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☆ U.S. withdraws Trump-era land deal in Alaska wildlife refuge
▼ + stars: | 2023-03-14 | by ( Nichola Groom | ) www.reuters.com time to read: +2 min

Interior Secretary Deb Haaland addresses the Tribal Nations Summit from an auditorium on the White House campus in Washington, D.C., U.S. November 15, 2021. REUTERS/Jonathan ErnstMarch 14 (Reuters) - The Biden administration said on Tuesday it rescinded a land swap deal struck by former President Donald Trump's interior secretary that would have allowed a new road to cut through an Alaska wildlife refuge. In a statement, the Interior Department said Secretary Deb Haaland withdrew the 2019 land exchange deal between the agency and the Alaska native King Cove Corporation, but would be open to examining other proposals to replace it. Environmentalists have said a road would destroy valuable habitat for birds along Kinzarof Lagoon, and would set a dangerous precedent for other wildlife refuges. The deal set by Trump's Interior Secretary David Bernhardt in 2019 was particularly controversial because it left open the door to commercial use of the road.

Companies Conocophillips FollowWASHINGTON, March 13 (Reuters) - The oil industry on Monday cheered the U.S. government's greenlighting of ConocoPhillips' multibillion-dollar oil drilling project in Alaska's Arctic, but court challenges could mire the plans in further delays. President Joe Biden's administration approved a trimmed-down version of the $7 billion Willow project on federal lands in a pristine area on Alaska's north coast. Kristen Monsell, a senior attorney at the Center for Biological Diversity, another group involved in the previous suits, said Monday's approval for the Willow project is "still inadequate in numerous respects." Senator Dan Sullivan, a Republican from Alaska, told reporters the state's lawmakers are prepared to defend the decision against "frivolous" legal challenges. Even if Interior could beat back the oil company's challenge, it would probably only mean another delay for Willow, he said.

☆ Oil companies hit with backlash after bringing in $200 billion in profits last year
▼ + stars: | 2023-03-03 | by ( Robert Ferris | In | ) www.cnbc.com time to read: +1 min

Oil companies pulled in record profits in 2022, as oil prices skyrocketed. Revenues for the biggest integrated European and American oil companies nearly doubled during 2021. "Oil companies' record profits today are not because they're doing something new or innovative," President Joe Biden said Oct. 31. The industry has said the depiction of oil companies as greedy war profiteers is false. And while oil companies raked in cash in 2022, their fates are closely tied to the price of oil — when it falls, they lose.

☆ Republican Doug Mastriano told supporters he didn't get any money from Ohio derailment train operator Norfolk Southern. Records show he took $1,000.
▼ + stars: | 2023-02-21 | by ( Charles R. Davis | ) www.businessinsider.com time to read: +5 min

Pennsylvania state Sen. Doug Mastriano is holding a hearing Thursday on the East Palestine, Ohio, train derailment. Mastriano, a Republican, recently denied receiving any money from train operator Norfolk Southern. "Biden's in Ukraine and Shapiro's MIA," the user wrote, praising Mastriano for visiting East Palestine over the weekend. Mike DeWine, a Republican, assured East Palestine residents that their drinking water is safe. He lauded the EPA for ordering Norfolk Southern to cover the cost of cleaning up the accident.

☆ Russia ready to meet India's oil needs at 'market price', Rosneft says
▼ + stars: | 2023-02-06 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, India, Feb 6 (Reuters) - Russia was willing to meet India's oil needs at 'market price', the CEO of top Russian oil major told Reuters on Monday. Russia has emerged as the largest supplier of oil to India, replacing Iraq. When asked if Russia will give an additional stake to ONGC Videsh or other Indian companies in its Sakhalin-1 project, Rosneft CEO Igor Sechin said the decision to do so lay with the Russian government. Russia last year approved the requests of ONGC Videsh, the overseas investment arm of state-run Oil and Natural Gas Corp (ONGC.NS), and Sakhalin Oil and Gas Development Co (SODECO), a consortium of Japanese firms, to retain their 20% and 30% stake respectively in the project. Reporting by Nidhi Varma in Bengaluru, writing by Shilpa Jamkhandikar; Editing by Kim Coghill and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ A Smart House GOP Oil and Gas Play
▼ + stars: | 2023-01-26 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

The Biden Administration has repeatedly said it isn’t restricting oil and gas development. But then why is it threatening to veto a House Republican bill that would tie oil releases from the Strategic Petroleum Reserve (SPR) to oil and gas leasing on federal land? House Majority Leader Steve Scalise has teed up a vote this week on a bill that would forbid the Energy Department from tapping the SPR unless it develops a plan to increase oil and gas leasing commensurately. If the White House wants to draw down the reserve by 5%, it has to lay out a plan to increase the share of federal land leased for oil and gas production by 5%.

