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☆ Texas grid operator urges power conservation during heat wave
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: +2 min

June 20 (Reuters) - The Texas power grid operator urged homes and businesses to conserve electricity on Tuesday evening to prevent power reserves from falling short as consumers crank up their air conditioners to escape the first heat wave of the summer season. ERCOT operates the grid for more than 26 million customers representing about 90% of the state's power load. Although controlled outages are one of the most extreme actions a grid operator could take to maintain reliability, ERCOT said "controlled outages are not needed at this time." ERCOT forecast power use would reach 81,348 megawatts (MW) on Tuesday before slipping to 80,991 MW on Wednesday. Day-ahead power prices for Tuesday settled around $2,500 per MWh at 5 p.m. local time in several zones, including Houston and Dallas, according to the ERCOT website.

Persons: ERCOT, Seher Dareen, Brijesh Patel, Scott DiSavino, Kim Coghill, Will Dunham, Mark Potter Organizations: Electric, of Texas, Texans, Thomson Locations: Texas, Houston, Dallas, U.S, Bengaluru, New York

☆ New tropical depression expected to become first 2023 hurricane -US center
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +1 min

June 19 (Reuters) - The third topical depression of the 2023 hurricane season has formed in the central tropical Atlantic and is expected to become a hurricane in a few days, the U.S. National Hurricane Center said on Monday. The depression, about 1,425 miles (2,295 km) east of the southern Windward Islands, is packing maximum sustained winds of 35 miles per hour (55 km per hour), the Miami-based forecaster said. "The depression is forecast to strengthen and move across the Lesser Antilles as a hurricane on Thursday and Friday, bringing a risk of flooding from heavy rainfall, hurricane-force winds, and dangerous storm surge and waves," the hurricane center said. If the depression becomes a hurricane, it would be the first one of the 2023 season, which lasts from June through November. A slightly below-average 2023 Atlantic hurricane season lies ahead with an El Nino weather phenomenon damping the storm outlook, researchers at Colorado State University predicted in April.

Persons: Jonathan Oatis Organizations: U.S, National Hurricane Center, Atlantic, El, Colorado State University, Thomson Locations: Windward, Miami, Lesser, Puerto Rico, Virgin, El Nino, Bengaluru

☆ TC Energy shuts two compressor stations on NGTL due to Alberta wildfires
▼ + stars: | 2023-06-12 | by ( ) www.reuters.com time to read: 1 min

Companies TC Energy Corp FollowJune 12 (Reuters) - TC Energy (TRP.TO) said it completed the shutdown of two compressor stations on the NOVA Gas Transmission Ltd. (NGTL) System and a gas storage facility on Saturday that were near wildfires in Edson, Alberta. "Other sections of the NGTL system and other pipeline systems continue to operate safely and we continue to monitor the situation closely," the company said in a release. The 25,000-kilometre NGTL system ships gas across Canada and to U.S. markets. Reporting by Seher Dareen in BengaluruOur Standards: The Thomson Reuters Trust Principles.

Persons: Seher Organizations: TC Energy Corp, TC Energy, NOVA, Transmission Ltd, Thomson Locations: Edson , Alberta, Canada, U.S, Bengaluru

The last time an El Nino was in place, in 2016, the world saw its hottest year on record. DECLARING EL NINOMost experts look to two agencies for confirmation that El Nino has kicked off — NOAA and Australia's Bureau of Meteorology (BOM). The two agencies use different metrics for declaring El Nino, with the Australian definition slightly stricter. On Tuesday, Australia issued their own bulletin, noting a 70% chance of El Nino developing this year. Experts say that a strong El Nino could hit sugar production in India and Thailand, and possibly disrupt the sugarcane harvest in Brazil.

Persons: El Nino, El, John Vizcaino, Arcodia, Gloria Dickie, Seher Dareen, Marcelo Teixeira, Angus MacSwan Organizations: U.S . National Oceanic, El, El Nino, NINO, NOAA, Australia's, Meteorology, REUTERS, El Ninos, Colorado State University, Central Pacific, Central Pacific El Nino, Nino, Thomson Locations: South America, Australia, Asia, Nino, El Nino, Pacific, Magdalena, Colombia, Honda, Central, Hawaii, Central Pacific, El, India, Thailand, Brazil, Vietnam, New York, U.S, Indonesia, Malaysia, London

☆ El Nino may hammer Asian farms with dry weather, but shower American growers
▼ + stars: | 2023-06-01 | by ( Naveen Thukral | ) www.reuters.com time to read: +5 min

El Nino, a warming of water surface temperatures in the eastern and central Pacific Ocean, is expected to develop in the coming months, according to meteorologists. The onset of monsoon rains across South Asia is likely to be slightly delayed this year and El Nino could hit rice and oilseeds production. "El Nino could develop during July ... it might have an impact in the second half of the season," said O.P. "In general, a big part of the Pampean region and Northern Argentina have above-normal rains with the El Nino phenomenon." In Europe, where El Nino is not typically linked to pronounced weather patterns, major crops are in good shape after abundant spring rain, with the exception of drought-hit Spain.

