Oil & Gas 360 – Page 626

Congress sets sites on climate change in Covid relief bill

December 22, 2020

CNBC The coronavirus relief bill passed by Congress toughens rules around use of a common heat-trapping chemical and funnels billions of dollars into renewable energy. The measures, attached to a year-end government funding bill, were hailed by some lawmakers as among the most significant Congress has approved to combat climate change in many years. The legislative package, which now awaits President Donald Trump’s signature,

ConocoPhillips Makes Large Oil Discovery Offshore Norway

December 22, 2020

OilPrice ConocoPhillips has made a large oil discovery in the Norwegian Sea close to a producing oilfield, the U.S. oil and gas company said on Tuesday. Preliminary estimates point to the field containing between 75 million barrels and 200 million barrels of recoverable oil equivalent, ConocoPhillips said, adding that additional appraisal would determine the flow rates and the ultimate resource discovery, as

Norway supreme court verdict opens Arctic to more oil drilling

December 22, 2020

Reuters OSLO – Norway’s supreme court upheld government plans for Arctic oil exploration on Tuesday, dismissing a lawsuit by campaigners who said they violated people’s right to a healthy environment. While most of Norway’s oil output flows from south of the Arctic, the government believes the greatest untapped potential lies in the Barents Sea off Europe’s northernmost coast. Tuesday’s verdict

FG, Shell, Agip lose bid to stop Abacha’s suit to reclaim Malabu’s OPL 245

December 22, 2020

Shell A Federal High Court in Abuja has rejected moves by the Federal Government, Shell Nigeria Exploration, Nigeria Agip Exploration Company and others to prevent the hearing of a suit seeking to reclaim the Oil Prospecting License (OPL) 245 originally awarded to Malabu Oil and Gas Limited. The suit, marked: FHC/ABJ/CS/201/2017 was filed in the name of Malabu Oil and

Citgo plans Q4 2021 overhaul at Corpus Christi refinery; may be postponed

December 22, 2020

Reuters HOUSTON -Citgo Petroleum Corp plans an overhaul at its 167,500 barrel-per-day (bpd) Corpus Christi, Texas, refinery in the fourth quarter of 2021, the company said on Monday. The fourth-quarter 2021 turnaround could be rescheduled, Citgo said. Sources told Reuters on Friday that Citgo was postponing planned maintenance scheduled for 2021 at the Corpus Christi refinery. The move is motivated

Massachusetts, Connecticut low-carbon fuel program draws industry ire- oil and gas 360

December 22, 2020

Reuters NEW YORK – U.S. governors from Massachusetts and Connecticut announced their commitment to a low-carbon transportation program on Monday, but gasoline-related trade groups say it has flaws that will harm, rather than promote, use of fuels that produce fewer pollutants. Some oil refiners and energy trade groups have been more supportive this year of low-carbon fuel programs nationwide because

Oil’s rally, fueled by vaccine progress, is running out of steam

December 22, 2020

Reuters NEW YORK -The oil market has rallied almost 40% in the last two months, pushing benchmarks to nine-month highs, in a euphoric response to progress on COVID-19 vaccines that has investors thinking the end of the coronavirus pandemic is in sight. Reality struck back on Monday, however, with a selloff driven by the surge in cases in the United

Oil drops as new coronavirus strain revives demand fears

December 22, 2020

Reuters LONDON -Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous session, as a mutant variant of the coronavirus in Britain revived concerns over demand recovery. Detection of the new variant prompted several countries to close their borders to Britain. The BBC cited France’s Europe Minister as saying that the two countries would announce a

Analysis-U.S. shale oil just had its worst year and the pain could bleed into 2021

December 22, 2020

Reuters HOUSTON/NEW YORK – U.S. oil and gas shares and drilling activity are edging higher, but a disastrous year for the energy industry means the go-go days of the shale boom may be gone for good. Deep spending cuts that came with the collapse in fuel demand and oil prices due to the COVID-19 pandemic have ended an era that

The Energy Venture Investment Summit: SAVE THE DATE: See you on February 10-11, 2021!- oil and gas 360

BREAKING: Colorado School of Mines Joins EnerCom to Co-Host the Energy Venture Investment Summit – February 10-11, 2021!

December 21, 2020

Oil & Gas 360 Publisher’s Note: The Energy Venture Investment Summit, on February 10-11, 2021. Please register Here to join us in February! Due to the pandemic, the conference will be hosted virtually on EnerCom’s proprietary energy news platform, Oil & Gas 360®, targeting more than 25,000 energy professionals and investors. REGISTER HERE About EnerCom: EnerCom, Inc. is an

Trump administration cuts size of Arctic land offered for oil auction

December 21, 2020

Reuters ANCHORAGE, Alaska – In a last-minute change, the Trump administration cut about 30 percent of the Arctic National Wildlife Refuge territory that it plans to auction off for oil exploration. The decision was announced late Friday by the Bureau of Land Management (BLM), the agency managing the oil lease sale. The ANWR lease sale is scheduled for Jan. 6,

Analysis-Climate could pay the price as Europe’s nuclear plants age

December 21, 2020

Reuters LONDON – Nuclear power capacity able to supply roughly 60 million homes is scheduled to close this decade as utilities struggle to replace northwest Europe’s ageing reactors, raising the risk of higher carbon emissions as fossil fuels plug the gap. Nuclear power provides around a quarter of the European Union’s electricity generation, with 15 of the 27 nations hosting

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