India’s state-run oil company, Bharat Petroleum Corporation (BPCL), will off-take 1 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) from the Mozambique LNG project, Kallanish Energy learns. BPCL’s financial director Neelakantapillai Vijayagopal told the media after a conference call this week that the company has signed a 15-year supply contract with the African project.
Read More...Hygo Energy Transition, a joint venture between Golar LNG and Stonepeak Infrastructure Partners, is seeking an initial public offering (IPO) of $485 million, Kallnish Energy reports. According to a regulatory filing to the Securities and Exchange Commission (SEC) on Thursday, the company plans to offer 23.1 million common shares valued at $18-21 apiece. The higher
Read More...The U.S. Department of Energy has awarded $24 million to two projects to commercialize sodium-ion battery development and methane detection technologies, Kallanish Energy reports. A $19 million grant went to California-based Natron Energy and a $5 million grant was awarded to Montana-based Bridger Photonics. The grants were awarded as part of DOE’s Advanced Research Projects
Read More...The global energy storage market is projected to grow to $546 billion by the year 2035, according to a new recent report by Florida-based Lux Research. One of the largest markets with an expected 76% compound annual growth rate and an increase in revenues of $8 billion in the next three years is residential storage,
Read More...The use of renewables for electricity generation rose 32% year-on-year during second quarter according to a new report, Kallanish Energy reports. The Drax Electrical Insights Q2 report, published on Monday by UK power generator Drax and compiled from analysis by Imperial Consultants, found that the share of renewables in the UK energy mix increased to
Read More...Chesapeake Energy wants to terminate a $300 million pipeline contract in its Chapter 11 bankruptcy proceedings, Kallanish Energy reports. That request has been opposed by pipeline giant Texas-based Energy Transfer. Now the Federal Energy Regulatory Commission is supporting Energy Transfer and is getting involved in the ongoing legal fight, Reuters reported. FERC has argued in
Read More...U.S. independent E&P firm Apache Corp. reported on Thursday net losses of $397 million in the second quarter of 2020, alongside a new oil discovery on Block 58 offshore Suriname. The net loss attributable to shareholders was driven by significantly lower revenues from oil production during second quarter compared to the previous year, which fell
Read More...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
Read More...CMS Energy has announced that it has purchased a majority stake in a 525-megawatt wind project in West Texas, Kallanish Energy reports. Aviator Wind in Coke County near Abilene will be operated by CMS Enterprises, a subsidiary of Michigan-based CMS Energy. It purchased the majority stake from funds managed by Ares Management Corp.’s Infrastructure and
Read More...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...Global wholesale natural gas prices declined in 2019 to reach an average of $3.88 per million British thermal units (MmBtu) – a level not seen since 2016, according to the International Gas Union (IGU). The decline largely reflects the impact of rising global gas supply, which in turn led to sharp falls in spot prices
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...The potential expansion of gas transportation from the Barents Sea region by Gassco would be best achieved through pipeline expansion on a cost-basis, according to analysis conducted by Rystad Energy. Norwegian gas transport system operator Gassco said in January that expanding transportation capacity from the Barents Sea South “can lay the basis for further value
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