Energy Transition

Upstart hedge fund Engine No. 1 has captured three board seats at ExxonMobil, in an upset of historic proportions. Shareholders elected nine company nominees but Engine No. 1 has captured three, the Irving, TX-based supermajor announced late Wednesday. The annual meeting held last week had already jolted the investor complex, with Engine No. 1, which…

An industry trade group of Canadian drilling contractors has rebranded to fit into energy transition imagery by purging a fossil fuel reference. Enter the Canadian Association of Energy Contractors (CAOEC). Exit the Canadian Association of Oilwell Drilling Contractors (CAODC), the group’s name since 1949. To explain the switch and declare intentions to march in step,…

California’s coast may be the site of the West Coast’s first installment of offshore wind infrastructure following an announcement by the Biden administration this week. The administration said the Department of Interior (DOI), Bureau of Ocean Energy Management (BOEM) and the Department of Defense (DOD) have agreed to lease 399 square miles off the northern…

The trio of events that appeared to upset the status quo last Wednesday at ExxonMobil, Chevron Corp. and Royal Dutch Shell plc demonstrates increasing risks ahead for oil and natural producers as they transition for the new energy world ahead, according to analysts. Shareholder votes at the annual general meetings for ExxonMobil and Chevron, as…

“For the private and public energy sector, these elections could define the rules of the game for the remainder of the administration,” Layla Vargas, general director at Muvoil Consulting and seasoned expert in the Mexican energy sector, told NGI’s Mexico Gas Price Index. Mexico will hold local, legislative and state elections on June 6.  “Currently, we…

Since early March, nine oil and natural gas producers, utilities and pipeline and storage operators have joined a coalition that pledges to reduce collective methane emissions to 1% or lower. Our Nation’s Energy Future (ONE Future), with members in the upstream, midstream and downstream sectors, now numbers 45. As members, each company would report methane…

Houston-based Nacero Inc. has awarded engineering firm Bechtel Corp. a front-end engineering and design (FEED) contract for a natural gas-to-gasoline manufacturing facility in Penwell, TX. The plant would be the first natural gas-to-gasoline plant in the United States, according to Nacero. The company’s 115,000 b/d plant near Odessa, TX, in the Permian Basin also would…

Privately held Venture Global LNG Inc. has unveiled plans to capture and sequester up to 1 million tons of carbon dioxide (CO2)/year from its sites in Louisiana, making it the latest liquefied natural gas (LNG) developer to turn to carbon capture and sequestration (CCS) as a way to lower its emissions profile. Arlington, VA-based Venture…

Commercial truck electrification specialist Hyliion Holding Corp. is partnering with proppant delivery specialist Detmar Logistics to electrify its fleet. Hyliion recently announced it would work closely with San Antonio-based Detmar over the next five years to convert 127 Volvo trucks and hauls with diesel and compressed natural gas (CNG) hybrid solutions.  Detmar, which transports more…