Energy

EQT Eliminates Natural Gas-Powered Pneumatic Devices, Sharply Cuts Methane Emissions  

EQT Eliminates Natural Gas-Powered Pneumatic Devices, Sharply Cuts Methane Emissions  

Pittsburgh-based EQT Corp. may be the largest U.S. natural gas producer, but a commitment to reducing carbon emissions led management to spend $28 million to replace or retrofit 100% of its gas-powered pneumatic devices. The initiative led to a 70% reduction in methane emissions. The annual carbon footprint also declined, down by 305,614 metric tons…

January 6, 2023
OGCI Members’ Upstream Methane Intensity Down, Investments in Low Carbon Up         

OGCI Members’ Upstream Methane Intensity Down, Investments in Low Carbon Up         

The Oil and Gas Climate Initiative (OGCI), a collaboration by the CEOs of a dozen global energy producers, said it  has reduced members’ absolute upstream methane emissions by 40% since 2017 with spending on low carbon solutions nearly doubling to $40 billion.The collaborative launched an industry-wide initiative to reduce methane emissions to near zero, while…

December 16, 2022

EU Agrees to Tax Carbon-Intensive Imports – The Offtake

The European Union has reached a preliminary agreement on a landmark plan to tax imports of carbon-intensive goods like aluminum, cement, electricity, fertilizers and hydrogen. It does not include commodities like natural gas.

December 13, 2022
Mexico’s CFE Using More Natural Gas Pipeline Capacity as U.S. Imports Grow, Energy Minister Says

Mexico’s CFE Using More Natural Gas Pipeline Capacity as U.S. Imports Grow, Energy Minister Says

Mexico’s state power company Comisión Federal de Electricidad (CFE) has more than doubled the utilization rate of its natural gas pipelines since the current government took over in 2018, according to energy minister Rocío Nahle.  Nahle addressed Mexico’s senate energy committee on Thursday (Dec. 8) about the state of the sector. CFE is Mexico’s largest…

December 12, 2022
Brent Returning to Above $90/bbl Early Next Year, EIA Says

Brent Returning to Above $90/bbl Early Next Year, EIA Says

Brent crude oil prices once again are expected to reach $90/bbl-plus by the second quarter of next year amid falling global inventories, and prices for the benchmark would likely average $92 for full year 2023, according to updated modeling from the Energy Information Administration (EIA). In its latest Short-Term Energy Outlook (STEO), published Tuesday, the…

December 9, 2022
Shale, Offshore Natural Gas Development Could Offset Mexico Dependence on U.S., Says Rystad Exec

Shale, Offshore Natural Gas Development Could Offset Mexico Dependence on U.S., Says Rystad Exec

“For Mexico to diversify away from U.S. natural gas imports in the medium to long term, the answer is potentially shale,” W. Schreiner Parker, senior vice president and head of Latin America at Rystad Energy, said in an interview with NGI’s Mexico GPI.  “The other interesting area of domestic supply is offshore gas,” he said.…

October 28, 2022
Citing Prices, Demand, EIA Expects Household Natural Gas Costs to Rise This Winter

Citing Prices, Demand, EIA Expects Household Natural Gas Costs to Rise This Winter

A result of both higher retail prices and higher forecast consumption, the Energy Information Administration (EIA) expects U.S. households to spend more on energy this winter compared with the 2021-22 heating season, with the largest increase for homes that heat with natural gas. The agency’s latest Winter Fuels Outlook, included in its updated Short-Term Energy…

October 14, 2022
Focus Said Shifting to Energy Affordability Amid Soaring Prices, Double Standards

Focus Said Shifting to Energy Affordability Amid Soaring Prices, Double Standards

Since Russia’s unprovoked invasion of Ukraine, countries around the world are shifting their priorities toward energy affordability, according to a group of experts who spoke in New York City on Wednesday. The last 10 months have brought the issues of energy security, climate change and affordability “into contention,” according to Fahad Alajlan, president of Saudi…

October 12, 2022
BlackRock Purchases RNG Producer for $700M

BlackRock Purchases RNG Producer for $700M

Vanguard Renewables, a renewable natural gas (RNG) producer with projects across New England, said it has been acquired by BlackRock Real Assets.  A source familiar with the deal told NGI that BlackRock purchased the RNG producer from Vision Ridge Partners for $700 million. The investment could help Vanguard Renewables develop its plans to bring more…

July 22, 2022
Domestic Crude Output Holds at 2022 Pinnacle as Demand Increases; OPEC Leader Dies

Domestic Crude Output Holds at 2022 Pinnacle as Demand Increases; OPEC Leader Dies

U.S. oil production last week held at a high point for the year as overall petroleum demand increased, led by consumption of travel fuels, the U.S. Energy Information Administration (EIA) reported Thursday.   Producers pumped 12.1 million b/d for the week ended July 1, according to the EIA’s Weekly Petroleum Status Report. That continued the pace…

July 7, 2022
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