agreement that will allow NGC to acquire blue methanol from IGPâs Gulf […]
Ecopetrol and Citgo Transaction to Offset Carbon
(Citgo, 10.Oct.2022) â A carbon compensated crude oil cargo sold by Ecopetrol and purchased by Citgo Petroleum Corporation is currently making its way to the Citgo Corpus Christi refinery for processing. The recent transaction supports Ecopetrol’s objectives on energy transition and decarbonization. The 500,000 barrel cargo of Ecopetrol Castilla BlendÂź […]
Wintershall Dea Investing in Hydrogen Storage and Transportation Start-up
(Wintershall Dea, 10.Oct.2022) â As part of its efforts to position itself along the hydrogen and CO2Â value chains, Wintershall Dea is investing in a promising new technology for storing and transporting hydrogen developed by the Dresden-based start-up AMBARtec AG. In the latterâs recent funding round, Wintershall Dea became the start-upâs […]
What OPEC’s 2 MMbbl Cut Could Mean for US Gas Prices
(By Ben Geman, Axios, 5.Oct.2022) â OPEC+ is jolting oil markets this week with plans to cut output â and the ripples could reach all the way to the U.S. midterm elections. Driving the news: The coalition of OPEC, Russia and allied producers on Wednesday announced cuts of 2 million barrels […]
Citgo Names Kresha Sivinski New VP of Human Resources and Support Services
(Citgo, 3.Oct.2022) â Citgo Petroleum Corporation recently named Kresha Sivinski the Company’s newly established Vice President of Human Resources and Support Services, where she will oversee corporate human resources, aviation and corporate services functions. Sivinski joined the Citgo Lake Charles, La. refinery after graduating with a bachelor’s degree in Civil Engineering […]
Energy Analytics Institute’s NRGBriefs: September 2022
(Energy Analytics Institute, 30.Sep.2022) â Energy briefs as well as others related to finance and politics during September 2022 including EXMAR closing the sale of the floating liquefaction barge Tango FLNG to Eni; the Venezuelan government officially regaining control of the petrochemical company MonĂłmeros, a subsidiary of the state-owned PDVSA; […]
Vaca Muerta Shale Day in Houston 2022
(IAPG, 27.Sep.2022) â Since its first wells more than ten years ago, Argentinaâs Vaca Muerta has come a long way to become the most relevant shale play outside North America. Full development has become a reality and production from Vaca Muerta now represents 41% of Argentinaâs oil production and 38% […]
Tellurian Terminates Two SPAs
(Tellurian, 23.Sep.2022) â Tellurian Inc. (NYSE American: TELL) announced that it has updated its Driftwood LNG financing strategy to prioritize securing equity partners. Part of this strategy includes introducing flexibility in its liquefied natural gas portfolio with the termination of two current sales and purchase agreements. President and CEO OctĂĄvio […]
Magnolia Oil & Gas Mourns Passing of Former Chairman Stephen Chazen
(Magnolia Oil & Gas, 23.Sep.2022) â It is with great sadness that Magnolia Oil & Gas Corporation (NYSE: MGY) mourns the passing of former Chairman, President and Chief Executive Officer, Stephen Chazen. On behalf of the entire Magnolia team, Chris Stavros, President and Chief Executive Officer, said, âWe are greatly […]
APA Corp. Engages GHD for Third-party Emissions Verification
(APA, 22.Sep.2022) â APA Corporation (Nasdaq: APA) announced engagement of GHD, a privately-owned global professional services company specializing in the implementation and verification of sustainability projects. This engagement underpins APAâs commitment to protecting the environment, which includes an all employee compensation-linked goal announced earlier this year to eliminate at least […]
US Senators Want Secondary Sanctions on Russian Oil
(ArabNews, 21.Sep.2022) â Democratic and Republican senators on Tuesday proposed that US President Joe Bidenâs administration use secondary sanctions on international banks to strengthen a price cap the Group of Seven countries plan to impose on Russian oil over Moscowâs invasion of Ukraine. Democratic Senator Chris Van Hollen and Republican […]
Starwood Energy and energyRe Launch Radial Power
(energyRe, 21.Sep.2022) â Starwood Energy Group Global, LLC and energyRe LLC announced the launch of Radial Power, LLC. Radial Power will seek to deliver best-in-class portfolio-wide distributed clean energy solutions to large real estate and C&I asset owners, while unlocking revenues from underutilized real estate, delivering cost savings, and helping […]
New Nucor Steel Plate Mill Pursuing LEED v4 Certification
(Nucor, 20.Sep.2022) â Nucor Corporation ( NYSE: NUE) announced that the new steel plate mill being built in Brandenburg, Kentucky has publicly registered to pursue LEED v4 for Building and Design certification. Nucor Steel Brandenburg is the first steel mill in the world to pursue certification under LEED v4, which is more stringent than […]
Tellurian Plunges After Axing $1bn Bond for LNG Plant
(Bloomberg, 19.Sep.2022) â Tellurian Inc. withdrew a $1 billion high-yield bond sale, leaving the future of its US natural gas export project in limbo. The stock plunged more than 24%. Citing uncertainty in the junk-bond market, the Houston-based company halted the offering of senior secured notes and warrants on Monday. Tellurian had […]
Whistler Pipeline Reveals New JV Pipeline with Cheniere
