Energy Transition

Oil and natural gas investments in decarbonization so far have largely focused on curbing individual Scope 1 and 2 emissions, according to a new analysis by Deloitte. Operators “are increasingly exploring clean energy avenues,” said authors Amy Chronis, Kate Hardin and Anshu Mittal in Deloitte’s 2024 Oil & Gas Industry Outlook. “However, their direct spending…

The U.S. Energy Information Administration (EIA) is slashing its winter Henry Hub spot price forecast on a combination of elevated production and weak space heating demand for natural gas so far this season. EIA said in its latest Short-Term Energy Outlook (STEO) it now expects the national benchmark to average $2.80/MMBtu this winter, down 60…

A landmark agreement clinched by nearly 200 government ministers is calling for the world to begin slowing down the use of fossil fuels, but they left the door open for “transitional fuels,” such as natural gas, to continue to play a big role in the decades ahead. The 28th Conference of Parties (COP28) to the…

The U.S. Energy Information Administration (EIA) is slashing its winter Henry Hub spot price forecast on a combination of elevated production and weak space heating demand for natural gas so far this season. EIA said in its latest Short-Term Energy Outlook (STEO) Tuesday it now expects the national benchmark to average $2.80/MMBtu this winter, down…

Suzanne Ogle, CEO of the Southern Gas Association, says talk of natural gas going away is not realistic or responsible.  Quite the opposite, it’s “really the critical remaining dispatchable fuel source” available, one that offers the quickest way to reducing global emissions, she said in an interview with NGI.  “If your goal is to eliminate…

Projects to reduce carbon emissions got no respect from the oil and gas industry for years, but that’s in the past, as investments in biofuels and carbon capture are becoming a revenue stream, ExxonMobil CEO Darren Woods said Wednesday. Woods and CFO Kathy Mikells spent an hour discussing the integrated major’s strategy in the near…

Canada has unveiled draft regulations to curb methane pollution from the oil and natural gas sector, coinciding with the finalization of similar rules by the U.S. Environmental Protection Agency.  The proposed federal regulations, presented during the Global Methane Pledge Ministerial at the 28th Conference of the Parties climate summit in Dubai, are designed to help…

The Biden administration’s final revisions to the nation’s methane regulations, launched on Saturday, drew sharp criticism from energy trade groups, even as 50 of the world’s largest natural gas and oil producers pledged more emissions cuts. Long expected, the U.S. Environmental Protection Agency (EPA) final rulemaking revised the Clean Air Act (CAA) methane and volatile…

A nationwide system to monitor and reduce U.S. emissions, initially through a two-year pilot, was given the green light on Wednesday by the Biden-Harris administration.  The goal, said officials, would advance the “U.S. commitments” made in 2015 with nearly 200 countries under the United Nations climate accord, aka Paris Agreement to reduce greenhouse gas (GHG)…