ESG

Fitch Ratings Inc. has again downgraded the credit rating of Mexican state oil company Petróleos Mexicanos (Pemex), citing liquidity and environmental, social and governance (ESG) concerns. Pemex’s Long-Term Foreign and Local Currency Issuer Default Ratings (IDR) already were in junk territory at ‘BB-,’ and now have been lowered to ‘B+,’ the Fitch team said Friday…

From assisting natural gas and electric utility customers in paying higher-than-usual energy bills, to decorating Ronald McDonald Houses for the holiday season, the energy industry has once again stepped up to the plate to spread cheer this holiday season.  Jackson, MI-based Consumers Energy said it would provide $7.25 million to help Michiganders struggling with winter…

Tulsa, OK-based independent Laredo Petroleum Inc. is set to rebrand as Vital Energy Inc. on Jan. 9, management said.  The name change is consistent with the company’s goal “to ensure everyone has access to the reliable, affordable energy resources needed to power their lives,” according to the firm. The rebrand “reflects our mission and collective…

BP plc’s Orlando Alvarez, head of gas and power trading in the Americas, sees natural gas and other energy markets heading further into “unprecedented times” of market volatility and regulatory uncertainty, but those changes don’t all have to be challenges for the industry. During a keynote address at LDC Gas Forums’ Gulf Coast Energy Forum…

A growing number of Lower 48 onshore oil and gas producers are publicly disclosing greenhouse gas (GHG) emissions data, according to new research by Haynes and Boone LLP and EnerCom inc. The trend  may be related to proposed rules by the Securities and Exchange Commission (SEC) that would require publicly traded firms to publish their…

A buffer against higher natural gas prices that has traditionally been available to U.S. electric utilities, gas-to-coal switching, has become less tangible as more coal-fired power plants are retired and supply chain challenges linger, according to analysts. “I do not think utilities have any options, other than to burn dry gas in their” combined cycle…

Texas banned local and state government entities from holding stakes in 10 financial companies and nearly 350 investment funds for allegedly boycotting the oil and natural gas industry. Texas Comptroller Glenn Hegar on Wednesday posted a list of companies and funds that his department determined had shunned oil and gas companies as part of a…

Olympus Energy LLC has become the latest exploration and production (E&P) firm to claim the distinction of producing 100% certified natural gas after an analysis by Project Canary. Pittsburgh independent Olympus operates around 100,000 net acres with more than 10 producing wells in Marcellus, Utica and Upper Devonian plays of southwestern Pennsylvania.  Olympus COO Mike…

The search for lithium, a key ingredient used to build batteries for electric vehicles, is underway by Imperial Oil Ltd. and E3 Lithium, which are piloting an Alberta development in a well first drilled by the Calgary producer in 1947. Imperial, majority owned by ExxonMobil, said Thursday the C$6.35 million ($5 million) investment in Calgary-based…