The US oil, natural gas and NGL markets are more interconnected than ever, with each other and with global dynamics. The deep connections we see today have evolved in the 15 years since the start of the shale revolution, and by recognizing how different segments have impacted each other, we can better explain how they are driving today’s markets. This was the focus of our Fall 2023 Energy School and is the subject of today’s RBN blog, which (warning) is a blatant ad for Encore Energy Schoola newly available online version of our recent conference. The School of Energy conference,…
Author: Automotivedealernews.com
The Orana Central West Renewable Energy Zone (REZ) in New South Wales (NSW), Australia has achieved a major milestone by becoming the first REZ to submit an Environmental Impact Statement (EIS ) for a transmission project that will connect the REZ to the electricity grid. Once complete, the Central West Orana REZ will deliver at least 3 gigawatts (GW) of transmitted electricity, which is enough to power 1.4 million homes, according to a press release from the NSW Minister for Energy and Climate Change. The REZ project will bring NSW closer to its target of replacing 12 GW of renewable…
The US Department of Energy (DOE) has awarded $167.7 million to the eighth cohort of a grant aimed at protecting power transmission systems from natural disasters, including 20 tribal nations and 11 states. Two territories make up the latest group of recipients of Grid Resilience State and Tribal Formula Grants, a five-year program that allocated $2.3 billion to improve the reliability of power grids against disruptions such as extreme weather and wildfires. More than $748 million from the fund has now been awarded to 48 states, 49 tribal entities and three territories, “providing clean electricity, lowering energy costs and keeping…
The U.S. fall refinery maintenance season is shaping up to be the busiest since before the Covid-19 pandemic forced plants to cut rates and delay all but emergency work. According to data from Energy Aspects LTD, almost 2.5 million barrels per day of refining capacity will be taken offline for maintenance from September to December. This is 11% more than the same period last year. Looking ahead, some predict that the first quarter of 2024 will be the busiest maintenance season on record, loaded with deferred work and regularly scheduled changes to crude oil units, fluid catalytic crackers for gasoline…
Waco Oil and Gas Co. Inc. has reached a settlement with the Department of Justice, the US Environmental Protection Agency (EPA) and the state of West Virginia to resolve the alleged pollution violations. Waco was alleged to have violated the Clean Water Act and West Virginia state law with unauthorized discharges of dredged or fill material into waters in Braxton County, West Virginia, according to a news release Friday of the Department of Justice. A complaint filed alleged that beginning in about 2017, Waco Oil and Gas dumped dredged or fill material into Bear Run tributaries and adjacent wetlands, as…
North America lost the most rigs week-over-week, according to Baker Hughes’ latest rotating rig count, which was released on September 29. The region shed six rigs week over week, with the U.S. cutting seven rigs and Canada adding one rig during the period, according to the rig count. The total North American rig count is now 814, including 623 teams from the US and 191 from Canada, the count showed. Of the total 623 US rigs, 600 are classified as land rigs, 20 as offshore rigs and three as inland water rigs. The total rig count is made up of…
Yverdon Sport FC are not a household name in European football, but Jamie Welch is determined to make his purchase of the Swiss club earlier this year the start of something bigger. The former Credit Suisse banker turned oil trader from Houston sees his purchase of scrappy upstart Yverdon, which just won promotion to the top-flight Swiss Super League this year, as a step towards buying other underrated clubs. “We’re looking at other clubs” elsewhere in Europe, and envision a “multi-club platform, which is really what we’re trying to create,” Welch said in a recent interview from the Houston headquarters…
Government forecasts predict a sharp decline in demand for natural gas in the electricity sector in the coming decades, based on the expectation that the expansion of renewable capacity will accelerate and displace other sources. However, forecasts over the last decade have consistently and severely underestimated gas burning for energy. In today’s RBN blog, we consider the pitfalls of forecasting gas consumption in a world often focused on driving a renewables-intensive generation stack. Demand for natural gas in the power sector (that is, energy combustion) was not expected to set records this summer. The summer of 2022 was exceptionally hot…
The European Investment Bank (EIB) has agreed to provide a guarantee of 175 million euros ($185 million) to allow the Landesbank Baden-Wuerttemberg (LBBW) to release capital and channel 350 million euros ($370.5 million of dollars) in new financing for clean energy projects in Germany. . The EIB said in a press release that this is one of the first transactions of its kind in Germany, contributing to the decarbonisation of the German economy and Europe’s energy independence. The underlying reference portfolio amounts to €3.2 billion ($3.38 billion) and consists of loans to small and medium-sized companies and other corporate entities…
Blackline Safety Corp. has been awarded a $3.5 million contract to provide more than 850 wearable security devices and other security solutions for the workforce of a leading US infrastructure company. The unnamed client is a company active in the natural gas, oil and energy industries, he said in a news release that did not name the company. Blackline Safety said it has been contracted to provide more than 850 G7x cloud-connected safety devices for the customer’s workforce, which often works in remote or confined spaces in hazardous locations. The company also purchased more than 850 G7 bridges, Blackline’s portable…