Energy News
Here’s Why Cheniere’s Taiwan Deal is a Big Deal
From the Corpus Christi Caller Times
Cheniere Energy’s Corpus Christi-area plant is still under construction, but there’s still a lot of activity going on.
Case in point?
Cheniere recently signed a Heads of Agreement in Washington D.C. to provide Taiwan’s …
Three Maryland Counties Begin FY 2019 with Balanced Budgets as a Result of Cove Point LNG Project
Calvert County lowers property tax rate, bumps allocation to education, restores step salary increases
From BayNet
Hollywood, MD – In case you missed it, this past Sunday was not only the beginning of a new week and new month but …
Could Renewable Energy Really Breeze Past Natural Gas?
From Forbes
Natural Gas is getting mixed reviews when it comes to the climate cause. One side is saying that it is cutting into coal’s marketshare and thereby drastically reducing heat trapping emissions while the other is noting that it …
Energy Promoter Sentenced to 18 months, $14.4 Million for Stealing $5 Million from DOE Stimulus Grant
Michael J. Ruffatto, promoter of the never-built Two Elk project near Gillette, pleaded guilty to federal criminal fraud charges
From WyoFile
PITTSBURGH — A federal judge sentenced Two Elk power plant promoter Michael J. Ruffatto to 18 months in prison …
Iran’s President Rouhani is Sticking With Nuclear Deal
Iranian President Hassan Rouhani said Tuesday his country is committed to the 2015 nuclear deal, even though it’s been abandoned by the United States.
In Switzerland campaigning to save the deal, Rouhani made clear Tehran will stick to the …
Former President and CEO of Natixis Investment Managers Joins Global Partners Board
Global Partners LP (NYSE: GLP) today announced the appointment of John T. Hailer, former President and Chief Executive Officer of Natixis Investment Managers, to the Board of Directors of its general partner, Global GP LLC, effective July 1, 2018.
Mr. …
Seadrill Partners Awarded $273 Million in Brit High Court Ruling
Seadrill Partners LLC said the English High Court has ruled in favor of its subsidiary Seadrill Ghana Operations Limited relating to the early termination of the West Leo contract by Tullow Ghana Limited.
Seadrill Ghana was seeking to recover standby …
Northwoods Energy Announces New CFO
Northwoods Energy LLC (“Northwoods” or the “Company”), a portfolio company of certain funds managed by affiliates of Apollo Global Management, LLC (NYSE:APO) (“Apollo”), has appointed Nate Wells as Chief Financial Officer. In this role, he will be responsible for corporate …
McDermott Appoints New COO
McDermott International, Inc. (NYSE: MDR) announced today that Samik Mukherjee has been appointed to serve as the company’s new Executive Vice President and Chief Operating Officer (COO), effective July 3, 2018.
Samik Mukherjee, Executive Vice President and Chief Operating Officer, …
Noble Energy Adds to Delaware Basin Takeaway
Noble Energy, Inc. (NYSE: NBL) (“Noble Energy” or “the Company”) today announced that it has supplemented its Delaware Basin takeaway position with an additional firm sales agreement which will result in the Company’s crude oil reaching the Gulf Coast. The …
Trinidad Drilling Announces Changes to Board of Directors
Trinidad Drilling Ltd. (TSX: TDG) (Trinidad) today announced changes to its Board of Directors. Ken Stickland, previously Trinidad’s lead director, has been appointed Chairman, and Michael (Mike) Heier, Trinidad’s Chairman and founder, has resigned.
“Mike has been fundamental to Trinidad’s …
Saudis’ Biggest Oil Surge in 5 Years Barely Steadies OPEC
From Bloomberg
Under U.S. pressure, kingdom boosts production by 330,000 b/d
Libyan, Venezuelan losses mean total OPEC output holds steady. Saudi Arabia’s biggest oil-production surge in five years was only enough to keep OPEC’s output steady last month, as losses …
ConocoPhillips’ Lance Says Permian Pipeline Shortcoming Won’t be Long Term
From Financial Times
Conoco’s step back from Permian Basin is temporary, CEO says
Lance predicts short-term pipeline bottlenecks will not curb US oil production growth
ConocoPhillips chief executive Ryan Lance: ‘We’re not trying to chase the cycle up’
US oil …
Japanese LNG Importer Buys into Haynesville Shale
From the Houston Chronicle
Japan’s Oaska Gas said Friday it is buying into East Texas shale gas fields, acquiring a stake from Houston-based Sabine Oil & Gas.
