Energy Transition

Permian Basin natural gas processor Lucid Energy Group has been given the green light to advance a carbon sequestration project at its Red Hills Complex in Lea County, NM. Lucid, sponsored by entities of Riverstone Holdings LLC and Goldman Sachs Asset Management, said the Environmental Protection Agency approved its monitoring, reporting and verification (MRV) plan…

Nations may be working to transition to net-zero carbon, but recent events prove that it will be decades before oil and gas are replaced by alternative energies, according to IHS Markit Vice Chairman Daniel Yergin.

The New York State Teachers’ Retirement System (NYSTRS) plans to end its investments in 20 natural gas, oil and thermal coal reserve holdings with a market value of $1 billion as they “pose climate-related risks” to the investment portfolio. The massive retirement fund in late December also said it wants to divest $66 million worth…

Montana Renewables LLC (MRL) has closed $50 million of project financing to build a renewable hydrogen plant to increase renewable diesel output from its Great Falls, MT, refinery.  MRL’s parent company is Calumet Specialty Products Partners LP. “Once complete, the renewable hydrogen plant will allow increased production of renewable diesel and further reduce the carbon…

New York Gov. Kathy Hochul on Wednesday announced plans to end fossil fuel hookups, including for natural gas, in new buildings statewide within five years and accelerate deployment of clean energy. In her first state of the state address as governor, Hochul said she would propose legislation to end on-site greenhouse gas (GHG) emissions in…

U.S. land-based NexTier Oilfield Solutions Inc. said pressure pumping work picked up in the final three months of 2021, with more fleets deployed than in the third quarter.  The gains came despite the surge of Covid-related infections during December caused by the Omicron variant, management noted.  The Houston-based oilfield services firm said it averaged 30…

Calgary-based TransAlta Corp., a mainstay of investor-owned power generation, on Wednesday ended 65 years of burning coal in its Canadian thermal plants by completing a fuel switch to natural gas for its Alberta network. The company announced its 463 MW Keephills Unit 3, west of Edmonton near Wabamun, finished the historic change. The firm is…

Eastern Generation LLC, which accounts for nearly 18% of New York City’s power generation capacity, is withdrawing its application to regulators to repower the Gowanus Generating Station with gas turbines. Instead, the company plans to install 350 MW of energy storage solutions. “Eastern Generation is well positioned to assist in the transition to a carbon…

BP plc is expanding its biomethane opportunities in the UK after taking a 28.6% stake in Gasrec, which builds and operates renewable gas-fueled liquefied natural gas (LNG) and compressed natural gas (CNG) stations for road transport. The integrated major agreed to supply Gasrec with renewable biomethane produced mainly from organic wastes, such as food and…