Persons: El Nino, Chris Hyde, El, Phin Ziebell, Sreejith, Germán Heinzenknecht, David Tolleris, Rains, Naveen Thukral, Maximilian Heath, Mark Weinraub, Rajendra Jadhav, Gus Trompiz, Christian Schmollinger Organizations: Nino, El, National Australia Bank, India Meteorological Department, El Nino, HIT, Thomson Locations: Australia, India, Southeast Asia, Asia U.S, South America, SINGAPORE, Asia, U.S, Indonesia, Malaysia, Thailand, Pakistan, El Nino, Americas, Russia, Ukraine, New South Wales, Queensland, South Asia, ARGENTINA, United States, Argentina, Northern Argentina, China, Europe, Spain, Buenos Aires, Chicago, Mumbai, Bengaluru, Paris

Jet fuel this year will be the largest source of oil demand growth, says the International Energy Agency, which monitors energy consumption. In Singapore, jet fuel is trading around $122.30 per barrel, up 14% in the last two weeks. "Overall, we expect jet demand to increase significantly this year," he told an earnings call on Thursday, as air travel continues to rise. U.S. jet fuel inventories ended last year at 34 million barrels, the lowest since 1990, according to U.S. government data. Total jet fuel supplied, a proxy for demand, stood at 1.56 million barrels per day in 2022, the highest since 2019.

☆ TC Energy says Keystone pipeline returns to service
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: +1 min

Companies TC Energy Corp FollowDec 29 (Reuters) - Canadian pipeline operator TC Energy Corp (TRP.TO) said on Thursday it had completed a controlled restart of its Keystone crude oil pipeline to Cushing, Oklahoma, safely returning the pipeline to service after a 21 day outage. "The Keystone Pipeline System is now operational to all delivery points," the company said in a statement, while operating "with additional risk-mitigation measures, including reduced operating pressures." TC Energy did not publicly identified the cause of the spill. Under terms of PHMSA's corrective action order issued to TC after the spill, the company must operate at 20% lower pressure along the segment that ruptured once it returns to service until it receives further regulatory approval. The pipeline has had 12 significant incidents in as many years of its life, including major spills in 2017 and 2019, according to the Pipeline Safety Trust, a watchdog group.

☆ TC Energy says Keystone Pipeline operational to all delivery points
▼ + stars: | 2022-12-29 | by ( ) www.reuters.com time to read: 1 min

Companies TC Energy Corp FollowDec 29 (Reuters) - TC Energy Corp (TRP.TO) said on Thursday it had completed a controlled restart of its Keystone pipeline's extension to Cushing, Oklahoma, and the pipeline was now operational to all delivery points. The 622,000-barrel-per-day (bpd) pipeline was shut on Dec. 7 after it spilled 14,000 barrels of oil in rural Kansas, the biggest U.S. spill in nine years. "The Keystone Pipeline System is now operational to all delivery points," the company said in a statement, while operating "with additional risk-mitigation measures, including reduced operating pressures." Reporting by Seher Dareen and Deep Vakil in Bengaluru; Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Over a million without power on U.S. East Coast and Texas due to winter storms
▼ + stars: | 2022-12-23 | by ( ) www.reuters.com time to read: +1 min

Dec 23 (Reuters) - More than a million homes and businesses were without power on the U.S. East Coast, Midwest and Texas on Friday as winter storms battered much of the country, according to data from PowerOutage.us. Most outages were in North Carolina, with over 164,000 customers without power, followed by Virginia with over 92,000 and Connecticut with more than 89,000. More than a dozen other states east of the Mississippi River plus Oregon, Washington state, Missouri, Louisiana and Arkansas west of the Mississippi River each have more than 10,000 customers facing outages due to winter storms. Temperatures in northern Georgia were forecast to hit just 10 degrees Fahrenheit (-12 Celsius) with subzero wind chills. The utility with the most outages was Duke Energy Corp (DUK.N) with over 100,000 customers without power.

