Fossil Fuels Decisions Shouldn’t Be A Game of Risk with No Safety Net

fossil fuels Ronald SteinAmbassador for Energy & Infrastructure, Irvine, California .. .… … [Editor’s Note: Those who wish to abolish fossil fuels need to start addressing the risks before plunging ahead because the danger to civilization without a safety net is huge.] We are being told of the world’s forthcoming demise with continued use of

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Hydraulic Fracturing Equals Energy Security: A Ban Would Be Insane

Tom ShepstoneShepstone Management Company, Inc. … … The Department of Energy just issued a comprehensive report about the dangers of banning hydraulic fracturing in this country. The Executive Summary follows: Abundant American oil and natural gas reserves are a strategic asset in driving sustained, long-term economic growth, achieving environmental goals, and enhancing the national security

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WVU Co-Authors Study Using CO2 to Extract More Oil/Gas from Shale

The story of the Marcellus/Utica is a story of natural gas. At least, mostly. We focus almost exclusively on natgas production here on MDN. But there is another story in the M-U, and that’s shale oil. More oil is produced in the Ohio Utica than in the Pennsylvania and West Virginia Marcellus, but all three

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US oil production sees a boost in September

Although production is still diminished in comparison to 2019, crude oil production is on the rise, according to the Energy Information Administration’s monthly report released on Nov. 30. September’s oil production reached 10.860 million barrels per day on average — an increase of 286,000 barrels per day when compared to the previous month. However, September production

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China Does Renewables Head Fake: Builds Energy Reserves with WuFlu

 ... … … [Editor’s Note: China let its virus loose upon the world and is now using it to build energy reserves, while pretending to be a renewables leader.] China is considered a developing country for purposes of the Paris Accord and certain trade treatments, despite it being the second largest economy in the world.

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Antero Resources reports 3Q net loss of $536M

Antero Resources reported a net loss of $536 million or $1.99 per diluted share in the third quarter 202, Kallanish Energy reports. That compares to a net loss of $879 million or $2.86 per share in the 3Q 2019. The loss was driven by a $749 million unrealized commodity hedge fair value loss as a

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ConocoPhillips reports 3Q net loss of $450M

ConocoPhillips has reported a third quarter 2020 net loss of $450 million or 42 cents per share, Kallanish Energy reports. That compares to 3Q 2019 net earnings of $3.1 billion or $2.74 per share. Third quarter 2020 adjusted earnings were a loss of $300 million or 31 cents a share, compared with 3Q 2019 adjusted

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Six contractors hired to build Keystone XL in US

TC Energy on Thursday awarded more than $1.6 billion in contracts to six major American contractors to build more than 800 miles of the now-stalled Keystone XL Pipeline in three states in 2021, Kallanish Energy reports. The six companies will be responsible for hiring more than 7,000 union workers. The companies are Barnard Pipeline of

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Energy transition poses credit risks to NOCs: Moody’s

National oil companies (NOC) are less prepared for the energy transition than their counterparts in the private sector, which increases their credit risks, Moody’s said Monday. According to a new report by Moody’s Investors Services, the energy transition poses varying degrees of credit risk to the world’s largest NOCs. Those in oil importing countries, where

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Strike forces Equinor to shut four O&G fields

Equinor said on Monday it has shutdown four oil and gas fields in the Norwegian Continental Shelf due to an ongoing strike by workers from the Lederne trade union. The “controlled closure” of the fields Gudrun, Gina Krog, Kvitebjørn and Valemon comes after 54 members of the trade union stage an offshore walkout. Production at

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Chevron closes merger deal with Noble Energy

Chevron Corp. on Monday announced the closing of its acquisition of Noble Energy, Kallanish Energy reports. The closure came after Noble Energy shareholders had approved the $13 billion deal in a Friday vote. “We are pleased to welcome Noble Energy employees and shareholders to Chevron. Noble’s high-quality assets complement Chevron’s advantaged upstream portfolio and the

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Devon, BKV close on Barnett asset sale

Devon Energy has completed on its $830 million sale of its Barnett Shale assets in North Texas to a subsidiary of Banpu Kalnin Ventures, Kallanish Energy reports. The deal marks Devon Energy’s exit from the Barnett Shale. The deal was signed with BKV Barnett LLC. The transaction had been announced last December and was revised last

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Suncor Energy to layoff up to 15% of workforce

Suncor Energy has announced plans to cut its workforce by up to 15% over the next 18 months, after crude oil demand has been reduced by the coronavirus pandemic, Kallanish Energy reports. The company, with headquarters in Calgary, Alberta, said 5% of the workers will be cut in six months and another 10% to 15%

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Shipping industry must not wait for ideal fuel solution: DNV-GL

The shipping industry’s “grand challenge” of decarbonization will have to rely on a mix of fuels, rather than wait for the ideal solution to arrive, according to DNV-GL. The consultancy said in its Maritime Forecast to 2050 report that currently there are at least 16 different fuel types and 10 fuel technology systems in the

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