Opinion: LNG investments vanish in 2020 as coronavirus slashes oil and gas prices

LONDON/NEW YORK: No new liquefied natural gas (LNG) export projects could be approved this year for the first time in at least two decades, banking and industry sources said, after the COVID-19 pandemic drove down energy demand and knocked prices to all-time lows.In a stark contrast to last year’s record level of approvals for LNG […]

Mexico voids BlackRock consortium’s bid for ‘Mayan Train’ project

MEXICO CITY (Reuters) – Mexico declared void a tender process, where a consortium that includes U.S. investment group BlackRock Inc (BLK.N) was the sole bidder, to build a section of one of the government’s flagship infrastructure projects, the so-called “Mayan Train”.

Rocket Report: Delta IV Heavy gets a new date, SpaceX to destroy test tank

Living the hydrazine dream (or nightmare) … The use of hydrazine as a fuel for launch vehicles has been phased out for most of the world, Ars reports. The last major US rocket to use hydrazine was United Launch Alliance’s Delta II rocket, which used the toxic fuel in its second stage. Yet the majority […]

Climate change: Major energy companies lag in green shift

In July, Royal Dutch Shell won a deal to build a wind farm off the coast of the Netherlands, while France’s Total has agreed to make several large investments in solar power in Spain and a wind farm off Scotland. Total also bought an electric and natural gas utility in Spain. Shell has said it […]

Exxon downsizes global empire as Wall Street worries about dividend

HOUSTON: Ill-timed bets on rising demand have Exxon Mobil Corp facing a shortfall of about $48 billion through 2021, according to a Reuters tally and Wall Street estimates, a situation that will require the top U.S. oil company to make deep cuts to its staff and projects.Wall Street investors are even starting to worry about […]

PDVSA, Eni weigh options to transfer oil from idled facility amid risks

In July, Petrosucre allowed a technician to board the FSO and correct a 8% lean that was creating the risk of a spill. But other problems followed, including a sea water leak affecting its engine room that could not be fixed as the facility’s bilge pumps were out of service, the sources added.

Baton Rouge, New Orleans area people in Business for Sept. 13, 2020

Around LouisianaThe Society of Louisiana Certified Public Accountants has recognized contributions to the CPA profession and community to Lori Boeneke, chief financial officer of Wampold Companies in Baton Rouge, Outstanding CPA in Business and Industry Award; Grady Hazel, of Baton Rouge, a past executive director of the association and now chief financial officer of The […]

Exclusive: Exxon downsizes global empire as Wall Street worries about dividend

JOB REVIEWS, BENEFIT CUTS This year’s sharp drop in oil demand and pricing has shredded Woods’ plan to spend at least $30 billion a year through 2025 to revive production and earnings by expanding in oil processing, chemicals and production, and by taking a commanding role in U.S. shale and liquefied natural gas, markets that […]

Oil prices slip as Hurricane Laura’s blow unlikely to have sustained impact

The storm hit Louisiana early Thursday with 150 mile-per-hour (240 kph) winds, damaging buildings, knocking down trees and cutting power to more than 400,000 people in Louisiana and Texas. Its storm surge was less than predicted, sparing inland plants from feared flooding.

Exclusive: US official appeared to delay protections for endangered species at behest of oil group

Yet DeVito is now emerging as a critical player. At a speech last summer to Americans for Prosperity, a political advocacy group backed by the Koch brothers, DeVito described his role at the department as “the office of energy dominance”. Officially, there is no such office, though “energy dominance” has become a slogan for the […]