(US Senate, 4.Dec.2020) — US Senate Foreign Relations Committee Ranking Member Bob Menendez (D-N.J.) and Senate Democratic Whip Dick Durbin (D-Ill.) issued the following statement denouncing the Maduro regime’s sham elections scheduled to take place on Sunday, December 6. “For nearly two years, world leaders have stood in solidarity with […]
Category: USA
Sempra Announces Integrated Transactions
(Sempra, 2.Dec.2020) — Sempra Energy announced a series of integrated transactions intended to simplify its energy infrastructure investments under one platform – creating scale, unlocking portfolio synergies and better positioning the business for growth. To accomplish this, the company announced its intention to launch a stock-for-stock exchange offer for the […]
Trump To Add SMIC And CNOOC To Defense Blacklist
(Reuters, 29.Nov.2020) — The Trump administration is poised to add China’s top chipmaker SMIC and national offshore oil and gas producer CNOOC to a blacklist of alleged Chinese military companies, according to a document and sources, curbing their access to U.S. investors and escalating tensions with Beijing weeks before President-elect […]
Venezuela Judge Convicts Citgo-6, Orders Prison
(AP, 27.Nov.2020) — Six American oil executives held for three years in Venezuela were found guilty of corruption charges by a judge Thursday and immediately sentenced to prison, dashing hopes of a quick release that would send them home to their families in the United States. Some relatives had been […]
Venture Global LNG Awards KBR Contract Export Facility
(Venture Global, 23.Nov.2020) — Venture Global LNG, Inc. announces that KBR has been awarded the engineering, procurement and construction (EPC) contract as lead contractor for Phase 1 of the Plaquemines LNG export project currently under development in Plaquemines Parish, Louisiana. KBR will integrate highly modularized, owner-furnished equipment for the 10 […]
Talos Apparent High Bidder On Federal Lease Sale Blocks
(Talos, 20.Nov.2020) — Talos Energy Inc. is the apparent high bidder on two deepwater blocks in the recent Outer Continental Shelf (“OCS”) Federal Lease Sale 256, held on 18 November 2020. Talos placed a sole bid on Viosca Knoll 1000 as well as a joint bid with an affiliate of […]
ReneSola And Innova Form Solar Projects JV In The UK
(ReneSola, 19.Nov.2020) — ReneSola Ltd, a leading fully integrated solar project developer, and Innova, a company that invests in and operate a diversified portfolio of UK renewable energy assets, with a focus on utility-scale ground mounted and commercial roof top solar installations, located at agricultural, industrial and commercial sites, today […]
Panasonic And Equinor Eye European Battery Business
(Panasonic, 18.Nov.2020) — The companies will work together towards summer 2021 to assess the market for lithium-ion batteries in Europe and mature the business case for a green battery business located in Norway. The companies intend that this initiative is based on Panasonic’s leading technology and targets the European market […]
Sempra Declares Common, Preferred Dividends
(Sempra, 18.Nov.2020) — Sempra Energy announced that its board of directors has declared a $1.045 per share quarterly dividend on the company’s common stock, which is payable 15 January 2021, to common stock shareholders of record at the close of business on 18 December 2020. Sempra Energy’s board of directors […]
AES And AIMCo To Form US Renewables Platform
(AES, 17.Nov.2020) — The AES Corporation announced an agreement with Alberta Investment Management Corporation (AIMCo) to merge the sPower development platform, a leading independent solar developer in the US, with AES’ US-based clean energy development business to accelerate the safe, reliable transition to cleaner energy solutions in the country. AES’ […]
BP Energy Acquires Encino Environmental Services, LLC
(BP, 17.Nov.2020) — BP Energy Partners, LLC (BPEP) announced acquisition of Encino Environmental Services, LLC, an environmental consulting and services business that enables compliance with government regulations along with providing carbon emissions benchmarking and mitigation strategies to achieve Environmental, Social and Governance (ESG) goals. Encino specializes in emissions performance testing, […]
Nucor Inks Virtual Power Purchase Deal In Texas
(Nucor, 13.Nov.2020) — Nucor Corporation signed a 15-year Virtual Power Purchase Agreement (VPPA) with EDF Renewables North America (EDFR) for 250 megawatts (MWac) of new solar energy in Texas. The agreement, which will enable EDFR to add more clean energy to the region’s power grid, is Nucor’s first VPPA and […]
