Mozambique LNG secures $2.25B from host government

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

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Pa. charges Cabot with 15 environmental violations

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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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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Denmark should ditch O&G exploration: report

Denmark’s energy ministry has been advised to cancel the country’s 8th oil and gas licensing round, in order to maintain its position as a climate-leading country, Kallanish Energy reports. Independent adviser to the government, the Danish Council on Climate Change, said on Thursday that the bidding round that took place in 2018 and received interest

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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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Largest New Jersey solar facility is operational

New Jersey’s largest solar facility is now in operation. The 28.5-megawatt facility in located on Naval Weapons Station Earle in Tinton Falls, New Jersey, Kallanish Energy reports. The facility on 170 acres was designed and built by CS Energy LLC. with headquarters in Edison, New Jersey. It is owned by Vitol Green Holdings, Ben Moreell

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Appeals court blocks Keystone XL construction

A federal appeals court has refused to lift the ruling of a Montana federal judge that blocks construction on the Keystone XL oil pipeline. That ruling could add a new delay for the $8 billion pipeline project from western Canada to the U.S. Midwest, Kallanish Energy reports. TC Energy, the Canadian company behind the pipeline,

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US crude inventories jump in new EIA survey

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) for the week ended Feb. 7, increased by 7.46 million barrels (Mmbbl) from the previous week, the Energy Information Administration reported Wednesday. At 442.47 Mmbbl, U.S. crude oil inventories are roughly 2% below the five-year average for early February, Kallanish Energy reports. U.S.

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US places near-record volumes of natgas in storage

The amount of stored working natural gas at Oct. 31, was 37 billion cubic feet higher than the previous five-year end-of-October average, according to Energy Information Administration data. Natural gas in storage in 2019 went from a relatively low volume of 1.16 trillion cubic feet at April 1, to 3.72 Tcf at Oct. 31, due

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Volume of working gas placed in storage shrinks

The volume of working gas injected into underground storage slowed to the smallest amount in seven months in the latest weekly survey by the Energy Information Administration, Kallanish Energy calculates. For the week ended Nov. 1, just 34 billion cubic feet of working gas was placed into storage — the smallest amount since 25 Bcf

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Aramco will offer less than 1% of shares to individuals

Saudi Aramco will sell up to 0.5% of its shares to individual investors in what could be the largest initial public offering in history, Kallanish Energy reports. The process begins Nov. 17, and closes on Dec. 4, the company said in its IPO prospectus, released last Saturday. The 658-page document comes almost four years after

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ICD admits receiving NYSE non-compliance letter

Onshore drilling service provider Independence Contract Drilling (ICD) said Tuesday it received written notification from the New York Stock Exchange that as of Nov. 1, the company is no longer in compliance with NYSE continued-listing criteria, Kallanish Energy reports. Said criteria requires listed companies to maintain an average closing share price of at least $1.00 over 30 consecutive

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