A coal, nuclear power bailout may cost more than $34 billion, study says

A Trump administration plan to bail out otherwise uneconomical coal-fired and nuclear power plants potentially could cost consumers more than $34 billion over a 2-year period, a study commissioned by the Natural Gas Supply Association, American Petroleum Institute, and four other national energy associations concluded. Source: News


Oil industry groups welcome proposals to change parts of the ESA

Oil and gas industry associations welcomed the Trump administration’s proposals to revise portions of the Endangered Species Act so they are more clear and consistent. Officials from the US Fish & Wildlife Service and the National Oceanic and Atmospheric Administration jointly announced the proposed changes on July 19. Source: News


Jemena completes Northern Gas Pipeline construction

Energy infrastructure company Jemena has reported that construction of Australia’s 622-km Northern Gas Pipeline (NGP) has been completed. The line extends from Tennant Creek in the Northern Territory to Mt. Isa in Queensland and connects the Amadeus to Darwin pipeline Northern Territory grid with the Queensland (and South Australian) grids. Source: News


Woodside exits Port Arthur LNG development

Woodside Petroleum Ltd., Perth, has exited the Sempla Energy-led Port Arthur LNG gas export development project in Texas. Woodside joined the project 3 years ago but is now citing lower-than-expected returns than would justify the investment as the reason for walking away. Source: News


ADNOC, CNPC to explore more cooperation

Abu Dhabi National Oil Co. and China National Petroleum Corp. have signed a “strategic cooperation framework agreement” covering oil and gas opportunities beyond those in which they already work together. Source: News


ExxonMobil PNG-LNG group signs sale agreement with PetroChina

The ExxonMobil Corp.-led PNG-LNG joint venture in Papua New Guinea has signed a midterm LNG sale and purchase agreement with PetroChina International (Hong Kong) Corp. Ltd. for the supply of LNG from the Southern Highlands project beginning this month. Source: News


MARKET WATCH: NYMEX oil prices rebound after Saudi production statement

Light, sweet crude oil prices dropped in intraday trading July 19 in New York on continued oversupply fears as output from the US and Saudi Arabia both increased, but a strong statement from the Saudis on July 19 boosted prices to settle higher. Source: News