Citgo Reports Third Quarter 2020 Results
(Citgo, 13.Nov.2020) — Citgo Petroleum Corporation’s third quarter results were driven by the economic effects of the Covid-19 pandemic, which affected the refining industry as a whole, and were further affected by an eight-week shutdown at the Lake Charles, La. refinery due to Hurricanes Laura and Delta. As a result […]
Houston American Energy Reports Executive Changes
(Houston American Energy, 12.Nov.2020) — Houston American Energy Corp. announced certain management changes. James Schoonover, the company’s President and Chief Executive Officer, has advised the company that he would be stepping down from those positions, effective 1 December 2020. Mr. Schoonover joined the company’s board in April 2018 and assumed […]
Sempra And Salk Partner In Carbon Capture Deal
(Sempra Energy, 9.Nov.2020) — Sempra Energy and the Salk Institute today announced a new project to advance plant-based carbon capture and sequestration research, education and implementation to help address the climate crisis. Sempra Energy is donating $2mn to the Salk Institute to help fund the five-year project. “There is incredible […]
AES Attains Second Investment Grade Rating
(AES, 6.Nov.2020) — The AES Corporation reported financial results for the quarter ended 30 September 2020. “I am pleased to announce that we have already achieved two of our top three priorities for 2020 by attaining a second investment grade rating and reducing our coal generation to 29%. With our […]
Sempra Energy Excited About US Position
(Sempra, 5.Nov.2020) — Sempra Energy reported third-quarter 2020 earnings of $351mn, or $1.21 per diluted share, compared to third-quarter 2019 earnings of $813mn, or $2.84 per diluted share. On an adjusted basis, the company’s third-quarter 2020 earnings were $380mn, or $1.31 per diluted share, compared to $425 million, or $1.50 […]
Apache Releases Sustainability Report
(Energy Analytics Institute, 5.Nov.2020) — Apache Corporation released its 2020 Sustainability Report, which highlights the company’s performance in governance, environmental stewardship, health and safety, workforce development and community engagement. The report, released on 30 September 2020, is available at www.apachecorp.com/Sustainability. __________ By Jared Yamin. © Energy Analytics Institute (EAI). All […]
Talos Energy Provides Operational Results
(Talos, 4.Nov.2020) — Talos Energy Inc. announced its financial and operational results for the third quarter of 2020. Key Highlights: — Production of 48.6 thousand barrels of oil equivalent per day (MBoe/d), of which 67% was oil and 74% was liquids. Production for the quarter was significantly impacted by deferrals […]
ExxonMobil To Reduce US Staff Levels
(Exxon, 30.Oct.2020) — As part of an extensive global review announced earlier this year, the company plans to reduce staffing levels in the United States, primarily at its management offices in Houston, Texas. The company anticipates approximately 1,900 employees will be affected through voluntary and involuntary programs. The workforce reductions […]
Latin America Peers Warily Into US Election Mirror
(Argus, 30.Oct.2020) — The region’s recovery from Covid-19 will depend heavily on who is dictating US policy, writes Patricia Garip. Waves of political chaos that recurrently engulf Latin America were not supposed to wash up on stable US shores. Yet days before the 3 November election, the US is convulsed […]
SimĂłn BolĂvar Foundation Rejects Maduro Allegations
(Citgo, 30.Oct.2020) — Given the recent accusations made by representatives of the Nicolás Maduro regime, the SimĂłn BolĂvar Foundation, the private non-profit foundation of Citgo Petroleum Corporation, categorically rejects the allegations regarding the Foundation’s activities and its President Ms. Mariela Poleo, for being completely false and unfounded. The SimĂłn BolĂvar […]
Hess Corp. 3Q:20 Earnings Call Transcript
(Seeking Alpha, 28.Oct.2020) — Hess Corporation announced it 3Q:20 earnings results. The transcript from the earnings conference call on 28 October 2020 with analyst follows. Company Participants Jay Wilson – VP, IR John Hess – CEO Greg Hill – COO John Rielly – CFO Conference Call Participants Doug Leggate – […]
ConocoPhillips Reports 3Q:20 Results
(ConocoPhillips, 29.Oct.2020) — ConocoPhillips reported a third-quarter 2020 loss of $0.5 billion, or ($0.42) per share, compared with third-quarter 2019 earnings of $3.1 billion, or $2.74 per share. Excluding special items, third-quarter 2020 adjusted earnings were a loss of $0.3 billion, or ($0.31) per share, compared with third-quarter 2019 adjusted […]
