#gasfield

[zvaigzdelasas]

Officials from the UK Foreign Office and the business department held an online meeting with British business leaders in November to encourage companies to take advantage of the “great opportunity” to support Azerbaijan president Ilham Aliyev’s rebuilding agenda.[...]

In the days after Baku’s military operations the UK government publicly condemned the Aliyev regime’s “unacceptable use of force” in Nagorno-Karabakh and warned that it had “put at risk efforts to find a lasting peaceful settlement” in the region.

But a recording of the online meeting, shared with the Guardian by campaigners at Global Witness, includes one senior UK government official encouraging business leaders to take advantage of the financial opportunities in the “huge western chunk of the country that needs to be rebuilt from the ground up”.

“The Azerbaijan government is supporting what it calls ‘the great return’, which is essentially providing the opportunity for the 700,000 [internally displaced people], these refugees, to basically return to Karabakh. So you have this great opportunity here actually,” the official said.

It is not clear whether the official was referring to Nagorno-Karabakh specifically, part of the far larger Karabakh region. Aliyev set out plans in 2020 to rebuild the “liberated districts” of the Karabakh region in western Azerbaijan, which includes Nagorno-Karabakh. The president said it was important that all displaced Azerbaijan citizens return to Nagorno-Karabakh and adjacent districts where they used to live.

A second government official told business leaders: “[There’s] a great opportunity here actually. [It was] just an empty land that was ready to be built over from scratch.”

Jonathan Noronha-Gant, a senior campaigner at Global Witness, said: “Behind closed doors, the UK government is calling Azerbaijan’s ethnic cleansing of Nagorno-Karabakh a ‘great opportunity’. What century are these officials living in? It’s not a great opportunity for the UK, nor for the people who were displaced.”

In the recording the first official said UK companies were “well-placed” to collaborate with the Azerbaijan government to provide infrastructure advice to “a government which has financial means given that it has very large energy resources”. Azerbaijan owns one of the world’s largest gasfields, Shah Deniz in the Caspian Sea, and is a growing exporter of gas to Europe.[...]

A UK government spokesperson said: “These comments from UK officials have been misrepresented. Discussions of reconstruction referred to the UK government’s public work to assist with possible future development in the new towns being built for those displaced by decades of conflict.

“The UK is not involved in commercial activity or reconstruction efforts in the area of Nagorno-Karabakh region recovered by Azerbaijan through its September 2023 military operation.[...]

The Guardian revealed last year that Azerbaijan’s share of two large oil and gas projects operated by British oil company BP had earned its government almost $35bn (£28.6bn), or more than four times its military spending since 2020 when war broke out in the disputed territory of Nagorno-Karabakh.[...]

BP also plans to build a 240MW solar farm in Azerbaijan’s “liberated lands”, according to Azerbaijan’s deputy energy minister. The Azerbaijani prime minister, Ali Asadov, met with the BP head of production, Gordon Birrell, recently to discuss the Sunrise solar project, which is planned for an area near the ghost city of Jabrayil, which was left in ruin after the 2020 Nagorno-Karabakh war.

22 Feb 24

[allthegeopolitics]

The United Arab Emirates says it will not support Israel in its “day after” plan in Gaza unless a Palestinian state is established. “The United Arab Emirates is not ready to support the day after the war in Gaza without the establishment of a Palestinian state,” UAE Foreign Minister Abdullah bin Zayed Al Nahyan posted on X on Saturday. In May, Israeli Prime Minister Benjamin Netanyahu published online a post-war plan for Gaza, claiming the Palestinians “would enjoy unparalleled prosperity” once it is implemented. The plan included investments in ports, solar energy, electric car manufacturing and benefits from newly discovered Gaza gasfields. The plan consisted of three stages from an unspecified “victory date” to 2035.

Continue Reading.

[workersolidarity]

[ 📹 Footage published by the Islamic resistance in Iraq, showing the firing of cruise missiles towards the Port of Ashkelon on Thursday. The resistance launched several raids on various military targets belonging to the Israeli entity. ]

🇮🇶⚔️🇮🇱 🚨

ISLAMIC RESISTANCE IN IRAQ LAUNCHES SEVERAL WAVES OF MISSILE AND DRONES STRIKES ON ISRAELI TARGETS IN THE OCCUPIED TERRITORIES

The Mujahideen of the Islamic Resistance in Iraq announced today several drone and missile strikes against the military targets belonging to the Israeli occupation army.

The resistance targeted a military stronghold in Umm al-Rashrash (Eilat), the southernmost city of the Israeli-occupied Palestinian territories, on the Gulf of Aqaba, in three waves of drone strikes.

The Islamic resistance also targeted the Ovda Airbase, in the southern Negev desert, north of Eilat, also using drones.

Another drones strike targeted the Israeli and American owned and operated Leviathan gasfield in the Mediterranean Sea.

