(bpWE, 16.Jul.2020) — bp Wind Energy (bpWE) agreed to acquire the remaining 50% interest in the bp operated, Fowler Ridge 1 wind asset from its current partner, Dominion Fowler Ridge Wind, LLC, a Dominion Energy subsidiary. Located in central Indiana, the asset includes 162 wind turbines with a generating capacity […]
Category: USA
OGCI Sets Carbon Intensity Target
(OGCI, 16.Jul.2020) — The Oil and Gas Climate Initiative (OGCI) announced a target to reduce the collective average carbon intensity of member companies’ aggregated upstream oil and gas operations to between 20 kg and 21 kg CO2e/boe by 2025, from a collective baseline of 23 kg CO2e/boe in 2017. — […]
Barreiro, Laprea-Bigott, Jordá Named To Citgo Board
(Citgo, 15.Jul.2020) — Citgo Petroleum Corporation Board of Directors announced today that Pablo PĂ©rez Barreiro, Marcelo Laprea-Bigott and Carlos Jordá have been named to the Board of Directors. “Pablo PĂ©rez Barreiro brings decades of experience in organizational management and Marcelo Laprea-Bigott comes to the Board with deep technical expertise in […]
Investors In Russian Pipeline At Risk Of US Sanctions
(Reuters, 15.Jul.2020) — U.S. Secretary of State Mike Pompeo on Wednesday warned investors in two Russian natural gas pipeline projects that they could face sanctions as the Trump administration seeks to curb the Kremlin’s economic leverage over Europe and Turkey. Pompeo told a news conference that European investors in the […]
Thermal Recovery: Technical Papers (FREE Downloads)
(Energy Analytics Institute, 15.Jul.2020) — Technical papers from Nakasawa Resources on thermal recovery technologies; EOR projects: when how and why?; and heavy oil exploitation: unavoidable future. Nakasawa Resources Technical Papers __________ By Jared Yamin. © Energy Analytics Institute (EAI). All Rights Reserved.
Weatherford Signs Four-Year Contract with Eni S.p.A
(Weatherford, 8.Jul.2020) — Weatherford International plc has been awarded an exclusive four-year contract with Eni S.p.A. The contract will provide a minimum of 30 Non-Umbilical Downhole Deployment Valves (NU-DDV™) that will be deployed in Eni’s critical wells, improving their operational safety and reservoir performance. “This award is the result of two […]
SolTrans Turns to AMPLY Power For Bus Charging
(Amply, 7.Jul.2020) — Bringing California closer to its goal to transition all public transit agencies to 100 percent zero-emission bus fleets by 2040, AMPLY Power is managing the charging of electric buses for SolTrans, a public transportation provider for south Solano County, California. Unique to this application, AMPLY is operating […]
Talos To Announce 2Q:20 Results, Host Conference Call
(Talos, 7.Jul.2020) — Talos Energy Inc. will release second quarter 2020 results for the period ended June 30, 2020 on Wednesday, August 5, 2020 after the U.S. financial market closes. In addition to this release, Talos Energy will host a conference call, which will be broadcast live over the internet, […]
Duke Energy Renewables’ Texas Solar Project Online
(Duke Energy, 7.Jul.2020) — Duke Energy Renewables, a subsidiary of Duke Energy, announced that its 200-megawatt alternating current (MWac) Holstein Solar project in Nolan County, Texas, has begun commercial operation. It is the largest solar project in Duke Energy Renewables’ fleet. “Texas is one of the fastest growing solar energy […]
Duke Reaffirms CAPEX In Renewables, Grid Projects
(Duke Energy, 5.Jul.2020) — Duke Energy will continue advancing its ambitious clean energy goals without the Atlantic Coast Pipeline (ACP) by investing in renewables, battery storage, energy efficiency programs and grid projects. Duke Energy’s $56 billion capital investment plan will deliver significant customer benefits and create jobs at a time […]
Court To Auction Gasoline Destined For Venezuela
(Reuters, 1.Jul.2020) — A federal court in Houston on Wednesday was expected to auction 100,000 barrels of gasoline that a shipping company suspected a Venezuelan shipping magnate close to the socialist government in Caracas planned to send to the country. The company, Marshall Islands-based Brujo Finance Company, feared the deal […]
Sempra Energy Advances North American Strategy
(Sempra, 30.Jun.2020) — Sempra Energy completed its business exit from South America, following the recently announced sale of its Chilean businesses, which generated approximately $2.23 billion in total cash proceeds, subject to post-closing adjustments. The completion of the Chilean transactions concludes Sempra Energy’s sales of its South American businesses in […]
Chevron Completes Purchase Of Puma Energy (Australia)
(Chevron, 30.Jun.2020) — Chevron Australia Downstream Pty Ltd., a wholly-owned subsidiary of Chevron Corporation, today announced that it has completed the acquisition from Puma Energy Asia Pacific B.V. of all shares and equity interests of Puma Energy (Australia) Holdings Pty Ltd for the amount of AU$425 million. The acquisition adds […]
Chesapeake Energy Files For Chapter 11
(WoodMac, 28.Jun.2020) — Speaking after Chesapeake Energy filed for Chapter 11 bankruptcy protection today, Alex Beeker, principal analyst on Wood Mackenzie’s corporate upstream team, said: “It’s difficult to point to another company that made more of a widespread impact on the US shale sector than Chesapeake. “The tech sector dubs […]
How Price Crash Changed The Upstream Sector?
