Reuters MILAN – Eni ENI.MI has agreed to buy one of the largest onshore wind portfolios in Italy from fund manager Glennmont Partners as part of plans to expand its green energy business. The Italian energy group will buy a 315 megawatt portfolio comprising 13 plants, taking its overall wind capacity in Italy to 350 MW, it said in a statement
Reuters LONDON – U.S. petroleum inventories have fallen below the pre-pandemic five-year average with consumption accelerating but crude producers slow to respond to rising prices, signalling more supply is needed. Total stocks of crude and refined products outside the strategic petroleum reserve fell by 10 million barrels last week and are now down by 188 million barrels compared with the
Reuters U.S. Treasury Secretary Janet Yellen called on Friday for better international coordination on carbon-cutting policies to avoid trade frictions, days before the European Union is due to unveil a controversial carbon border tax. The EU’s carbon border adjustment mechanism (CBAM) would impose levies on the carbon content of imported goods in an effort to discourage “carbon leakage”, the transfer of production to countries with
Nasdaq BRUSSELS/LONDON – A European Union plan to extend carbon pricing to the fuel used in cars and to heat homes is facing a wall of early resistance from countries and lawmakers fearing a public pushback unless backers find ways to compensate those worst hit. According to leaked drafts, the scheme would set up an Emissions Trading Scheme (ETS) for
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®
Reuters NEW YORK – North Dakota is suing the U.S. government on claims the Department of the Interior and the Bureau of Land Management illegally canceled oil and gas lease auctions in the state. The complaint, filed late Wednesday with the United States District Court for the District of North Dakota Western Division, said March and June auctions nixed by
Reuters RIO DE JANEIRO – Brazil President Jair Bolsonaro was not consulted or informed about state oil giant Petrobras’ decision this week to raise fuel prices, which underscores the company’s independence, Chief Executive Joaquim Silva e Luna told Reuters on Wednesday. The ex-army general chosen in April by Bolsonaro to lead the company said there has not been and there
Nasdaq LONDON – A private sector taskforce set up to help grow the voluntary carbon offset market into a multibillion-dollar marketplace said on Thursday it was seeking members for the governance body who will set its rules. Currently offsets, generated through emission reductions such as planting trees or switching to less polluting fuels, trade in a small voluntary market, often
Reuters NEW YORK – Oil prices rose on Thursday, rebounding from early losses after U.S. government data showed a much bigger drop than expected in crude and gasoline inventories. Still, Brent prices remained about $3 a barrel below Monday’s close, as traders worried global crude supplies might swell following the collapse of negotiations between the Organization of the Petroleum Exporting
Natural Gas Inventories as of July 2, 2021 The EIA has released its natural gas inventory report, showing a net increase of 16 Bcf as of July 2, 2021. Working gas in storage was 2,574 Bcf as of Friday, July 2, 2021, according to EIA estimates. This represents a net increase of 16 Bcf from the previous week. Stocks were
Reuters Wind and solar power capacity expanded rapidly in 2020 while global energy demand cratered because of the pandemic, yet this did not yet reflect a “decisive shift” towards meeting U.N.-backed climate goals, BP said in its annual energy review. Last year witnessed the biggest fall in carbon emissions in more than 75 years, putting the world closer to the
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®
