IEF Chief: When the Public Figures out Transition’s Cost, ‘We’re in Big Trouble’
Also, developing and undeveloped countries are pushing back, with one African minister saying “we will decarbonize after we carbonize.”
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CERAWeek: AI Emerges as Next Shiny Thing in the Energy World
Executives gathered at CERAWeek say the technology has potential to become a huge source of demand, as well as reshape production. The energy industry, which has prided itself on innovation since the days of kerosene lamps, has a flashy new technology to be bullish about: artificial intelligence. During on-stage discussions and one-on-one interviews, energy executives from …
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CERAWeek: BP Could Sanction GoM’s Kaskida this Year, CEO Says
BP Plc is eyeing the sanction of its Kaskida deepwater project in the Gulf of Mexico in 2024, the company’s CEO Murray Auchincloss said during CERAWeek by S&P Global.
No Go Joe: Biden’s LNG-Permit Halt Challenged by 16 States in Lawsuit
White House pause on new permits threw sector into disarray Ban will ‘annihilate critical jobs’: Texas attorney general Texas, Louisiana and more than a dozen other US states challenged the Biden administration’s suspension of new licenses to export natural gas via ocean-going tankers. A lawsuit filed against President Joe Biden and the US Department of Energy in Louisiana federal court on …
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Oil Traders Expect Stocks to Fall Significantly after OPEC Extends Cuts
By John Kemp LONDON, March 21 (Reuters) – Global petroleum inventories are only slightly below the long-term seasonal average but futures prices have already moved into a steep backwardation as traders anticipate they will deplete further over the rest of 2024. OECD commercial inventories of crude oil and refined products are estimated to have been around …
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BlackRock Urges Texas Fund Managers to Reconsider After $8.5 Billion Divestment
(Reuters) – A senior BlackRock executive said on Thursday the world’s largest asset manager was “dismayed” by a Texas state fund’s move to pull $8.5 billion in assets, and urged the fund’s administrators to reconsider. Texas State Board of Education Chair Aaron Kinsey said on Tuesday the Texas Permanent School Fund (PSF) was terminating a contract with …
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CERAWeek: Large Language Models Fuel Industry-wide Productivity
AI experts promote the generative advantage of using AI to handle busywork while people focus on innovations.
Canada’s Trans Mountain Expansion Startup Date Hangs on Final 2.5-Km Leg
Last segment goes through hard rock in rugged B.C. terrain Bloomberg News The startup date for Canada’s mega oil pipeline should be known within weeks as Trans Mountain Corp. drills through hard rock in British Columbia’s rugged Fraser Valley for the final stretch of the 1,150-kilometre conduit. “The next few weeks will be very important in terms …
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U.S. Pipeline Firms Poised to Follow Biggest Customers into M&A
U.S. energy pipeline and storage operators have spent two years watching the consolidation of oil and gas producers, and now they are gearing up for the merger wave to hit their sector, executives, investors, and analysts said. The midstream sector has a lot of specialized midsize firms and only a handful of very large operators …
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LNG Growth to be Met by Other Countries if U.S. Walks Away – Baker Hughes CEO
If the U.S. pulls back from permitting new liquefied natural gas (LNG) export plants, demand for the fuel will still be met from projects in Qatar, Argentina and Africa, the CEO of Baker Hughes, the world’s largest provider of equipment for the LNG sector, said on Thursday. The Biden administration in January paused new export …
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