The Carlyle Group, an international private equity/investment firm and the entity behind efforts to build a $1 billion crude oil export terminal at Harbor Island, Port of Corpus Christi, Texas, is pulling out of the project. The Washington, D.C.-based company said in a statement it’s dissolved its relationship with The Berry Group, Kallanish Energy finds. The
Read More...The effort to overturn nuclear bailout legislation in Ohio is now in the hands of a federal judge, Kallanish Energy reports. Ohioans Against Corporate Bailouts, the group that had been circulating petitions against House Bill 6 that would aid two nuclear power plants in Ohio owned by FirstEnergy Solutions, filed a lawsuit seeking more time
Read More...President Trump last Friday announced he has nominated deputy energy secretary Dan Brouillette to replace departing energy chief Rick Perry, Kallanish Energy reports. “I am pleased to nominate Deputy Secretary Dan Brouillette to be the new Secretary of Energy. Dan’s experience in the sector is unparalleled. A total professional, I have no doubt that Dan
Read More...Crude oil prices were lower Friday, as concerns about China’s economy outweighed strong signals from its refining sector, Kallanish Energy learns. But losses were limited on hopes for progress toward a U.S.-China trade agreement. Brent crude oil futures fell 49 cents, to settle at $59.42 a barrel, while U.S. West Texas Intermediate crude futures lost
Read More...The share of U.S. total utility-scale power generation from natural gas-fired power plants will rise from 34% in 2018, to 37% in 2019 and 2020, the Energy Information Administration forecasts in its October Short-Term Energy Outlook (STEO). EIA/STEO forecasts the share of U.S. electric generation from coal will average 25% in 2019, and 22% in 2020, down from
Read More...The Henry Hub natural gas spot price averaged $2.56 per million British thermal units (MMBtu) in September, up 34 cents/MMBtu from August, the first monthly price increase since March, the Energy Information Administration reports in the just-released Short-Term Energy Outlook (STEO). EIA/STEO forecasts Henry Hub prices to average $2.43/MMBtu in the fourth quarter of 2019,
Read More...Brent crude oil spot prices will average $59 per barrel in the fourth quarter of 2019, then fall to $57/Bbl by the second quarter of 2020, $5/Bbl lower than forecast one month ago, the Energy Information Administration reported Tuesday in its October Short-Term Energy Outlook (STEO). Despite the recent increase in supply disruptions, EIA expects
Read More...U.S. coal giant Murray Energy Corp., led by the outspoken industry promoter Robert Murray, is nearing default, Kallanish Energy reports. Murray, which bills itself as the U.S.’s largest privately-held coal company, failed to make multiple payments to lenders last week, the Ohio-based company said, in a statement. Creditors have agreed not to take legal action until
Read More...Pennsylvania Gov. Tom Wolf’s administration is working to bring the state into a regional consortium of states that sets a price and caps on greenhouse gas emissions from power plants, part of the Democrat’s agenda to fight climate change, Kallanish Energy reports. Wolf made a formal announcement Thursday that he’s ordering a start to the
Read More...U.S. exports of crude oil rose to average 2.9 million barrels per day (Mmbpd) in the first half of 2019, an increase of 966,000 b/d from the first half of 2018, the Energy Information Administration reports. U.S. crude oil exports also set a record-high monthly average in June, at 3.2 Mmbpd, Kallanish Energy learns. Despite
Read More...Royalties paid to Pennsylvania landowners for natural gas extraction in primarily eight counties totaled $8.84 billion from 2010 through 2018, according to calculations by the state Independent Fiscal Office (IFO), Kallanish Energy reports. Royalty payments made in the remaining Pennsylvania counties where natural gas is produced would add another $982 million in royalty payments to
Read More...CEA, EDF and Westinghouse Electric Co. have signed a framework agreement to explore potential cooperation on small modular reactor (SMR) development, Kallanish Energy reports. Worldwide demand for low carbon- electricity generation in the 300- to 400-megawatt range is an important market segment the companies believe their experience in nuclear fuel, reactor design and operation can
Read More...The U.S.’s 10th most populous U.S. city Tuesday moved to ban natural gas in most new residential buildings, beginning next year, Kallanish Energy reports. The 10-member San Jose, California, city council and Mayor Sam Liccardo voted unanimously to make San Jose the largest U.S. city so far to seek to reduce greenhouse gas emissions by
Read More...U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 6.91 million barrels (Mmbbl) during the week ended Sept. 6, from the previous week, the Energy Information Administration reported. The American Petroleum Institute had U.S. crude inventories down 7.2 Mmbbl in the week ended Sept. 6, to 421.9 Mmbbl, compared with analysts’
Read More...Iraq will immediately comply with Opec production cuts after months of overproduction, its oil minister told CNBC Tuesday. The second-largest crude producer in the 14-member cartel is known to chronically overproduce even as the group tries to curb output to help prop up prices, Kallanish energy reports. In August, Baghdad reported its highest oil production on
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