When you’re competing for billions of federal dollars, you need more than a sensible approach and a strong economic case. You need a real competitive advantage. That’s what Hy Stor Energy believes it has with its proposed Mississippi Clean Hydrogen Hub (MCHH). It sees off-grid renewable energy and large-scale salt dome storage capacities as the surest path to decarbonization for a myriad of industrial needs. In today’s RBN blog, we look at the overall strategy behind the MCHH, the plan to produce 100% green hydrogen, and how Hy Stor hopes to beat the competition and secure Department of Energy (DOE)…
Author: Automotivedealernews.com
BP plc has begun construction on its 187 megawatt conditional (MWdc) Peacock Solar project, located 10 miles north of Corpus Christi in San Patricio County, Texas. Peacock will sell all the electricity it generates under a long-term power purchase agreement to Gulf Coast Growth Ventures (GCGV), a joint venture between ExxonMobil Corp and Saudi Basic Industries Corporation (SABIC), which produces materials used to manufacture clothes and food. containers, packaging, agricultural films and construction materials, BP said in a press release on Tuesday. Located near the GCGV complex, Peacock will supply power directly to the facility. Once completed, the facility will…
Buyers are sending grain and oil from further afield after Russia’s invasion of Ukraine disrupted traditional trade routes. Grain shipments traveled longer distances in 2023 than any other year on record as importers switched to buying from other countries after Ukraine’s exports were blocked, according to a review of shipping by the Conference of the United Nations on Trade and Development, or UNCTAD. Oil cargoes have also traveled further since at least 1999 as Russia sought new export markets. “We have longer distances being traveled mainly because of the disruption in the Black Sea and because of the war in…
Oil jumped to a new one-year high as crude stockpiles in the largest U.S. storage center fell to their lowest level since July 2022. West Texas Intermediate settled above $93 a barrel after inventories in Cushing, Oklahoma fell below 22 million barrels, near operational lows. The short-term premium for US benchmark West Texas Intermediate is trading above $2 a barrel, the highest since July 2022, as the futures market reflects physical stiffness. While oil’s recovery has brought back talk of $100 crude, gains had slowed over the past week. India, a key consumer, has seen the negative effects of rising…
Australian mineral resources company Anson Resources, which has assets in the United States, has submitted a Plan of Operation (POO) to begin a drilling program at its Green River Lithium project in southeastern Utah. He said in a press release on Tuesday that the OOP has been submitted to the Department of the Interior, Bureau of Land Management, while a Notice of Intent (NOI) has been submitted to the Division of Oil, Gas and Utah Mining (UDOGM), Minerals. division Additionally, an application permit to drill has been submitted to UDOGM because of the well depths, Anson said. East of the…
The oil market is well aware that the main reasons why oil has risen by 25 percent over the past few months is the reduction in production from Saudi Arabia and Russia, global oil demand holding up better than which was feared and the decline in US shale oil activity. That’s what Skandinaviska Enskilda Banken AB (SEB) chief commodity analyst Bjarne Schieldrop described in a new SEB report, which was sent to Rigzone on Tuesday. The big question, however, according to Schieldrop’s report, is how strong global oil demand is and how it will hold up, or even increase, in…
Achieving net zero emissions by 2050 and limiting global warming to 1.5 degrees Celsius is still possible but needs “stronger international cooperation” and increased momentum in many areas, the International Climate Agency said. Energy (AIE). In the latest update to the IEA’s Net Zero Roadmap report, the agency said meeting climate targets is possible due to record growth in key clean energy technologies. The 2023 update “incorporates the significant changes in the energy landscape of the past two years, including the post-pandemic economic recovery and extraordinary growth in some clean energy technologies, but also increased investment in fuels fossils and…
The offshore region – an area beyond a port and its anchorage – that experienced the most maritime crimes in 2023 is the Straits of Malacca and Singapore (SOMS). That’s what Dryad global analyst Noah Trowbridge told Rigzone, adding that this narrow maritime region bordering the coasts of Indonesia, Malaysia and Singapore has seen 58 reported incidents in 2023, “the highest of any offshore region”. “These incidents usually involve small groups of armed attackers boarding ships under cover of darkness to steal spare parts and possessions from the crew,” Trowbridge said. When asked why this region was experiencing the highest…
The Nigerian government has signed an agreement with oil giants that aims to reduce the length of the award process for oil development projects to six months for existing Production Sharing Contracts (PSCs). The pact, a memorandum of understanding that also serves as a service level agreement (SLA), is “aimed at rapidly increasing Nigeria’s crude oil production, ensuring compliance with the provisions of the Content Act Nigerian and timely approval of documents,” the Nigerian Content Development and Monitoring Board (NCDMB) said in a press release on Monday, referring to a law that regulates oil and gas development projects. Besides the…
QatarEnergy’s gas production group has used Worley Ltd. for the construction of a carbon dioxide (CO2) sequestration project at home that can capture 4.3 million metric tons per year. Due for completion in 2024, the project in Ras Laffan, Qatar, will help “further reduce QatarEnergy LNG’s environmental impact across LNG. [liquefied natural gas] value chain by reducing emissions from its seven LNG trains at QG North and three LNG trains at QG South,” Australia-based Worley said in a press release on Monday. The project will feature compression trains and piping, all of which will be installed after Worley completes its…