Similarly, the resistance launched another drone strike targeting the Elifalet airbase, southeast of Safed, in the northern occupied Palestinian territories, while the resistance also targeted the Port of Ashkelon with an Araqab cruise missile.

Yet another resistance drone strike targeted the Nevatim Airbase, southeast of Beersheba.

#source

#videosource

@WorkerSolidarityNews

[tieflingkisser]

UAE says it will not back post-war Gaza plans without Palestinian state

Top diplomat says his country is not ready to take part in the post-war efforts unless a Palestinian state is established.

In May, Israeli Prime Minister Benjamin Netanyahu published online a post-war plan for Gaza, claiming the Palestinians “would enjoy unparalleled prosperity” once it is implemented. The plan included investments in ports, solar energy, electric car manufacturing and benefits from newly discovered Gaza gasfields. The plan consisted of three stages from an unspecified “victory date” to 2035. The roadmap said Palestinians in Gaza would run the plan under Israeli occupation, supervised by a coalition of Arab states, including the UAE, Saudi Arabia, Egypt, Bahrain, Jordan and Morocco. In response, Abdullah had lambasted Netanyahu, saying he “lacked legitimate authority to implement this step or take any similar measures” and making it clear that the UAE was not consulted on the Gaza plans. “Furthermore, the UAE refuses to be involved in any plan aimed at providing cover for the Israeli presence in the Gaza Strip,” a statement released by the UAE’s Ministry of Foreign Affairs said. “When a Palestinian government is formed which meets the hopes and aspirations of the brotherly Palestinian people, and is distinguished by integrity, competence and independence, the UAE will be fully prepared to provide all forms of support to that government,” it added.

[kp777]

By Adam Morton, Climate and environment editor

The Guardian

Aug. 8, 2023

Energy giants reject Australian Conservation Foundation’s infrared video investigation which claims gas leaks and venting at dozens of mines and facilities

Infrared cameras reveal more than 100 gas leaks across fossil fuel sites in Australia – video

Climate-heating methane gas is leaking or being vented from more than 100 places across 35 fossil fuel sites in Queensland and New South Wales, according to an investigation by environmental organisations.

The Australian Conservation Foundation commissioned the US-based Clean Air Task Force, a global nonprofit, to use new technology to monitor if methane was leaking from coalmines and gas facilities owned by energy giants Santos and Origin and pipeline company Jemena.

Methane is a powerful greenhouse gas with more than 80 times the global heating impact of CO2 over a 20-year period when released into the atmosphere.

The two groups released infrared videos on Tuesday that they said showed gas escaping from a range of infrastructure and mines. The organisations said the videos were recorded over a four-week period in which they visited 80 sites to take a snapshot of Australia’s fossil fuel infrastructure.

They said they found:

At least 25 visible leaks or venting places along major Jemena pipelines in the Darling Downs and in New South Wales between Newcastle and Wollongong.

At least 10 leaks or venting places at coal seam gas wells owned by Origin.

Methane being released from at least four of Santos’ seven coal seam gas wells in NSW’s Pilliga/Bibblewindi forest.

The claims were immediately rejected by two of the companies named. Origin and Santos said they had checked their gas wells after the claims were raised this week and found no leaks. Santos said a routine leak detection inspection last month by the NSW Environment Protection Authority also found no leaks.

The researchers did not suggest the companies were acting illegally, or that they were hiding emissions deliberately. They said they were concerned there was a systemic problem that was not properly regulated.

They said the videos lent further weight to previous studies that found the amount of methane released into the atmosphere was higher than reported. Data released by the International Energy Agency has suggested methane from Australian coalmines and gas production could be more than 60% higher than federal government estimates. Methane has been estimated to have caused nearly a third of the 1.2C increase in average global temperatures since the Industrial Revolution.

The Australian Conservation Foundation’s lead investigator, Annica Schoo, said the organisations had used thermal technology to detect the gas leaks. She said it showed the Albanese government needed a plan that required companies to measure and report on methane emissions properly, install technology to cut methane emissions and rehabilitate abandoned mines.

“The plan should require companies to find and fix leaks as soon as they can,” she said. “The fact is, we just don’t know how much climate-heating methane is leaking from coal and gas in Australia because the regulations are so weak and underreporting is rife.”

Australia has signed up to a global methane pledge to cut emissions by 30% in the decade to 2030.

The researchers said the videos were shot using optical gas imaging technology, which uses a filter to visually record methane’s infrared energy.

Théophile Humann-Guilleminot, an infrared thermographer with the Clean Air Task Force, said the methane leaks he saw in Australia were “on another level” compared with seven other countries in which he had worked. He said he was particularly shocked by Origin’s Talinga and Condamine gasfields.

“In times of heated debates on energy cost, seeing all this gas wasted and supercharging climate change is deeply worrying,” he said.

Read more.