☆ TC Energy sends ruptured Keystone pipeline segment for testing after regulator order
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +1 min

Companies TC Energy Corp FollowDec 21 (Reuters) - TC Energy (TRP.TO) said on Wednesday that it had safely removed the ruptured segment of Keystone pipeline that caused an oil spill earlier this month and sent it for metallurgical testing as directed by U.S. regulators. TC Energy Corp had submitted its plan to restart the Keystone pipeline to the U.S. Pipeline and Hazardous Materials Safety Administration, a source familiar with the matter said on Tuesday, nearly two weeks after the line ruptured in the worst oil spill in the United States in nine years. More than 400 people are involved in the cleanup, including TC workers, pipeline regulators, state and local officials and the U.S. Environmental Protection Agency. Parts of the pipeline carrying oil from Alberta, Canada, to refineries in Illinois opened last week at reduced capacity.

☆ Dollar gains broadly as upbeat U.S. data muddles Fed rate hike views
▼ + stars: | 2022-12-05 | by ( John Mccrank | Seher Dareen | ) www.reuters.com time to read: +3 min

The survey followed on the heels of stronger-than-expected job and wage growth data for November released last Friday. "The ISM services PMI data highlighted a U.S. economy that's still showing some strength, despite tighter financial conditions," said Priscilla Thiagamoorthy, an economist at BMO Capital Markets. "While that's good news for the growth outlook, it's not so great for the Fed trying to dampen demand and ease inflation." Fed Chair Jerome Powell said last week the U.S. central bank could scale back the pace of its rate increases "as soon as December." "I think this issue about 'peak inflation, peak rates, peak dollar' - I think - is slowly turning into a 'persistence of inflation, a persistence of higher-for-longer interest rates," said Jane Foley, senior FX strategist at Rabobank.

☆ Moody's sees 'very high' foreign exchange risk for banks in Ukraine, Turkey
▼ + stars: | 2022-12-05 | by ( Seher Dareen | ) www.reuters.com time to read: +2 min

LONDON, Dec 5 (Reuters) - Banks in countries such as Ukraine and Turkey face a "very high" risk from restrictions on capital flows, weak international reserves and a high level of foreign currency debt, Moody's Investors Service said in a report on Monday. "The banks become vulnerable to an increase in defaults on foreign currency loans granted to unhedged borrowers which hurts the banks' profitability, while their liquidity and capital can also come under pressure." MSCI's index of emerging market currencies (.MIEM00000CUS) is on course for its sharpest drop since 2015. "Altogether 20 banking systems face high or very high foreign-currency risk," the report added. Foreign exchange risk is at the lowest in emerging markets such as Chile, Ivory Coast and Indonesia.

☆ U.S. watchdog seeks cybersecurity strategy for offshore energy infrastructure
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +1 min

Companies U.S. Government Accountability Office FollowNov 17 (Reuters) - A U.S. watchdog in a report made public on Thursday asked the federal regulator of offshore oil and gas infrastructure to come up with a cybersecurity strategy for the more than 1,600 facilities under its oversight. The Government Accountability Office (GAO) report highlighted that offshore facilities increasingly use technology to remotely monitor and control equipment, making them vulnerable to cyberattacks and risking environmental harm and supply disruptions. A successful cyberattack could wreak damage resembling the effects of 2010 Deepwater Horizon disaster, the report said. That disaster was not a cyberattack but it killed 11 workers and cost billions of dollars for Gulf Coast restoration. Reporting by Seher Dareen and Deep Vakil in Bengaluru Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ India's October fuel demand rises on festive season boost
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: +2 min

Consumption in October was 6.7% higher than the previous month, while also up 3.4% year-on-year at 18.37 million tonnes, the data showed. read moreIndian state fuel retailers' diesel sales also surged in October from the previous month, preliminary sales data showed last week, indicating a pickup in industrial activity. read moreSales of gasoline, or petrol, were up 8.8% from 2021 at 2.99 million tonnes, while diesel rose 5.5% at 6.98 million tonnes, the PPAC showed. Cooking gas or liquefied petroleum gas (LPG) sales decreased 3.3% to 2.40 million tonnes, while naphtha sales fell 24% to 0.96 million tonnes. Sales of bitumen, used for making roads, were 11.4% lower, while fuel oil use edged up 1% in October.