Citgo Names John Zuklic As Chief Financial Officer
(Citgo, 29.Oct.2020) — The Board of Directors of Citgo Petroleum Corporation appointed John Zuklic as Vice President Finance and Chief Financial Officer (CFO), reporting to Citgo President and CEO Carlos Jordá, effective 4 Nov. 2020. Zuklic was selected after a thorough, competitive search process that evaluated a number of highly […]
Exxon Mobil Corporation Declares 4Q:20 Dividend
(Exxon, 28.Oct.2020) — The Board of Directors of Exxon Mobil Corporation declared a cash dividend of $0.87 per share on the Common Stock, payable on 10 December 2020 to shareholders of record of Common Stock at the close of business on 12 November. This fourth quarter dividend is at the […]
Hess Reports 3Q:20 Results, Ups Guyana Resources
(Hess, 28.Oct.2020) — Hess Corporation reported a net loss of $243 million, or $0.80 per common share, in the third quarter of 2020, compared with a net loss of $212 million, or $0.70 per common share, in the third quarter of 2019. On an adjusted basis, the Corporation reported a […]
Fact Box: History Of Esso Trading Name
(Energy Analytics Institute, 24.Oct.2020) — Esso is a trading name for Irving, Texas-based ExxonMobil and its related companies. The company started off as Standard Oil of New Jersey following the breakup of Standard Oil. In 1972, the name was largely replaced in the US by the Exxon brand after the […]
US Energy Policy Front And Center In US Elections
(WoodMac, 21.Oct.2020) — The 2020 elections bring US energy policy to a clear fork in the road. A second term for President Donald Trump would mean a continuation of the pattern of the past four years: a generally laissez-faire approach to energy policy, with attempts at the margin to support […]
Compressco Releases Date For 3Q:20 Conference Call
(CSI Compressco, 20.Oct.2020) — CSI Compressco expects to release its third quarter 2020 results before the opening of the market on 2 November 2020. Following the release, CSI Compressco will host a conference call at 9:30 a.m. Eastern Time to discuss the results. CSI Compressco invites you to listen to […]
CSI Compressco Announces Quarterly Distribution
(CSI Compressco, 20.Oct.2020) — CSI Compressco LP announced that the board of directors of its general partner has declared a cash distribution attributable to the quarter ended 30 September 2020 of $0.01 per outstanding common unit, or $0.04 per outstanding common unit on an annualized basis. This cash distribution will […]
Citgo-backed Bonds Boosted By US Court Ruling
(Reuters, 19.Oct.2020) — Bond market brokers marked up prices on some of Venezuela’s battered debt more than four-fold on Monday after a U.S. judge dealt a major blow to opposition leader Juan Guaido’s efforts to have them declared invalid. The bonds at the centre of the row belong to Venezuelan […]
ConocoPhillips Swoops On Concho In $9.7bn Deal
(WoodMac, 19.Oct.2020) — Speaking after ConocoPhillips announced it will take over Concho Resources in a $9.7 billion all-stock deal, Robert Clarke, vice president, Lower 48 upstream, at Wood Mackenzie, said: “The combination is remarkable. Just in regards to scale, ConocoPhillips is adding enough Permian production to nip at the heels […]
ConocoPhillips To Buy Concho Resources
(ConocoPhillips, 18.Oct.2020) — ConocoPhillips and Concho Resources entered into a definitive agreement to combine companies in an all-stock transaction. Under the terms of the transaction, which has been unanimously approved by the board of directors of each company, each share of Concho Resources (Concho) common stock will be exchanged for […]
Apache Reveals 3Q:20 Supplemental Information
(Apache, 14.Oct.2020) — Apache Corporation provided supplemental information regarding certain third-quarter 2020 financial and operational results. Supplemental quarterly information To further assist analysts with their third-quarter earnings models, the company is providing the following estimates: Estimated Average Realized Prices – 3Q20 Oil (bbl) NGL (bbl) Natural Gas (Mcf) […]
TechnipFMC Enters Green Hydrogen Deal With McPhy
(TechnipFMC, 14.Oct.2020) — TechnipFMC signed a Memorandum of Understanding (MoU) with McPhy, a leading manufacturer and supplier of carbon-free hydrogen production and distribution equipment, pursuant to which the two companies will jointly work on technology development and project implementation. TechnipFMC is also making an equity investment in McPhy. TechnipFMC’s Technip […]
Panhandle Changes Name To PHX Minerals Inc.
