Iraq is turning to Chinese companies to replace ExxonMobil (XOM) in a $53 billion oil infrastructure megaproject, two sources told Energy Intelligence. The escalation in regional tensions and deadlocked negotiations have made the U.S. supermajor’s involvement in the project look increasingly doubtful in recent months, the sources said, Kallanish Energy understands. ExxonMobil … Read more
Energy Transfer LP has reported second quarter 2019 net income of $878 million, or 33 cents per share, Kallanish Energy reports, up $523 million, or 147.3%, compared to Q2 2018. The increase is due primarily to higher operating income and the impact of the simplification transaction involving Energy Transfer and Energy Transfer Operating in October 2018, … Read more
A company that specializes in decommissioning nuclear reactors is negotiating to acquire and dismantle Pennsylvania’s infamous Three Mile Island’s Unit 2 reactor, Kallanish Energy reports. The long-mothballed reactor was the site of the worst nuclear accident in the U.S., in 1979. Utah-based Energy Solutions has signed a non-binding term sheet with Gpu Nuclear, a subsidiary of Ohio-based … Read more
India is the Asia-Pacific country with the lowest renewable energy cost, according to a new research note released by independent research company Wood Mackenzie. The levelized cost of electricity (Lcoe) fell to $38 per megawatt-hour (MWh) this year, thanks to solar photovoltaic (PV). It’s 14% cheaper than coal-fired power, Kallanish Energy learns. … Read more
Plans for a Brazilian petrochemical company building an ethane cracker in northern West Virginia are dead, but state officials are still hoping another developer will build such a complex on the site, Kallanish Energy reports. That news came out last week in a series of statements and news reports. Brazil’s Braskem is … Read more
Plans for a Brazilian petrochemical company building an ethane cracker in northern West Virginia are dead, but state officials are still hoping another developer will build such a complex on the site, Kallanish Energy reports. That news came out last week in a series of statements and news reports. Brazil’s Braskem is … Read more
Ohio’s economic development arm has awarded its largest grant ever for site work for a massive, multibillion-dollar petrochemical plant being considered for eastern Ohio, Kallanish Energy reports. The $30 million JobsOhio grant is another step taken to positively influence Thai chemical company PTT Global Chemical America and its South Korean partner, Daelim … Read more
Gas-rich Russia is working to boost its liquefied natural gas production to capture 20% of the global market by 2035. According to the report Russia’s New LNG Strategy: Breaking the Ice, released by IHS Markit last year, the country aims to create a whole new industry to benefit multiple sectors of the domestic economy by marketing its untapped Arctic … Read more
A proposed ethane cracker in eastern Ohio has taken another step forward, Kallanish Energy reports. The giant international engineering firm Bechtel has announced it has been hired by Thailand’s PTT Global Chemical America and South Korea-based partner Daleim to build a $6 billion cracker. A final investment decision has not yet been … Read more
A federal agency has taken the next step in developing a key electric transmission line to serve wind development offshore New York and New Jersey, Kallanish Energy reports. The Interior Department’s Bureau of Ocean Energy Management (Boem) is publishing what is called a request for competitive interest in the Federal Register today. One company, … Read more
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