ENTEK wins $1.3 billion US Loan for EV Battery Plant
The U.S. Department of Energy's loans office said on Friday it has finalized a loan of $1.3 billion to ENTEK Lithium Separators to finance a plant in Indiana for making lithium-ion battery separators used mostly in electric vehicles.WHY IT'S IMPORTANTThe Loan Programs Office is racing to finalize billions of dollars in loans to companies developing cutting-edge technologies expected to help speed an energy transition and curb climate change.The loan was offered conditionally in July through the LPO's Advanced Technology Vehicles Manufacturing Loan Program…
US Awards up to $2.2 Billion to Speed Clean-hydrogen Development
The U.S. Department of Energy announced on Wednesday that it had awarded up to $2 billion to centers in the Gulf Coast and the Midwest for the development of hydrogen, a new source of energy which is costly to produce with renewable power. Hydrogen supporters, such as the administration of Joe Biden believe that low carbon hydrogen can combat climate change by fueling industries like aluminum, cement and steel, along with long-haul transport. Most hydrogen produced today is made from fossil fuels, which emit unabated gases. This produces hydrogen at a fraction the price of clean hydrogen.
Sources say that Whiting refinery, a BP facility in Indiana, is delaying its return to service.
Industry sources say that the return to service for BP Whiting Indiana refinery is delayed. BP began the planned turnaround activity for its refinery that produces 435,000 barrels per day in late September. In early November, the refinery restarted units that were involved in the turnaround. Sources claim that at least two units are experiencing startup delays. Sources said that the refinery's 250,000 barrels per calendar day (bcd), sour crude distillation unit, and its 102,000 bcd coker had issues with the restart. These units should be online by this week.
BP's Whiting IA Refinery Restart Delayed
The return to service of BP's BP.L Whiting, Indiana refinery has been delayed, industry sources said.BP started the planned turnaround work at its 435,000 barrel-per-day refinery in late September. The refinery began restarting units involved in the turnaround in early November. A source said at least two of the units have experienced startup delays. The units are expected to be back online this week, the source added.
US Supreme Court will not halt EPA power plant emission rule
The U.S. Supreme Court refused on Wednesday to suspend a new federal regulation targeting carbon pollution from coal and gas-fired plants, despite the requests of many states and industry groups. This is another major setback to President Joe Biden’s efforts to fight climate change. The Justices refused emergency requests from West Virginia, Indiana, and 25 other states, most of which are Republican-led, as well as by power companies and industry association to stop the Environmental Protection Agency regulation while litigation is ongoing in a lower-court.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024. This is up from 1.4m registrations in 2023 and represents the steepest growth rate ever in EV adoption in the country. AFDC data show that the number of public EV chargers has increased by just 22% in the same time period to 176 032 units.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024. This is up from 1.4m registrations in 2023 and represents the steepest growth rate ever in EV adoption in the country. AFDC data show that the number of public EV chargers has increased by just 22% in the same time period to 176 032 units.
US offers conditional loan of $1.56 billion for Indiana ammonia plant
The U.S. Department of Energy announced on Monday that it has granted Wabash Valley Resources a conditional guarantee of up $1,56 billion for the construction of a low-emissions production facility of ammonia in Indiana. It said that the project would use petcoke as a waste product from oil refining to produce 500,000 tons of ammonia per year and store carbon dioxide permanently underground. In a statement, DOE stated that the company must meet certain technical, legal and environmental conditions, as well as financial requirements, before it can provide the loan guarantee.
U.S. Crude Stocks Rise Unexpectedly - EIA
U.S. crude oil inventories rose unexpectedly last week, hitting their highest levels since July 2017, due to weak refinery output, particularly in the Midwest, the Energy Information Administration said on Wednesday.Crude inventories rose 4.7 million barrels in the week ended May 17, compared with analysts' expectations for a decrease of 599,000 barrels. That boosted overall crude inventories, not including the U.S. government's Strategic Petroleum Reserve, to 476.8 million barrels…
Higher Output Cushions BP's Profit Fall
BP's first quarter profits fell by nearly a third but beat forecasts as lower oil and gas prices and weaker refining margins were partly offset by higher production and stronger trading.The slump in profits marks the first significant dent in BP's steady recovery over the past 18 months following the sector's 2014 downturn."We produced resilient earnings and cash flow through a volatile period that began with weak market conditions and included significant turnarounds," Chief Executive Officer Bob Dudley said in a statement.BP shares were up 0.5 percent by 0933 GMT…
New Hires Boost RCG US Team
The Renewables Consulting Group (RCG), has announced the appointment of several new hires in its New York office to support the accelerating offshore wind market in the United States and renewable energy projects worldwide. The experienced personnel include AJ Negrelli, Emily Kuhn, and Craig Hutchinson.Negrelli is a respected project manager and engineer with practical experience delivering offshore wind construction projects, working for the major wind turbine supplier Siemens Gamesa Renewable Energy.
