OPEC+ Holds Both the Knife and the Cake October 05, 2021 OPEC+ holds both the knife and the cake in the oil market, especially as the group boasts the lion’s share of the remaining unused supply capacity in the world. Read more
Illinois Legislature saves at-risk nuclear plants with clean energy bill
Illinois Legislature saves at-risk nuclear plants with clean energy bill September 13, 2021 The Illinois Legislature has approved legislation providing nearly $700 million in subsidies over five years to save unprofitable nuclear plants, acting in the final hour to stop at least one from shutting down. Read more
As Vogtle’s costs rise, changes near for reviewing project’s run-away expenses
As Vogtle’s costs rise, changes near for reviewing project’s run-away expenses AUGUST 17, 2021 State regulators will consider signing off Tuesday on a plan marking a significant shift in how cost overruns are handled for Georgia Power’s Plant Vogtle expansion, which is already billions of dollars over budget and years…
Devon and Conoco Study $10B Shell Permian Assets
Devon and Conoco Study $10B Shell Permian Assets August 03, 2021 Devon Energy Corp. and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Read…
FirstEnergy Federally Charged in Ohio Nuclear Bailout Scheme
FirstEnergy Federally Charged in Ohio Nuclear Bailout Scheme Jul 22, 2021 Facing a federal charge for honest services wire fraud in a corruption case related to the billion-dollar nuclear plant bailout in Ohio, FirstEnergy Corp. has agreed to abide by the terms of a three-year deferred prosecution settlement to get…
Nuclear cost overrun could mean billions in extra Georgia Power profit
Nuclear cost overrun could mean billions in extra Georgia Power profit July 9, 2021 Consumers may end up paying for billions of dollars in cost overruns on the Plant Vogtle nuclear expansion. But for Georgia Power and its parent Southern Co., the extra costs could represent a huge financial windfall:…
Energy company wants $15 billion from the Biden administration for blocking the Keystone XL pipeline
Energy company wants $15 billion from the Biden administration for blocking the Keystone XL pipeline July 4, 2021 TC Energy Corporation, the company that developed the Keystone XL pipeline project, is seeking to recover more than $15 billion in damages from the United States, claiming the US government breached its…
Watchdog subpoenas FirstEnergy info on payment to regulator
Watchdog subpoenas FirstEnergy info on payment to regulator July 2, 2021 Ohio’s consumer utility watchdog is demanding that FirstEnergy Corp. share more information about $4.3 million that was paid to an attorney to end his consulting contract shortly before he became the state’s top utility regulator. Read more
Supreme Court won’t sidetrack plans for PennEast pipeline
Supreme Court won’t sidetrack plans for PennEast pipeline JUN 29, 2021 The Supreme Court sided Tuesday with a pipeline company in a dispute with New Jersey over land the company needs for a natural gas pipeline, portions of which would cut through nearly a dozen municipalities in Northampton County. Read…
Houston Oil Benchmark Responds to 2020 ‘Wake-Up Call’
Houston Oil Benchmark Responds to 2020 ‘Wake-Up Call’ June 22, 2021 Magellan Midstream Partners, L.P (NYSE: MMP) and Enterprise Products Partners L.P. (NYSE: EPD) on Monday unveiled a new futures contract for the physical delivery of crude oil in the Houston area. Read more
U.S. NRC launches investigation at Southern Georgia Vogtle 3 nuclear unit
U.S. NRC launches investigation at Southern Georgia Vogtle 3 nuclear unit Jun 21, 2021 The U.S. Nuclear Regulatory Commission (NRC) said Monday it launched a special inspection at Southern Co’s Vogtle nuclear power plant in Georgia to identify what led to remediation work at the third unit, which is under…
Oil and gas market rebound underpinned by market discipline at home and abroad
Oil and gas market rebound underpinned by market discipline at home and abroad Energize Weekly, May 26, 2021 Oil and natural gas have seen a rebound in 2021 but those gains are delicately balanced on market discipline in both global and domestic markets, according to an assessment by industry analyst…
CenterPoint to sell Arkansas, Oklahoma gas utilities for $2.15 bln