(WoodMac, 24.Jun.2020) — According to Wood Mackenzie’s analysis, the oil price crash wiped US$1.6 trillion off the valuation of the global upstream industry. Andrew Pearson, vice president, upstream, said: “This figure captures the impact of Wood Mackenzie’s downgraded long-term Brent price assumption – now US$50/bbl (2020 terms), rather than the […]
US Sanctions On Iranian Tanker Captains
(Energy Analytics Institute, 24.Jun.2020) — The US, under Executive Order 13599, today said it is sanctioning five Iranian ship captains, who delivered approximately 1.5 million barrels of Iranian gasoline and related components to Venezuela in support of the illegitimate Maduro regime. These individuals who headed five Iranian-flagged tankers – Clavel, […]
Braskem Completes Facility In La Porte, Texas
(Braskem, 24.Jun.2020) — Braskem, the largest polyolefins producer in the Americas and leading producer of biopolymers in the world, today announces the construction completion of its newest, world-class polypropylene production facility located in La Porte, Texas. Braskem’s new facility has a designed production capacity of over 450 kilotons (kt) or […]
Venezuela Wooed Texan Lawmaker To Ease Sanctions
(AP, 22.Jun.2020) — Venezuela’s socialist government tried to recruit then-Congressman Pete Sessions to broker a meeting with the CEO of Exxon Mobil at the same time it was secretly paying a close former House colleague $50 million to keep U.S. sanctions at bay, The Associated Press has learned. An official […]
Venezuela Wooed Texas Lawmaker To Ease Sanctions
(AP, 20.Jun.2020) — Venezuela’s socialist government tried to recruit then-Congressman Pete Sessions to broker a meeting with the CEO of Exxon Mobil at the same time it was secretly paying a close former House colleague $50 million to keep U.S. sanctions at bay, The Associated Press has learned. An official […]
Guaido Team Favoring COP In Citgo Fight: Update
(Argus, 19.Jun.2020) — Another senior Venezuelan opposition figure has resigned following the government’s leak of a strategy to favor ConocoPhillips in an escalating battle for Venezuelan state-owned PdV’s US refining unit Citgo. Jose Ignacio Hernandez, who held the title of special attorney general in opposition leader Juan Guaido’s US-backed exiled […]
Opposition Asks Court To Recognize Citgo Changes
(Argus, 18.Jun.2020) — Venezuelan ownership of the country’s most valuable overseas asset may rest on opposition leadership convincing a US court that it restored refiner Citgo’s independence and remains a US foreign policy priority. Attorneys for Venezuela’s US-recognized opposition government argued yesterday that National Assembly leader Juan Guaido halted actions […]
Treasury Targets Sanctions Evasion Network Supporting Corrupt Venezuelan Actors
(US Department of Treasury, 18.Jun.2020) — Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated three individuals and eight foreign entities, and identified two vessels as blocked property for their activities in or associated with a network attempting to evade United States sanctions on Venezuela’s […]
Shipping Magnate Faces US Sanctions Probe
(Reuters, 12.Jun.2020) — The United States is investigating a Venezuelan shipping magnate for possibly violating U.S. sanctions by bringing fuel to gasoline-short Venezuela, according to two senior Trump administration officials. President Donald Trump’s envoy on Venezuela, Elliott Abrams, said the Treasury Department, which oversees sanctions policy, would determine the course […]
Citgo Reports First Quarter 2020 Results
(Citgo, 12.Jun.2020) — Citgo Petroleum Corporation reported its first quarter 2020 performance results, including a net loss of $159 million and an adjusted EBITDA1 of $38 million excluding the effect of special items. The onset of the Covid-19 pandemic combined with crude oil demand destruction were drivers behind the company’s […]
Mirage Inks Deal With The State Of Puebla
(Mirage, 11.Jun.2020) — Mirage Energy Corporation signed an agreement with Energy Agency of the State of Puebla to develop a pipeline infrastructure project to deliver natural gas to the state and various industrial parks with in the state. This includes the delivery of 500 mmbtupd of natural gas thru this […]
Sempra Declares Common, Preferred Dividends
(Energy Analytics Institute, 11.Jun.2020) — Sempra Energy’s board of directors declared a $1.045 per share quarterly dividend on the company’s common stock, which is payable 15 July 2020, to common stock shareholders of record at the close of business on 26 June 2020. San Diego-based Sempra, with more than $60bn […]
