Total posts $8B loss in Q2, maintains dividends

French energy major Total posted on Thursday losses of over $8.37 billion during second-quarter driven by impairments, lower hydrocarbon prices and production levels, Kallanish Energy reports. The net loss compares to a net profit of $2.76 billion during the same period last year, as “exceptional circumstances” led to asset impairments totalling $8.1 billion. The majority

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Antero says production grew by 9% in 2Q

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

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While U.S. Pipelines Face Siege from Extremists, China Moves Ahead

 ... … … [Editor Comment: Pipelines here at home in the U.S. are ever harder to get done as extremist opponents tie them up in courts, but China is moving ahead ever faster.] While pipelines in the United States face increasingly hostile legal challenges, China is seeing the importance of a national oil and natural

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Exmar readies to dispute YPF’s force majeure notice

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

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Sakhalin Energy begins one-month maintenance on LNG plant

Russia’s Sakhalin Energy, the operator of the Sakhalin-2 liquefied natural gas (LNG) project, has commenced a one-month maintenance project at the plant, Kallanish Energy reports. The maintenance activities will be carried out at the Lunskoye-A offshore platform, the onshore processing facility (OPF), booster station No. 2 and the LNG plant. In a statement the company

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Clean energy needs a boost to reverse Covid-19 economic damage: IEA

The Covid-19 pandemic has dealt a massive blow to countries around the world and brought up “worrying implications” for clean energy transitions, the International Energy Agency (IEA) said in a new report. The crisis is chocking economies and significantly impacting the energy sector, the Paris-based agency said. Unprecedented action and leadership from governments, companies, and

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EU discusses clean energy in €750B post-pandemic recovery fund

EU’s commissioner for energy, Kadri Simson, told the bloc’s energy ministers on Monday that there is a strong link between technology, recovery, and climate-neutral ambition. Simson discussed Europe’s €750 ($846.3) billion coronavirus recovery fund and the role of clean energy technologies for the future low carbon economy. She described it as a “sizeable, balanced plan,

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Mozambique’s LNG projects on track despite Covid-19: official

Mozambique’s national petroleum institute INP said on Thursday the country’s natural gas and liquefaction projects remain in line with the schedule agreed between the government and investing companies. INP’s chairman Carlos Zacarias told a press conference a day earlier that despite the suspension of activities in Afungi due to the Covi-19 pandemic, implementation activities for

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Germany to invest $10.2B in hydrogen expansion

Germany announced it will invest €9 billion ($10.2 billion) to boost its hydrogen strategy, aimed at becoming a global supplier of “state-of-the-art” hydrogen technology, Kallanish Energy reports. The coalition government agreed late on Wednesday a €130 billion ($147.3 billion) coronavirus recovery stimulus package. The program is geared to climate change mitigation and promoting the technologies

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Trump administration change aids renewable projects

The Trump administration provided a major boost to developers of renewable energy, in the wake of the coronavirus pandemic, Kallanish Energy reports. The U.S. Treasury Department and the Internal Revenue Service last week issued a Notice 2020-41 to provide tax relief to affected taxpayers involved in solar and wind projects by extending the safe harbor

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US rig count drops an additional 17 rigs: BH

The number of drilling rigs in the United States continued to plummet, Kallanish Energy reports. The total dropped by 17 in the count released last Friday by Baker Hughes, the Texas-based well services company. There were 301 rigs at work in the U.S., down from 318 on May 22. A year ago, there were 984 rigs at work. That

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FID postponed on $6B Ohio ethane cracker

A final investment decision on a proposed $6 billion ethane cracker complex in eastern Ohio has been postponed to 2021 due to the coronavirus pandemic, Kallanish Energy reports. That announcement came from PTT Global Chemical America in a May 20 report in The Nation, an English-language newspaper in Bangkok, Thailand. That report was tracked down

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