Texas-based Fluor marked a milestone when it completed the module manufacturing program at LNG Canada’s project in Kitimat, British Columbia, the company said in a press release Tuesday. The last module was shipped from the company’s manufacturing yard in Zhuhai, China, and arrived this week, marking the completion of a critical phase in the construction of a large terminal for liquefaction, storage and cargo of liquefied natural gas (LNG) for export to global markets, Fluor said in the press release. Fluor and its joint venture partner JGC Corporation are involved in multiple aspects of the LNG project in Canada, including…
Author: Automotivedealernews.com
Houston-based geothermal startup Fervo Energy has successfully completed a well test to confirm the commercial viability of using oil and gas drilling technology for geothermal energy, the company said in a statement press tuesday The 30-day well test, a standard for geothermal, achieved a flow rate of 63 liters per second at high temperature enabling 3.5 megawatts (MW) of electrical production, setting new records for both flow rate and power output. ‘an improved geothermal system. according to the statement. The test was conducted at Fervo Energy’s large-scale commercial pilot, called Project Red, in northern Nevada. “By applying drilling technology from…
A debt owed by Shell Plc and seven Nigerian banks to a domestic oil producer in the West African nation in connection with an asset sale in 2015 has ballooned to about $2.6 billion, according to people familiar with the matter. Aiteo Eastern E&P Co. bought a pipeline and operating stake in one of the country’s most prized onshore oil blocks eight years ago for $2.4 billion. Zenith Bank Plc, Fidelity Bank Plc, Guaranty Trust Bank Plc and other local lenders lent the company $1.5 billion to support the acquisition, while Shell, the permit seller, provided $504 million in financing…
On Monday, climate tech startup Isometric launched a publicly accessible platform to investigate the science behind the growing number of startups pulling carbon from the atmosphere. Carbon removal will be key to avoiding catastrophic global warming in the coming decades. It also has the potential to be a trillion-dollar industry, according to BloombergNEF estimates. But while a growing number of startups are promising to do just that, the emerging industry has no shared standards or protocols, or methodology for assessing the amount of CO2 removed by its processes. Isometric is one of a number of companies trying to change that.…
Major importers of liquefied natural gas (LNG) in the European Union and Japan aim to establish an assessment platform to monitor methane emissions from LNG projects. The platform is intended to support an industry alliance to curb LNG methane emissions that was simultaneously announced by JERA Co. Inc. of Japan and Korea Gas Corp. (KOGAS) on Tuesday. The Coalition to Reduce LNG Emissions Towards Net-Zero would bring together the efforts of both LNG buyers and producers to reduce emissions of methane, the hydrocarbon blamed for more than a quarter of emissions of greenhouse gases. “With the support of the governments…
India is in talks with traditional Middle Eastern crude exporters to increase purchases as Russian imports lose their price advantage, according to a government official. The discount on Russian crude has narrowed sharply, making the Urals, the country’s main export grade, less attractive, making it prudent to buy from trusted suppliers, the official said, declining to be identified by citing rules. India and China have been the two dominant buyers of Russian crude since the invasion of Ukraine more than a year ago after the war prompted other countries to shun the OPEC+ producer. The South Asian nation’s oil imports…
Fewer than a handful of US midstream companies own and operate extensive NGL networks that do it all: extract blended NGLs from associated gas at their processing plants, transport this “grade Y” to their facilities to ‘storage of the underground salt cavern in Mont Belvieu, fractionated. they blended NGLs into so-called “purity products” in their fractionators, then piped that ethane, LPG and other products to domestic end users or company-owned export docks. Enterprise Products Partners is a member of this select group, and as we discuss in today’s RBN blog, its NGL network, which stretches from the Appalachians to the…
Global advisory firm Opportune has conducted an independent study of plugging and abandonment (P&A) liability on the US Outer Continental Shelf (OCS) and the resulting risk to US taxpayers. The study conducted a cost-benefit analysis of a proposed rule by the Bureau of Ocean Energy Management (BOEM) to revise previously proposed regulations to increase bond requirements, all to protect taxpayers. “Regardless of the genuine intent of all stakeholders, additional restrictions on oil and gas capital are the greatest threat to the American taxpayer,” the study said. The proposed rule, according to Opportune, would financially impact the offshore oil and gas…
Two Texas congressmen are calling on the Environmental Protection Agency to reject their state’s effort to monitor underground carbon storage and are calling for an investigation, arguing that local regulators can’t be trusted to protect the public. The EPA currently regulates underground carbon storage in most of the country, except for North Dakota and Wyoming, which have been approved to oversee their own efforts. The EPA is understaffed to regulate underground carbon storage, and companies are increasingly interested in capturing carbon and storing it underground due in large part to economic incentives from the Carbon Reduction Act. the inflation Texas…
Australia’s Woodside Energy Group Ltd is moving the first oil production target from its Sangomar field in Senegal to mid-2024 from its initial estimated date of early 2023, the company said in a press release on Tuesday. Woodside also revised the total cost of the project to a range of $4.9 billion to $5.2 billion, an increase of seven to 13 percent from the previous cost estimate of $4.6 billion. The company revised the first oil production target and project cost after identifying unexpected remedial work required at the floating production storage and offloading (FPSO) facility of the project’s Phase…