US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies implemented by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association, has urged the incoming Trump administration to remove vehicle emission standards designed to encourage the auto industry to make more electric vehicles. It also urged Trump to lift the pause on liquefied gas export permits and work with Congress on repealing a fee for methane emissions during drilling operations.
US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies proposed by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association, has urged the incoming Trump administration to remove vehicle emission standards designed to encourage the auto industry to make more electric vehicles. It also urged Trump to lift the pause on export licenses for liquefied gas facilities, and to work with Congress to eliminate a fee on drilling methane emissions.
How methane threatens climate goals
Scientists and policymakers are urging aggressive action to reduce the production of methane, a powerful greenhouse gas. Nearly 160 nations have committed to reducing methane emission levels by 30% from 2020 levels by the end this decade. The 2024 Global Methane Budget Report states that atmospheric methane has risen the fastest in the past five years since records began in 1970, largely due to natural sources. The methane molecules trap heat more effectively than the carbon dioxide molecules (CO2). This means that fewer of these molecules can cause the same level of warming. Reducing them will have an immediate impact than reducing CO2.
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. Ottawa stated that oil and gas production would still grow by 16% in 2030-2032 compared to 2019 levels, but without a cap. The Canadian GDP will only decrease by 0.1%.
US lawmakers question the SLB of oil service companies' exemption from Russian sanctions
Dozens U.S. Both political parties sent representatives to urge the Biden administration on strengthening sanctions against Russian oil shipments. They also questioned the exception granted to SLB, the largest oilfield service company in the world to operate within the country. The U.S., Europe and other countries have been trying to reduce Moscow's revenue from energy for the fight against the war since the 2022 Russian invasion of Ukraine. This led several oilfield services companies to leave Russia, but SLB remained in the country and helped keep Russian oil flowing.
Petrobras' focus remains Brazil despite Africa plans, director says
Petrobras, the state-owned oil company in Brazil, has its main focus on its own country. Its director of exploration, production, said this Thursday. He added that Brazil remained a top priority, even though it plans to expand into Africa. Petrobras, which is looking to replenish its oil reserves in the future, has publicly expressed interest in expanding their oil fields in Africa. This move comes after years of the company focusing on Brazil. Director Sylvia dos Anjos said in an interview that the Brazilian oil giant has evaluated billion-dollar blocks across Africa. She added that over ten opportunities had been assessed by the company.
Bloomberg News: Chevron and Hess CEO agree that Hess will not be joining the board of directors in a deal with US regulator
Bloomberg News, citing sources familiar with the situation, reported that U.S. Energy Major Chevron agreed with U.S. Federal Trade Commission Hess CEO John Hess would not join its board as part of an agreement to proceed with a $53 billion acquisition deal. The proposed acquisition of all stock, announced first in October, is the largest in the U.S. Oil and Gas industry. It's the latest in a series of multi-billion-dollar deals. Chevron Hess, and the FTC have not responded to requests for comment. Chevron must still win Exxon Mobil's arbitration case filed over Hess stake in Guyana oilfield, a prized asset in the proposed merge.
Texas sues Biden Administration over lizards' endangered status, citing oil industry threat
Texas Attorney General Ken Paxton filed a lawsuit against the Biden administration Monday, claiming that the decision to declare the dunes sagebrush Lizard as an endangered species could harm property owners or energy production. Paxton, who is a Republican, claimed that the U.S. Fish and Wildlife Service based its final rule, adopted on May 20, on inaccurate data and arbitrary assumptions regarding the future of the lizard. He said that the move would threaten the ability of private landowners to conduct business, while also ensuring the survival of the lizard in its vast geographic range which overlaps the Permian basin, the most productive oil region in the United States.
Rural towns in New Mexico's arid region are looking to treated oil wastewater for a drought solution.
Stephen Aldridge, a pilot of a four-seater helicopter, could see a dozen lagoons filled with toxic waste glistening in the distance between drill rigs. The mayor of Jal, a tiny town nestled in the middle of U.S. Oil Country near the Texas border, saw the scene as a chance to find water for the state that is suffering from a worsening drought. Aldridge belongs to a growing number of New Mexico politicians that want to see the state develop regulations to allow the millions of gallons per day of produced water, which is spewed out along with the Permian Basin's abundant oil and gas, to be used instead of being thrown away.
Mexico's new president appoints an energy expert to lead Pemex
On Monday, Mexico's new president nominated Victor Rodriguez as the next executive director of the heavily indebted oil company Pemex. This was one of the last nominations to the politically and financially volatile energy sector. At a press event, Rodriguez stated that working with the Finance Ministry would be crucial in stabilizing his company, the most indebted of all oil companies in the world. He also stressed the importance of producing less polluting fuels. The cabinet of President-elect Claudia Sheinbaum who assumes office in October has been announced. It is a mixture of new faces and holdovers from her mentor's administration.
