Erika Green U.S.-based, Venezuela-owned refiner Citgo Petroleum is set to undergo a restructuring in its leadership following Juan Guaido’s declaration he is Venezuela’s new interim president. Guiado is expected to make an announcement “soon” on plans to revamp Citgo’s board and ease political pressures on the company, Platts reported last week, citing unnamed sources. … Read more
An explosion Monday of a section of Enbridge’s Texas Eastern natural gas pipeline in Ohio created a fireball of flame and damaged homes, prompting the evacuation of nearby residents. The explosion appeared to have destroyed two homes, Chasity Schmelzenbach, emergency management director for Noble County, Ohio, told Reuters. Enbridge said two people … Read more
The Philippines’ energy ministry has approved the bid from local fuel retailer Phoenix Petroleum and China’s CNOOC to build the country’s first liquefied natural gas (LNG) import terminal. The $2 billion regasification and imports terminal will be built south of the capital of Manila, featuring a capacity to handle 2.2 million tonnes per … Read more
The state-backed Japan Atomic Energy Agency (Jaea) said last week it would have to spend roughly 1.9 trillion yen ($17.1 billion) to close 79 facilities over 70 years. Total costs could increase further, as the agency said the estimated figure, which would be paid by taxpayers, excludes expenses for maintenance and replacing … Read more
Despite Iraq’s ambitions to expand its crude oil and natural gas production, the country’s policies to support upstream development appear stalled, Kallanish Energy learns from data/analytics firm GlobalData. Iraqi oil production is gradually ramping up thanks to expansion of previously delayed projects, but the existing contracts are still unable to reach their full potential, analysts said … Read more
A new analysis by the U.S. Chamber of Commerce’s Global Energy Institute finds the anti-energy “Keep It in the Ground” movement has prevented at least $91.9 billion in domestic economic activity and eliminated nearly 730,000 job opportunities, Kallanish Energy reports. In recent years, KIITG activists have attempted to derail energy projects with … Read more
European oil majors Shell and Eni reportedly knew of the corruption ongoing during their OPL 245 acquisition in Nigeria, a case in which they are being tried in Milan and could also respond to in a London court. Reuters reported Monday Milan judge Giusy Barbara said “the management of oil companies Eni and … Read more
The Pennsylvania Department of Environmental Protection has rolled out a draft plan to curtail air emissions from thousands of existing oil and natural gas wells — a move that could have a major and costly impact on drillers, Kallanish Energy reports. The state is expected to take public comment on the proposal early next year. Part … Read more
Hess Corp. has announced it plans to spend $2.9 billion in its 2019 capital and exploratory budget, with 75% of that money earmarked for high-return growth assets in the Bakken Shale and and Guyana, Kallanish Energy reports. The company on Monday said its net production is predicted to be between 270,000 and 280,000 barrels of … Read more
Colombian crude oil production hit a two-year high in October, averaging some 878,854 barrels per day, the country’s energy ministry said in its latest statistic report. Output was at its highest level since June 2016, after a 1.2% growth from the 868,704 Bpd produced in September, and a 1.7% increase year-over-year, Kallanish Energy learns. The … Read more
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