US Sen. John Cornyn (R-Tex.) introduced legislation on May 23 that would require the US Department of Energy to establish a research, development, and demonstration program for carbon capture technologies at natural gas-fired power plants. Source: News
Consortium launches industrial-scale CCS project
A consortium of 11 European stakeholders including ArcelorMittal, Axens, IFP Energies nouvelles (IFPEN), and Total SA, has launched a project to demonstrate an innovative process for capturing carbon dioxide from industrial activities. The so-named DMX project is part of a more comprehensive study dedicated to the development of the future European Dunkirk North Sea carbon […]
Officials outline trials, prospects at USEA meeting
The US will need to equally address global climate change and other substantive trials if it expects to benefit from promising energy opportunities worldwide, speakers at the US Energy Association’s annual meeting and public policy forum generally agreed on May 23. Source: News
MARKET WATCH: NYMEX crude contract ends week below $59/bbl
The light, sweet crude oil contract for July gained modestly to settle under $59/bbl on May 24, stabilizing after the biggest single-day drop of this year and ending a volatile week on the New York market. Brent crude also gained less than $1 to settle at under $69/bbl on May 24. Source: News
Watching Government: A new COGCC gets to work
A reconstituted Colorado Oil & Gas Conservation Commission went to work on May 21 developing regulations under the state’s new oil and gas law, SB 19-181, following Gov. Jared Polis’s (D) appointments 4 days earlier of seven members for terms expiring July 1, 2020. They represent a wide range of specific interests. Source: News
Aramco, Sempra sign large LNG deal
Sempra Energy and Saudi Aramco announced their respective subsidiaries—Sempra LNG and Aramco Services Co.—have signed a heads of agreement that anticipates the negotiation and finalization of a definitive 20-year sale-and-purchase agreement covering 5 million tonnes/year of LNG from the Port Arthur export project under development. Source: News
First quarter earnings weighed down by lower oil prices, weaker margins
A group of 56 US-based oil and gas producers and refiners reported a combined net income of $8.1 billion for this year’s first quarter, down nearly 50% from earnings in last year’s first quarter. Collective revenues totaled $227.6 billion, flat with revenues a year ago. Source: News
Balancing risk and innovation
The offshore deepwater segment of the oil and gas industry is seeking transformative technologies from sources both inside and outside of the industry and working to refine the ways in which it partners with smaller companies and balances risk. Source: News
Misinformed activism undermines attention to climate change
Everyone’s wrong sometimes. Most people, though, don’t make a show of it. Source: News
Baker Hughes: Canada adds 15 rigs for the week
Canada has added 15 rigs for the week ended May 24, according to Baker Hughes data. With 78 rigs running, the count is slightly less than the 81 units drilling this week a year ago. The number of oil-directed rigs in Canada increased by 16, bringing the count to 38 rigs for the week. Gas-directed […]