☆ British Columbia reaches deal with more First Nations on resource management
▼ + stars: | 2023-01-20 | by ( ) www.reuters.com time to read: +1 min

OTTAWA, Jan 20 (Reuters) - The western Canadian province of British Columbia (B.C.) on Friday announced a deal with four Indigenous First Nations to collaborate on land planning and managing the impacts of industrialization. Supreme Court ruled decades of natural resource extraction and industrial development had infringed on indigenous rights. It also contains a new revenue-sharing approach to support First Nations communities, similar to the ones agreed with Blueberry River. However, other aspects of the Blueberry River agreement, such as an annual cap on land that can be disturbed for oil and gas development, were not included.

☆ Republican Rep. George Santos will serve on House committees overseeing small businesses and science and technology: reports
▼ + stars: | 2023-01-17 | by ( Brent D. Griffiths | ) www.businessinsider.com time to read: +4 min

Republican Rep. George Santos will get to serve on two House committees. According to reports, Santos will serve on both a small business and a science-related panel. Santos will serve on both the House Small Business Committee and the Science, Space, and Technology Committee, multiple news outlets reported Tuesday. GOP Rep. Roger Williams of Texas, the chairman of the Small Business panel, told CNN that he did not "condone" Santos' behavior. Matt VanHyfte, a spokesperson for the Small Business Committee, confirmed to Insider that Santos will serve on the committee.

☆ Universal will open a new theme park in Texas and a horror experience in Las Vegas in a massive expansion
▼ + stars: | 2023-01-12 | by ( Brittany Chang | ) www.businessinsider.com time to read: +3 min

Universal Parks and Resorts has announced two new developments in Frisco, Texas, and Las Vegas. The 110,000-square-foot project in Las Vegas will become a permanent horror experience. Instead, the Texas property will be a first-of-its-kind theme park for families while the Las Vegas development will become a go-to destination for horror fanatics. But similar to Universal Orlando park and resort, this Texas property will grow to include a themed hotel as well. A rendering of Universal Parks and Resorts' upcoming horror attraction in Las Vegas.

☆ Baker Hughes to provide equipment for Petronas carbon capture project
▼ + stars: | 2023-01-03 | by ( ) www.reuters.com time to read: 1 min

Jan 3 (Reuters) - Oilfield services firm Baker Hughes Co (BKR.O) said on Tuesday it has won a contract to provide carbon dioxide compression equipment to Petronas' (PETR.UL) Kasawari offshore carbon capture project. The project is expected to be the world's largest offshore carbon capture and sequestration facility, the companies said. Baker Hughes will provide turbocompression equipment to transport CO2 emitted from flaring at the Kasawari gas development and reinject it into a depleted offshore field through a subsea pipeline. The contract will be booked in Baker Hughes' fourth quarter results, according to the company. Reporting by Ruhi SoniOur Standards: The Thomson Reuters Trust Principles.

☆ China to use Shanghai exchange for yuan energy deals with Gulf nations - Xi
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Dec 9 (Reuters) - China's President Xi Jinping said in Riyadh on Friday that China and Gulf nations should make full use of the Shanghai Petroleum and National Gas Exchange as a platform to carry out yuan settlement of oil and gas trade. China and states of the Gulf Cooperation Council (GCC) are natural partners for cooperation, Xi said in a speech at the China-GCC summit. In his speech, Xi proposed other areas for cooperation in the next three to five years, including finance and investment, innovation and new technologies, as well as aerospace, and language and cultures. China will also establish bilateral investment and economic cooperation working mechanisms, carry out local currency swap cooperation and deepen digital currency cooperation, he said. In his speech, Xi also called on China and GCC nations to be partners in promoting unity, development and security.

☆ More finance needed for Africa's energy transition opportunities
▼ + stars: | 2022-12-01 | by ( Bate Felix | ) www.reuters.com time to read: +3 min

DAKAR, Dec 1 (Reuters) - Africa's transition to cleaner fuels and power generation presents investors with opportunities across the value chain, but more direct financing is needed on projects, the head of a South African independent power producer, said on Thursday. The South African government has unveiled a five-year $84 billion transition plan to cut carbon emissions and harness other economic opportunities from the energy transition. "We want to build an African energy champion based on clean energy. POOL OF CAPITALHowever, a key question that remains to be answered on African's energy transition and its capacity to adapt to the impact of climate change, is that of finance. Anibor Kragha, executive secretary of the African Refiners and Distributors Association, acknowledged that projects on the continent were struggling to tap available finance for energy transition.

