Trump administration sues Hawaii and Michigan to block planned lawsuits on climate change
The Trump administration sued Hawaii and Michigan in an attempt to prevent them from suing major oil companies for their role in climate changes. They accused the Democratic-led state of overreach, and threatening domestic energy production. A lawsuit has not been filed by either state. Hawaii Governor Josh Green said to a local television station that Hawaii plans to sue fossil-fuel companies by Thursday.
The Trump administration sueded Michigan to stop a planned climate change lawsuit
The Trump administration sued Michigan to stop it from suing oil companies for their role in climate change. They claimed that the Democratic-led Michigan was blocking domestic energy production. In a late-night lawsuit filed in Michigan, the U.S. Department of Justice said that the state's intention to sue would have an "extraordinary extraterritorial scope" and undermine federal regulations on greenhouse gas emissions as well as the administration's goals for foreign policy.
EIA reports that US oil production rose in February, as New Mexico set a record.
The U.S. Energy Information Administration reported on Wednesday that the total crude oil production in the United States increased slightly in February, as Texas and New Mexico, two of its top producers reversed recent declines by pumping more barrels. The data revealed that the oil output of the world's largest producer, Saudi Arabia, rose by about 29,000 barrels a day in February. The data revealed that Texas…
Trump Administration kicks off plan to expand offshore drilling
The U.S. The U.S. Donald Trump ordered the government to find ways to increase U.S. oil production. He argued that previous administrations had curtailed drilling unnecessarily to combat climate changes. He also rescinded the efforts of former president Joe Biden to stop oil drilling in the Arctic, and large areas along the U.S. Atlantic Coast and Pacific Coast. In a recent press release, Interior Secretary Doug Burgum stated that "Under the leadership of President Donald J.
US considers cutting funding to four of seven hydrogen hubs
According to a source familiar with the issue, the U.S. Department of Energy has considered cutting funding to four of seven hubs for hydrogen that were chosen under a $7-billion federal program. The hubs are part of the effort by former President Joe Biden to decarbonize U.S. economics. They aim to boost the production of clean hydrogen and the infrastructure required to deliver it to industrial users such as steelmakers and Cement plants.
Brazil adheres to OPEC+ Cooperation letter; No output caps
The Brazilian energy ministry announced on Tuesday that the country has decided to adhere the OPEC+ declaration of cooperation. This formalizes a decision it first made in 2023. Brazil is the biggest oil producer in South America. According to the country's oil regulator, its output will reach 4.32 million barrels equivalent per day by 2024. The group will include nations like Saudi Arabia and Russia, but it is not expected to participate in the coordinated output cap.
Experts say that Russia is struggling to meet its LNG targets
Experts said that due to the international sanctions, Russia's LNG exports will probably not reach 67 million tons by 2030. This is far below its target of 100 million tons. Russia is focusing on developing LNG that can be transported by sea tankers as its gas exports from pipelines to Europe are down due to the conflict in Ukraine. It has also struggled to increase LNG to China. The company plans to increase its market share to the fifth position on the global LNG markets by 2030-2035.
New York City dismisses climate change lawsuit against Exxon BP Shell
A judge dismissed New York City’s lawsuit against Exxon Mobil and BP for misrepresenting their products and commitment to renewable energy, as well as their fight against climate change. Anar Patel, a state Supreme Court justice, ruled on Tuesday that the city cannot claim to have climate-conscious citizens, but then let them down by oil companies who fail to disclose the contribution of their fossil fuels to climate change.
Huafu fashion is among 37 Chinese companies that the US has banned imports of due to forced labor by Uyghurs.
The Department of Homeland Security announced on Tuesday that the United States had banned imports of 37 companies from China over allegations of human rights abuses against the Uyghurs. These companies are in the textile, mining, and solar industries. Huafu Fashion Co. is one of the largest textile companies in the world, along with 25 of its subsidiaries. The U.S. accuses them of forced labor practices in China's Cotton Industry.
