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Cenovus Blasts Canadian Government Over Lack of Support for Carbon Capture

Carbon Capture, CDN and International News, Energy Topics & Technology, Latest / By

‘Stick-based approach with some carrots thrown in’ Bloomberg News Robert Tuttle Cenovus Energy Inc. blasted the Canadian government for not providing enough financial support for the oilsands industry’s proposed $16.5-billion carbon capture system. The federal government has proposed tax credits covering about half of the capital costs for the project, and Alberta has offered a 12 per …

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U.S. Considers Selling Northeast Gasoline Reserve in 2024 in Draft Bill

Energy Topics & Technology, Gasoline, Latest, US News / By

The United States may sell its 1 million barrel Northeast gasoline reserve in fiscal year 2024, according to the draft text of a funding bill released on Sunday. The reserve, first established in 2014 after Superstorm Sandy left motorists in the northeastern United States without fuel, is located in New York Harbor, New York, Boston, …

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Hydrogen Wildcatters Still Need to Find Their First Gusher

Energy Topics & Technology, Hydrogen, Latest, US News / By

By David Fickling David Fickling is a Bloomberg Opinion columnist covering energy and commodities. Previously, he worked for Bloomberg News, the Wall Street Journal and the Financial Times. Think of an iconic image of the petroleum age, and you may well be picturing a fountain of crude spouting hundreds of feet into the air, scattering …

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Qatar’s Gas Push Has a Hidden Motive – Murdering Coal

CDN and International News, Conventional Energy, Energy Topics & Technology, Exploration & Production, Latest, LNG / By

The nation is seeking to exploit the energy transition by boosting LNG production. By Javier Blas Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.” The energy transition will eventually be a zero-sum game — for …

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Kerry Bows Out as Man Asked to Repair U.S. Climate Reputation

Energy Topics & Technology, Latest, US News / By

It was the day before Joe Biden’s inauguration as US president, and the man who would become one of his top diplomats was already plotting how to return the US to an international fight against climate change it had ceded four years earlier. With Covid-19 still raging, John Kerry huddled in a Maryland backyard with at least …

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OPEC+ Will Soon Confront a Tougher Oil-Market Test

Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

Producers may need to stick with output curbs for the entire year, and the cooperation of all is far from guaranteed. OPEC+ may have put a floor under crude prices by extending oil supply cuts for another quarter, but the group will soon face a more grueling test. Saudi Arabia and its partners agreed Sunday to keep …

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TC Energy to Sell Portland Natural Gas Transmission System for $1.14 Bln

Conventional Energy, Energy Topics & Technology, Latest, Natural Gas, Pipelines, US News / By

Reuters March 4 (Reuters) – TC Energy  said on Monday it has agreed to sell Portland Natural Gas Transmission System (PNGTS) to BlackRock  for $1.14 billion as part of its ongoing efforts to reduce debt and fund investments. CEO Francois Poirier had said in 2022 the company planned to raise more than C$5 billion ($3.69 billion) through 2023. The …

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U.S. Funding Bill Blocks China From Buying Oil From Strategic Petroleum Reserve

Conventional Energy, Energy Storage, Energy Topics & Technology, Latest, Oil, Tri-Pinned, US News / By

(Reuters) – A measure in the U.S. funding legislation unveiled by congressional leaders on Sunday would block China from buying oil from the Strategic Petroleum Reserve. The desire for a hard line on China is one of the few truly bipartisan sentiments in the deeply divided U.S. Congress, and lawmakers have introduced dozens of bills …

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OPEC+ Members Extend Oil Output Cuts to Second Quarter

CDN and International News, Conventional Energy, Energy Topics & Technology, Latest, Oil, OPEC / By

Summary OPEC+ producers to continue cuts of 2.2 million bpd Russia to deepen oil output cuts, ease export limits Oil seen opening stronger when trading resumes – PVM DUBAI, March 3 (Reuters) – OPEC+ members led by Saudi Arabia and Russia agreed on Sunday to extend voluntary oil output cuts of 2.2 million barrels per …

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Chevron Idles Two U.S. Midwest Biodiesel Plants as Profits Slip

Biofuels, Energy Topics & Technology, Latest, US News / By

(Reuters) – Chevron  has indefinitely idled two biodiesel production facilities in the U.S. Midwest, the company confirmed on Friday, citing poor market conditions. The second-largest U.S. oil producer bought biodiesel maker Renewable Energy Group for $3.15 billion in 2022 to expand its renewable fuels production to 100,000 barrels per day by 2030. The deal brought it 10 biodiesel …

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