Sempra Eyes Closing Of Sale Of Chilquinta EnergĂa
(Sempra, 9.Jun.2020) — Sempra Energy and State Grid International Development Limited (SGID) have jointly announced today that both companies remain firmly committed to completing the sale of Sempra Energy’s equity interests in its Chilean businesses, including its 100% stake in Chilquinta EnergĂa S.A. (Chilquinta EnergĂa), and are targeting June 24 […]
OPEC+ To Meet Saturday On Extending Cuts
(Reuters, 5.Jun.2020) — OPEC and its allies led by Russia will meet on Saturday to discuss extending record oil production cuts and to push laggards such as Iraq and Nigeria to comply with existing curbs. The producers known as OPEC+ previously agreed to cut supply by 9.7 million barrels per […]
BJ Services’ Milestone With Fracturing Technology
(BJ Services, 4.Jun.2020) — At the end of April 2020, BJ Services completed a 1,000-hour field trial of its next-generation direct-drive turbine fracturing pump, TITAN™. This rigorous trial, in actual field conditions, allowed BJ to validate the performance of the TITAN™ pump alongside conventional equipment in one of the most […]
JinkoSolar On Non-Infringement In US
(JinkoSolar, 4.Jun.2020) — JinkoSolar Holding Co., Ltd., one of the largest and most innovative solar module manufacturers in the world, today announced that the United States International Trade Commission (ITC) issued a favorable final determination concluding JinkoSolar’s products do not infringe a patent asserted by Hanwha Q CELLS. In March […]
After The Crash: Five Key Changes In The US GOM
(WoodMac, 4.Jun.2020) — The oil price crash has come at a time when the US Gulf of Mexico (GoM) is leaner and nimbler. It is better prepared to weather the storm compared to the last downturn. Mfon Usoro, from Wood Mackenzie’s Gulf of Mexico upstream research team, takes a look […]
US Sanctions Four Firms For Transporting Venezuelan Oil
(Aljazeera, 2.Jun.2020) — The United States Treasury Department on Tuesday said it had sanctioned four shipping firms for transporting Venezuelan oil, the latest escalation in Washington’s effort to depose socialist President Nicolas Maduro by cutting off the OPEC nation’s crude exports. Marshall Islands-based Afranav Maritime Ltd, Adamant Maritime Ltd and […]
Mexico Probes Libre Abordo Pact With Venezuela
(Reuters, 2.Jun.2020) — The Mexican government’s financial crime department is investigating Libre Abordo, a Mexico-based firm that received millions of barrels of Venezuelan crude under an oil-for-food pact, in a probe coordinated with U.S. agencies, the department’s chief, Santiago Nieto, told Reuters. The Mexican Financial Intelligence Unit is also separately […]
Greenbrier Marine Announces Vessel Delivery
(Greenbrier, 2.Jun.2020) — Greenbrier Marine, a division of The Greenbrier Companies, Inc., announced it has delivered the OSG 204, a 204,000 barrel capacity oil and chemical tank barge for dual-mode ITB service pursuant to U.S. Coast Guard NVIC 2-81, Change 1. The barge has been built in compliance with MARPOL […]
CITGO Proposes $750mn Private Offering
(Citgo, 2.Jun.2020) — Citgo Petroleum Corporation has commenced a private offering exempt from the registration requirements of the Securities Act of 1933, as amended, of $750 million aggregate principal amount of senior secured notes due 2025. The notes offering is subject to market and other conditions, and there is no assurance […]
Bristow Group Announces Stock Repurchases
(Bristow Group, 1.Jun.2020) — Bristow Group Inc. entered into privately negotiated stock repurchase agreements to repurchase 142,721 shares of its common stock and 98,784 shares of its preferred stock at an aggregate purchase price of approximately $4.8 million (collectively, the “Repurchases”). The closing of the Repurchases is subject to a […]
Bristow Group Announces Stock Repurchases
(Bristow, 1.Jun.2020) — Bristow Group Inc. announced entry into privately negotiated stock repurchase agreements to repurchase 142,721 shares of its common stock and 98,784 shares of its preferred stock at an aggregate purchase price of approximately $4.8 million (collectively, the “Repurchases”). The closing of the Repurchases is subject to a […]
Pioneer Energy Services Emerges from Chapter 11
(Pioneer, 1.Jun.2020) — Pioneer Energy Services Corp. has emerged from Chapter 11 bankruptcy protection, successfully completing its debt restructuring process and implementing the Chapter 11 reorganization plan confirmed by the U.S. Bankruptcy Court for the Southern District of Texas on May 11, 2020. In connection with the debt restructuring, Pioneer […]
