OAG360 – Page 317 – Oil & Gas 360

Powell says the Fed is still a ways off from altering policy, expects inflation to moderate

July 14, 2021

CNBC Federal Reserve Chairman Jerome Powell said Wednesday that the economy needs to improve more before the central bank will change its ultra-easy monetary policy. In remarks prepared for the House Financial Services Committee, the central bank chief noted improvements but said the labor market in particular is still well below where it was before the Covid-19 pandemic hit. Powell

EIA says U.S. 2020 coal output lowest since 1965

July 14, 2021

Reuters The Energy Information Administration (EIA) on Wednesday said U.S. coal production fell in 2020 to its lowest level since 1965 due to low global demand in the wake of the coronavirus pandemic. The federal agency said in a report that U.S. coal production totaled 535 million short tons (MMst) in 2020, a 24% decrease from the 706 MMst mined in 2019.

Oil prices slip as China import drop signals demand risk

July 14, 2021

BOE Report Oil prices fell on Wednesday over fresh concerns about demand after data showed that China’s first-half crude imports dropped, but were still holding near a one-week high amid worries about supplies as the world recovers from the coronavirus pandemic. West Texas Intermediate was down 24 cents, or 0.32%, at $74.96 a barrel, having jumped 1.6% in the previous

EU proposes world’s first carbon border tax for some imports

July 14, 2021

Reuters BRUSSELS/LONDON – The European Commission on Wednesday put forward plans for the world’s first carbon border tax, on imports of carbon-intensive steel, aluminium, cement, fertilisers and electricity, as part of a programme to meet its new climate target. The border levy should be phased in from 2026, the Commission said, and is designed to protect European industries from competitors

OPEC reportedly reaches compromise on oil production after dispute with UAE

July 14, 2021

CNBC DUBAI, United Arab Emirates — The Organization of Petroleum Exporting Countries on Wednesday arrived at a deal after a nearly two-week standoff over its future oil production levels, according to reports by the Wall Street Journal and Reuters. The temporary but unprecedented gridlock that began in early July saw the United Arab Emirates reject a coordinated oil production plan for the group

EnerCom's 26th The Oil & Gas Conference® brings a broad group of public and private energy companies, energy analysts, industry leaders and investors to Denver, Aug. 15-18, 2021- oil and gas 360

We’re Back! Preliminary list of participating companies posted for EnerCom’s The Oil & Gas Conference

July 13, 2021

Oil & Gas 360 EnerCom, Inc. published a preliminary list of participating companies for The Oil and Gas Conference today.  We are adding to the list daily and hope that you will be able to attend this year.  Click here to register and see preliminary list. We are excited to bring the energy and investment community back together in Denver August 15-18, 2021 Conference Details: EnerCom’s The Oil & Gas Conference®

Haynes and Boone: Monthly Energy Tracker Call- oil and gas 360

Haynes and Boone: Monthly Energy Tracker Call – July 2021

July 13, 2021

Current Business and legal issues in the Oil and Gas Market Publisher’s Note: In case you missed it! Click below to hear the Monthly Energy Tracker Replay Call (07/13/2021). Sign up below to register for future events and our daily Closing Bell so you can stay connected. Haynes and Boone, AEGIS and EnerCom Replay of our Tuesday, July 13 Monthly Energy Tracker

ERCOT unveils plans to improve Texas power grid reliability

July 13, 2021

Nasdaq Grid operator Electric Reliability Council of Texas on Tuesday unveiled plans to address operational improvements, which include purchasing more reserve power and reviewing the need for on-site fuel supplies for some generators. After a rule change, ERCOT suggests power operators submit a letter signed by their CEOs twice a year certifying their companies have completed their weatherization preparations for

Shell unveils carbon capture project in Canada’s Alberta province

July 13, 2021

Brecorder CALGARY: Royal Dutch Shell said on Tuesday it plans to build a large-scale carbon capture and storage (CCS) project near Edmonton, Alberta, joining a number of other companies proposing clean energy initiatives in Canada’s main oil-producing province. The Polaris CCS project would have capacity to store 300 million tonnes of carbon over its lifetime, and capture emissions from Shell’s

BP to take full control of Thorntons stores in U.S. retail push

July 13, 2021

Reuters BP Plc BP.L said on Tuesday it would buy the majority share it does not already own in its Thorntons joint venture from ArcLight Capital Partners LLC to expand its presence in the U.S. fuels and convenience retail business. The acquisition will bring BP more than 200 retail stores in Kentucky, Illinois, Indiana, Ohio, Tennessee and Florida and will mark

Troubled Caribbean refinery seeks bankruptcy as lenders balk at injecting more cash

July 13, 2021

Reuters The owners of Limetree Bay, a Caribbean refinery that was once the largest in the Western Hemisphere, filed for bankruptcy on Monday after lenders balked at putting new cash into a project dogged by cost overruns and regulatory troubles. The St. Croix refinery overhaul was the most expensive effort in nearly a decade to expand refining capacity in the

OPEC+ impasse means tight oil market now, volatility ahead, says IEA

July 13, 2021

Reuters LONDON – The oil market will see tighter supply for now amid a dispute inside OPEC+ about how to ease production curbs but it still faces the risk of a dash for market share if disagreement persists, the International Energy Agency (IEA) said on Tuesday. The Paris-based agency said oil prices would be volatile until differences were resolved among

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