Edison CEO: US utilities want Trump and Republicans to save the inflation act
Pedro Pizarro said that the U.S. Utility Industry wants the incoming Trump Administration and the Republican-led Congress in Congress to maintain clean energy and EV Tax Credits in the Inflation Reduction Act. The 2022 IRA is a law that contains hundreds of billions in subsidies for clean power and was signed by outgoing president Joe Biden to combat climate changes. Donald Trump, the president-elect and climate skeptic who will be taking office, has pledged to repeal it. This would require Congress' support.
Edison International says that California's climate goals will be met only with more clean energy. Edison International CEO says
Edison International's chief executive told reporters on Wednesday that to fully decarbonize California's electric grid, it will be necessary to use more clean energy sources, such as advanced geothermal, natural gas, and carbon-captured natural gas. California, the most populous state in the United States, has set itself a goal of producing zero net emissions through its electrical grid. Renewable energy sources such as solar and wind will play a major role in California's plans for power generation.
Skarfjell becomes tie-back to Gjøa
DEA and its partners in PL418 have selected a subsea tie-back to the Gjøa platform as the concept for development of the Skarfjell discovery in the Norwegian North Sea. This alternative is an enabler for developing the Gjøa platform as a stronger hub in the area and maximising recovery for Gjøa, Skarfjell and the area in general. Skarfjell is situated in the northeastern North Sea, approximately 20 kilometers southwest of the Gjøa platform. DEA is partner in Gjoa, with a share of 8%.
Argentine Judge Orders Seizure of Falklands Drillers' Assets
An Argentine judge has ordered the seizure of assets of oil drilling companies operating in the Falklands Islands, including property held by U.S. firm Noble Energy, as the country takes a firmer line on the disputed territory ahead of October elections. Lilian Herraez, a federal judge in Tierra del Fuego, ordered the seizure of $156 million in bank accounts, boats and other property, the government said on Saturday. The companies named in the order were Premier Oil Plc…
California Has Enough Power for Summer Air Conditioning Demand
California will have enough power to meet air conditioning demand this summer despite continued low hydropower supplies due to an ongoing multi-year drought. The California Independent System Operator (ISO), the power grid operator for most of the state, said in a statement released late Thursday that the grid will benefit from new generation, mostly solar, stable imports and moderate peak demand growth. "It is always a challenge to operate the grid under the high loads produced by sweltering summer temperatures…
Argentina Launches Lawsuit Against Falklands Oil Drillers
Argentina announced on Friday it had started legal proceedings in one of its own courts against five British and American companies drilling for oil and gas in the Falkland Islands, a move Britain denounced as bullying. Britain defeated Argentina in a 1982 war over the South Atlantic islands and administers them as an overseas territory, whose population of around 3,000 voted overwhelmingly to remain under British rule in a referendum in 2013.
Eni Wins Two Exploration Licenses in Norway
Italian oil and gas group Eni said on Tuesday it had won two exploration licenses in the Barents sea and in the North Sea in Norway. Following the award, Eni is now operator of the PL 806 area in the Barents Sea with a 40 percent stake, while E.ON E&P , Edison International and Petoro are partners with 20 percent each, it said in a statement. In the North Sea's PL 044 C area Eni is partner with a 13.12 percent stake, along with Statoil (30 percent) and Total (15 percent)…
Statoil: Gas discovery in Pingvin
Operator Statoil has together with PL713 partners made a gas discovery in the Pingvin prospect in the Barents Sea. The discovery is a play opener in a frontier unexplored area of the Barents Sea northwest of Johan Castberg. The discovery well 7319/12-1, drilled by the drilling rig Transocean Spitsbergen, proved a 15-metre gas column in the well path. Statoil estimates the volumes in Pingvin to be in the range of 30-120 million barrels of recoverable oil equivalent. The discovery is currently assessed as non-commercial.
RWE Dea Awarded Two New Concessions in Egypt
In the International Bid Round 2013, RWE Dea has been awarded two new offshore concessions with operatorship by the Egyptian General Petroleum Corporation (EGPC). The concessions are located in the Gulf of Suez, where the company is producing oil as operator for more than 30 years. Dea will become operator of two new concessions in the Gulf of Suez. Dea will hold a share of 100% of the East Ras Fanar Offshore and 50% of the Northwest El Amal concession, with Edison International SpA holding the remaining 50%.
Rosneft & Statoil to Explore Norwegian Continental Shelf
18th of August, Rosneft together with Norwegian company Statoil Petroleum AS started exploration operations at the Pingvin License PL713prospect in the Norwegian section of the Barents Sea. The first exploration well Pingvin-1 will be drilled by the Transocean Spitsbergen rig. The water depth is 422 meters and the drilling target total vertical depth (TVD) is 1516 meters. The companies expect to analyse the drilling results until the end of 2014.
Rex IH Gives Norway Drilling, License Updates
Rex International Holding Limited, one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, shared its latest developments in its Norway portfolio, held through its 65 percent owned indirect subsidiary, Lime Petroleum Norway AS and investee company, North Energy ASA. Måns Lidgren, Chief Executive Officer of Rex International Holding, said, “Besides growing our portfolio through farm-ins…
U.S. Expects 10 % Drop in Nuclear Capacity By 2020
Lower natural gas prices and stagnant growth in electric demand will lead to the loss of 10,800 megawatts of U.S. nuclear generation, or around 10 percent of total capacity, by the end of the decade, the U.S. Energy Information Administration said in a report issued on Monday. About 6,000 MW of nuclear capacity will shut by 2020 in addition to six reactors totaling 4,800 MW that have already shut or plan to shut in that time period, the EIA said in its 2014 annual electric output study.
