Argentine oil company YPF SA said it’s now loading the first shipment of liquefied natural gas for export from the South American country, Kallanish Energy reports. The shipment includes 30,000 cubic meters (1.06 million cubic feet, or Mmcf) of LNG from the Vaca Muerta Shale play, YPF said, in a statement. “This is the first
Read More...Billionaire activist investor Carl Icahn last week filed a lawsuit against Occidental Petroleum, looking for board seats and eventually a sale of the company, Kallanish Energy learns. Icahn said in the lawsuit filed in Delaware Chancery Court he’s built a $1.6 billion stake in Houston-based Occidental, and is upset by its decision to acquire Anadarko
Read More...California regulators Thursday approved PG&E Corp.’s plan to impose blackouts this summer across large swaths of its territory to prevent major wildfires — and told customers don’t count on reliable electric service as the fire season gets underway. The California Public Utilities Commission approved PG&E’s “wildfire mitigation plan,” in which blackouts could conceivably hit every
Read More...In April 2019, Venezuela’s crude oil production averaged 830,000 barrels per day, down from 1.2 million barrels per day (Mmbpd) at the beginning of the year, according to the Energy Information Administration. Last month’s average is the lowest level since January 2003, when a nationwide strike and civil unrest largely brought the operations of Venezuela’s
Read More...California authorities said Wednesday power lines owned and operated by Pacific Gas & Electric Corp. (PG&E) caused the state’s most destructive wildfire ever – which killed 85 and nearly destroyed an entire city, Kallanish Energy learns. Lines owned by the San Francisco-based utility sparked the Camp Fire on Nov. 8, in Butte County, California, the state Department of Forestry and Fire
Read More...The number of rigs working onshore in the Lower 48 U.S. states last week fell by two, and brought to five the number of consecutive weeks the count has slipped, data from Baker Hughes, a GE company, reveals. At May 10, 955 rigs were working in the Lower 48, down two rigs from the previous week, and off 59
Read More...The owner of the plant where North America’s worst nuclear power-related accident took place four decades ago, confirmed the facility’s lone remaining operating unit will shut down this September, Kallanish Energy reports. Exelon Generation said Three Mile Island (Tmi) Generating Station Unit 1, located near Middletown, Pennsylvania, on an island south of the state capital city
Read More...The U.S. government sued nearly two dozen of West Virginia Gov. Jim Justice’s coal companies Tuesday to get them to pay roughly $4.8 million in unpaid mine safety fines. The civil lawsuit was filed by federal prosecutors in Virginia on behalf of the U.S. Department of Labor and the Mine Safety and Health Administration, The Associated
Read More...Iraq is planning a $53 billion megaproject with global energy giants ExxonMobil and PetroChina to use seawater from the Persian Gulf to boost oil production, Iraqi prime minister Adel Abdul-Mahdi announced Tuesday, Kallanish Energy finds. The project would boost output from Iraq’s southern oilfields, and includes plans to capture natural gas, which is currently being
Read More...Crude oil prices dropped Tuesday as renewed doubts of a U.S.-China trade pact stoked concerns over global growth, while U.S. sanctions on Iran and Venezuela tightened supply and helped to curtail losses, Kallanish Energy reports. President Trump Sunday said he would raise tariffs on $200 billion worth of Chinese goods from 10-25% by Friday. The comments
Read More...Murphy Oil Corp. announced its Murphy Exploration & Production Company – USA unit is acquiring deepwater Gulf of Mexico assets from LLOG Exploration Offshore and LLOG Bluewater Holdings for $1.38 billion in cash, Kallanish Energy reports. Additional contingent consideration payments are based on the following: up to $200 million in the event revenue from certain
Read More...Goldman Sachs expects the U.S.’s decision to end exemptions from sanctions for eight countries still buying oil from Iran to have a limited impact on crude prices — even though the timing is likely to have caught energy market participants by surprise. “While we acknowledge the near-term upside price risks, we reiterate our fundamentally derived
Read More...Venezuelan President Nicolas Maduro is moving cash from Venezuelan oil sales through Russian state energy giant Rosneft, as he looks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters. The sales are the latest sign of Venezuela’s growing dependence on Russia, as the U.S. tightens sanctions on Maduro,
Read More...Liquefied natural gas exporter Tellurian said Thursday the Federal Energy Regulatory Commission has issued the order granting authorization for Driftwood LNG, a proposed 27.6 million tonnes per annum (Mtpa) liquefaction export facility near Lake Charles, Louisiana. Also authorized was the associated Driftwood pipeline, a 96-mile proposed line delivering natural gas to the facility, Kallanish Energy
Read More...Crude oil markets are tightening, the International Energy Agency said Thursday, Kallanish Energy reports. The agency warned, however, an “extraordinarily” wide range of views about the health of the global economy was making it difficult to forecast oil prices. It comes at a time when the energy industry is concerned surging U.S. crude inventories and an economic
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