Guatemala wants 700 Megawatts of gas to power its electricity in a tender
Guatemala has announced a tender for 1500 megawatts of new capacity in electricity generation to meet the growing demand. Around 700 MW will be awarded to LNG-based projects. "Guatemala anticipates contracting at least 700 MW firm power in one or more facilities, located on the coasts of either the Atlantic Ocean, or the Pacific Ocean, that will receive LNG vessels. The government of Guatemala, through its minister of energy and mining Victor Hugo Ventura said that this will meet the country's dynamic electricity needs.
TotalEnergies acquires 40 offshore US blocks operated by Chevron
PARIS, 16 June - French oil giant TotalEnergies announced on Monday that it had acquired a 25 percent interest in 40 federal exploration leases operated by Chevron in the Gulf of Mexico. The outer continental shelf leases consist of 13 blocks located in Walker Ridge, 9 blocks within the Mississippi Canyon region and 18 blocks situated in East Breaks. The company stated that the acquisitions would help it achieve its goal of increasing production of low cost, low emission oil and gas by 3 percent annually until 2030.
Executive of Malaysian energy company Petronas says that the company has no plans to leave Canada
The CEO of Petronas' Canadian subsidiary, who spoke on Tuesday, said that the Malaysian company has no plans to abandon Canada. He added that the company was committed to exporting LNG off Canada's West Coast for decades. Petronas Canada's CEO Mark Fitzgerald said that the rumor of Petronas leaving Canada was "absolutely not true" on the sidelines an energy conference held in Calgary. Bloomberg reported that Petronas is considering selling its Canadian company Progress Energy Resources Corp.
NextEra CEO: Renewables are needed to bridge the gap between expanding gas power and increasing renewables
NextEra CEO John Ketchum said on Tuesday that renewable energy sources such as wind and solar power will be needed to meet the rapidly increasing energy demand in America, despite near-term challenges to increasing natural gas capacities. At the Politico Energy Summit, the head of Florida's power producer stated that the high cost to acquire gas turbines and a shortage in construction workers, along with the tariff costs, will make it take seven years or more to bring new gas-fired plants online. Ketchum stated that "we need a bridge in order to get to 2032, when the gas will be available...
The new Texas wastewater regulations could increase costs for oil producers
The new guidelines for permitting wastewater disposal wells are likely to increase the costs of oil producers, as the crude price is low. This will be the latest challenge faced by an industry that has seen its output growth slow down as it matures. U.S. oil production has soared to a record 13,4 million barrels a day (bpd), thanks to technological advances that allowed companies to tap into its vast oil reserves. The growth is slowing down, though, as the best oil resources are exhausted, forcing operators to drill in less profitable locations where more water is produced.
FuelCell Energy cuts 22% of its staff as part of a restructuring plan
FuelCell Energy, a renewable energy company, announced on Friday that it had laid off 22 percent of its staff as part of an overall restructuring plan designed to reduce operating costs by 30 percent compared to a year ago. Following the announcement, shares of the Danbury-based company in Connecticut rose 5.6% during premarket trading. Many renewable energy companies have had to reconsider their expansion plans due to high interest rates and policy uncertainty surrounding capital-intensive clean power projects.
Mark Tucker, former chairman of HSBC, joins Asia insurer AIA
Mark Tucker, HSBC’s highly-regarded Chairman, will leave the bank and take up a new position as chairman of AIA Group. He was previously CEO of the pan-Asian insurer where he served. HSBC announced that Brendan Nelson, a KPMG former partner and member of its board who chairs the audit committee for the group, will become interim chairman on October 1. On May 1, the bank announced that Tucker would leave before the end the year. However, the statement released on Friday stated that he will depart on September 30, according to the bank.
CEO Seeking to Build Philadelphia LNG Terminal Meets with White House
The CEO of a company seeking to build a liquefied natural gas terminal near Philadelphia told Reuters on Wednesday he met officials at the White House this week to "provide intelligence" about the project in the works for years despite local opposition.Penn America Energy Holdings wants to export 7.2 million tons a year of LNG from a site near Philadelphia to markets in Europe and Asia. Franc James, the CEO, said he had a meeting at the White House on Tuesday and that the company is considering several locations other than the original site in Chester…
The White House meets with the CEO of a company seeking to build a Pennsylvania LNG terminal
The CEO of the company that wants to build a terminal for liquefied gas near Philadelphia said on Wednesday that he had met with officials at the White House in this week to provide "intelligence" about the project, which has been in the works despite local resistance. Penn America Energy Holdings plans to export 7.2 millions tons of LNG per year from a facility near Philadelphia to European and Asian markets. Franc James said that he met with the White House Tuesday, and the company is looking at other locations than Chester, Pennsylvania.
EU selects 13 new projects for critical materials, including Greenland
The European Union announced Wednesday 13 new raw materials projects outside of the bloc in order to increase its supply of metals, minerals and other essential elements for the EU to remain competitive in energy transition and defence and aerospace. This announcement comes after China decided in April to restrict exports of rare earth magnets unless new licenses were obtained. Diplomats, carmakers, and other companies, from Europe and beyond, are scrambling for meetings with Beijing officials to avoid factory closures.
