New York’s state pension fund is restricting investment in six Canadian oil sands companies because they have not shown they are prepared for a transition to a low-carbon future, the fund’s Comptroller Thomas DiNapoli said on April 12. The New York State Common Retirement Fund will divest more than $7 million in securities already held
Read More...TC Energy Corp. is exploring opportunities to invest in renewable energy as the Canadian-based pipeline operator aims to expand its power business and lower emissions, the company said in an April 12 release. “We are exploring opportunities to electrify and use renewable energy to power certain TC Energy proprietary energy loads,” Corey Hessen, TC Energy
Read More...U.S. oil output from seven major shale formations is expected to rise for a third straight month, climbing by about 13,000 bbl/d in May to 7.61 million bbl/d, the U.S. Energy Information Administration (EIA) said on April 12. The biggest increase is set to come from the Permian Basin, the top-producing basin in the country,
Read More...Mexico City — The COVID-19 pandemic has had a disastrous impact on national economies across Latin America, KraussMaffei Group’s top executive in the region said April 12. “A lot of people are saying Latin America has lost 10 years of development due to the pandemic,” Klaus Jell, the German injection molding machine maker’s vice president
Read More...The U.S. rig count rose by 16 as of April 7, according to Enverus Rig Analytics, with the addition of two gas rigs while the overall number of oil rigs remained steady. The count is up 9% in the last month but down 17% year-over-year. The largest change in the last week was in the
Read More...Wind generated the most electricity in the Texas power grid in March, according to federal energy data, with analysts at S&P Global Platts saying this was the first time wind topped gas-fired generation. Wind generated 39% of the power in March in the Electric Reliability Council of Texas (ERCOT), the state’s grid operator, according to
Read More...Lebanon’s caretaker prime minister on April 12 approved a draft decree expanding the country’s claims in a dispute with Israel over its maritime border that has held up hydrocarbon exploration in the potentially gas-rich area. Hassan Diab signed off on the document after the minister of public works and the minister of defense earlier agreed
Read More...The following information is provided by BOK Financial Securities Inc. All inquiries on the following listings should be directed to BOK Financial Securities. Hart Energy is not a brokerage firm and does not endorse or facilitate any transactions. BOKF Petro Holdings II LLC is offering for sale certain nonoperated working interest properties in Montana and North Dakota. Highlights: 3,556
Read More...Blue Ash, Ohio-based Milacron introduced the next generation of a top-selling, all-electric machine series after making upgrades to improve flexibility and lower life cycle costs. The Fanuc Roboshot Alpha-SiB series is replacing the SiA series as Milacron continues a partnership with Fanuc in the Americas that dates back more than 35 years. The Alpha-SiB series
Read More...Matthews, N.C.-based Gneuss Inc. added a size across its line of rotary filtration system for processing polymer melts for film, sheet, fiber, compounding and recycling. The models RSFgenius, SFXmagnus, SFneos and CSFprimus are now available in what the company calls a size 110, which refers to a dimension on the filter disk. The size 110
Read More...[Editor’s note: This report is an excerpt from the Stratas Advisors weekly Short-Term Outlook service analysis, which covers a period of eight quarters and provides monthly forecasts for crude oil, natural gas, NGL, refined products, base petrochemicals and biofuels.] The price of Brent crude ended the week at $63.05 after closing the previous week at $64.86. The
Read More...Equinor’s Peregrino oil field offshore Brazil is on track to restart in the first half of 2021 following several delays, a spokesman said on April 12. The heavy oil field in the Campos basin was shut in April 2020 due to a rupture of a riser at the Peregrino A platform during a test. Since the
Read More...[Editor’s note: A version of this story appears in the April 2021 issue of Midstream Business magazine.] In mid-December, Houston-based Pinnacle Midstream II announced plans to build a new gas gathering and compression system in the Midland Basin, the “Dos Picos” gathering system. The gas gathering system will initially serve Midland, Martin and Glasscock counties in Texas with
Read More...Norway’s Equinor ASA has decided to stay in the American Petroleum Institute (API) after the major U.S. oil lobby group changed its stance on climate policy. However, Equinor has quit the Australian Petroleum Production and Exploration Association (APPEA) as the firm has wound down operations in Australia after giving up an exploration drilling plan in
Read More...Gordon TombSenior Advisor, CO2 Coalition .. …. Some Norwegian advocates of global warming theories have gone completely gal (Norsk for “crazy”) over some very “Inconvenient Facts.” Other than by misspelling “fjord,” how would an American geologist draw the ire of a pair of Norwegian politicians? Answer: Write a book that counters the notion that human activity
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