(Energy Analytics Institute, 13.Oct.2020) — Panhandle Oil and Gas Inc. officially changed its name to PHX Minerals Inc. with an effective date of 8 October 2020. Additionally, and in conjunction with its name change, the company has also announced the unveiling of a new logo. The company’s ticker will remain […]
San Diego County Energy Developer Gets Funds
(Indian Energy, 12.Oct.2020) — Long-duration, non-lithium ion energy storage is the final key to unlocking renewables and permanently evading the blackouts and brownouts that California is currently facing due to fires, a changing energy mix and climate change. Without storage, 100% renewables penetration is not possible. To address this, the […]
BHP Buys Additional 28% Interest In Shenzi From Hess
(BHP, 6.Oct.2020) — BHP signed a Membership Interest Purchase and Sale Agreement with Hess Corporation (Hess) to acquire an additional 28% working interest in Shenzi, a six-lease development in the deepwater Gulf of Mexico. Shenzi is structured as a joint ownership: BHP (Operator, 44% interest); Hess (28% interest) and Repsol […]
Chevron Closes Acquisition Of Noble Energy
(Energy Analytics Institute, 5.Oct.2020) — San Ramon-California based Chevron Corporation reported its acquisition of Noble Energy, Inc. has been completed following approval by Noble Energy shareholders. “We are pleased to welcome Noble Energy’s employees and shareholders to Chevron. Noble’s high-quality assets complement Chevron’s advantaged upstream portfolio, and the combination is […]
Marathon Reinstates Base Dividend And Reduces Debt
(Marathon, 1.Oct.2020) — Marathon Oil Corporation reported an update highlighting the reinstatement of a base dividend, recent debt reduction initiatives, and a transparent framework for future capital allocation and uses of free cash flow intended to maximize long-term shareholder value. Highlights — Reinstated quarterly base dividend at 3 cents per […]
Oxy Sales Colombian Onshore Assets to The Carlyle Group
(Piero Stewart, Energy Analytics Institute, 1.Oct.2020) — Houston-based Occidental Petroleum inked an agreement to divest its onshore assets in Colombia to The Carlyle Group for total consideration of $825mn. Per the deal, $700mn is due up front and the remainder payable subject to certain production and commodity price targets, Carlyle […]
Golar LNG Class Action And Lead Plaintiff Deadline
Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Golar LNG Ltd and certain of its officers, on behalf of shareholders who purchased or otherwise acquired Golar securities between 30 Apr. and 24 Sep. 2020.
Citgo Board Chairwoman Luisa Palacios To Step Down
(Citgo, 29.Sep.2020) — Citgo Petroleum chairwoman Luisa Palacios says she’ll step down from her position next month. Her letter follows: Dear CITGO community, When I agreed to assume the role of Chairwoman of CITGO in early 2019, the situation required us to focus our attention on three critical goals: to […]
US Pressed For Firm Stance In Venezuelan Bond Case
(Law360, 25.Sep.2020) — A New York federal judge on Friday grilled a lawyer representing the U.S. government on whether she should defer to Venezuelan’s denunciation of the some $1.68 billion in bonds, even as she acknowledged later that it would be a “very harsh result” to deny the bondholders what […]
US Treasury Updates Venezuela, Iran Designations
(Energy Analytics Institute, 22.Sep.2020) — The US Department of Treasury released details regarding Venezuela-related designations as well as providing a designation update. Treasury also provided an Iran-related designation update. The following individuals have been added to OFAC’s SDN List: BENAVIDES RONDON, Williams Jose, Venezuela; DOB 04 Apr 1981; POB Guanipa, […]
Shell And Microsoft Join Up On Carbon Emissions
(Shell, 22.Sep.2020) — Shell International Petroleum Company Limited and Microsoft Corporation, building on a history of three decades of working together, are embarking on a new strategic alliance to support progress towards a world with net-zero emissions. This builds on the strong foundation of decades of technology collaboration between the […]
Enel X Enters US Public Transit Market
(Enel X, 18.Sep.2020) — Enel X, the Enel Group’s advanced energy services business line, announced it has been awarded two grants by the Accelerating Clean Transportation Now (ACTNow) program through the Massachusetts Clean Energy Center (MassCEC). The grants will support the development of public transportation electrification in the Commonwealth and […]
Ecopetrol Aims To Drill 100 Permian Wells By YE:21
(Reuters, 14.Sep.2020) — Colombian oil company Ecopetrol SA aims to drill a total 100 wells by end-2021 in the Permian Basin of West Texas as global oil prices recover, Chief Executive Felipe Bayon said on Monday. Global oil prices plunged to decade lows, with U.S. West Texas Intermediate (WTI) dropping […]
Maersk Chips In With Hurricane Laura Relief
(Maersk, 10.Sep.2020) — APM Terminals Mobile, the Alabama State Port Authority, Maersk Special Project Logistics and Team Rubicon worked together this past week to collect over 36,000 pounds of bottled water, non-perishable food and other emergency supplies for distribution to those affected by Hurricane Laura in communities surrounding Lake Charles, […]