EU selects 13 new projects for critical materials, including Greenland
The European Commission announced on Wednesday 13 new raw materials projects outside of the EU to increase its supply of metals, minerals and other essential elements for the bloc's competitiveness in energy transition and defence and aerospace. After China announced in April that it would restrict exports of rare earth magnets unless new licenses were obtained, the EU made its announcement. Diplomats, carmakers, and other executives, from Europe and beyond, are now left with no choice but to accept this decision. To secure meetings with Beijing officials in order to avoid factory closures.
EU selects 13 new projects for critical materials, including Greenland
The European Commission announced on Wednesday 13 new raw materials projects outside of the EU to increase its supply of metals, minerals and other essential elements for the bloc's competitiveness in energy transition and defence and aerospace. After China announced in April that it would restrict exports of rare earth magnets unless new licenses were obtained, the EU made its announcement. Diplomats, carmakers, and other executives, from Europe and beyond, are now left with no choice but to accept this decision. To secure meetings with Beijing officials in order to avoid factory closures.
The price of gas in Europe is falling amid strong wind output
The Dutch and British wholesale prices of gas fell on Wednesday after increasing the previous day, as stronger wind production offset lower solar output, and supply was stable. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell by 0.20 euros to 35.80 Euro per megawatt hour at 0747 GMT. The British front-month contracts was 0.61 pence less at 83.29 cents per therm. The total Norwegian exports have remained flat, but the gas processing plant Kollsnes will begin another maintenance shutdown tomorrow. This will affect 40 million cubic meters per day.
Nuclear companies and others ask Senate to maintain energy tax credits
Energy companies that represent technologies that provide stable and consistent baseload power urged U.S. Senate leaders on Tuesday to preserve the clean energy tax credit that was effectively eliminated by a Republican Bill passed last month by Congress. Republicans, including U.S. president Donald Trump, have criticised clean energy tax credit programs for encouraging intermittent renewable energy like wind and sun that fluctuates depending on the weather. They claim that the country needs more baseload electricity…
XRG Aims For Gas and LNG Capacity of 20-25 Million Tons a Year by 2035
XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), is aiming to have a gas and LNG business with a capacity of between 20 million and 25 million metric tons a year by 2035, the company said in a statement on Tuesday.XRG was set up last year as an investment company focused on lower-carbon energy, gas and chemicals, with assets of more than $80 billion.On Tuesday, its board, whose members include former BP BP.L CEO Bernard Looney and Blackstone's Jon Gray, approved the capacity target and a new five-year business plan.
Trinidad and Tobago Increases LNG Production in May at Atlantic Facility
Exports of liquefied natural gas from Trinidad and Tobago's flagship Atlantic LNG export facility increased by 43% in May compared to April, according to LSEG preliminary ship tracking data.Trinidad is Latin America's largest LNG exporter and its flagship plant, Atlantic LNG, is jointly owned by Shell and BP with a capacity to produce 12 million metric tons per annum (mtpa) of the superchilled gas.In May Atlantic exported 0.83 mtpa of LNG, up from 0.58 MT in April, LSEG data showed.Similar to the U.S., Europe bought the majority of cargoes sold by Atlantic, while the rest went to Asia and Latin America.
XRG aims to achieve a gas and LNG capacity of 20-25 millions tons per annum by 2035
XRG (the international investment arm) of Abu Dhabi National Oil Company said on Tuesday that it aims to be a gas and Liquefied Natural Gas business with a capacity between 20 and 25 millions metric tons annually by 2035. XRG, which is led by former BP CEO Bernard Looney, and Blackstone's Jon Gray approved a business plan for five years that aims to build an integrated LNG and gas business, including the target of capacity, XRG stated in a press release. XRG reported that the board "also…
Viper Energy increases Permian Basin Presence with $4.1 Billion Sitio Deal
Viper Energy has acquired Sitio Royalties, valued at $4.1 billion including debt. The companies announced this on Tuesday. This will increase the inventory and scale of Diamondback Energy's Permian basin unit. Sitio shares rose 11.9% premarket to $19.38 following the announcement. Dealmaking in the U.S. Despite the low oil prices and uncertainty in the market, the Permian Basin is still a lucrative investment. Permian Energy, a New Mexico-based energy firm, announced last month that it would acquire New Mexico Permian assets for 608 million dollars from APA Corp.
Trump's budget cuts threaten U.S. jobs in renewable energy
By Carey L. Labor leaders claim that federal tax credits under the former president Joe Biden for green energy production and construction have created an influx of new jobs - inspiring young workers to participate in the U.S. transition towards energy in a rapidly aging sector. "We were slammed, pretty much full employment. Everyone was making plenty money," said Kilton webb, an electrician from Maine who saw his job opportunities skyrocket following a 2022 legislation that created the incentives.
Abu Dhabi's XRG aims to reach a gas and LNG capacity of between 20-25 million tonnes per year by 2035
XRG is the international investment arm for Abu Dhabi National Oil Company. The company stated in a Tuesday statement that it aims to have a business of gas and LNG with a production capacity between 20 and 25 million metric tonnes per year by 2035. XRG, a company that invests in lower-carbon energy sources, gases and chemicals with assets exceeding $80 billion, was established last year. The board of the company, which includes former BP CEO Bernard Looney, and Blackstone's Jon Gray on Tuesday, approved a capacity target as well as a five-year plan.
