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Canada's Oil Sands Emissions Intensity Falls for Sixth Year

13 hours ago | rigzone.com | Robert Tuttle

Canada’s oil sands industry reduced its emissions per barrel for the sixth straight year in 2023, even as one growing portion of the sector moved in the opposite direction, according to new Alberta government data released Thursday. The emissions intensity of all oil sands sites fell to the equivalent of 0.399 metric tons of carbon dioxide per cubic meter of bitumen produced, down from 0.404 in 2022, the data show.
BlackRock Escapes Texas Oil-Boycott List After ESG Retreat

3 days ago | rigzone.com | Danielle Moran

BlackRock Inc. was removed from Texas’ blacklist of companies that boycott fossil fuels, ending a three-year standoff over the environmental policies of the world’s largest asset manager. The move means pension funds and other state-run investment accounts — which manage more than $300 billion of assets — will be allowed to purchase BlackRock shares, invest in its exchange-traded funds and hire the firm for advice and risk management.
July Natural Gas Contract Extended Rebound on Tuesday

3 days ago | rigzone.com | Andreas Exarheas

In an EBW Analytics Group report sent to Rigzone by the EBW team today, Eli Rubin, an energy analyst at the company, said the July natural gas contract “extended its rebound to $3.722 yesterday, recovering nearly the entirety of last week’s losses to close within 0.3¢ of the Friday before Memorial Day”.
Low USA Refined Product Inventories Add Risk to Hurricane Season

3 days ago | rigzone.com | Andreas Exarheas

Low U.S. refined product inventories add risk to the 2025 hurricane season, an analysis sent to Rigzone recently by S&P Global warned. “Despite forecasts of a less active 2025 hurricane season, tight inventories of major refined products in the United States highlight the risk of any disruption to supply,” the analysis - which was carried out by William O’Neil, a senior analyst at S&P Global Commodity Insights, and the refining insights team at S&P Global Commodity Insights - stated.
USA Energy Secretary Issues Emergency Order

3 days ago | rigzone.com | Andreas Exarheas

A release posted on the U.S. Department of Energy (DOE) website recently announced that U.S. Secretary of Energy Chris Wright had issued an emergency order “to minimize the risk of blackouts and address critical grid security issues in the Midwestern region of the United States ahead of the high electricity demand expected this summer”.
UK Could Miss 2030 Clean Power Goal, Warns Parliament Committee

3 days ago | rigzone.com | Eamon Farhat

The UK’s goal of a clean power grid by 2030 is in danger of slipping out of reach as planning delays and infrastructure bottlenecks challenge the government. The ambition requires “building more energy generation and network infrastructure at a faster pace than Great Britain has managed in recent years,” according to a report from the House of Lords Industry and Regulators Committee published on Wednesday.
Oil Extends Gains as Canada Wildfires Offset OPEC Output Hike

4 days ago | rigzone.com | Alex Longley |Mia Gindis

Oil rose for a second day as supply disruptions from Canada’s wildfires countered OPEC’s latest bumper supply increase. West Texas Intermediate advanced 1.4% to close above $63 a barrel, the highest in three weeks. The blazes in Canada’s energy heartland of Alberta have shut down almost 350,000 barrels a day of heavy crude production, more than three quarters the amount of oil OPEC and its allies agreed over the weekend to add back to the market. Strong US hiring data also supported prices.
Macquarie Strategists Forecasting USA Crude Inventory Build

4 days ago | rigzone.com | Andreas Exarheas

In an oil and gas report sent to Rigzone by the Macquarie team late Monday, Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be up by 0.3 million barrels for the week ending May 30. “This follows a 2.8 million barrel draw in the prior week, with the crude balance realizing significantly tighter than our expectations,” the strategists said in the report.
Energy Transfer Signs 20-Year Agreement to Supply LNG to Japan's Kyushu

4 days ago | rigzone.com | Rocky Teodoro

Energy Transfer LP subsidiary Energy Transfer LNG Export LLC entered into a 20-year liquefied natural gas (LNG) sale and purchase agreement (SPA) with Japan’s Kyushu Electric Power Company Inc. related to its Lake Charles LNG project. Under the SPA with Kyushu, Energy Transfer LNG will supply up to 1.0 million metric tons per annum (mtpa) of LNG, the company said in a news release.
Chevron Confirms Job Cuts to Rigzone

4 days ago | rigzone.com | Andreas Exarheas

A Chevron spokesperson told Rigzone that, on May 16, the company notified the Texas Workforce Commission (TWC) of its “anticipated workforce reduction of approximately 200 employees in Midland, Texas, in accordance with the WARN Act”. The spokesperson added, however, that the TWC “mistakenly reported the number of layoffs in Midland as 800 on its website”. “Chevron has reached out to the TWC to alert them to this error,” the spokesperson told Rigzone.