US Senators Expected To Sanction Nord Stream 2
(Reuters, 29.May.2020) — Two U.S. senators are expected to introduce next week sanctions on the Nord Stream 2 natural gas pipeline that Russia is trying to finish, but which Washington has opposed since the Obama era, a source familiar with the matter said on Friday. The sanctions, which would have […]
Op-Ed: My Love Affair With Tulsa University
(Gustavo Coronel, 27.May2020) — An April morning in 1951, I left New York City for Tulsa, Oklahoma. I had been studying English for 15 weeks at Queens College before going on to The University of Tulsa to study geology. I had traveled to New York City from Los Teques, Venezuela, […]
US Court Declines To Hear Appeal In Crystallex Case
(Reuters, 18.May.2020) — The U.S. Supreme Court on Monday declined to hear Venezuela’s appeal of a lower court ruling allowing Canadian gold mining company Crystallex to seize shares in U.S. refiner Citgo to collect on an unpaid arbitration award. That meant a 3rd U.S. Circuit Court of Appeals ruling from […]
Coronavirus Amplifies LatAm Sovereigns’ Pressures
(Fitch, 18.May.2020) — LatAm sovereigns’ weak public finances make them particularly vulnerable to the coronavirus crisis, Fitch Ratings says, by limiting both their counter-cyclical policy flexibility and their ability to support post-crisis economic recoveries. The pronounced negative ratings pressures in the region stem largely from these pre-existing fiscal issues. LatAm […]
Venezuela Spurned By US Court In Citgo Clash
(Bloomberg, 18.May.2020) — The U.S. Supreme Court rejected an appeal by Venezuela in its fight to retain control of oil refiner Citgo Holding Inc., putting the country a step closer to losing its largest asset. The justices, without comment on Monday, left intact a federal appeals court victory for a […]
McDermott Awarded Middle East Engineering Contract
(McDermott, 18.May.2020) — McDermott International, Inc. today announced it has been awarded a sizeable* contract from a Middle East customer to carry out front-end engineering and design (FEED) work for offshore riser platform topsides. The scope includes the design of two offshore riser platforms, as well as associated brownfield integration […]
Nynas: Removal Of Venezuela-related License
(OFAC, 12.May.2020) — The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is revoking and archiving on its website Venezuela-related General License (GL) 13E “Authorizing Certain Activities Involving Nynas AB,” and is issuing GL 3H (“Authorizing Transactions Related to, Provision of Financing for, and Other Dealings in Certain […]
Hess Reports Estimated Results For 1Q:20
(Hess, 7.May.2020) — Hess Corporation reported a net loss of $2,433 million, or $8.00 per common share, in the first quarter of 2020, including impairment and other after-tax charges of $2,251 million resulting from the low price environment, compared with net income of $32 million, or $0.09 per common share, in […]
AES Makes Progress On Strategic Objectives
(AES, 7.May.2020) — The AES Corporation reported financial results for the quarter ended 31 March 2020. HIGHLIGHTS Strategic Accomplishments — Completed construction of 1.4 GW of new projects, including the 1.3 GW Southland Repowering project in Southern California — Signed 685 MW of new renewables under long-term PPAs, bringing backlog […]
AES Conference Call Information
(AES, 7.May.2020) — The AES Corporation will host a conference call on Wednesday 7May 2020 at 9:00 a.m. Eastern Daylight Time (EDT). Interested parties may listen to the teleconference by dialing 1-888-317-6003 at least ten minutes before the start of the call. International callers should dial +1-412-317-6061. The Conference ID […]
FMC To Acquire Ingredient Assets From Isagro S.p.A.
(FMC, 6.May.2020) — FMC Corporation and Isagro S.p.A. have agreed to a binding offer whereby FMC will acquire Isagro’s Fluindapyr active ingredient assets for €55 million (approximately $60 million). The cash transaction, expected to close by the end of third quarter 2020, will transfer to FMC all intellectual property, know-how, […]
Global LNG Demand Resilient Amid COVID-19
(IHSMarkit, 30.Apr.2020) — The COVID19 pandemic has led to lockdowns across the globe and severe downgrades for short-term macroeconomic indicators. A major re-evaluation is needed for the supply and demand of each traded commodity and LNG is no exception. It is clear that natural gas demand will be negatively affected, […]