CenterPoint to sell Arkansas, Oklahoma gas utilities for $2.15 bln April 29, 2021 U.S. electricity provider CenterPoint Energy Inc (CNP.N) said on Thursday it has agreed to sell its natural gas utility businesses in Arkansas and Oklahoma to privately-held Summit Utilities for $2.15 billion in cash. Read more
Texas Storm Cost NextEra $180 Million in Uncollected Revenue
Texas Storm Cost NextEra $180 Million in Uncollected Revenue Josh Saul and Mark Chediak; Fri, April 23, 2021 NextEra Energy Inc., the world’s biggest investor-owned generator of wind and solar power, said it wasn’t able to collect $180 million in revenue following the Texas energy crisis that left the state’s…
Records reveal Entergy’s role in stalling MISO transmission planning
Daniel Tait • April 5, 2021 Entergy coordinated closely with Mississippi Public Service Commission staff and the Commission’s outside consultants to stall regional transmission projects, potentially blocking its customers’ access to lower-cost wind energy from outside Entergy’s service territory and placing them at greater risk of future power outages. Read more
SPP launches Western Energy Imbalance Service real-time balancing market
Energize Weekly, February 3, 2021 Regional transmission organization (RTO) Southwest Power Pool (SPP) launched its Western Energy Imbalance Service (WEIS) on Monday, Feb. 1. The WEIS includes parts of Arizona, Colorado, Montana, Nebraska, South Dakota, and Wyoming. The real-time balancing market is expected to decrease wholesale electricity costs, increase price…
La Plata Electric Association joins contract buyout lawsuit in Adams County
By Patrick Armijo Education, business & real estate reporter, Jan. 24, 2021 1:30 PM La Plata Electric Association has joined a civil lawsuit initially filed by United Power of Brighton claiming Tri-State Generation and Transmission broke Colorado law by adding three nonutility members so it would become federally regulated. Read more
Weak oil and gas markets forcing mergers and bankruptcies among shale operators
Energize Weekly, November 4, 2020 After weak third quarter in 2020 for oil and gas industry mergers and acquisition, one of the worst in 10 years, the fourth quarter opened with a string of big deals – a sign that the sector remains under pressure to consolidate, according to analysts.…
After a slow start, the pace of oil and gas M&A picked up in the second half of 2019
Energize Weekly, January 8, 2020 The pace of oil and gas mergers and acquisition (M&A) increased in the fourth quarter of 2019, after a strong third quarter, but the year still ended with deals far off the 10-year average when adjusted for one mega-merger. There were $96 billion in M&A…
U.S. uranium production dives in Q3 as Trump administration punts on quotas
Energize Weekly, November 13, 2019 U.S. production of uranium concentrate plummeted 27 percent in the third quarter of 2019 to 32,211 pounds after the Trump administration balked at setting quotas for uranium imports. Production was down 94 percent when compared with the third quarter of 2018, according to the federal…
U.S. is exporting a record amount of oil to a record number of markets, EIA says
Energize Weekly, October 30, 2019 U.S. crude oil exports increased to an average 2.8 million barrels a day for first seven months of 2019, sending oil to as many as 31 different markets per month, according to the federal Energy Information Administration (EIA). The U.S. is now exporting oil to…
Oil and gas merger activity rebounds in Q2 2019 as Occidental-Anadarko deal dominates
Energize Weekly, July 10, 2019 Oil and gas industry merger and acquisition (M&A) activity in the second quarter of 2019 saw a rebound from the first quarter’s historic lows reaching $65 billion for the period, according to DrillingInfo, an industry consultant and data analyst. The quarter was dominated by the…
U.S. oil production seen as a moderating force in coping with oil market price volatility
Energize Weekly, May 29, 2019 As costs come down for producing oil from shale plays, U.S. production appears to be playing a larger role in anchoring long-term oil prices, according to a Federal Reserve Bank of Dallas analysis. The combination of shorter lead times between drilling and production and the…
