Energy transition

BP plc is forecasting continued high prices and volatility in the natural gas market through year-end, following an “exceptional” third quarter for its gas marketing and trading business, management said Tuesday (Nov. 1). Breaking down the supermajor’s quarterly results on a conference call, CFO Murray Auchincloss said that reduced Russian pipeline imports to Europe “led…

Domestic crude production ticked lower last week along with demand, the U.S. Energy Information Administration (EIA) said Wednesday. The latest government snapshot followed President Biden’s assertion this week that energy majors are keeping a lid on output in order to maintain high oil and natural gas prices to bolster profits. Biden on Monday floated a…

As Sempra Infrastructure continues to progress its LNG export terminal projects on the Gulf Coast and in Mexico, President Dan Brouillette said demand for natural gas is also helping influence the investments in alternative fuels.  The subsidiary of San Diego-based Sempra and Avangrid Inc. disclosed a potential partnership on Wednesday to explore multiple projects to…

Every bottle of Jim Beam Kentucky Straight Bourbon could be a little greener in the near future thanks to Beam Suntory Inc.’s inclusion of a renewable natural gas (RNG) project as a part of an expansion at its iconic Kentucky distillery. The Chicago-based producer of spirit brands like Jim Beam and Maker’s Mark has announced…

The world’s largest oilfield services company and the world’s largest oil company are partnering to develop a digital platform to help decarbonize hard-to-abate industrial sectors. Schlumberger Ltd. and Saudi Arabian Oil Co. (Aramco) said this week that, “The proposed platform will enable companies in industries such as oil and gas, chemicals, utilities, cement and steel…

Replacing natural gas with hydrogen could cause “rate shock” for consumers in the absence of new incentives or subsidies to offset the costs of blending it into the gas system, according to the Alberta Utilities Commission (AUC). “The Alberta government may want to consider supports for customers such as credits, tax rebates or subsidies,” an…

Airlines see the idea of reducing greenhouse gas (GHG) emissions through alternative fuels as a positive, but an eight-fold increase in fuel cost may stand in the way of landing on net-zero targets on time.  Last year, the Biden administration targeted commercial aviation for reducing emissions, and  set a domestic production goal of 3 billion…

Private equity giant EIG is gaining a bigger foothold in the world’s natural gas and oil projects after clinching an estimated $4.8 billion agreement to acquire a 25% stake in Repsol SA’s new upstream company. Repsol Upstream, 70% weighted to natural gas, has been formed as the supermajor’s exploration and production (E&P) company. It would…

Already leading the United States in most electric vehicles (EV) registered, California had more than 1,900 medium- and heavy-duty zero emissions vehicles (ZEV) on the state’s roads as of July, according to regulators.  In the fall of 2020, Gov. Gavin Newsom signed an executive order (EO) requiring all new vehicle sales be ZEVs by 2035,…