New Zealand passes law to reverse oil and gas exploration ban
New Zealand announced on Monday that it will pass laws before the end of the year to reverse an offshore oil and natural gas exploration ban and to take urgent steps to eliminate regulatory hurdles for importing liquefied gas (LNG), amid energy shortages. The right-of centre government wants to attract investment into the oil and gas industry in the country. This law will end the ban on exploration that has been in place since 2018 outside of onshore Taranaki. Energy prices have risen to the highest level among developed economies due to severe shortages in the past few weeks, according to Prime Minister Christopher Luxon.
Ten Things to Consider When Choosing Your Digital Twin Provider
Kongsberg Digital’s Brian Sidle identifies the top ten things to consider when choosing a provider for cloud-based digital twins in the energy sector.The energy sector’s heavy asset operators stand to benefit greatly from a cloud-based digital twin, but successful digital transformation initiatives can be elusive – especially when it comes to sustaining long-term performance improvements. Whether the digital twin journey is driven by the CTO, CFO, or others within an organization, the right partner can significantly increase the probability of success in managing the process of change.Since digital transformation is top of mind for the industry…
SLB Launches Cement-free System to Cut CO2 Footprint of Well Construction
Oilfield services giant SLB, until recently known as Schlumberger, on Monday introduced the EcoShield geopolymer cement-free system that it says minimizes the CO2 footprint of a well’s construction." This innovative technology eliminates up to 85 percent of embodied CO2 emissions compared with conventional well cementing systems, which include portland cement. The EcoShield system has the potential to avoid up to 5 million metric tons of CO2 emissions annually—the equivalent of removing 1.1 million cars from the road each year," SLB said.“Decarbonizing…
Svanehøj Inks Deal to Supply Chinese LNG-import Terminal
In February 2023, Svanehøj Tank Control Systems will deliver the tank gauging system for COOEC’s six new LNG tanks for the Longkou Nanshan LNG Terminal which is under construction.Global investments in LNG are increasing, not least in China, which is currently constructing around 40 LNG tanks with the capacity of 220,000 cu. m. To secure the LNG storage, one of the largest EPCI contractors for offshore oil and gas industry in the Asia Pacific region, COOEC, has chosen Svanehøj Tank Control Systems to implement tank gauging system to improve safety on six new LNG tanks of 220…
U.S. Climate Bill Exempts most of Oil Industry from Methane Fees
The U.S. Senate climate bill’s fee on oil and gas industry methane emissions will cover less than half the sector’s releases of the powerful greenhouse gas, thanks to concessions made to win over party holdout Joe Manchin, according to a review of the legislation and interviews with lawmakers that negotiated it.The reduced scope of the fee is among numerous changes made by Senate Democratic leadership to secure a deal on the hard-won Inflation Reduction Act, which is being hailed as the biggest climate package in U.S. history but which pales in…
Electrification is Key to Decarbonizing the North Sea
The UK government has set ambitious climate change targets within the oil and gas industry, with The North Sea Transition deal aiming to reduce emissions by 50% before 2030. In the most recent emissions report published by the North Sea Transition Authority (NSTA), the 2025 and 2027 targets appear achievable through natural field decline, targeted flaring reduction initiatives, and improved plant production efficiencies. However, in a ‘business as usual’ case, a gap emerges of about 1.5-2 million tons (mt) of CO2 against the stated 50% reduction target.Electrification can be a key enabler to reduce offshore emissions and meet the target set by the NSTA…
Neptune Energy Targets 2030 to Store More Carbon Than It Emits
With increasing pressure on the oil and gas industry to cut its emissions footprint, Neptune Energy said it aims to go beyond net zero and store more carbon than is emitted from its operations and the use of its sold products by 2030.According to the company, it is currently progressing a pair of carbon capture and storage (CCS) developments in the Dutch and UK sectors of the North Sea that it claims could store more than 9 million tonnes of carbon dioxide (CO2) emissions per year for third parties by the end of this decade, effectively excedeing its projected direct emissions and emissions from the use of its sold products.Neptune…
“30 by '30” Target has Put U.S. Offshore Wind on the Map, Says DNV’s Galinski
Robert Galinski, Offshore Wind Director, Americas, DNV breaks down the potential for the U.S. Offshore Wind in the run up to 2030.Watch this short video interview with Robert Galinksi’s discussing the overall market potential:When the Biden Administration laid out its plan for 30 GW of offshore wind power by 2030, it “really put the offshore wind on the map,” said Galinski, in a recent interview with Maritime Reporter TV. “The potential for development of clean energy using offshore wind was known for some time. The commitment we see from the federal government is encouraging.”While multiple challenges remain…
Offshore Wind Market Set to Accelerate in North America
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Floating Offshore Wind: Attention Turns Subsea for Power Transport
From being an ugly duckling, floating offshore wind is now the Cinderella of the offshore renewables world. Attention is now being paid to floating and even subsea substation concepts to help bring this power to shore. Over the past year, expectations around the growth in the floating offshore wind development have grown, significantly. Many are piling into the market, seeing that it could give them a chance to ramp up renewables capacity quickly, with 15MW turbines on the horizon and the possibility of GW-scale projects looming by the end of the decade.Much has been said about the different floating turbine concepts.
