Four of the largest grid operators in the US are raising concerns about guidelines proposed by the US Environmental Protection Agency (EPA) to reduce carbon emissions from power plants. PJM Interconnection LLC, Electric Reliability Council of Texas (ERCOT), Southwest Power Pool (SPP), and Midcontinent Independent System Operator (MISO) submitted comments on EPA’s proposed rule on new source performance standards for greenhouse gas emissions, highlighting concerns with grid reliability. , according to a Tuesday press release from PJM. “As the penetration of renewable resources continues to increase, the grid will need to rely even more on generation capable of providing critical…
Author: Automotivedealernews.com
Colombian state-owned company Ecopetrol SA has confirmed the discovery of oil and gas at its Alqamari-2 well in Orito, Putumayo. The Alqamari-2 well was drilled at a depth of 2.8 kilometers (9,287 feet) in the Putumayo basin, where hydrocarbons were found with a daily flow rate of more than 1,800 barrels of oil, Ecopetrol said in a statement press Thursday The discovery included light oil and gas amounting to 825,000 cubic feet per day, according to the release. Ecopetrol’s discovery “has a great competitive advantage as it is located in an area close to fields in production and existing infrastructure”,…
Indian buyers, key consumers of cheap Urals crude since the invasion of Ukraine, have no plans to move away from Moscow even if the discount to global benchmarks narrows, arguing that Russian barrels remain one of their most affordable options. India’s consumption of Russian crude has soared since last year, with the country becoming a leading supplier, knocking out Saudi Arabia and Iraq from the top spots. Much of this has been driven by price, and by Prime Minister Narendra Modi’s efforts to control energy inflation, but that dynamic is changing. At the start of this year, the spread between…
One of the main impacts of the pandemic was walking into supermarkets to see vast stretches of bare shelves where, for decades, stacks of toilet paper, nappies, baby formula, cooking oil and even white flour used to magically repopulate overnight. The solution turned out to be relatively simple: get people back to work and fix the problems with delivery networks. (Now our only concern is how expensive everything is!) Rebuilding inventories in the oil and gas industry, on the other hand, is an ever-present, longer-term, more complicated concern that involves a wide range of variables and uncertainties. In today’s RBN…
Tamboran Resources Ltd. said it will issue 5,027,430 shares this week in another fundraising effort for its Beetaloo Basin project in Australia. The share purchase plan, an ordinary placement aimed at existing investors, is priced at $0.12 (AUD 0.18) per unit, for a total of $593,000 (approximately AUD 905,000). Tamboran has sought regulatory approval for the securities, which have already been subscribed, to be listed on the Australian Stock Exchange (ASX), according to documents filed this week. The issuance is part of the gas developer’s program to raise capital for exploration and development at its 1.9 million net acreage at…
Heriot-Watt University (HWU) has announced that it is launching a Master of Science program “to provide advanced training in the increasingly urgent work of the energy transition”. The program is delivered face-to-face at the University’s Orkney campus through the School of Energy, Geoscience, Infrastructure and Society (EGIS) and focuses on technologies, systems, processes and economics, along with design of transition projects to move away from fossil fuels and accelerate the integration of renewable energies, HWU said in its media release. The Master in Renewable and Sustainable Energy Transition (MSc ReSET) is based on the rapidly growing discipline of Transition Engineering,…
Oil’s seven-week rally, fueled by growing signs of a tightening market, stalled near year-highs as technical barriers stymied further advances. Crude has risen about 20% since late June as OPEC and its allies cut output, and the cartel’s most recent monthly report shows the market is on track to to a deficit of 2 million barrels per day this quarter. Crude oil’s fast spreads have widened to their biggest narrowing since November, and options markets have also turned more bullish. Still, concerns about potential weakening consumption have capped gains, and West Texas Intermediate settled into nine-day overbought territory for the…
OPEC data indicated global oil markets are headed for a sharp supply shortfall of more than 2 million barrels a day this quarter as Saudi Arabia cuts production. Production from the Organization of the Petroleum Exporting Countries fell last month as the kingdom implemented a unilateral cut to shore up markets, the group said in a report on Thursday. The Saudis will keep the cut this month and next as planned, meaning OPEC output could average the current rate of about 27.3 million barrels per day for the entire quarter. OPEC data suggests that is about 2.26 million a day…
In a market update sent to Rigzone on Wednesday afternoon, Rystad Energy senior analyst Zongqiang Luo noted that the first-month gas price at the Dutch Title Transfer Facility (TTF) increased by 30 percent on August 9, “exceeding $12 per million British thermal.” units (MMBtu) on news of possible attacks on LNG facilities in Australia.” The possible strike would be led by Australian workers at Chevron and Woodside Energy Group, which may disrupt four LNG facilities, Luo noted in the update, adding that any such strike could disrupt about half of the Australia’s LNG export capacity and making many Asian buyers…
TotalEnergies has contracted EnerMech for the maintenance of cranes and elevators at a new facility to be built in Pointe-Noire, Congo’s second largest city. According to an EnerMech media release, it is a five-year term with a price tag of $15.2 million. The scope of work will include specific maintenance of the crane and lifting equipment, and supply of parts onshore and offshore for three offshore sectors including Likouf and Nkossa, the company said. The deal also includes stretching, mooring and tensioning systems, he added. EnerMech also said it has established a new entity, EnerMech Congo, to carry out the…