Canada proposes a sharp reduction in emissions from the oil and gas industry by 2030
On Monday, the Canadian government released draft regulations which would cap greenhouse gas emissions from the oil and natural gas sector. Producers will be required to reduce emissions by 35% from 2019 levels and 2030. In a press release, the Environment Ministry said that the regulations would create a cap and trade system to reward companies with better performance. It will also provide an incentive for polluting firms to improve their production processes.
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 would create a cap and trade system to reward companies with better performance. It will also provide an incentive for polluting firms to improve their production processes.
Document shows that Russian oil and gas revenues will decline in 2025-2027 due to a reduction in tax burden for Gazprom.
A draft budget released on Monday shows that Russia's oil and gas revenues are expected to decrease in 2025-2027, due mainly to the easing of the tax burden for the country's biggest gas producer Gazprom. The budget document states that the total budget revenue expected from oil and natural gas sales will decline from this year's 11.3 trillion Russian roubles to 10.9 trillion (117.53 billion) roubles in 2025, or 5.1% of GDP.
BP, ADNOC meet Cyprus Officials to Explore Gas Investments
13 offshore blocks, or exploration locations, rimming the island. has found gas in five wells at 3 blocks. None has gone into industrial production yet.BP declined to comment.Previously this year, a $2 billion offer by ADNOC and BP to buy.
African LNG to Attract $103Bln in 2019
With greenfield investments in Nigeria, Egypt, Mozambique and elsewhere reaching nearly $103 billion this year, it is clear that liquefaction is viewed as the most profitable strategy for realizing Africa’s gas potential, said Gas Exporting Countries Forum (GECF).Africa is an exciting frontier in the global natural gas sector. The continent holds 7.1 percent of proven global gas reserves…
Russian Novatek, Italian SACE in LNG Pact
Russian gas giant Novatek and SACE SIMEST, the Italian export credit company part of CDP Group, have finalized an agreement on strategic cooperation in the liquefied natural gas (LNG) projects, including Arctic LNG 2."PAO Novatek and SACE signed a Memorandum on Strategic Cooperation in relation to the Company's current and future LNG projects. The parties agreed to develop long-term…
Christophe de Margerie Loads First Cargo from Third Train Yamal LNG
The Arctic LNG carrier Christophe de Margerie, owned and operated by Sovcomflot, loaded the first batch of liquefied natural gas (LNG) produced at the third train of Yamal LNG plant, at the Port of Sabetta on the Yamal Peninsula.Dmitry Medvedev, the Russian Prime Minister, initiated the start of cargo operations via a video conference with the vessel’s Master Sergey Zybko.Dmitry Medvedev…
Argentina Outlines Plan for $1.6 bln in Late Natgas Subsidy Payments
Argentina will pay the $1.6 billion in subsidies it owes to oil companies that increased natural gas production in 2017 in 30 monthly quotas starting in January 2019, the Energy Ministry said on Tuesday. The incentive program was implemented in 2013 to attract investment to the South American country's natural gas sector, but Argentina's cash-strapped government has struggled to pay subsidies on time since it began.
