Texas-based EOG Resources is cutting its 2020 capital spending by $2 billion or 31%, in the wake of the spreading coronavirus and the crude oil price war between Saudi Arabia and Russia that is impacting U.S. shale producers. EOG said it intends to reduce activity across all of its operating areas and … Read more
Enbridge announced Friday that it intends to build a $500 million pipeline tunnel under the Straits of Mackinac after a long and continuing legal fight with the state of Michigan, Kallanish Energy reports. The Canadian pipeline company said it has hired two contractors to proceed with the disputed Line 5 tunnel project. The tunnel will be … Read more
Spanish oil major Repsol said Friday it will build another 860 megawatts (MW) of renewables capacity in northern Spain, through 26 onshore wind farms, Kallanish Energy reports. The so-called Delta 2 project will feature wind turbines across the Huesca, Zaragoza and Teruel provinces, in the Aragon region. The farms will be built … Read more
Guyana’s second crude oil shipment left ExxonMobil’s Liza Destiny platform Wednesday and is heading to Panama, Kallanish Energy reports. The new crude oil cargo lifted by the U.S. supermajor and its partners offshore Guyana is said to have been sold on the open market. According to shipping data from Marine Traffic, the Eagle … Read more
British oil supermajor BP has roughly 10 new projects in the pipeline expected to receive a final investment decision (FID) by 2021, potentially adding 900,000 barrels of oil-equivalent per day (Boe/d) to its portfolio, Kallanish Energy reports. CEO Bob Dudley said Tuesday during an earnings call these undisclosed projects are located from the Gulf of Mexico … Read more
Pipeline operator Kinder Morgan announced last week it’s sold all of its 25 million shares of Canada’s Pembina Pipeline Corp. for $764 million after taxes, Kallanish Energy reports. The money will be used in its 2020 budget to reduce debt, said the Houston-based company. Kinder Morgan acquired the shares when Pembina bought Kinder Morgan Canada last … Read more
Texas-based Energy Transfer, an owner and operator of the Dakota Access Pipeline, wants to increase the pipeline’s capacity by more than 96%, to 1.1 million barrels per day of crude, from the Bakken in North Dakota, through South Dakota and Iowa into Illinois. To increase flow, the company wants to build a series of new … Read more
Brazilian state-run oil company Petrobras is seeking to accelerate its exit from the biofuels segment and has started the process to sell a large stake in BSBios Biodiesel, Kallanish Energy reports. The sale of the 50% stake in the biofuels company will be made in conjunction with partner RP Biofuels, which owns the … Read more
Denmark is investigating the possibility of building one or more “energy islands” with a capacity to produce 10,000 megawatts of offshore wind power, the country’s energy and climate ministry said Tuesday. The project would need between 200-300 billion krones ($29.6-$44.5 billion) in investment, of which the majority would be met by the private … Read more
The Ohio Supreme Court has dismissed a complaint filed by FirstEnergy Solutions against a proposed referendum that could have killed a $1 billion bailout for two nuclear power plants in northern Ohio, Kallanish Energy reports. FirstEnergy Solutions had argued such a bailout amounted to a tax and cannot be subjected to a … Read more
© 2018 Kallanish. All rights reserved.