Trump announces that he will immediately revoke the offshore drilling ban imposed by Biden
Donald Trump, the U.S. president-elect, said Tuesday that he would move quickly to lift a ban on offshore oil and natural gas drilling announced by Joe Biden, the outgoing Democratic president. "Banning off-shore drilling will not hold. Trump announced at a press conference that he would reverse the ban immediately. The Republican Trump will take office on January 20, but it may be difficult to reverse Biden’s…
After gas cutoff, the breakaway region of Moldova faces prolonged blackouts
Local authorities reported that Saturday saw a longer period of rolling power outages in Transdniestria (the pro-Russian breakaway region of Moldova), which is now without Russian gas because it no longer transits through Ukraine. The flow of Russian gas through Ukraine into central and eastern Europe ceased on New Year's Day, after the transit agreement between the two warring nations expired and Kyiv refused a renewal.
EIA increases US and global oil production estimates by a small amount
The U.S. Energy Information Administration announced on Wednesday that both U.S. oil production and global oil output are expected to reach record highs in this year, slightly higher than previous forecasts. Oil prices have fallen to their lowest level since 2021 despite the Organization of the Petroleum Exporting Countries (OPEC+) and its allies cutting production. The EIA reported that the U.S. oil production is expected to reach an average of 13.23 million barrels a day (bpd)…
New Fortress Energy anticipates lower LNG volume in the fourth quarter
Wesley Edens, CEO of New Fortress Energy's energy infrastructure division, said that the company expects a slight drop in liquefied gas (LNG), in the fourth quarter of 2024 due to repairs performed in October on a valve. Edens stated on a quarterly earnings call that its floating LNG facility off the coast of Altamira in Mexico had completed its commissioning and was now operating at 105% its 1.4 million metric ton per annum nameplate capacity.
Trader Wilmar reduces projections for Brazil sugar production
Wilmar International, a commodities trader based in Asia, cut its forecasts for sugar production by Brazil in 2024/25 due to the rapid decline in agricultural yields and quality of canes caused by fires and dryness in farmland. Wilmar now expects Brazil’s Centre-South production to be between 38.2 million metric tons and 39.5 millions metric tons. This is down from the 38.8-40.8% tons that were seen in September.
US Proposal Would Allow Oil and Gas Drillers to Delay Royalty Payments
The U.S.
Halliburton Cuts 350 Jobs in Oklahoma
Oilfield services giant Halliburton on Monday said it will lay off an estimated 350 employees in Oklahoma, according to a filing with the state, as the spread of coronavirus and a price war between Russia and Saudi Arabia sent energy prices reeling.The layoffs are anticipated to begin this week at its Duncan, Oklahoma facility, the filing said, and will be permanent. The facility is expected to remain open. (Reporting by Liz Hampton, Editing by Franklin Paul)
Icahn Sells Nearly a Third of His Oxy Stake
Activist investor Carl Icahn, who has been waging a bitter battle against Occidental Petroleum Corp's board over its $38 billion acquisition of Anadarko Petroleum, cut his holdings in the oil and gas producer by nearly a third, according to an open letter to shareholders released on Friday.Icahn has opposed the deal as "hugely overpriced" and a misplaced bet-the-company gamble on oil prices rising, and urged…
TransCanada Formally Seeks Damages over Keystone XL Rejection
TransCanada Corp is formally requesting arbitration over U.S. President Barack Obama's rejection of the Keystone XL pipeline, seeking $15 billion in damages, the company said in legal papers dated Friday. Obama rejected the Canadian company's cross-border crude oil pipeline last November, seven years after it was first proposed, saying it would not make a meaningful long-term contribution to the U.S. economy. (Reporting by Ethan Lou in Toronto, Editing by Franklin Paul)
Nexen: Crews Working Around the Clock at Spill Site
Canada's Nexen Energy said on Friday its crews were working "around the clock" to clean up a pipeline leak at an oil sands site in northern Alberta that is one of North America's largest environmental spills on land. The wholly owned subsidiary of CNOOC Ltd said it detected the spill at its Long Lake facility on Wednesday afternoon. The pipeline leaked 31,500 barrels of emulsion, a mixture of bitumen, water and sand.
Reactor Spills About 3,000 Gal. of Fluid into Hudson River
Entergy Corp said on Friday that about 3,000 gallons of dielectric fluid escaped from the transformer of the Indian Point 3 nuclear power reactor in New York and leaked into the Hudson River following a transformer failure on May 9. The company intends to conclude investigations of the cause of the transformer failure by the end of June. Entergy said on May 11 that the 1,031-megawatt unit reactor, located along the Hudson River about 45 miles (72 km) north of Manhattan…
