Sunday, July 12, 2020

Energy News

Wave of N. American Oil and Gas Bankruptcies to Continue at $40 Oil

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A wave of oil and gas bankruptcies in North America is likely to continue this year as oil prices remain depressed and a new surge of COVID-19 cases threaten to stall any recovery in fuel demand…

Oil Industry Veterans to Launch Hydrogen Investment Fund

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Two energy industry veterans plan to launch an investment fund focused on hydrogen this year as more and more governments include the niche fuel in their global warming battle plans.Hydrogen…

China: BP, ENN Sign 300,000t a Year Gas Supply Deal

Image Credit: BP

British oil major BP has signed a gas supply agreement with China's ENN Group (ENN) for the supply of 300,000 tonnes per year of pipeline gas re-gasified from LNG for two years from January 1, 2021, in Guangdong, China.

Japan to Develop Offshore Wind Farms at 30 Sites in 10 years

Japan will craft new rules and support infrastructure in a drive that aims to build offshore wind farms at 30 sites during the next decade, the Nikkei business daily said on Thursday.Industry…

US LNG Exports at 20-month Low

(File photo: Freeport LNG)

Natural gas flows to U.S. liquefied natural gas (LNG) export plants plunged this month after falling to a 20-month low in June as coronavirus lockdowns cut global demand for the fuel.Before the pandemic slashed energy demand, U.S.

This Energy Source Can Support Your Sustainability Goals Without Wrecking Your Budget

Photo courtesy of PERC

Port operations are so all-encompassing and downright dynamic that they operate almost like miniature cities. So it’s no surprise these key transition points in the global supply chain…

Iran's Oil Storage Almost Full as Sanctions and Pandemic Weigh

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Iran has slashed crude oil production to its lowest level in four decades as storage tanks and vessels are almost completely full due to a fall in exports and refinery run cuts caused by the coronavirus pandemic…

US Approves LNG Exports from Oregon

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The U.S. Energy Department on Monday approved the export of up to 1 billion cubic feet per day of liquefied natural gas from a proposed terminal in Oregon, a move it said would ease U.S.

Japan's LNG Investments Drive Faces Risk of Souring

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Japan's banks and public agencies have funneled nearly $25 billion into liquefied natural gas (LNG) projects since 2017 but the investments may sour as prices plummet from the COVID-19 pandemic and as climate change risks rise…

Malaysia to Sue EU Over Palm Biofuel Restrictions

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Malaysia, the world's second-largest palm oil producer, will take legal action against the European Union's restrictions on palm oil-based biofuels with the World Trade Organization (WTO)…

DNV GL: Oil Demand, CO2 Emissions Probably Peaked in 2019

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Global oil demand and carbon dioxide emissions probably peaked in 2019 as the COVID-19 pandemic will have a lasting impact on both, energy consultancy DNV GL said on Wednesday.The Norway-based consultancy…

World First Full Scale 'Ammonia as Fuel' Marine Four-Stroke Engine Test

The project leaders pictured at the Sustainable Energy Catapult Center’s test facility at Stord, Norway from left to right: Egil Hystad, Wärtsilä, Willy Wågen, Sustainable Catapult, and Kjell Storelid, Wärtsilä. (Photo: Wärtsilä)

While there is no consensus on the marine industry ‘fuel of the future’ that will meet ever tightening international emission mandates, a group of organizations has commenced what it is calling the world’s first long-term…

Shell to Write Down $22B in Wake of Coronavirus

Shell Logo / Image by Alexandr Blinov - AdobeStock

Royal Dutch Shell said on Tuesday it would write off assets worth up to $22 billion after the coronavirus crisis knocked oil and gas demand and weakened the energy price outlook.The impairments…

Shale Pioneer Chesapeake Energy Files for Bankruptcy

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Chesapeake Energy Corp filed for Chapter 11 on Sunday, becoming the largest U.S. oil and gas producer to seek bankruptcy protection in recent years as it bowed to heavy debts and the impact…

China's Sinopec Starts Hiring for New Risk Management Unit

Sinopec Logo: Image by Alexey Novikov - AdobeStock

China Petrochemical Corp, or Sinopec Group, has started hiring for six top management positions for a new commodities risk management unit, according to a statement posted on the state…

BP to Sell Petrochemicals Business to Ineos for $5B

Image Credit: BP

British oil major BP will sell its global petrochemicals business to Ineos for $5 billion, a transaction delivering BP's divestments target a year earlier than originally scheduled.Brian Gilvary…

India to End Federal Control of Gas prices, Lift LNG transport Use

New Delhi -  Credit:KT759/AdobeStock

India will gradually end federal controls on gas pricing as it seeks to attract foreign investment and technology to lift local output, oil minister Dharmendra Pradhan said on Friday.India…

China's Saudi Oil Imports Surge to All-time High

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China's crude oil imports from Saudi Arabia nearly doubled in May from a year earlier to all-time high as refineries snapped up cheap fuel, while the kingdom retained its position as the…

UK Gov't Advised to Harness Pandemic to Speed Zero-carbon Aims

Illustration; Offshore wind farm - Credit:pauws99/AdobeStock

From creating jobs in home insulation to hiking dirty fuel taxes and expanding electric-vehicle charging, Britain's government should harness the COVID-19 pandemic to accelerate cuts in planet-heating emissions…

EU Hydrogen Plan Splits Supporters Down Color-coded Lines

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Energy industry lobbyists and advocates of renewable hydrogen are divided over whether the bloc should support low-carbon hydrogen produced by fossil fuels ahead of a new EU strategy next…