Wednesday, December 25, 2024
EPA approves California ban of fossil-fueled cars starting 2035- oil and gas 360

EPA approves California ban of fossil-fueled cars starting 2035

( Oil Price) – The Environmental Protection Agency (EPA) has approved California’s bid to enforce a rule to end sales of new gasoline-powered vehicles in the state by 2035. California Gov. Gavin Newsom has applauded the decision, saying it will improve public health by slashing harmful air pollution as residents adopt cleaner electric or hybrid vehicles. “Clean cars are here to stay,” Newsom

California gasoline prices set for another hike- oil and gas 360

California gasoline prices set for another hike

(Oil Price) – California authorities are about to make gasoline even more expensive for local drivers following a further tightening of emission rules, scheduled to be voted on this week. The vote would amend the state’s Low Carbon Fuel Standard, a program that began back in 2011 with the aim of incentivizing fuel producers to make lower-emission products by creating a carbon credit

Oil industry clashes with California's regulatory environment- oil and gas 360

Oil industry clashes with California’s regulatory environment

(Oil Price) – On October 16, 2024, the refiner Phillips 66 announced that it will cease operations at its Los Angeles-area refinery in the fourth quarter of 2025. This announcement came a few days after California Governor Gavin Newsom signed a new law placing additional regulations on refineries. The closure will affect approximately 600 employees and 300 contractors that currently work at the

California sues Exxon over global plastic pollution- oil and gas 360

California sues Exxon over global plastic pollution

Reuters NEW YORK: California has filed a lawsuit against oil giant Exxon Mobil over its alleged role in global plastic waste pollution, its attorney general announced on Monday. Speaking at an event during Climate Week in New York City, California Attorney General Rob Bonta said the state sued Exxon after concluding a nearly two-year investigation that he said showed Exxon

Exclusive: Berry Corporation at EnerCom Denver-The Energy Investment Conference 2024- oil and gas 360

Exclusive: Berry Corporation at EnerCom Denver-The Energy Investment Conference 2024

Oil and Gas 360 Publisher’s Note: You can view the EnerCom Denver—The Energy Investment Conference and the Energy Transition and Emerging Technologies Series presenter replays for a limited time.  With roots dating back to 1909, Berry Corporation is an upstream energy company engaged in the safe and responsible development and production of conventional oil reserves in the Western United States.

US power and natgas prices turn negative in Texas, California and Arizona- oil and gas 360

US power and natgas prices turn negative in Texas, California and Arizona

U.S. News U.S. spot power and natural gas prices turned negative in Texas, California and Arizona for Tuesday as pipeline maintenance trapped gas in the Permian Shale in West Texas amid low demand for energy and ample hydropower in the West. Negative prices signal there is too much power or gas being produced in a region. Energy firms can either

ANALYSIS-California and Big Oil are splitting after century-long affair- oil and gas 360

ANALYSIS-California and Big Oil are splitting after century-long affair

Nasdaq It is the end of an era for Big Oil in California, as the most populous U.S. state divorces itself from fossil fuels in its fight against climate change. California’s oil output a century ago amounted to it being the fourth-largest crude producer in the U.S., and spawned hundreds of oil drillers, including some of the largest still in

Trio Petroleum restarts production from California's McCool Ranch oil field- oil and gas 360

Trio Petroleum restarts production from California’s McCool Ranch oil field

World Oil (WO) – Trio Petroleum Corp, a California-based oil and gas company, provided an update on the restart of the McCool Ranch oil field. On Oct. 18, 2023, the company announced its acquisition of an approximate 22% working interest in McCool Ranch, which is located in Monterey County, seven miles north of the company’s flagship South Salinas Project. The

Chevron to take up to $4 billion in charges in Q4- oil and gas 360

Chevron to take up to $4 billion in charges in Q4

Nasdaq Jan 2 (Reuters) – Chevron CVX.N said on Tuesday it would take non-cash writedowns on U.S. oil and gas production, primarily in California, and for securing abandoned wells and pipelines in the U.S. Gulf of Mexico that had been previously sold. The U.S. oil major expects to take non-cash, after-tax charges of between $3.5 billion and $4 billion in its fourth quarter 2023

California's only nuclear plant gets state approval for 5-year extension- oil and gas 360

California’s only nuclear plant gets state approval for 5-year extension

Nasdaq California’s utilities regulator on Thursday granted a five-year extension to operate Pacific Gas and Electric’s PCG.N Diablo Canyon power plant, the state’s only nuclear facility, to avoid electricity shortages during extreme weather events. The California Public Utilities Commission (CPUC) approved extended operations at the 2,240-megawatts Diablo Canyon plant’s two reactor units until 2029 and 2030, from 2024 and 2025, respectively. PG&E

Trio Petroleum to acquire up to 100% of Union Avenue oil, gas field in California- oil and gas 360

Trio Petroleum to acquire up to 100% of Union Avenue oil, gas field in California

World Oil (WO) – Trio Petroleum Corp. announced the signing of an Acquisition Agreement dated May 11, 2023 to potentially acquire up to 100% of the working interest in the Union Avenue oil and gas field in Bakersfield, California. Trio has engaged KLS Petroleum Consulting LLC, an independent engineering firm, to conduct a comprehensive analysis and valuation of the asset,

Energy grid changes leave California and the Midwest vulnerable to blackouts- oil and gas 360

Energy grid changes leave California and the Midwest vulnerable to blackouts

Oil Price California and parts of the Midwest are at a high risk of electricity shortages in the coming years amid the transformation of their grid from one reliant on fossil fuels to one reliant on other sources of energy such as wind and solar.   The warning comes from the latest annual assessment of the grid by the North