Osaka, which already is a buyer of liquefied natural gas from Texas, will …
President Trump Wants Saudis to Balance the Drop in Iran’s Oil Supply
From Reuters
President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S. ally Saudi Arabia to raise supplies to compensate for lower exports from Iran.
Trump said in a tweet …
Diamond Offshore Appoints CFO
Diamond Offshore Drilling, Inc. (NYSE: DO) today announced that Scott Kornblau has been appointed Senior Vice President and Chief Financial Officer, effective immediately.
Mr. Kornblau has over 20 years of finance and accounting expertise working in the energy industry. Mr. …
Mexico’s New President May Ask Nieto to Halt Onshore Bid Rounds: Analyst
Onshore round is slated for Sept.; Mexico’s newly elected president López Obrador assumes office Dec. 1
Mexico’s newly elected president López Obrador (AMLO) took more than 50% of the vote Sunday. The president-elect will assume office Dec. 1, 2018, replacing …
The Texas Well That Started the Fracing Revolution
From The Wall Street Journal
DISH, Texas—Twenty years ago this month, a well was drilled here that changed the world.
Nothing at the time suggested the unassuming well in this rural town north of Fort Worth would hobble OPEC, the …
Alaska LNG Preparing an Equity Offering: AGDC Official
From Reuters
Proposed project price is tagged at $43 billion
WASHINGTON (Reuters) – Alaska Gasline Development Corp (AGDC) is preparing an equity offering for this summer and is open to partnering with a major energy firm on the development of …
Bloomberg New Energy Finance Outlook for Electricity: Cheap Wind, Solar, Storage will Change Everything by 2050
Coal use to dive by 70%
$11.5 trillion in newbuild generation capacity will buy the cheapest, cleanest sources between 2018-2050
Renewables will provide 87% of electricity in Europe and 55% of U.S. power by 2050
NatGas earmarked for peaker plants
…
Pemex Races Mexico Presidential Election in Hunt for Partners
From Bloomberg
Uncertainty over Mexico’s elections July 1 have potential partners on hold
State oil company still plans to farm out 11 onshore fields on October 31
Petroleos Mexicanos is accelerating efforts to bring on partners before an election that …
Crunch Time for Kitimat as Decision Nears on $40 Billion LNG Canada Play
Real estate investors face peak prices
From Business Vancouver
Real estate investors have Kitimat back on the radar but the prices and the potential are both much higher now that during the last boom in the northeast centre for the …
India State-Run Oil Firms Eye U.S. Crude to Replace Iranian Imports
U.S. government on Wednesday asked all countries, including India, to stop oil imports from Iran by 4 November
India meets 80% of its crude demand through imports, is the second-largest buyer of Iranian crude after China
10 million barrels of
…
Thinking Ahead: Predicting 12 Million Electrics on UK Highways by 2040, BP Buys UK’s Largest EV Charging Company
6,500 charging points brings opportunity for 10+ minutes of retail sales per visitor – adding varied types of energy to meet vehicle-owner demand to get customers to spend money at BP’s retail stores – about half of the gross margin
…
Icahn Cuts Stake in Cheniere Energy, Remains Confident in Management
From Reuters
Activist investor Carl Icahn said on Thursday he had reduced his stake in liquefied natural gas exporter Cheniere Energy Inc (LNG.A) to 9.5 percent, but added that he was confident in the company’s management and Chief Executive Officer …
Supreme Court Hands Seismic Patent Owner a Win
WesternGeco sued ION in 2009 for patent infringement
From National Law Review
On June 22, 2018, the United States Supreme Court held that a patent owner can collect lost foreign profits for use of an infringing product outside the U.S.…
Northern Oil and Gas Announces Acquisition and Debt Reduction
Northern Oil and Gas, Inc. (NYSE American: NOG) today announced that it has entered into a definitive agreement to acquire producing assets in the Williston Basin of North Dakota. Separately, Northern has entered into another negotiated exchange agreement with an …
Transocean Offers $700 Million of Secured Notes and Closes $1 Billion Credit Facility
Transocean Ltd. (NYSE:RIG) announced today that Transocean Guardian Limited (“Transocean Guardian”), a wholly owned indirect subsidiary of Transocean, commenced a private offering of senior secured notes. Transocean Guardian intends to offer U.S. $700 million in aggregate principal amount of senior …
Inside the Failed Plot to Overthrow Venezuelan President Nicolás Maduro
From Bloomberg
The plot, code-named Operation Constitution, involved scores of captains, colonels, and generals from all four branches of Venezuela’s armed forces. The goal was straightforward and seismic—to capture President Nicolás Maduro and put him on trial. The plotters, wearing …