☆ Sierra Club says Mountain Valley Pipeline to give up on N. Carolina extension
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +1 min

Oct 21 (Reuters) - U.S. environmental group the Sierra Club said on Friday that the Mountain Valley Pipeline (MVP) is abandoning legal efforts in North Carolina to secure land necessary for its proposed Southgate extension. Were it completed, the Southgate project would have added 75 miles (121 km) of pipeline from Southern Virginia into central North Carolina, the statement by Sierra Club read, adding that without the land, the extension is unlikely to ever be built. Mountain Valley - owned by units of Equitrans (ETRN.N), NextEra Energy Inc (NEE.N), Consolidated Edison Inc (ED.N), AltaGas Ltd (ALA.TO) and RGC Resources (RGCO.O) - is one of several U.S. pipeline projects delayed by regulatory and legal fights with environmental and local groups that found problems with federal permits issued during President Donald Trump's administration. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Seher Dareen in Bengaluru; Editing by Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

☆ Enbridge says it agreed to pay $11 mln on Line 3 pipeline penalties
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

Companies Enbridge Inc FollowOct 17 (Reuters) - Enbridge Inc (ENB.TO) said on Monday it has reached an agreement on penalties over its Line 3 oil pipeline replacement project and that it will pay $11 million to various Minnesota regulators and the Fond du Lac Band of Lake Superior Chippewa. The Canadian company said $7.5 million of the total will be used to provide financial assurances and fund multiple environmental and resource enhancement projects, as part of the agreements with the Minnesota regulators and the Fond du Lac Band of Lake Superior Chippewa. Line 3, built in the 1960s, carries oil from Edmonton, Alberta, to refineries in the U.S. Midwest, but for years was transporting less than its capacity because of age and corrosion. The replacement project, announced in 2014 and amounting to roughly $8.2 billion, was opposed by environmental and Native American groups, particularly in the last stage of the expansion in Minnesota. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Seher Dareen and Swati Verma in Bengaluru Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Tropical Storm Karl forms in the Bay of Campeche
▼ + stars: | 2022-10-11 | by ( ) www.reuters.com time to read: 1 min

Oct 11 (Reuters) - Tropical Storm Karl formed in the Bay of Campeche on Tuesday, with storm watches issued for portions of southeastern Mexico, the U.S. National Hurricane Center said. Karl is about 215 miles (350 km) east-southeast of Tuxpan, Mexico, with maximum sustained winds of 40 miles per hour (65 km per hour), and is expected to turn west and west-southwest on Wednesday evening, approaching the coast of Mexico on Thursday. Weakening is expected by Thursday, the Miami-based forecaster added. Register now for FREE unlimited access to Reuters.com RegisterReporting by Seher Dareen in Bengaluru; Editing by Leslie AdlerOur Standards: The Thomson Reuters Trust Principles.

☆ Factbox: Over a million customers without power in Florida from Hurricane Ian
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

People walk in a hallway using a flashlight during a power outage as Hurricane Ian makes landfall in southwestern Florida, in Fort Myers, Florida, U.S. September 28, 2022. REUTERS/Marco BelloSept 28 (Reuters) - More than 1.3 million homes and businesses were without power in Florida as Hurricane Ian hit the state's west coast on Wednesday, according to local power companies. Some utilities have started to restore customers now that the storm has passed southern Florida even though the number of outages continues to increase as the storm heads inland. The U.S. National Hurricane Center said Ian was causing catastrophic storm surge, winds and flooding in the Florida Peninsula. Register now for FREE unlimited access to Reuters.com RegisterThe utility with the most outages so far was Florida Power & Light Co (FPL), a unit of Florida energy company NextEra Energy Inc (<NEE.N>).

☆ U.S. crude seen higher last week, gas and distillates inventories fall: Reuters poll
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Bing GuanRegister now for FREE unlimited access to Reuters.com RegisterSept 19 (Reuters)- U.S. crude oil stockpiles are expected to have risen last week, while gas and distillate inventories were seen lower, a preliminary Reuters poll showed on Monday. Five analysts polled by Reuters estimated on average that crude inventories rose by around 2 million barrels in the week to Sept. 16. read moreAnalysts estimated stockpiles of gasoline (USOILG=ECI) fell by about 900,000 barrels last week. Distillate inventories (USOILD=ECI), which include diesel and heating oil, were expected to have dropped by 500,000 barrels last week. The rate of refinery utilization (USOIRU=ECI)was seen 0.1% lower than 91.5% of total capacity for the week ended Sept. 9, the poll found.

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