Oil Price The energy transition is showing signs of losing momentum over the past few months. EV sales are slowing, wind and solar capacity additions are not expanding fast enough, and electricity is getting more instead of less expensive. With those signs, others have been flashing red, too. Despite the push against oil and gas, these are here to stay
World Oil (Bloomberg) – Oil giant Occidental Petroleum Corp. clinched a record carbon removal deal with Microsoft Corp. amid the software titan’s push to reduce its expanding emissions. Occidental, which is building a carbon-capture portfolio through its subsidiary 1PointFive, plans to build a fleet of plants that suck carbon dioxide directly from the air. Microsoft on Tuesday agreed to buy
World Oil (Bloomberg) – The Biden administration’s hub to clean carbon from the air in northwest Louisiana is getting company. On Monday, Heirloom Carbon announced that it’s constructing a facility with machines that can remove 17,000 tons of carbon dioxide from the atmosphere annually. The startup counts JPMorgan Chase & Co., Autodesk Inc. and Klarna Bank AB among its customers.
Yahoo Finance WASHINGTON – The U.S. government opened up on Friday competitive bidding that will close on Aug. 26 for $850 million in grants to help small oil and gas producers monitor and reduce methane from their operations, a major part of the Biden administration’s plan to crack down on leaks of the potent greenhouse gas. WHY IT IS IMPORTANT
Oil Price A district court in New Mexico has allowed a lawsuit to proceed against the state’s governor, legislature, and agencies for failing to uphold their state constitutional duty to protect against pollution from oil and gas drilling. The lawsuit, Atencio v. State, was filed by indigenous and environmental groups in 2023, claiming that the state of New Mexico and other
U.S. News WASHINGTON – The United States could revive some of its recently retired nuclear power plants to help meet rising demand for zero-emissions electricity, or add reactors to existing sites, Energy Secretary Jennifer Granholm said in an interview. The administration of President Joe Biden believes nuclear power is critical to meeting greenhouse gas reduction goals and decarbonizing the economy
World Oil (WO) — Energy Workforce & Technology Council (EWTC) issued a statement applauding the introduction of S.4405, the “Natural Gas Tax Repeal Act,” by U.S. Senator Ted Cruz. If passed, the act would repeal the recently implemented tax on methane emissions, a move that the EWTC believes is crucial for the future of the energy industry. “We commend Senator
Oil Price In a strategic move to bolster its commitment to sustainable energy, Saudi Aramco (2223.SE) has entered into three significant memorandums of understanding (MOUs) with U.S. companies Aeroseal, Spiritus, and Rondo. The agreements aim to explore and develop lower-carbon energy solutions, as detailed in an official statement released on Friday. Improving Pipeline Integrity The MOU with Aeroseal—an energy efficiency
Oil and Gas 360 May 7, 2024 Netherland, Sewell & Associates, Inc. (NSAI) is pleased to announce it is hosting its Oil, Gas, and CO2 Storage Property Evaluation Seminar in Rio de Janeiro this year with a one-day session on May 24. For over 25 years, global petroleum consultancy NSAI has hosted a series of highly regarded oil and gas
World Oil (WO) – Honeywell and Weatherford announced a partnership to deliver a comprehensive emissions management solution for the oil and gas industry. The agreement combines Honeywell’s emissions management suite with Weatherford’s Cygnet SCADA platform, providing customers with a powerful tool to monitor, report, and take measures to help reduce greenhouse gas emissions, flammable hydrocarbons, and other potentially dangerous and
World Oil (WO) – In October 2023, the American Petroleum Institute (API) urged the Biden administration to revise the proposed Subpart W greenhouse gas (GHG) reporting rule so that it reflects the progress the oil and gas industry has made to reduce emissions, increases reporting transparency and accuracy, and incentivizes empirical data innovations and cost-effective methane detection technologies. Today, API
Oil Price U.S. greenhouse gas emissions rose 1.3% in 2022, reflecting post-COVID economic recovery, but declined 17% since 2005, according to the Environmental Protection Agency’s (EPA) Annual US Greenhouse Gas Inventory (GHG Inventory), released every April. The EPA’s neutral policy report has been released annually since its inception in 1993, in accordance with the Paris Agreement and the United Nations
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