Chevron CEO: No discussions on Venezuela with President-elect Trump
Michael Wirth, CEO of Chevron, said that the company hasn't had any talks with Donald Trump or his team about its operations in Venezuela. The first Trump administration will end in 2019. Petroleos de Venezuela, the state-owned oil firm in Venezuela, was targeted to reduce its oil exports. It also hoped to force a change of government. Chevron…
LNG traders divert cargoes to Asia from Europe as demand in the east increases
Analysts and shipping data indicate that three LNG cargoes bound for Europe were diverted to Asia in order to meet the stronger Asian demand, and because gas prices have decreased in Europe. The rapid change of course shows the agility of the trading firms to send LNG supplies either to Europe or Asia. As Asian prices rise, the arbitrage window for sending U.S. and African Liquefied Natural Gas to Asia opens.
LNG can solve Europe's gas problems, but it comes at a cost: Russell
The fears that Europe will face a shortage of natural gas this winter are exaggerated. The liquefied gas (LNG), market has already taken steps to prevent any shortage, although at higher prices.The price of natural gas in Europe reached its highest level in over two years on November 22, when the benchmark contract for the front-month contract, at the Dutch TTF Hub, reached 49.03 euros/megawatt hour.
Researchers say that a late-season storm could disrupt the US oil production by 4 million barrels.
Researchers said that a late-season tropical storm, which is predicted to intensify this week into a Category 2 hurricane in the U.S. Gulf of Mexico, could reduce U.S. crude oil production by approximately 4 million barrels. Storm Rafael, which was in the Caribbean Sea on Monday evening, is expected to move into the Gulf of Mexico via a path that will take it through oil-producing regions.
Researchers say that a late-season storm could disrupt the US oil production by 4 million barrels.
Researchers said that a late-season tropical storm, which is predicted to intensify this week into a Category 2 hurricane in the U.S. Gulf of Mexico, could reduce U.S. crude oil production by approximately 4 million barrels. Storm Rafael, which was in the Caribbean Sea on Monday evening, is expected to move into the Gulf of Mexico via a path that will take it through oil-producing regions.
Baker Hughes will supply pipe systems for Brazil's Petrobras
Baker Hughes, a provider of oilfield services, announced on Monday that it had signed an agreement with Petrobras to provide 77 kilometers (47.85miles) of flexible pipe system for Brazil's Santos Basin pre-salt field. Santos Basin, an offshore oil and gas-rich region off Brazil's southeast Atlantic coast. The basin is the largest in the country…
AG&P LNG acquires Australia's Venice Energy and develops South Australian import terminal
The Singapore-based Atlantic, Gulf and Pacific LNG (AG&P LNG) has agreed to acquire the Australian energy infrastructure developer Venice Energy and build its Outer Harbor Import Terminal in South Australia. AG&P LNG aims to have the LNG import terminal at Port Adelaide operational by the first quarter 2027. This was stated in a Thursday statement. The terminal will have an annual import capacity of two million metric tonnes.
CorPower Ocean, a wave energy technology company, has secured 32 million Euros.
The firm announced on Wednesday that it had secured funding of 32 million euros ($35 millions) to help commercialise wave energy technology. Wind and tidal projects are being developed in some countries to reduce emissions and achieve climate goals. The wave power industry is still in its early stages of commercialisation and costs are high. It is also more predictable than the wind power.
Sources say that Shell is the preferred bidder in Trinidad for a shallow water block
Three people familiar with the process have confirmed that Trinidad and Tobago has selected Shell as its preferred bidder to bid on a shallow-water block. This bidder beat out BP and EOG Resource. Trinidad and Tobago's natural gas production has declined in recent years, and the country has struggled to supply its petrochemical and liquefied gas plants.
Eneos, a Japanese company, will buy a 20% stake in the floating offshore wind project of Norway
Eneos Holdings, Japan's largest oil refiner, said Wednesday that its renewable energy unit had agreed to purchase a 20% stake of the GoliatVind project in Norway to gain expertise and knowledge for Japan. Japan is only at the beginning stages of developing floating offshore wind, but it sees this as essential for its goal to develop up to 45 gigawatts of offshore wind by 2040.
