Energy transition

Phillips 66 wants to exploit the technology base it has to advance a lower carbon business platform, while maintaining a strong balance sheet and returning value to shareholders. The Houston-based energy firm sharply reduced the 2021 capital expenditure (capex) budget to $1.7 billion, down from $3.1 billion last year. About $1.1 billion of sustaining capital…

More than 75% of new liquefied natural gas (LNG) global supply could be at risk because of quickly expanding renewable energy resources, according to an analysis by Wood Mackenzie. In a forecast issued on Wednesday, the consultancy said its scenario for worldwide gas demand is going to come under pressure as power sector investments increase…

Nikos Tsafos, a senior fellow at the Center for Strategic & International Studies’ Energy Security and Climate Change Program, believes the global natural gas market can count on turbulence in the years ahead, with more volatility likely and an increasingly murkier role to play in the energy transition.  NGI: It was a rough summer for…

Natural gas-fired generators contributed more than any other source to the nation’s electricity capacity last year, the U.S. Energy Information Administration’s (EIA) annual survey of electric generators found. Natural gas was used for 39% of electricity generation in 2019. The bulk of the fuel was used in combined-cycle technology, which surpassed coal-fired generators in 2018…

If growth projections are expected to be realized for liquefied natural gas (LNG) in the coming decades, more must be done to ensure its role in displacing coal and aiding the energy transition, according to some experts.  The Asian market is seen as a key to LNG’s future growth and a global goal of reducing…

After scuttling the Atlantic Coast Pipeline and selling off natural gas transmission and storage assets, Dominion Energy Inc. is ready to get the word out about its strategic repositioning. With a narrowed focus on state-regulated utility operations, which are expected to account for 85-90% of Dominion’s operating earnings going forward, the Richmond, VA-based company has…

Royal Dutch Shell plc swung to a massive loss in 2Q2020, torn down by a historic loss in natural gas and oil demand, with CEO Ben van Beurden warning the long-term energy outlook remains uncertain as long as the global pandemic wreaks economic havoc. The Anglo-Dutch supermajor said the 2Q2020 current cost of supplies (CCS),…

Looking for ways to lower emissions and improve energy technologies will continue under a renewed collaboration by ExxonMobil and Princeton University’s Andlinger Center for Energy and the Environment. The new five-year agreement, which builds on ExxonMobil’s participation beginning in 2015 in Princeton’s E-filliates Partnership, aims to help accelerate research, development and deployment of technologies that…

Oil and natural gas exploration will play an essential role in meeting global energy demand through at least 2040, even if human-induced global warming is kept under 2 C, according to a recent analysis by Wood Mackenzie. “Only about half the supply needed to 2040 is guaranteed from fields already onstream,” said Wood Mackenzie’s Andrew…