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
The average total generating costs for U.S. nuclear reactors in 2017 were 19% lower than in 2012, the highest-cost year in the last eight, a study released last week by the Nuclear Energy Institute (NEI) reveals. The report, “Nuclear Costs in Context,” found in 2017, the average total generating cost, which includes … Read more
The U.S. Department of Energy intends to fund competitive research and development efforts in fiscal year 2019 to develop the coal-fired power plants of the future. The effort is known as Coal FIRST (Flexible, Innovative, Resilient, Small, Transformative), Kallanish Energy reports. The R&D will underpin coal-fired power plants capable of flexible operations to meet the … Read more
Oil prices fell Tuesday, briefly entering bear market territory, after the U.S. said it will allow some of Iran’s biggest customers to continue importing the Opec member’s crude without violating reinstated U.S. sanctions. You have reached your allocation of free articles this week. Don’t despair you can keep reading the news. Subscribe or start your free … Read more
Colombia’s state-run oil company, Ecopetrol, has applied for a permit to launch the country’s first hydraulic fracturing project, targeting unconventional resources in Magdalena Medio, central Colombia. According to CEO Felipe Bayon, the company filed a permit request with the country’s environmental agency and upon approval, the project could start in 2019. He didn’t say, however, when … Read more
U.S. oil supermajor Chevron has held talks to acquire Pasadena Refining System Inc., (PRSI), a Texas oil refinery owned by Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras), three people familiar with the situation told Reuters. You have reached your allocation of free articles this week. Don’t despair you can keep reading the news. Subscribe or start … Read more
Saudi Arabia is willing to put some $5 billion into the $25 billion Russian liquefied natural gas (LNG) project Arctic LNG 2, Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev said Tuesday. “The Saudi energy minister has announced the possibility of investing around $5 billion in the Arctic LNG 2 project,” Dmitriev told … Read more
As Poland announced the first U.S. liquefied natural gas (LNG) import deal in Central Europe, state oil and gas company PGNiG says importing North American gas is 25% cheaper than buying Russian gas. Speaking at a press conference on Wednesday, PGNiG CEO Piotr Woźniak said Poland pays roughly a quarter less for U.S. gas than for Russian product, … Read more
Dominion Energy on Tuesday filed an application with the U.S. Nuclear Regulatory Commission to renew the operating licenses for its Surry Power Station, Kallanish Energy reports. The Virginia-based company wants to renew the licenses for the two-reactor nuclear power plant (NPP) acility for another 20 years, The current permits allow Dominion Energy to operate Surry’s … Read more
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