Woodside Energy's first-half profits drop on lower oil prices
Woodside Energy, based in Australia, reported a 14 percent drop in first-half profits on Tuesday due to price volatility and lower realized oil prices. Oil prices have been choppy due to supply chain disruptions caused by tensions in the Middle East, and China's economic recovery is being hampered by weak domestic consumption. Woodside's average…
Vietnam's second LNG Terminal seeks cargo for commissioning tests
Two industry sources have confirmed that the Cai Mep terminal in Vietnam is looking for a cargo so it can begin commissioning tests. This will make the terminal the second terminal in Vietnam to receive the fuel. In order to reduce its reliance on coal and increase the amount of electricity generated by the country, Vietnam is planning to build LNG import terminals as well as a fleet 13 LNG-fired plants.
Vietnam's second LNG Terminal seeks cargo for commissioning tests
Two industry sources have confirmed that the Cai Mep terminal in Vietnam is looking for a cargo so it can begin commissioning tests. This will make the terminal the second terminal to import the fuel. In order to reduce its reliance on coal and increase the amount of electricity generated by the country, Vietnam is planning to build LNG import terminals as well as a fleet 13 LNG-fired plants.
Jordan LNG terminal awarded to AG&P consortium
A company statement said that the Singapore-based Atlantic, Gulf and Pacific, as part of a group, was awarded a contract for building an LNG terminal onshore in Jordan. The onshore Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah terminal will be constructed at the Port of Aqaba and will have a capacity of 720 millions standard cubic feet per daily (mmscfd).
Equinor and Dominion win US Central Atlantic Offshore Wind Auction
The Interior Department announced on Tuesday that Equinor, a Norwegian company, and Dominion, a U.S.-based power company, were the successful bidders at an auction by the U.S. Government for two offshore wind areas near the coasts Delaware, Maryland, and Virginia. The Biden administration's offshore wind lease auction generated bids of less than $93 millions, placing it as one of the least profitable. The U.S.
Sources say that Petrobras has obtained environmental licenses for Brazil's oil production to increase.
Three people familiar with the matter said that Brazil's state oil company Petrobras obtained environmental permits to expand production at two offshore fields and one vessel could start earlier than expected. Petrobras can now increase production at the Mero and Buzios oil fields. Buzios will benefit from the early launch of the FPSO vessel Almirante Tamandare (floating production, storage and offloading).
Markets: The Challenges of Developing Floating Wind at Scale
Tens of gigawatts of floating wind projects are slated for development in this and the next decade, but many obstacles remain.There has been much focus on the emerging floating wind market of late.The U.K. is forging ahead with commercial scale floating wind developments through the Scotwind and INTOG awards of at least 24 gigawatts (GW) of floating wind capacity representing close to 1…
Pick your Poison: NOAA Study Finds Less Air Pollution brings more Hurricanes
A new study from NOAA finds that reducing air pollution in North America & Europe brings more hurricanes; increased pollution in Asia reduces tropical cyclonesA NOAA study published in the journal Science Advances about four decades of tropical cyclones reveals the surprising result that reducing particulate air pollution in Europe and North America…
What to Expect from the US Offshore Wind Market This Year
After many false starts, the U.S. offshore wind market is building strong roots for a solid future. But as the market develops from its current northeast and mid-Atlantic niche new opportunities and challenges arise.The U.S. offshore wind market has long been seen as not delivering on its significant potential. With an offshore wind technical potential of more than double that of the country’s total annual electricity sales…
Sustainable Marine Preps to Feed Tidal Energy into Nova Scotia Grid
Sustainable Marine is poised to push the button and feed zero emission electricity generated from the tidal flows in the Bay of Fundy into the Nova Scotia grid, an achievement that follows several months of intense activity in the Bay of Fundy by Sustainable Marine’s Canadian, British and German team, supported by an international network of supply chain partners.After laying a 1km underwater cable in late January…
