Antero Resources has reported a GAAP net loss of $463 million or $1.73 per share in the second quarter 2020, Kallanish Energy reports. That compares to a net income of $42 million or 14 cents per share in 2Q 2019. The company has not curtailed any prediction due to the coronavirus pandemic and resulting low
Read More...The Netherlands awarded the tender for the subsidy-free offshore wind farm Hollandse Kust (noord) to CrossWind – a joint venture between Shell and Eneco, Kallanish Energy reports. The ministry of economic affairs and climate policy said the companies won the bid thanks to their proposal to apply five innovative technologies to the country’s third offshore
Read More...A federal judge has ordered that the Dakota Access oil pipeline be temporarily shut down by Aug. 5 for an in-depth environmental review of the project, Kallansh Energy reports. That order came from U.S. District Judge James Boasberg in what was a major setback for the Trump administration and the controversial pipeline and a major
Read More...Canada’s Supreme Court has dismissed an appeal from British Columbia First Nation groups against expanding the Trans Mountain oil pipeline, Kallanish Energy reports. The court in Ottawa, Ontario, has dismissed appeals from four First Nation groups, effectively ending the year-long legal battle over the project. The court gave no reason for its decision. Work has
Read More...China’s oil and gas company CNOOC announced on Monday a “significant” oil and gas condensate discovery off the South China Sea, Kallanish Energy reports. The discovery of Huizhou 26-6 in the eastern South China Sea is set to become the first mid-to-large sized field in the shallow waters of Pearl River Mouth Basin. The well-encountered
Read More...Belgium shipping company Exmar is considering the best way to defend its interests in a dispute with Argentina’s YPF, Kallanish Energy reports. The company said last week it received notification of force majeure from YPF under the Charter Agreement and Services Agreement they hold for the Tango FLNG barge. Exmar said the move is “unlawful,” and
Read More...Russian gas giant Gazprom is negotiating an additional 6 billion cubic meters per year (Bcm/y) of gas supply to China, Kallanish Energy reports. The company is in talks with its partners to increase gas deliveries via the Power of Siberia, CEO Alexey Miller said in an interview published on Gazprom’s website last Friday. If an
Read More...British giants BP and Ineos announced on Monday a $5 billion global petrochemical deal, covering 14 manufacturing plants across Europe, Asia, and the U.S., Kallanish Energy reports. BP’s departing chief financial officer Brian Gilvary stroke the sale of BP’s petrochemical unit to Ineos – an achievement that concludes BP’s $15 billion divestment target a year
Read More...UK’s oilfield services company, TechnipFMC, has bagged two new contracts from Norway energy major Equinor, Kallanish Energy reports. The deals are worth up to $189.7 billion and comprise pipelaying and subsea installation for projects in the Norwegian Continental Shelf, Equinor said on Tuesday. It covers the Breidablikk project and a gas import system for the
Read More...BP said on Tuesday it has invested in a geospatial analytics software company, as part of its plan to monitor and reduce methane emissions, Kallanish Energy reports. Through subsidiary BP Ventures, the company injected $5 million in the cloud-based Geospatial Analytics. The investment will enable Geospatial to develop its technology further and scale its application
Read More...Total-led liquefied natural gas project, Mozambique LNG, has reportedly been offered a five-year, $2.25 billion funding guarantee from the Mozambican government. Partners at the $20 billion onshore project are said to have agreed to the guarantee in lieu of an immediate equity contribution from state-run National Hydrocarbon Company (ENH). The company owns a 15% stake
Read More...U.S. liquefied natural gas (LNG) exporters could see the cancellation of an estimated 40-45 cargos for August loading, similar to levels reported for July loadings, Kallanish Energy reports. Citing unnamed sources, Reuters reported earlier this week Cheniere is likely to see 30 cargos canceled, while up to 10 shipments could be canceled from the Freeport
Read More...Italy’s energy infrastructure operator, Snam, has partnered with five international funds to invest in a 49% stake in Adnoc Gas Pipelines, in a deal valuing the Abu Dhabi company in $20.7 billion. The transaction, announced by Adnoc and the other companies on Tuesday, is expected to close in July. Once complete, the newly created subsidiary
Read More...Chevron and Shell’s upstream portfolios are the most resilient at oil price at $30 a barrel and offer the highest cash margins at $70/Bbl, according to analysts at Wood Mackenzie. Tom Ellacott and the Corporate Analysis team at the consulting firm have studied the resilience of the seven oil and gas majors: BP, Shell, Chevron,
Read More...Pennsylvania Attorney General Josh Shapiro on Monday announced that a state grand jury has charged Cabot Oil & Gas in connection with 15 environmental crimes in northeast Pennsylvania, Kallanish Energy reports. The company was charged with seven counts of prohibition against discharge of industrial wastes, seven counts of prohibition against other pollutions, and one count
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