Interra claims that oil contract was signed with Myanmar before the junta took power
Interra Resources, a Singapore-listed oil explorer, said Thursday that a production sharing contract between its subsidiary in Myanmar and a government-controlled entity was extended several years before 2021. The statement was made in response to an inquiry by the Singapore Exchange…
Trump's USDA Secretary pick led group against ethanol and farm subsidies
According to an analysis of the group's policies, President Donald Trump's choice to lead the Agriculture Department is Brooke Rollins. She led an organization opposed to ethanol mandates as well as farm subsidies. These are major programs that she could influence, if confirmed. Rollins'…
Trump's USDA Secretary pick led group against ethanol and farm subsidies
According to an analysis of the group's policies, President Donald Trump's choice to lead the Agriculture Department is Brooke Rollins. She led a group that opposed ethanol mandates as well as farm subsidies. These are major programs she would be able to influence if she were confirmed.
US issue partial guidance on clean-fuel subsidies, which chastises ethanol producers
The U.S. Government released on Friday short-term guidelines on how companies could secure clean fuel tax credit under the Inflation Reduction Act. However, it did not finalize the key details of the program. The biofuels industry is eager to get clarity about the tax credits that are available for fuels which combat climate change.
Sources say that the US will release a model of clean fuel tax credit that restricts ethanol producers' access to credit.
Three sources with knowledge of the issue said that the U.S. will release a model climate for clean fuel tax credit by the end of next week. This model will drastically reduce the ability for ethanol producers access subsidies to produce sustainable aviation fuel. The climate model has been updated since the last time it was updated.
North Dakota oil plants slow to return online after wildfires in October
The state's Industrial Commission reported on Wednesday that oil operators in North Dakota are still working to bring some of their facilities online after wildfires in October swept through counties with significant oil production. According to Justin Kringstad of the North Dakota Pipeline Authority…
North Dakota oil operators are still bringing back some facilities online after wildfires in October
The state's Industrial Commission reported on Wednesday that oil operators in North Dakota are still working to bring some of their facilities online after wildfires in October ravaged key oil-producing counties. Mark Bohrer is the assistant director of North Dakota Department of Mineral Resources' oil and gas division.
Analyst says US onshore wind industry is struggling despite government push to clean energy
Geoffrey Hebertson told attendees of an energy conference organized by the Federal Reserve Banks of Dallas & Kansas City that the Onshore Wind Industry is still struggling to attract investment despite the U.S. Inflation Reduction Act. Hebertson stated that despite the Inflation Reduction Act of 2022…
Chinese giant CATL expands beyond batteries to power grids and EV platforms
Robin Zeng is the billionaire founder and CEO of CATL. He wants to transform the world's biggest battery manufacturer into a provider of green energy, as well as reduce the costs of developing electric cars, thus upending the economics that have driven the growth of the industry. Zeng…
Egypt's Petroleum Ministry ties arrears payment to production boost amid decreasing gas output
According to a statement from the petroleum ministry on Monday, Egypt plans to link arrears payment to increased production as part of its plan to settle outstanding debts with international oil companies. The statement said that the ministry recently introduced an incentive package to encourage partners to increase output above current levels.
Canada wants the energy sector to reduce emissions up to 35% from 2019 levels
The Canadian government released on Monday a draft regulation that would limit emissions of greenhouse gasses from the oil and natural gas sector to 35% below 2019 levels. This is a little less than originally anticipated. In a press release, the Environment Ministry said that the regulations…
US Governors push back against PJM following record-high prices for power plants
Five governors urged PJM Interconnection on Tuesday to change its process for determining the price of power plants, after the auction that saw record prices. Prices in the most recent PJM auction were almost 10 times higher than last year. This was largely due to a shrinking supply of electricity and an increasing demand for electricity.
New Mexico considers oil drilling restrictions which would reduce output and revenue
New Mexico is the second largest oil producer in the U.S. A leading economist released this week a study about potential drilling restrictions. The study showed that they could affect up to 5,4% of the future crude production and cost billions in revenue. The study evaluated the setback proposals that were made during the legislative session of 2024…
New Mexico considers oil drilling restrictions which would reduce output and revenue
New Mexico's chief economic officer said in a recent report that the state is currently studying new drilling restrictions. These could affect up to 5.4% its future crude production and cost the state billions in revenue. The study looked at proposed setbacks, or restrictions on how near…
US Closes $861 Million Loan Guarantee for Solar, Energy Storage in Puerto Rico
The U.S. Energy Department announced on Tuesday that it had closed a $861 million loan to finance the construction in Puerto Rico of two photovoltaic solar farms and two batteries storage systems. Puerto Rico, an American territory, was hit by hurricanes over the past few years. People…
Canadian Natural Gas Companies eager to capitalize on the LNG boom flood the market with excess supply
Analysts said that a huge LNG Canada terminal, led by Shell, could struggle to raise Canadian natural-gas prices dramatically when it begins operating next year, because of a glut of supply waiting to be released. Storage was full, and the price of a million British thermal unit (mmBtu)…
Colombian electoral authority asks for investigation into Petro campaign funding
In a press release, the National Electoral Council of Colombia (CNE), said that it had requested an investigation of the election campaign for 2022 of President Gustavo Petro due to alleged violations of funding limits. The majority of nine magistrates approved an investigation of Petro…
The US has imposed preliminary new tariffs on solar imports from Southeast Asia
The U.S. Commerce Department announced on Tuesday anti-subsidy, countervailing duty on solar cells imported from Vietnam, Cambodia and Malaysia. A preliminary decision published on Commerce's site shows that the agency has calculated tariff rates ranging from 0.14% to 3,293.61% depending…
Companies call on world leaders to meet renewable energy targets
On Monday, executives from major companies urged leaders to implement an international agreement made at the COP28 Summit in Dubai last year to triple renewable energy capacity by 2030, to combat climate change. The statement was made at a side event to the United Nations Climate Week, in New York.
US gasoline margins slump on lackluster summer demand
U.S. gas futures dropped about 3% on Tuesday, reducing their premium over crude to its lowest since November 2023. This was after government data revealed a weaker average demand for gasoline on a 4-week basis.Why it MattersThe U.S. is the largest consumer of gasoline in the entire world.