(WhiteWater, 19.Sep.2022) â WhiteWater Midstream, LLC announced that subsidiaries of Whistler Pipeline, LLC and Cheniere Energy, Inc. (NYSE American: LNG) executed agreements to move forward with the construction of the ADCC Pipeline, which is a new joint venture 42-inch pipeline that is expected to extend approximately 43 miles from the […]
Seaspan Updates on Dual-Fuel LNG Newbuilds Orders
(Energy Analytics Institute, 15.Sep.2022) â Seaspan Corporation, a wholly-owned subsidiary of Atlas Corp. ( NYSE: ATCO), revealed details related to Atlasâ 17 May 2022 press statement regarding contracts for four 7,700 TEU dual-fuel LNG containership newbuildings, subject to certain closing conditions. âDue to certain conditions in the contracts not being […]
Air Liquide Joins Fight Against Climate Change
(Air Liquide, 15.Sep.2022) â As a sign of the success of our efforts, Air Liquide has been awarded by the CDP (former Carbon Disclosure Project), with an “A-” rating in two categories, climate change and water management. This score recognizes the highest level (“Leadership Level”) of the Group’s commitment to […]
Trinidad PM Rowley Engages in Energy Talks with US VP Harris
(Office of the PM of Trinidad and Tobago, 15.Sep.2022) â Prime Minister Dr the Hon. Keith Rowley joined other regional leaders at a meeting with US Vice President, Kamala Harris today (Thursday 15 September, 2022) in Washington, DC. The CARICOM leaders had open discussions with Vice President Harris on matters […]
US Energy Development Corp. Buys Permian Assets
(US Energy, 13.Sep.2022) â US Energy Development Corporation, an exploration and production (E&P) company focused on the development of energy projects throughout North America, announced the acquisition of three separate asset packages totaling more than $60mn in the core of the Permian/Delaware Basin region. The new acquisitions involve partnering with […]
Voltus Helps Prevent Blackouts During Californiaâs Heat Wave
(Voltus, 13.Sep.2022) â Voltus, Inc., a distributed energy resource (DER) software platform, today announced its efforts to support the California Independent System Operator (âCAISOâ) during the record-breaking September heat wave. Across more than 80 discrete events between 31 August and 9 September, Voltus dispatched its entire portfolio, comprising nearly 430 […]
Llano-6 Well, Gulf of Mexico, Achieves First Production
(Hess, 13.Sep.2022) â The Llano-6 well in the Gulf of Mexico delivered first production on 4 Augustm 2022. The well is a tieback to Shellâs Auger facility. This latest achievement builds upon Hess’ Gulf of Mexico (GoM) business, which is planning increased activity based on the success of the well, […]
Hornbeck Offshore Releases Inaugural Sustainability Report
(Hornbeck, 12.Sep.2022) â Hornbeck Offshore Services, Inc. has released its inaugural sustainability report, highlighting the company’s environmental, social and governance accomplishments, and establishing a baseline for its future sustainability reporting. The inaugural report, entitled, “Taking Stock,” recognizes Hornbeck Offshore’s long-standing commitment to operating responsibly and outlines the company’s existing programs […]
US DOE Distributes $13.5mn to Support Hydroelectric Facilities
(US DOE, 9.Sep.2022) â The U.S. Department of Energy (DOE) announced the distribution of $13.5mn in incentive payments to 55 hydroelectric facilities through the Hydroelectric Production Incentive Program. The Hydroelectric Production Incentive Program supports hydropower development by providing funding for electricity generated and sold from dams and other water infrastructure throughout […]
Sempra Declares Common and Preferred Dividends
(Energy Analytics Institute, 7.Sep.2022) â The board of directors of Sempra (NYSE:Â SRE) (BMV: SRE) declared a $1.145 per share quarterly dividend on the company’s common stock, which is payable 15 October 2022 to common stock shareholders of record at the close of business on 23 September 2022. The board also […]
Park Systems Opens Applications Lab at Northeastern University
(Park Systems, 7.Sep.2022) â Park Systems, a supplier of Atomic Force Microscopes announced the opening of their new Eastern Regional Lab at Northeastern University‘s 14-acre Innovation Campus in Burlington, MA. The new facility is located on Boston’s Route 128 high-tech corridor, 15 miles north of the city in Building V, a new $70mn, mixed-research building with 40,000+ […]
IKAV acquires Aera Energy from Shell and ExxonMobil
(IKAV, 1.Sep.2022) â IKAV, the international asset management group, has agreed to acquire Aera Energy LLC, through two separate transactions with the joint venture subsidiaries of ExxonMobil and Shell respectively. The transactions are subject to regulatory approval. Aera is one of California’s largest oil and gas producers, accounting for nearly 25% of […]
Ryerson Acquires Howard Precision Metals
(Ryerson Holdings Corp., 1.Sep.2022) â Ryerson Holding Corporation (NYSE: RYI), a value-added processor and distributor of industrial metals, announced today its acquisition of Howard Precision Metals, Inc., one of the largest aluminum distributors in the Midwest. Based in Milwaukee, Wisconsin, Howard specializes in value-added processing services including high-quality precision cut aluminum plate and […]
Chevron Applies for Venezuela License Renewal
(Reuters, 1.Sep.2022) â Chevron Corp has asked the U.S. government to expand its license to operate in Venezuela after the oil major agreed with state-run PDVSA to revamp joint ventures in the sanctioned country, six people close to the matter said. Chevron’s authorization request is the California-based company’s latest attempt to have […]