The infrastructure for natural gas delivery was in the spotlight again Tuesday as winter storms sent prices soaring at the main delivery point for New York City and Mid-Atlantic states, for the second time this month,The Wall Street Journal reports.
THE HAGUE, Netherlands (AP) — Royal Dutch Shell PLC says it has agreed to sell its stakes in an Australian liquefied natural gas project to the Kuwaiti Foreign Petroleum Exploration Company for $1.135 billion (840 million euros).
Shell announced Monday it is selling its eight percent stake in the Wheatstone-Iago joint venture and its 6.4 percent interest in the Wheatstone liquefied natural gas project.
Shell CEO Ben van Beurden says in a statement the company is "making hard choices in our world-wide portfolio to improve Shell's capital efficiency."
The Arctic cold blast last week prompted record-setting natural gas market responses that set new highs for demand, withdrawals from storage and prices, the Energy Information Administration reported Friday.
The week ending Jan. 10 saw the most gas pulled from underground storage, some 287 billion cubic feet, in the 20 years that data has been compiled, EIA said. That week marked the arrival of the so-called polar vortex on the East Coast, where temperatures plunged to the single digits and below.
AMSTERDAM (AP) — The Dutch Cabinet has decided to reduce the amount of gas produced from fields that lie under the country's northernmost province by 6 percent, as the mining has caused earthquakes and damaged houses in the region.
Prime Minister Mark Rutte announced the decision Friday. He said that government-commissioned studies have shown beyond a doubt that the gas production did cause the earthquakes — long a topic of debate — which have been going on for years. Although rarely registering more than 3 on the Richter scale, the quakes have led to "material and emotional" damages for some residents in the province of Groningen, Rutte said.
In the small town of Loppersum, where damages have been worst, Economic Affairs Minister Henk Kamp traveled personally to city hall to deliver the news that production there would be cut by 80 percent.
With the polar vortext sending temperatures plummeting, a record amount of natural gas was pulled out of storage tanks the week ending Jan. 10, according to EIA numbers, The Wall Street Journal reports.
Alaska's Republican Governor Sean Parnell has announced that the state intends to invest up to $5.7 billion in a natural gas refinery and pipeline project being developed by major energy companies that would boost LNG exports, The Wall Street Journal reports.
A solar summit at the White House, headlined by Energy Secretary Ernest Moniz and senior advisor John Podesta, brought an announcement of $15 million set aside for state, local and tribal authorities to use to develop solar and other projects that could help the fight against climate change, The Hill reports.
S. Elizabeth Birnbaum, who headed the agency regulating drilling at the time of the 2010 Deepwater Horizon disaster, has co-authored an opinion piece in The New York Times, charging that the Obama administration has done little in the four years since the Macondo well blowout to ensure drilling safety.
The League of Conservation Voters is ripping into Rep. Cory Gardner, R-Colo., running against Democratic incumbent Sen. Mark Udall, for his views on the environment and climate change, The Hill reports.
Baker Hughes saw a 23 percent increase in first quarter profits on earnings of $328 million, or 74 cents a share, on gains in efficiency as well as increased demand for its services as well counts grow in the Permian Basin, CEO Martin Craighead said, according to FuelFix.
Oilfield services company Schlumberger saw “solid” first quarter results, according to CEO Paal Kibsgaard, with technology sales and growth from Saudi Arabia to Ecuador to offshore Australia boosting profits 26 percent, FuelFix reports.
Lawyers with a trade group have told Reuters that the Internal Revenue Service could resume issuing letters authorizing master limited partnerships as early as May, having paused back in March to consider the proliferation of companies applying for them.
Compliance with Order 764, which mandates utilities work to integrate power from renewables into the grid, was a major topic at the monthly meeting of the Federal Energy Regulatory Commission, Platts reports.
A partnership between T. Boone Picken’s hedge fund BP capital Management and Wyoming company Moser Energy Systems, to be called Mesa Natural Gas Solutions, hopes to become the country’s biggest supplier of natural gas engines to oilfield drilling rigs, the Casper Star-Tribune reports.
A final regulation submitted by the California Department of Public Health would limit chromium to 10 parts per billion in public drinking water, the Los Angeles Times reports, noting it would be the first rule of its kind in the country.