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ESG

Apache Prioritizing Egypt’s Oil, Natural Gas with Updated Production Contracts

Apache Prioritizing Egypt’s Oil, Natural Gas with Updated Production Contracts

Egypt’s importance to the portfolio of APA Corp. is advancing after the Houston independent and its Chinese partner secured updated production sharing contracts (PSC). The PSCs between exploration unit Apache Corp., 66% owner, and minority joint venture (JV) partner China Petrochemical Corp., aka Sinopec, consolidated 90% of gross production into a single concession and refreshed…

December 28, 2021
Vermilion Gains Certified Label for Some Canadian Natural Gas Supply

Vermilion Gains Certified Label for Some Canadian Natural Gas Supply

Calgary-based Vermilion Energy Inc. has become the third Canadian producer to earn an international eco-label for its natural gas. The independent also announced Wednesday an initial sale of certified gas sporting the ethical energy brand, created by New York City-based Equitable Origin, which is trademarked as EO100 Standard Certification. “As the energy transition progresses, we…

October 15, 2021
Phillips 66, Plug Power Team Up to Develop Low Carbon Hydrogen Businesses

Phillips 66, Plug Power Team Up to Develop Low Carbon Hydrogen Businesses

Houston-based energy manufacturing and logistics firm Phillips 66 and fuel cell manufacturer Plug Power Inc. have signed a memorandum of understanding (MOU) to collaborate on the development of low-carbon hydrogen business opportunities. Phillips 66 already owns hydrogen-related infrastructure and uses hydrogen in the manufacturing of transportation fuels. Plug Power, meanwhile, is developing green hydrogen production…

October 14, 2021
North American Natural Gas Buyers Eyeing Certified Supplies for ESG-Minded Customers

North American Natural Gas Buyers Eyeing Certified Supplies for ESG-Minded Customers

Designating natural gas as certified or “responsibly sourced” may do little to reduce its carbon intensity, but as U.S. and overseas customers question how their fuel is produced, the branding is growing in importance to ensure conformity and transparency, according to industry experts. A conundrum of challenges is facing natural gas buyers today, as many…

September 16, 2021
National Fuel Gas Set to Reduce Methane Intensity, GHG Emissions Across Businesses

National Fuel Gas Set to Reduce Methane Intensity, GHG Emissions Across Businesses

National Fuel Gas Co., whose footprint extends across the country, has set a goal to lower its carbon footprint in 2030 by double-digits across the exploration, midstream and utility segments.  The goals were announced last week in the company’s 2020 Corporate Responsibility report, which provided a review of environmental, social and governance (ESG) metrics. The…

September 13, 2021
Responsibly Sourced Gas Trade Expanding in Canada with Macquarie, Energir Deal

Responsibly Sourced Gas Trade Expanding in Canada with Macquarie, Energir Deal

Macquarie Energy Canada Ltd., using a virtual market, is expanding the ethically produced natural gas trade, aka responsibly sourced gas (RSG), with the sale of British Columbia (BC) production to Montreal-based distribution company Energir. The Macquarie unit used a virtual market created by Xpansiv CBL Holding Group (XCHG), trademarked as the Xpansiv Digital Fuels Registry,…

September 1, 2021
Lower 48 E&Ps Expanding ESG Disclosures Amid Investor Pressure, Survey Finds

Lower 48 E&Ps Expanding ESG Disclosures Amid Investor Pressure, Survey Finds

A growing number of Lower 48 onshore producers are measuring and disclosing their performance on environmental, social and governance (ESG) efforts, according to new research by Haynes and Boone LLP and EnerCom Inc. The August edition of their Oil & Gas ESG Tracker summarized findings from a review of 30 U.S.-listed middle market onshore oil…

August 25, 2021
Energy Capital Ventures’ $45M Fund Designed to Bolster Natural Gas Industry’s ESG Commitments

Energy Capital Ventures’ $45M Fund Designed to Bolster Natural Gas Industry’s ESG Commitments

Five natural gas utilities have committed $45 million to an Energy Capital Venture (ECV) fund to bolster digital advancements along with environmental, social and governance (ESG) strategies within the natural gas industry.  Chicago-based ECV was founded in 2020 to focus on local distribution companies and natural gas utilities with an eye on creating a more…

August 13, 2021
Ovintiv Holding Line on Lower 48 Capex as Raw Materials, Labor Costs Escalate

Ovintiv Holding Line on Lower 48 Capex as Raw Materials, Labor Costs Escalate

Ovintiv Inc., whose portfolio stretches from Western Canada to West Texas, is seeing costs for materials and labor rising, but inflationary pressures and capital guidance are being kept in check with operational efficiencies, executives said Wednesday. CEO Doug Suttles, who is retiring, presided over his final conference call on Wednesday, ushering in a new era…

July 29, 2021
Pemex Posts Rare Quarterly Profit as Oil Prices Swing Upward

Pemex Posts Rare Quarterly Profit as Oil Prices Swing Upward

Mexico’s state oil company Petróleos Mexicanos (Pemex) posted a rare 14 billion-peso ($719 million) profit in the second quarter thanks to higher sales revenue. The oil giant had posted a $2 billion loss in the year-ago quarter.  Oil production rose to 1.736 million b/d in the second quarter compared with 1.673 million b/d in the…

July 28, 2021
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