Awaiting Trump's coal comeback, miners reject retraining
When Mike Sylvester entered a career training center earlier this year in southwestern Pennsylvania, he found more than one hundred federally funded courses covering everything from computer programming to nursing. He settled instead on something familiar: a coal mining course. "I think there is a coal comeback,” said the 33-year-old son of a miner. Despite broad consensus about coal's bleak future…
ENI, Anadarko to Build LNG Terminals in Mozambique
Italy's ENI and U.S. oil and gas firm Anadarko signed agreements with the Mozambique government on Thursday to build two liquefied natural gas terminals in the southern African country. The terminals will be built in Cabo Delgado province, where Mozambique has made massive gas discoveries that could transform it from a poor African country into a major energy supplier to Asia. The agreements…
Syria Signing O&G Deals with Russia
Syrian government has started signing deals with Russian companies in oil and natural gas sector, RIA news agency quoted Syrian President Bashar al-Assad as saying on Friday. No other details have been disclosed so far. (Reporting by Vladimir Soldatkin)
John Crane Discusses Technologies for Managing Gas Emissions
A United Nations panel examining the critical role gas will play in achieving the international organization’s Sustainable Development Goals has invited an expert from John Crane to showcase how the firm’s technology is reducing methane emissions in sectors of the natural gas industry by up to 95%. John Crane is a division of the global technology company Smiths Group Plc. Paul Hosking…
Orbital Gas wins BioMethane contract
Orbital Gas Systems, (Orbital), the leader in innovative gas measurement solutions, has been awarded a contract valued in excess of $750,000 by a major European industrial company operating bio-methane-to-grid plants throughout Europe. Under the contract, Orbital will provision two BioMethane units, the company’s bio-methane-to-grid system, for delivery to the client in 2017. The award follows an extensive audit and assessment of Orbital’s technical…
IEA welcomes Italy's Plan to Revisit Energy Strategy
In its latest country review of energy policies, the International Energy Agency praised Italy's comprehensive long-term energy strategy and the acceleration of its efforts to comply with 2020 goals on renewable energy, climate change and energy efficiency. The IEA's new report, Energy Policies of IEA Countries: Italy 2016 Review, said that the country's 2013 National Energy Strategy…
Mozambique O&G Contracts to be Signed Early Next Year
Mozambique's National Petroleum (INP) expects to sign new oil and gas prospecting contracts by early next year with the companies awarded rights to test for hydrocarbons across the country, an official said on Thursday. An INP official told a gas and oil summit in Maputo that the contracts would be finalised within 2 to 4 months with the companies that have been awarded the blocks. "We can say that there is progress as the meetings with the winning bidders have already begun.
Australia's Natural Gas Ban Replicates Springsteen's Rust Belt
When government policies are driven by populist politics, it is almost certain to lead to poor outcomes and a low standard of debate, as shown by the current conundrum in Australia's natural gas sector. The natural gas-rich Northern Territory has become the latest of Australia's eight state and territory governments to restrict the development of the industry, by placing a moratorium on hydraulic fracturing, or fracking, of wells.
Exxon, Eni, Sasol Bid for Mozambique's Unexplored Fossil Fuel Bounty
Exxon Mobil, Italy's Eni and South Africa's Sasol are among the firms that submitted bids to explore new blocks for fossil fuels in Mozambique and off its Indian Ocean coastline, a senior official said on Thursday. A total of fifteen blocks in some 76,800 sq km were included in the fifth licensing round for which the Institute of National Petroleum (INP) closed bidding on Thursday.
Petrobras to present POAG at World Gas Conference
Between June 1 and 5, Petrobras will take part in the 2015 World Gas Conference, the most important global event in the natural gas sector. At the 26th edition of the event, in Paris, the company will present the Gas Usage Optimization Program (POAG), including papers on the perspectives for natural gas in Brazil and neighboring countries, and technological innovations in the fertilizing sector. Company representatives will also preside over five panel discussion sessions.
BNDES Cuts Brazil Oil-sector Investment Outlook
Brazil's state development bank BNDES said on Friday it cut its outlook for 2015-2018 oil and natural-gas sector investment by nearly 30 percent to 360 billion reais ($111 billion) from 509 billion in its previous estimate. The decline is expected to be led by lower spending by state-run Petroleo Brasileiro SA which is grappling with a huge corruption scandal. While requests for oil and natural-gas project finance shrank in the first months of 2015…
Russia, Argentina Sign Energy Framework Deals
Russia and Argentina signed several cooperation documents on Thursday, paving the way for the construction of a nuclear power plant in Argentina and for closer work in the natural gas sector. Russian state-owned gas producer Gazprom and Argentine state oil company YPF signed a memorandum on cooperation, while Russia's Rosatom signed a similar memorandum for the nuclear power plant. Reporting by Denis Pinchuk
