London, 18 May, 2023, (Oilandgaspress) : Oil prices fell for a second day on Wednesday after a surprise rise in U.S. crude inventories stoked demand concerns on the heels of weaker-than-expected economic data from the United States & China.
U.S. crude stockpiles reportedly rose by about 3.6 million barrels last week, according to American Petroleum Institute figures.
The GECF Monthly Gas Market Report (MGMR) is the newest flagship publication from our team of highly-specialised experts, focusing on short-term developments in the global gas industry. It provides views on the global economy, gas consumption, gas production, gas trade including pipeline gas and LNG, gas storage, and energy prices. Furthermore, the report provides a comprehensive analysis of the key trends across each of these segments, and closely tracks new developments that may impact the global gas industry. Read More
Report on the purchase of treasury shares
On May 12, Eni acquired on the Euronext Milan no. 980,441 shares, at a weighted average price per share equal to 13.3065 euro, for a total consideration of 13,046,238.17 euro within the authorization to purchase treasury shares approved by the Shareholders’ Meeting on 10 May 2023, previously subject to disclosure pursuant to art. 144-bis of Consob Regulation 11971/1999. Following the purchases made on 12 May 2023, considering the treasury shares already held and the cancellation of 195,550,084 treasury shares resolved by the Shareholders’ Meeting on 10 May 2023 and under execution, Eni holds n. 31,528,191 shares equal to 0.93% of the share capital after cancellation. Read More
U.S. Environmental Protection Agency (EPA) Administrator Michael S. Regan and Peace Corps Director Carol Spahn convened for a ceremonial signing of a Memorandum of Understanding (MOU) between the two agencies to broaden and strengthen institutional ties and create opportunities for cooperation related to strategic planning, training, management assistance and project implementation. Through the formal partnership, Peace Corps will use evidence-based practice and traditional ecological knowledge, along with EPA’s expertise to inform its programming for Peace Corps Volunteers to help address global environmental challenges at the local level in communities around the world. Areas of collaboration include solid waste and wastewater management; improved cookstoves to protect forest and human health; building the capacity of environmental institutions; coastal, watershed and natural resource planning and management; and biodiversity preservation and restoration. In addition to programming, the MOU creates career opportunities for returned Peace Corps Volunteers and former Peace Corps staff to join the EPA team in support of their mission. Read More
energy suppliers pay £8 million for customer compensation failures
Three GB domestic energy suppliers have paid a total of £8 million for delaying or failing to make statutory compensation payments owed to energy customers, with this money going to directly benefit consumers. E.On Next, Good Energy and Octopus Energy either missed or unduly delayed the compensation payments, which are due if a supplier does not provide a final bill within six weeks when a customer switches to another provider. Energy regulator Ofgem brought in additional ‘Guaranteed Standards of Performance’ (GSOP) to reduce delays in final billing in May 2020. Since their introduction, this is the first time the regulator has taken compliance action on GSOP compensation delays, in relation to final billing performance standards. Read More
Proton Motor’s hydrogen fuel cell technology for Tunisia
Tunisia is strategically positioning itself as a major player in the production of green hydrogen. The North African country is focusing on establishing a hydrogen infrastructure based on renewable energies. The great production potential through solar and wind energy as well as the geographical proximity with connection to the European gas grid form ideal conditions for this. “Die Deutsche Gesellschaft für Internationale Zusammenarbeit GmbH” (GIZ; The German Association for International Collaboration) supports the promotion of H2 value chains with the programme “Green Hydrogen for Sustainable Growth and a Decarbonised Economy in Tunisia”. Moreover, for contextual knowledge transfer – especially for Tunisian women in the energy sector – the project “Establishment of a Bavarian-Tunisian Technology and Innovation Hub for Green Hydrogen” was launched in May 2022, which is funded by the German Federal Ministry for Economic Co-operation and Development (BMZ) and the Bavarian State Chancellery. In May 2023, Proton Motor Fuel Cell GmbH welcomed a 25-member women`s delegation of representatives of Tunisian authorities and public institutions to Puchheim for an informal company visit coordinated by the NGO “Women Engage for a Common Future” (WECF). Read More
The Government of Republic of Guiné Bissau and Eni signed a Memorandum of Intent (MoI) to explore potential areas of collaboration in the areas of exploration, nature- and technology-based climate solutions, agriculture, sustainability, and health.
This Memorandum aims to evaluate solutions to promote sustainable growth in the environmental field and to support the development of local communities. In particular, initiatives in forest protection and sustainable land management, as well as in agriculture and agri-feedstock from agricultural residues, will be evaluated.
Other areas of collaboration include the evaluation of exploration potential of the country’s offshore area.
With regards to health, the Government of Guiné Bissau and Eni have already identified a joint initiative to strengthen the emergency and intensive care services; a first batch of essential medical equipment was delivered to the Ministry of Health. Furthermore Eni Foundation – Eni’s arm dedicated to health initiatives – is conducting a feasibility study to support the actions of the Ministry of Health on improving maternal and child health in Guinea Bissau.
The MoI is alligned with the Guiné Bissau’s Government priority to invest in health, education, infrastructure and agriculture as well as with Eni’s commitment to just transition in African countries. Read More
U.S. Environmental Protection Agency (EPA) and the Department of Justice announced a Clean Air Act Settlement with BP Products North America Inc., (BPP), a subsidiary of BP p.l.c., requiring control technology expected to reduce benzene by an estimated seven tons per year, other hazardous air pollutants (HAP) by 28 tons per year, and other volatile organic compound emissions (VOC) by 372 tons per year at its Whiting Refinery in Indiana. The United States’ complaint, filed simultaneously with the settlement, alleges that BPP violated federal regulations limiting benzene in refinery wastewater streams, and HAP and VOC emissions at its Whiting Refinery, as well as the general requirement to use good air pollution control practices. As part of the settlement, BPP will install one or more permanent benzene strippers to reduce benzene in wastewater streams leading to its lakefront wastewater treatment plant. Read More
KBR (NYSE: KBR) announced today that its Board of Directors has declared a regular quarterly dividend of $0.135 per share on the company’s common stock, par value $0.001 per share, to be paid on July 14, 2023 to stockholders of record on June 15, 2023. Read More
Just Stop Oil supporters march as floods leave hundreds of thousands homeless in Italy and Somalia
Just Stop Oil supporters are out once again marching in central London this morning to demand an end to all new oil, gas and coal projects in the UK. Just Stop Oil supporters have been marching every day since the 24th of April. [1]
At around 8:00am, 24 Just Stop Oil supporters began marching on Tower Hill in the City of London. Police were on scene before the march began and by 8:17 had issued a Public Order Act (Section 12) notice. The marchers were forced off the road by 8:30 after walking a couple of hundred metres towards Tower Bridge. A further march is expected later this morning. Read More
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