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Petrochemical Plant Wins US Loan Despite Biden Climate Vow

Conventional Energy, Latest, Natural Gas, Oil, US News / By

Malaysia project secures $690 million Export-Import Bank loan Biden issued order to curb funding for fossil fuel projects The US Export-Import Bank authorized a $690 million loan to help help build a petrochemical plant in Malaysia, despite objections from climate activists who say the project flouts Biden-Harris administration promises to halt financing for fossil fuel projects abroad. The loan approved …

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US Expands Sanctions on Iran Oil Sector Over Israel Attack

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Move comes with Israeli retaliation expected at any time Order relies on Trump-era push to choke off Iran’s economy The US broadened the scope of its sanctions on Iran’s oil and gas sectors in response to a ballistic-missile attack on Israel, ramping up economic pressure on Tehran ahead of Israeli retaliation that’s expected any day. …

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US Drillers Add Oil and Gas Rigs for First Time in Four Weeks, Baker Hughes Says

Conventional Energy, Latest, Oil, US News / By

(Reuters) – U.S. energy firms this week added oil and natural gas rigs for the first time in four weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by one to 586 in the week to Oct. …

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Double-Punch Storms Thrust Climate Into the US Presidential Race

Conventional Energy, Energy Commentary, Energy Topics & Technology, Latest, US News / By

The strikes by Hurricanes Helene and Milton have made dealing with climate disasters a major issue in the contest’s final weeks. Back-to-back, catastrophic strikes by Helene and Milton in the southeastern US are reshaping the presidential race, putting climate disasters front and center in the final stretch of Vice President Kamala Harris and former President …

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Companies Are Dropping Carbon Offsets, But Still Buying the Worst Ones

Carbon Capture, Conventional Energy, Energy Topics & Technology, Latest, US News / By

Purchases of carbon offsets last year fell for the first time since 2016, according to an analysis of 260,000 publicly available transactions. (Corrects the percentage decrease in demand for offsets in the 2nd paragraph of a story originally published on Nov. 27, 2023, and related figures in the first two charts.) Carbon offsets once looked primed …

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Japan Could Boost LNG Buys for Emergency reserve to Nearly 1 Mln T a Year, METI Official Says

CDN and International News, Conventional Energy, Latest, Natural Gas / By

Japan is considering stepping up purchases of liquefied natural gas (LNG) for emergency needs to at least 12 cargoes a year from three now, an official of its industry ministry said, to guard against unexpected supply shocks. The reserve-boosting plan entails additional purchases by the world’s second biggest buyer of LNG after China, increasing its …

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Russia Pitches BRICS Payment System Aiming to Break US Dominance

Conventional Energy, Latest, Natural Gas, Oil, US News / By

Report says settlements with tokens could save billions Russia has sought to lower reliance on dollar after sanctions Russia is proposing changes to cross-border payments conducted among BRICS countries aimed at circumventing the global financial system, as the heavily penalized country seeks to sanctions-proof its own economy. The alternatives include developing a network of commercial …

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Canadian Natural Gas Firms Eager for LNG Boom Swamp Market with Excess Supply

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By Nia Williams Summary AECO gas prices hit a two-year low in late September on strong supply, brimming storage inventories Producers curtail up to 1 bcf/d due to low prices LNG Canada export facility due to start operating next year (Reuters) – A huge liquefied natural gas export terminal led by Shell called LNG Canada, may …

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Oil Heads for Weekly Climb on Potential Mideast Supply Disruption

Conventional Energy, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – Oil prices softened on Friday but were set for a second weekly gain as investors weighed the impact of hurricane damage on U.S. demand against any broad supply disruption if Israel attacks Iranian oil sites. Brent crude oil futures fell 60 cents, or 0.8%, to $78.80 a barrel by 0957 GMT. U.S. West …

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ExxonMobil-Led Consortium to Continue Seismic Research for Gas off Crete, Says Greece

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By Reuters (Reuters) – An ExxonMobil-led consortium will move to the second phase of seismic research for gas exploration in a block off the Greek island of Crete, Greece said on Thursday. Hellenic Hydrocarbons and Energy Resources Management Company (HEREMA) said that the consortium of ExxonMobil and Hellenic Energy have acquired a total of 7,789 kilometres …

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