Articles by: [email protected]

US will fall behind China as world’s largest oil refiner in 2021

US will fall behind China as world’s largest oil refiner in 2021

Bloomberg

Earlier this month, Royal Dutch Shell Plc pulled the plug on its Convent refinery in Louisiana. Unlike many oil refineries shut in recent years, Convent was far from obsolete: it’s fairly big by U.S. standards and sophisticated enough to …

November 22, 2020 - 5:32 am Downstream, International
Turkey can not afford any more sanctions and wants to keep EU ties

Turkey can not afford any more sanctions and wants to keep EU ties

Bloomberg

President Recep Tayyip Erdogan called on the European Union to keep its promises to Turkey and avoid discrimination as the threat of EU sanctions looms over the country.

“We see ourselves in Europe, not anywhere else, and we want …

November 22, 2020 - 5:26 am International, Natural Gas News
China’s Svolt to build power battery plant in Germany

China’s Svolt to build power battery plant in Germany

Argus

Shanghai, 20 November (Argus) — Chinese battery producer Svolt Energy Technology plans to build a power battery plant in Saarland, Germany.

Svolt said that the plant’s battery capacity will reach 24GWh/yr, with demand from its European customers reaching 7GWh/yr …

November 20, 2020 - 12:02 pm Renewable/Green/Eco Energy
Off-grid solar generation could affect how Africa uses coal, natural gas for electricity – a good thing for everyone

Off-grid solar generation could affect how Africa uses coal, natural gas for electricity – a good thing for everyone

EIA

Oil & Gas Publishers Note: Getting a “Balanced diet of power” is critical to get the lowest kWh to all of the people, while being good stewards of our natural resources. 

In the International Energy Outlook 2020 (IEO2020), the …

BP  Backtracks  on  $3.2  Billion  Brazil  Offshore  Acquisition

BP Backtracks on $3.2 Billion Brazil Offshore Acquisition

Bloomberg

BP Plc is pulling the plug on two Brazilian deep-water discoveries it bought in 2011 as part of a $3.2 billion acquisition of Devon Energy Corp.’s exploration portfolio in Latin America’s biggest nation. Brazilian independent Petro Rio SA will …

Saudi Aramco targeted by climate action investor group -What’s a few trillion between friends?

Saudi Aramco targeted by climate action investor group -What’s a few trillion between friends?

Oil & Gas 

Climate Action 100+ has more than 500 investors and $47 trillion in assets

Climate Action 100+, a leading investor group pushing corporations to act on climate change, has added Saudi Aramco to its list of target companies.…

November 19, 2020 - 1:33 pm Finance, International
Rendering of proposed Versatile Test Reactor -Idaho National Laboratory

U.S. Department of Energy Announces Plans for Environmental Impact Statement for Versatile Test Reactor

Office of Nuclear Energy

Oil & Gas 360 Publishers Note: This is good news as we try to get a “balanced power” to help the environment. Having all types of renewable, hydro, nuclear and clean fossil fuels is a good

Aramco awards major contracts for brownfield projects as part of new strategy

Aramco awards major contracts for brownfield projects as part of new strategy

Oil&Gas

Eight companies have been awarded Long-Term Agreements for a six-year base period and extendable for an additional six years

Aramco announced a new contracting strategy for its oil and gas brownfield and plant upgrade projects. The strategy focuses on …

November 19, 2020 - 11:59 am Corporate Performance Announcements, International
Savion sells 30-MW Virginia solar project to Falck Renewables and Eni US

Savion sells 30-MW Virginia solar project to Falck Renewables and Eni US

Savion

Savion announced it has reached a definitive agreement to sell the Westmoreland Solar Project in Westmoreland County, Virginia. Falck Renewables North America and Eni New Energy U.S., through Novis Renewables Holdings, a partnership with 51% and 49% shares respectively, …

Uzbekistan’s Ministry of Energy hosts international webinar on current and future developments in the country’s energy sector

Uzbekistan’s Ministry of Energy hosts international webinar on current and future developments in the country’s energy sector

360 Feed Wire

Investors, media and professional services sector attendees hear about opportunities

for international companies and investors in Uzbekistan

Tashkent, Uzbekistan, November 19 2020: The Ministry of Energy of Uzbekistan is pleased to announce it recently held an international …

November 19, 2020 - 9:47 am Finance, International, Press Releases
About 25% of U.S. power plants can start up within an hour

About 25% of U.S. power plants can start up within an hour

EIA

About 25% of U.S. power plants can start up—going from being shut down to fully operating—within one hour, based on data collected in EIA’s annual survey of electric generators. Some power plants, especially those powered by coal and …

