Energy / Renewable Transition News
Production at Kazakhstan’s top oilfield Tengiz was reduced on Thursday, its operator Chevron Corp said, as some contractors disrupted train lines in support of protests taking place across the central Asian country. Tengiz oil field, is now gradually returning to normal production levels after protests, the Chevron-led operating consortium, Tengizchevroil, said Jan. 9.
A Russian delegation led by Deputy Foreign Minister Sergey Ryabkov arrived on January 9 in Geneva to conduct Russian-US talks on security. Moscow submitted its demands on the security guarantees on December 15. Among others, Washington should provide legal guarantees that NATO won’t expand eastward and won’t admit Ukraine and Georgia into its ranks. The Russian side also demands that nuclear armaments not be deployed beyond the boundaries of Russia and the US. The Kremlin, which unilaterally observes a moratorium on the deployment of medium-and short-range missiles in Europe, wants to ban their deployment to places where Russia and the United States could strike each other’s territories. Moscow is offering to consider all these conditions as a package deal. Neither country expects a breakthrough from the upcoming talks. Read More
Hydrogen Optimized, a subsidiary of Key DH Technologies Inc., today announced that it has entered into a confidential Letter of Intent (“LOI”) with a large industrial company to provide more than 40 MW of RuggedCell™ water electrolyser capacity for hydrogen production.
The LOI provides for high current unipolar RuggedCell™ systems to be deployed at one or more sites by the company, which plans to roll out hundreds of megawatts of electrolyser capacity over time. It also specifies that the installed systems could be scaled up as demand for hydrogen grows. Read More
CME Group today announced it will expand its benchmark U.S. Treasury futures and options offering with the addition of 20-Year U.S. Treasury Bond futures on March 7, pending regulatory review.
The new 20-Year U.S. Treasury Bond futures will allow for delivery of original issue 20-year U.S. Treasury bonds with remaining terms to maturity at delivery of at least 19 years 2 months and not more than 20 years.
Complementing CME Group’s existing suite of deeply liquid U.S. Treasury futures and options, which grew more than 15% year-over-year during 2021 to a record 4.5 million average daily volume, 20-Year U.S. Treasury Bond futures will offer greater efficiency and precision in managing exposure at the 20-year maturity point on the U.S. Treasury curve. Read More
The UK’s safe digging industry is seeing its best performance to date.
LSBUD, the UK’s leading online safe digging resource, welcomed more than 3.4 million searches for underground pipes and cables pass through its central system in 2021. This figure is up 13 percent on 2020, showcasing how all industries, particularly the farming, construction, highways, telecoms, water, gas and electricity sectors, are more committed to safe digging than has ever been the case before. Read More
Crude oil (OILUKMAR22 & OILUSFEB22) trades steady with focus on robust demand and so far, a limited fallout from the omicron surge, together with the prospect for OPEC+ struggling to deliver the promised production hikes as several producers have started to hit their limit, some due to lack of investments. Countering the short-term threat of even higher prices are easing supply disruptions in both Libya and Kazakhstan, but overall, demand remains robust as signaled in the six-month futures spread in Brent which has more than doubled since the December, omicron demand worry low point. Focus this week on EIA’s STEO and US CPI, as well as omicron developments, especially in China where the zero-tolerance approach may hurt demand through lockdowns. Read More
The Standards Organisation of Nigeria (SON) has announced plans to standardise the nation’s oil and gas sector in its bid to enhance products and services quality attainment in the sector beginning from 2022.
The Director General, SON, Mallam Farouk Salim, gave the indication in Abuja while inaugurating a Steering Committee to coordinate modalities for implementing the provisions of SON Act No 14 of 2015 as it relates to the nation’s oil and gas sector. Read More
Crude oil futures started the week mostly steady during mid-morning trade in Asia Jan. 10, erasing steep losses earlier in the trading session as the upward momentum in oil prices remained intact despite a continued rise in COVID-19 cases worldwide.
At 10:13 am Singapore time (0213 GMT), the ICE March Brent futures contract was up 7 cents/b (0.09%) from the previous close at $81.82/b, after falling by close to 50 cents/b earlier in the morning.
The NYMEX February light sweet crude contract fell 2 cents/b (0.03%) to $78.88/b. Read More
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