☆ Argentina agrees fuel price rise caps with firms, pledges FX access
▼ + stars: | 2022-11-28 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, Nov 28 (Reuters) - Argentina on Monday reached an agreement with major oil firms operating in the country to put a cap on fuel price increases in a bid to keep costs at the pump down for hard-hit consumers amid surging inflation. The deal with firms like state company YPF (YPFD.BA) and Shell (SHEL.L) would see fuel price increases of 4% in December, January and February and then 3.8% in March. We want all sectors to "contribute to significantly lower inflation, which is the main drama in Argentina," the Ministry of Economy said in a statement. In return, the government said that it would ensure access to foreign exchange markets for energy firms, despite tight capital controls that restrict currency conversion. "The state undertakes to guarantee access to foreign currency for firms, especially for the supply of lubricants, and to temporarily reduce taxes on fuel imports to guarantee supply for the agricultural sectors," the ministry added.

☆ Exclusive: Exxon to exit Equatorial Guinea amid wider Africa crude phaseout
▼ + stars: | 2022-11-28 | by ( Sabrina Valle | ) www.reuters.com time to read: +5 min

The company last year pumped about 45,000 bpd in Equatorial Guinea, out of the country's total production of 93,000 bpd. For Middle East and African oil producers, cash has dwindled to 30% of global flows in the last two years, from 50% between 2010 and 2020. Much of the increase comes from the United States, Canada, Guyana and Brazil, some of the places where Exxon has increased spending on oil output. NAMIBIA AND NATURAL GASWhile crude oil production wanes in West Africa, the continent's liquefied natural gas (LNG) future is on the rise and fossil fuel output could grow elsewhere in Africa. Rising demand globally could result in a 30% rise in gas production in Africa by the end of the decade, Deloitte said.

☆ Africa is hosting the UN climate summit. It's also home to 3 oil-and-gas deals announced in just two weeks.
▼ + stars: | 2022-11-16 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +8 min

During the COP27 event, three oil-and-gas deals in Africa have been announced. In the past two weeks — essentially the time of the COP27 summit — three oil-and-gas deals were announced for Africa alone, in Egypt, Nigeria, and Tanzania. That demand is evident even in announcements that purportedly support renewable energy. Plus, the projects are more expensive than building out renewable energy like solar. "If we really want to improve the lives of people, we need to invest in community renewable energy," Elmaawi said.

☆ U.S. sets March date for Gulf of Mexico drilling auction
▼ + stars: | 2022-10-20 | by ( ) www.reuters.com time to read: +2 min

Oct 20 (Reuters) - The Biden administration on Thursday said it will hold a Gulf of Mexico drilling auction in March of next year to satisfy a requirement in the government's new climate change law. Register now for FREE unlimited access to Reuters.com RegisterThe sale would be the first Gulf of Mexico oil and gas auction mandated under the Inflation Reduction Act (IRA), which President Joe Biden signed into law in August. Biden paused drilling auctions on federal lands and waters shortly after taking office as part of a climate change agenda. The IRA requires that BOEM now hold offshore auctions in the Gulf of Mexico and Alaska that the administration canceled earlier this year. It is also in the process of finalizing a five-year proposal for offshore oil and gas development.

☆ Analysis: Renewables shift lays bare Africa's energy dilemma
▼ + stars: | 2022-10-19 | by ( Bate Felix | ) www.reuters.com time to read: +7 min

Besides the 678-km West Africa gas pipeline completed in 2008, linking Nigeria, Benin, Togo and Ghana, few regional oil and gas projects exist to take products where they are needed. U.S. climate envoy John Kerry has cautioned against long-term oil and gas infrastructure investment in Africa, urging countries to turn to renewables instead. "Africa's track record for gas projects in this regard is not encouraging," the IEA said, citing delays in TotalEnergies' Mozambique project and in the Senegal-Mauritania gas project. "Funding requirements for the oil and gas industry in Africa far exceeds the capacity of any one individual country in Africa. Previous plans for major regional projects such as large-scale refineries have been thwarted by rivalries, ending in countries constructing small refineries that eventually failed, the expert added.

Whether Mozambique and its allies can stamp out the insurgency altogether is a question that has global repercussions as countries hunt for new sources of liquefied natural gas (LNG). Mozambique has huge natural gas reserves which, if managed effectively, could transform its fortunes. With already more than 100 trillion cubic feet of proven offshore natural gas reserves, one industry insider likened its future potential equal to Russia – a natural gas giant. The Mozambican forces, as had happened multiple times in smaller towns, were unable to stop them. Fighting between the terrorist group and the Mozambican army and Rwandan Security forces has left its mark on the town.

☆ Australia's Scarborough project: Race and power collide in a fight over sacred rock art in remote Australia
▼ + stars: | 2022-09-23 | by ( Hannah Ritchie | ) edition.cnn.com time to read: +21 min

More than a million drawings are etched onto rocks on Murujuga peninsula on the Western Australia coast. Resources extracted from the region have powered Australia’s economy and helped create some of the world’s largest mining and energy multinationals. Today, the fight for Murujuga’s rock art reflects long-standing and unresolved issues of race and power. Woodside Petroleum's Pluto development on Murujuga, Western Australia, June 2008. Murujuga Aboriginal Corporation chief executive Peter Jeffries.

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