November 19, 2020 - 9:32 am EIA News That Matters, Electrical Power Generation
Exclusive 360 Women In Energy Video Interview: A different take on ESG with Susan Fakharzadeh – Pt 1

Exclusive 360 Women In Energy Video Interview: A different take on ESG with Susan Fakharzadeh – Pt 1

ESG can be one of the most misunderstood and wildly misused topics in the oil and gas industry. We take seriously our devotion to "E", all while not forgetting the "S" and the "G". On today’s show, Chairman and CFO

Photo by Gary Braasch - Alaska Wilderness League

Conservation groups sue US to halt a ConocoPhillips oil project in Alaska

ABC News

ANCHORAGE, Alaska — Conservation groups are suing the Trump administration to halt the approval of a development plan for a ConocoPhillips oil project in Alaska, arguing that officials underestimated the plan’s harm to local wildlife.

The groups filed …

November 18, 2020 - 12:15 pm Crude Oil News, Regulatory, Renewable/Green/Eco Energy
TGS Announces New Projects and Updates Annual Investment Guidance

TGS Announces New Projects and Updates Annual Investment Guidance

360 Feed Wire

OSLO, NORWAY (18 November 2020) – TGS, a leading provider of multi-client geoscience data for exploration & production (E&P) companies, today commenced the Malvinas 3D program in Argentina. This survey was first announced to the market on …

November 18, 2020 - 8:27 am Corporate Performance Announcements, Press Releases
Courtesy of Qatargas

Qatargas delivers first Q-Max cargo to Tianjin LNG

Offshore Energy

Qatargas Operating Company Limited (Qatargas) has completed the delivery of the first cargo of liquefied natural gas (LNG) on a Q-Max LNG carrier to the Tianjin LNG receiving terminal in China.

The cargo aboard the Qatargas-chartered LNG vessel, …

November 18, 2020 - 8:22 am International, LNG
The Gulf of Mexico saw its largest decrease in crude oil production since 2008 in August – part storm -mostly lack of demand

The Gulf of Mexico saw its largest decrease in crude oil production since 2008 in August – part storm -mostly lack of demand

EIA

In August 2020, the Federal Offshore Gulf of Mexico (GOM) saw its largest monthly decrease in production of crude oil since September 2008, dropping by 453,000 barrels per day (b/d), or 27%. Production of crude oil in the GOM …

November 18, 2020 - 8:11 am EIA News That Matters, Offshore
Exclusive 360 Energy Expert Network Video Interview: Understanding Your Reservoir – A conversation w/Mark McClure, CEO, ResFrac

Exclusive 360 Energy Expert Network Video Interview: Understanding Your Reservoir – A conversation w/Mark McClure, CEO, ResFrac

Is your reservoir full?

 

Mark McClure, CEO, Resfrac stopped by to visit with us about the unique modeling in a three-dimensional simulator for reservoir simulations. In this market, every dollar counts in your limited capital budgets. Dan Genovese, Director

Source: Houston Chronicle

Exxon says its latest discovery offshore of Guyana is not financially viable

Reuters

An oil exploration campaign led by Exxon Mobil Corp XOM.N at the Tanager-1 well in the Kaieteur block off Guyana’s coast discovered hydrocarbons but it does not appear to be financially viable on its own, a spokesman for the …

Oil Rig with the JCA Crown Lights

EIA expects U.S. crude oil production to remain relatively flat through 2021

EIA

Oil & Gas 360 Publisher’s Note: The world dynamics within the energy markets will have a major impact on pricing, and therefore we are seeing a major decline in production requirements. 

In the U.S. Energy Information Administration’s (EIA) November …

Petrobras to shed 50 pct stake in Marlim cluster – Will help balance sheet

Petrobras to shed 50 pct stake in Marlim cluster – Will help balance sheet

offshore-energy

Brazilian oil major Petrobras has launched an opportunity disclosure stage (teaser) for the sale of its 50 per cent in offshore oil fields known as the Marlim Cluster in the Campos Basin, offshore Brazil.

Petrobras said it was looking …

November 17, 2020 - 4:53 am Mergers, Acquisitions & Divestitures, Offshore
Stena IceMAX is the world’s first dynamically positioned, dual mast ice-class drillship. The Stena IceMAX is a Harsh Environment DP Class 3 drillship capable of drilling in water depths up to 10, 000ft. The IceMAX has on-board 2 x BOP’s, each 18¾” x 15,000psi Cameron “TL” BOP c/w ST Locks, and uses Cameron Load King riser.

