(FT.com, 30.Nov.2022) â The ports of the US Gulf of Mexico coast will soon resume shipments that have been absent for more than three years: tankers full of Venezuelaâs heavy crude oil. The first tanker carrying about 1mn barrels could set sail as soon as this month after the US […]
Category: USA
Energy Analytics Institute’s NRGBriefs: November 2022
(Energy Analytics Institute, 30.Nov.2022) â Energy briefs as well as others related to finance and politics during November 2022 including Brazilian oil giant Petrobras launching its strategic plan for 2023-27; US Secretary of State Antony Blinken welcoming resumption of Venezuelan-led negotiations in Mexico City between the ruling party and opposition […]
Maduro Calls for ‘Complete Lifting’ of Oil Sanctions
(AFP, 30.Nov.2022) â Venezuelan President Nicolas Maduro said the easing of an oil embargo on his country by the United States was not enough, and called Wednesday for the total lifting of sanctions. The United States over the weekend granted energy giant Chevron a license to resume some oil operations […]
Global Deepwater Production to Increase 60% by 2030: WoodMac
(WoodMac, 29.Nov.2022) â Global deepwater production will increase 60% by 2030, reaching 17 million barrels of oil equivalent per day (boe/d), according to a new report from Wood Mackenzie, a Verisk business. Wood Mackenzieâs report âGlobal deepwater 2022 state of the industryâ, highlights the sectorâs expansion from 6% of upstream […]
US State Department: Joint Statement on Venezuela Negotiations
(US Department of State, 26.Nov.2022) â The following statement was released by Secretary of State Antony J. Blinken, the EU High Representative for Foreign Affairs and Security Policy Josep Borrell Fontelles, the Canadian Minister of Foreign Affairs the Honourable MĂ©lanie Joly, and the United Kingdom Secretary of State for Foreign, […]
US Eases Venezuela Oil Sanctions After Govât, Opposition Ink Deal
(Al Jazeera, 26.Nov.2022) â The Biden administration on Saturday eased some oil sanctions on Venezuela after the government of Nicolas Maduro and the opposition signed a broad âsocial accordâ to create a UN-administered fund to provide humanitarian aid to the Venezuelan people. The agreement signed on Saturday in Mexico City […]
Chevron Can Resume Key Role in Venezuela’s Oil Output
(Reuters, 26.Nov.2022) â Chevron Corp on Saturday received a U.S. license allowing the second-largest U.S. oil company to expand its production in Venezuela and bring the South American country’s crude oil to the United States. The decision grants broader rights for the last big U.S. oil company still operating in […]
US Prepared to Authorize Chevron to Boost Venezuela’s Oil Output
(Reuters, 23.Nov.2022) â Chevron Corp could soon win U.S. approval to expand operations in Venezuela and resume trading its oil once the Venezuelan government and its opposition resume political talks, four people familiar with the matter said on Wednesday. A U.S. authorization for Chevron to help rebuild the country’s sagging […]
Sempra Announces Strategic Partnership with ConocoPhillips for Port Arthur LNG
(Sempra, 22.Nov.2022) â Sempra (NYSE: SRE) (BMV: SRE) announced that its subsidiary, Sempra Infrastructure, and ConocoPhillips (NYSE: COP) have executed a 20-year Sale and Purchase Agreement (SPA) for 5 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from Phase 1 of the proposed Port Arthur LNG project under development in Jefferson County, […]
Waiving a Law May Help New England Get Easier Access to NatGas
(Connecticut Public Radio, 21.Nov.2022) â On Oct. 27, Eversource Energy President and CEO, Joe Nolan, wrote a letter to President Joe Biden warning him of the potential power shortages across New England if the region experiences sustained extreme cold. In the letter, Eversource asked for a number of proactive measures […]
Janet L. Yellen on Election of IADB President
(US Treasury, 20.Nov.2022) â Statement by Secretary of the Treasury Janet L. Yellen on Election of the President of the Inter-American Development Bank. On behalf of the United States, I wish to extend my congratulations to Ilan Goldfajn on his election as President of the IDB. The IDB plays a […]
NextEra Energy to Acquire 1,080-MW Net Interest in Portfolio
(NextEra, 18.Nov.2022) â NextEra Energy Partners, LP (NYSE:Â NEP) has entered into an agreement with subsidiaries of NextEra Energy Resources, LLC to acquire a 49% interest in an approximately 1.5-gigawatt renewables portfolio and approximately 100% of the indirect membership interests in an approximately 345-megawatt (MW) portfolio of operating wind assets. Immediately […]
Freeport LNG Updates on Restart of Liquefaction Facility
(Freeport LNG, 18.Nov.2022) â Freeport LNG Development, L.P. provided an update on the ongoing reconstruction and resumption of operations at its natural gas liquefaction and LNG export facility. As of 14 November the reconstruction work necessary to commence initial operations, including utilization of all three liquefaction trains, two LNG storage […]
Simon Bolivar Foundation Support Health Programs for Venezuelan, Other Migrants
(SimĂłn BolĂvar Foundation Inc., 17.Nov.2022) â SimĂłn BolĂvar Foundation Inc., the 501(c)(3) nonprofit private foundation of Citgo Petroleum Corporation, is awarding up to $1.68mn in grant funding to seven qualified charitable organizations as part of its Colombia-Ecuador-Peru Humanitarian Health Grants program. The call for grant applications for this charitable program, recognizing the vulnerable […]
Chevron to Acquire Full Ownership of Beyond6 CNG Fueling Network
(Chevron, 17.Nov.2022) â Chevron U.S.A. Inc., a subsidiary of Chevron Corporation (NYSE: CVX), announced today it signed a definitive agreement to acquire full ownership of Beyond6, LLC (B6) and its network of 55 compressed natural gas (CNG) stations across the United States from Chevronâs current B6 co-owners, a subsidiary of […]
Earthquake in Texas Oil Country Highlights Environmental Concerns
(Barrons, 16.Nov.2022) â A 5.3 magnitude earthquake hit a key oil basin in West Texas on Wednesday afternoon, and was strong enough to be felt in Austin and other parts of the state. It wasn’t immediately clear whether the quake affected oil companies’ operations, but it could add to concern […]
DENSO Announces North America Energy Policy Statement
(DENSO, 16.Nov.2022) â DENSO, a mobility supplier, has created a North America Energy Policy Statement as part of its efforts to contribute to a green and sustainable world. The policy statement demonstrates DENSO’s commitment to reducing energy use and decarbonizing operations at its North American locations, with each pushing the company closer to […]
Nucor Joining the UNs 24/7 Carbon-Free Energy Global Compact
(Nucor, 15.Nov.2022) â Nucor Corporation (NYSE: NUE) is joining the United Nations 24/7 Carbon-Free Energy Global Compact (“Compact”). Nucor is the first major industrial company to join this global effort, which is aimed at accelerating the decarbonization of the world’s electricity systems to mitigate climate change and ensure access to clean […]
IDB and IDB Invest Provided $26bn in Climate Financing over Five Years
(IDB, 14.Nov.2022) â The Inter-American Development Bank (IDB) and IDB Invest, the IDB Group‘s private-sector arm, provided more than $26bn in climate financing for Latin America and the Caribbean between 2016 and 2021. This figure represents approximately 60% of all climate financing in the region from multilateral development banks during this period. Of the total, $8.3bn went to […]
Holland & Knight Strengthens its Global Energy Practice
(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 […]
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 […]