Energy Transition

Arizona Economic Growth Aided by Natural Gas, Says Southwest Gas

Arizona Economic Growth Aided by Natural Gas, Says Southwest Gas

Southwest Gas Corp. officials said they are confident that natural gas has a bright future in Arizona, supported by a law passed last year to prevent local governments from imposing bans on natural gas in new construction. Arizona’s House Bill 2686, effective last August, prohibits local building permits from restricting natural gas. Lawmakers in Oklahoma,…

February 4, 2021
Despite Biden’s Support of Renewables, Enterprise Says Fossil Fuels Vital For Long-Term Energy Needs

Despite Biden’s Support of Renewables, Enterprise Says Fossil Fuels Vital For Long-Term Energy Needs

Enterprise Products Partners LP executives said the company emerged from the depths of 2020 relatively unscathed, producing profits and upbeat about both the year ahead and long-term prospects. The executives during a conference call Wednesday to discuss fourth quarter and full-year 2020 results, noted they are optimistic despite the change of power in Washington, DC,…

February 3, 2021
In Wake of Earnings Slump, ExxonMobil Critics Call for Greater Change

In Wake of Earnings Slump, ExxonMobil Critics Call for Greater Change

Agitated by activist investors, ExxonMobil this week promised substantial new investments to combat the effects of climate change and announced the election of a new director as part of what it called a broader board “refreshment.” However, activist investor Engine No. 1 LLC said the changes were insufficient. The San Francisco firm said it stood…

February 3, 2021
U.S. Energy Consumption Could Take Decade or More to Recover from Pandemic, EIA Says

U.S. Energy Consumption Could Take Decade or More to Recover from Pandemic, EIA Says

The craterous impact of the Covid-19 pandemic on energy demand is likely to ripple out into the next decade, with consumption potentially not returning to pre-pandemic levels until 2029 or later, the U.S. Energy Information Administration (EIA) said in its latest long-term projections. The agency’s 2021 Annual Energy Outlook (AEO2021), released on Wednesday, projects changes…

February 3, 2021
Baker Hughes, Novatek Piloting Hydrogen Tech to Cut Emissions from Russian LNG Exports

Baker Hughes, Novatek Piloting Hydrogen Tech to Cut Emissions from Russian LNG Exports

Baker Hughes Co. and Russia’s largest independent PAO Novatek are piloting a project to introduce hydrogen blends into liquefaction processes to reduce carbon emissions for liquefied natural gas (LNG) export projects. Compression and power generation technologies are being studied to reduce carbon dioxide (CO2) emissions from Novatek’s 16 million metric ton/year Yamal LNG project on…

February 1, 2021
New York City to Ban New Gas Hookups by 2030 as de Blasio Calls to ‘Renounce Fossil Fuels Fully’

New York City to Ban New Gas Hookups by 2030 as de Blasio Calls to ‘Renounce Fossil Fuels Fully’

New York City Mayor Bill de Blasio said Thursday the city must “renounce fossil fuels fully,” including banning fossil fuel connections in new construction by 2030 at the latest, decarbonizing the city’s pension fund investments, and transitioning away from cars. By banning fossil fuel hookups, New York will be “literally ensuring that our only choice…

January 31, 2021
Mexico Taking Steps to Undo Energy Reform, Says Former CRE Commissioner

Mexico Taking Steps to Undo Energy Reform, Says Former CRE Commissioner

“The energy reform sought to create a sector that operated as a market with technical criteria and with long-term investor certainty, and that is being dismantled,” Guillermo Zúñiga, former Commissioner at the Energy Regulatory Commission (CRE) from 2013-2019, told NGI’s Mexico Gas Price Index.  Zúñiga, currently an international attorney at the Earthjustice environmental nonprofit based…

January 29, 2021
Chevron CEO Cautious on Biden Climate Actions, but ‘Onerous’ Conditions May Push Investments Overseas

Chevron CEO Cautious on Biden Climate Actions, but ‘Onerous’ Conditions May Push Investments Overseas

Chevron Corp. CEO Mike Wirth on Friday was optimistic that the supermajor could navigate near-term under a potential cap on federal leasing in the United States but he warned that if conditions were to deteriorate, “we have other places to take our dollars.” Wirth helmed a conference call with CFO Pierre Breber on Friday to…

January 29, 2021
March Debuts with Thud; Natural Gas Futures Fall After Storage Withdrawal Fails to Impress

March Debuts with Thud; Natural Gas Futures Fall After Storage Withdrawal Fails to Impress

Natural gas futures faltered Thursday following a bearish storage report and a key weather model pointing to lighter heating demand than previously expected, ending a rally. On its first day as the prompt month, the March Nymex gas futures contract shed 3.8 cents day/day and settled at $2.664. It ended a three-day run of solid…

January 28, 2021
Ovintiv to ‘Carefully Review’ Investor’s Board Nominees

Ovintiv to ‘Carefully Review’ Investor’s Board Nominees

Private investor Kimmeridge Energy Management Co., which owns a 2.5% stake in Ovintiv Inc., has nominated three people to stand for board election as Kimmeridge looks to upend oversight of the Denver-based independent. Earlier this month Kimmeridge warned Ovintiv that the exploration and production (E&P) company needed to improve performance or face a reckoning.  “Given…

January 28, 2021