The Biden administration has given the go-ahead to ConocoPhillips’ massive Willow project planned for Alaska’s North Slope. The Bureau of Land Management (BLM) issued its Record of Decision (ROD) on Monday. The ROD said the approval included three drill sites (BT1, BT2 and BT3) and associated infrastructure. The approval includes up to 199 total wells,…
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Equinor Submits Plans to Continue Hammerfest LNG Exports Beyond 2030
Equinor ASA said it would invest $1.3 billion along with its partners in the Hammerfest LNG terminal to extend the life of the Norwegian plant and cut emissions significantly. The company has submitted its development plan to Norway’s Ministry of Petroleum and Energy to add onshore compression and electrify the terminal. It’s aiming to have…
Natural Gas Futures Drop as Arctic Cold Forecast to Diminish; Cash Prices Climb
Natural gas futures flopped a second consecutive trading day as the weather outlook for later this month and early next pointed to milder conditions and easing demand. The January Nymex gas futures contract settled at $5.851/MMBtu on Monday, down 74.9 cents day/day. February fell 59.3 cents to $5.710. At A Glance: Forecasts for soft start…
Canada Dreams of Arctic LNG Gain U.S. Private Equity for Project Near Beaufort Sea
A 33-month northern hunt has found a U.S.-owned partner for reviving the last remains of formerly grand designs for natural gas development in the Canadian Arctic. Inuvialuit Regional Corp. (IRC), a Mackenzie Delta tribal enterprise, has recruited the Alberta arm of Texas-based private equity firm The Energy & Minerals Group (EMG) for a regional liquefied…
Insurance, Financial Support Dwindling for Oilsands, Coal and Arctic Drilling
Insurance giant The Hartford this month instituted a policy to no longer insure or invest in companies that generate more than one-quarter of their revenues or energy production from oilsands or coal.
House Passes Bills to Block Trump Offshore Drilling Plans, Senate Unlikely to Agree
The U.S. House of Representatives has approved a trio of measures that would block Trump administration efforts to expand areas of oil and natural gas drilling off shores of the United States.
Russia’s Arctic LNG-1 to Survey Kara Sea Field
Russia’s largest independent natural gas producer Novatek said subsidiary Arctic LNG-1 plans to conduct a geological survey, which if it leads to exploration could create more supply to expand liquefied natural gas (LNG) exports.
Novatek’s Arctic LNG 2 Eyeing Asia Pacific for Final Customer
Russia’s largest independent gas producer Novatek said Wednesday its final partner in the massive Arctic LNG 2 project will likely be an Asia-Pacific customer, with a deal possibly completed in days.
Judge Rejects Trump Executive Order on Arctic, Atlantic Offshore Leasing
A federal district court judge in Alaska last Friday ruled an executive order (EO) issued by President Trump in 2017 opening areas of the Arctic and Atlantic oceans to oil and gas leasing was “unlawful and invalid,” and ordered the areas closed to leasing.
BLM Releases Draft EIS for Potential ANWR Oil, Gas Leasing Program
One year to the day after Congress passed a comprehensive tax reform bill that included a controversial provision to open a portion of the Arctic National Wildlife Refuge (ANWR) to oil and gas leasing, the Interior Department’s Bureau of Land Management (BLM) released a draft environmental impact statement (DEIS) for a leasing program.