Bahamas Petroleum Company – Could provide billions of much needed royalty revenue for the national treasury

360 Feed Wire

Operational Update – ‘one month out’ to Perseverance #1 – (“BPC” or the “Company”)

In the lead-up to the drilling of Perseverance #1, BPC’s obligation exploration well in The Bahamas, the Company is pleased to provide the

Reuters FILE PHOTO: A worker walks at Enel SpA's hydrogen-fuelled combined cycle power plant inside the Andrea Palladio Fusina plant in Venice July 12, 2010. REUTERS/Alessandro Garofalo

Italy drafts guidelines for national hydrogen strategy -Gray on the way to Green

Reuters

Oil & Gas 360 Publishers Note: Gray hydrogen refers to hydrogen created with fossil fuels, and green hydrogen is maid with renewables.

Italy has set out guidelines for a national hydrogen strategy to help decarbonise the economy as it …

We projected that Libyan crude output would pick up to 1.2mn b/d in 2020

We projected that Libyan crude output would pick up to 1.2mn b/d in 2020

Argus

Oil & Gas 360 Publishers Note: We have been covering this on the Daily Energy News Beat, and called that Libyan crude would hit the 1.2 mark in 2020. Many other news groups were indicating 2021. Hats off

EIA says that Natural gas inventories end the injection season near the record high

EIA says that Natural gas inventories end the injection season near the record high

EIA

The amount of working natural gas in storage in the United States ended the natural gas injection, or refill, season (April 1–October 31) at 3,920 billion cubic feet (Bcf), according to interpolated data from the U.S. Energy Information Administration’s …

November 16, 2020 - 10:33 am Energy News, Natural Gas News, Natural Gas Storage
Aramco relies on new bonds to meet dividend obligations to stakeholders and social programs

Aramco relies on new bonds to meet dividend obligations to stakeholders and social programs

Bloomberg

Oil & Gas 360 Publishers Note: The 360 team covered this on the Energy News Beat last week. Important story for the country of Saudi Arabia, as Saudi Aramco has one of the lowest cost to produce oil costs

Alaska Travel to North Slope - photo Credit Stu Turley

Trump Rushes Environmental Regulations That Could Handcuff Biden

BloombergQuint

(Bloomberg) — The Trump administration is rushing to issue permits, finalize major environmental regulations and even sell the rights to drill for oil in Alaskan wilderness before Inauguration Day in a push that could complicate Joe Biden’s climate and …

November 16, 2020 - 5:09 am Politics, Regulatory
The head of the Peruvian Congress, Manuel Merino, waves after being sworn in as interim President in Lima on November 10, 2020 day after the Congress voted to impeach and oust President Martin Vizcarra over corruption allegations. - Merino, 59, was sworn in at a special session of Congress on Tuesday, becoming Peru's third president since 2016, reflecting the institutional fragility which has characterized the South American country. Under the constitution, he will take over the presidential functions until the end of the current term in July 2021. (Photo by Luka GONZALES / AFP) (Photo by LUKA GONZALES/AFP via Getty Images)

Peru’s interim president quits, successor unclear – What does civil unrest mean for the energy sector?

Argus

Lima, 15 November (Argus) — Peru’s interim president Manuel Merino resigned today just five days after assuming office, deepening the copper and LNG-exporting country’s constitutional crisis.

The 130-member unicameral congress will now pick a new president, the third in …

November 15, 2020 - 1:29 pm Crude Oil News, International, LNG, Political News
We asked Data Gumbo about Reducing LOE’s are saving operators millions every year – do you have too much money?

We asked Data Gumbo about Reducing LOE’s are saving operators millions every year – do you have too much money?

If you have listened to any of the recent M&A investor calls, you will notice two main themes that management highlights as reasons that make these deals attractive to investors: ESG commitments and cost savings from ‘synergies’. A few examples

Gulfport Enters Into Restructuring Support Agreement for Pre-Arranged Plan of Reorganization to Reduce Debt by Approximately $1.25 Billion and Significantly Improve its Cost Structure

Gulfport Enters Into Restructuring Support Agreement for Pre-Arranged Plan of Reorganization to Reduce Debt by Approximately $1.25 Billion and Significantly Improve its Cost Structure

360 Feed Wire

Commences Voluntary Chapter 11 Process to Implement Financial Restructuring

Obtains Commitment for $105 Million in New Money Debtor-In-Possession Financing to Support Continued Ordinary Course Operations, Including Payments for Wages and Benefits, Vendors and Suppliers

OKLAHOMA CITY, Nov. …

Interregional electricity trade in India affects shares of solar and coal-fired generation

Interregional electricity trade in India affects shares of solar and coal-fired generation

EIA

With more than 1.3 billion people, India is the second-most populous country in the world and has the third-highest energy consumption level after China and the United States. To help meet the country’s energy needs, India is expanding its …