EPA Announces Funding to Reduce Diesel Emissions
Preference given to fleets in areas facing air quality challenges. The U.S. Environmental Protection Agency (EPA) announced the availability of grant funding to modernize the nation’s diesel fleet by retrofitting or replacing vehicles with cleaner, more efficient diesel engines. EPA anticipates awarding approximately $40 million in Diesel Emission Reduction Program (DERA) grant funding to eligible applicants, subject to the availability of funds. “These grants will incentivize improvements to aging diesel fleets and improve air quality throughout the country…
U.S. Midwest Refiners Boost Output
U.S. refineries from Ohio to Minnesota are capitalizing on access to cheap crude from Western Canada and North Dakota oilfields, helping their region break a historic dependence on fuel from the Gulf Coast while redrawing oil trade maps. Since the early 2000s, crude and fuel flows from the Gulf Coast into the U.S. heartland have been cut in half, as crude coming from Canada and North Dakota has pushed U.S. Midwest refining activity to record levels. In 2016, Midwest refining capacity rose to 3.9 million barrels per day (bpd) of crude, the highest annual volume on record.
US Solar Industry's Growth Region: Trump Country
President Donald Trump's administration has vowed to revive the coal industry, challenged climate-change science and blasted renewable energy as expensive and dependent on government subsidies. And yet the solar power industry is booming across Trump country, fueled by falling development costs and those same subsidies, which many Republicans in Congress continue to support. Data provided to Reuters by GTM Research, a clean energy market information firm, shows that eight of the 10 fastest-growing U.S.
Refiners Shun New Canadian Crude Blend
Enbridge Inc has approved a new stream of heavy Canadian crude for export on one of its major oil pipelines to the United States, according to four trading sources. The only problem? No one wants it. Canada produces more heavy than light crude because of its vast oil sands projects in northern Alberta. Space on the Enbridge system for heavy barrels is in short supply, with congestion set to worsen as oil sands production grows. Enbridge's plan to squeeze more heavy crude onto…
Valero Says Fire Extinguished at Indiana Ethanol Plant
A fire at an ethanol plant in southern Indiana was extinguished quickly on Monday, owner Valero Energy Corp told Reuters on Tuesday, and ethanol industry sources said the facility could be down for as long as a week. There were no injuries in the fire early on Monday at the 110 million-gallon-a-year plant in Mount Vernon, Valero spokesman Steven Lee said. He declined to elaborate on the facility's operations. A source familiar with the operations said the plant would be idled for at least a few days in order to repair a grain dryer where the fire occurred.
Report: Slack Management Exposed BP to Risk
BP's refining operations are exposed to high safety risks that can lead to deadly accidents and pollution as a result of slack management and a lack of investment, according to a leaked internal report from 2015. The report, co-authored by BP, IBM and industry consultancy WorleyParsons, states that the British company's refining and petrochemical business, known as downstream, is trailing rivals such as Royal Dutch Shell by up to seven years in managing information to reduce safety risks and financial losses.
Conservationists Sue to Halt Fracking in Ohio National Forest
Four conservation groups on Tuesday sued the U.S. Forest Service and Bureau of Land Management in an attempt to halt fracking plans in a portion of Ohio's only national forest. The suit, filed in U.S. District Court in Columbus, argues that the federal agencies failed to sufficiently analyze risks to watersheds, public health, climate and endangered species including Indiana bats, before auctioning 670 acres (270 hectares) in December of the Wayne National Forest in southeast Ohio for eventual hydraulic fracturing, or fracking, of underground shale.
Bytes and Barrels: the origins of oil traders' love of Yahoo
For the oil industry, Yahoo Inc's decision this week to sell its core business to Verizon Communications Inc for $4.8 billion does not matter all that much. Their world already changed a few months ago, when the company said it would jettison its messaging system that has been the norm for oil traders since the late 1990s. Back then, Yahoo's technology revolutionized the industry, helping usher in a new era of high-speed communication that changed the way millions of barrels of oil traded daily.
Changes in ExxonMobil’s Top Deck
Tom Walters, president, ExxonMobil Production Company, has announced his intention to retire after more than 38 years of service. Neil Duffin, currently president of ExxonMobil Development Company, has been appointed by the Exxon Mobil Corporation (NYSE:XOM) board of directors to be president of ExxonMobil Production Company and elected to be a vice president of the corporation. Liam Mallon, currently executive vice president of ExxonMobil Development Company, has been elected president of ExxonMobil Development Company by its board of directors. All changes are effective Jan.