[thoughtlessarse]

The future of two of the UK’s most controversial oil and gas projects has been thrown into doubt, after the energy secretary, Ed Miliband, withdrew government support for the companies in two legal cases brought by campaigners. The Jackdaw gasfield, operated by Shell, was given approval in 2022, and Greenpeace applied for a judicial review shortly after the decision. Last year, the previous Conservative government gave the green light to Equinor-operated Rosebank, the UK’s biggest untapped oilfield, against the recommendation of climate advisers. Greenpeace and Uplift demanded a judicial review, arguing that the approval was incompatible with the UK’s legally binding climate commitments, and saying that ministers’ original analysis ignored the devastating impact of burning oil from the site. In June, the cases against the oil and gasfields received a boost when the supreme court ruled in a separate case that “scope 3” emissions – that is, the burning of fossil fuels rather than just the building of the infrastructure to do so – should be taken into account when approving projects. The previous government said it would “robustly defend” these cases, but Miliband’s Department for Energy Security and Net Zero on Wednesday announced it would not challenge the judicial reviews brought against development consent for the Jackdaw and Rosebank offshore North Sea oil and gasfields, saying it was to “save the taxpayer money”.

continue reading

That's a weird reason for withdrawing support for these projects, "to save the taxpayer money," and not "it will destroy the planet." Still, it's a move in the right direction.

[astralscholar1811]

Mod Idea: The Plains of War (Part 3: The Gasfields)

(This is just a collection of ideas I'm keeping; I don't plan to do anything with them at the moment, but if you'd like to, please let me know so I can help you flush out the details if necessary)

The Endless War has resulted in so many atrocities that it would take a continent sized library to document them all, and the Gasfields, also known as the Gassed Graves, are one of them.

Introduction to the Gasfields + Incline to visit:

A yellow haze fills the skies, visible from chunks away as one approaches the toxic fumes produced inside of broken factories set at the heart of every one of these 'biomes'. Technically a superstructure more than a biome (working off of procedural generation), the Gasfields cannot be entered without a Gas Mask unless one wishes to constantly be Withered at double the health drain. The carcasses of work machines meant to try and clean the fetid air litter the biome, though some of them may reawaken once approached, reminded of their commands to keep all life away from the gas until their duty is finished. One must imagine a Cleaner happy

The gas has produced unique materials within itself, however: Misery Crystals erupt from the dead earth in large spires, used to craft Gas Grenades that poison even the most rotten undead. The gas itself makes toxic puddles and lakes that can be bucketed in order to craft poison spewing firearms, or distilled and evaporated to create a form of gas that is lethal to everything but the player through minor enchantments. The gas can also be reverse-crafted with a beacon in order to create a safe-zone within the gas, the range of safety extending with the level of the beacon, while still applying the buffs.

In addition, a new ore has grown within the Gasfields: Lethium (Not Lithium), able to be smelted and crafted into armor and weapons that not only are gas resistant (Or, in the tool's case, inflict the Gassed effect), but also as strong as Netherite. The cost is that it's about as rare as Overworld emeralds.

Mobs:

All but the Standing make a part of their lives (or unlives) within the Gasfields, though only a handful truly live within the waste.

THE UNNATURAL'S MOBS-

Gasforms- The gas has lingered in some places so long that parts of it took a more solid form. Gasforms are ghostly yellow beings able to float through walls and floors like Vexes, and fire poisonous balls of gas that cause the Gassed effect. They can be bucketed and cooked in a furnace in order to kill them without wasting weapon durability, turning them into Buckets of Toxic Waste. Said buckets can be poured to summon several neutral Gasforms.

Cicada- Buzzing metal drones that linger around structures, Cicadas observe and record the data from blocks and entities, and flee when attacked. They drop iron ingots and an Information Reel that gives a large amount of XP when used or can be crafted into an Allied Cicada that passively generates XP as long as it's alive.

Desecrators- A giant species of heavily armored insects that scuttles around the Gasfeilds poses a very large threat to player's living. These insects come in 5 Castes, all with unique mechanics and purposes:

Drone: These spider-sized bugs are the only caste to sport wings aside from the Queen, and they use them to pick up living or unliving flesh to take back to their hive pits, wherein they simply let go. They will also collect players, only letting go once they die. They do not otherwise attack. Drops Chitin and (rarely) Drone Wings. Chitin can be used to craft armor and tools (But not weapons, the tools do enough damage to substitute), and Drone Wings can be used to repair Elytras.

Warrior: Powerful insects with reinforced carapcace armor use their tremendous strength to dig the tunnels within the dead stone. Found guarding any Drop Pit, Warriors attack with their crushing front legs, or send intruders flying into the pits with a smashing headbut. Warriors drop Carapace, used to upgrade the Shield (Giving bonus Knockback resistance).

Incubator: Chock full of eggs, Incubators never leave the safety of the hive, and defend themselves by simply melting into a puddle of boiling goo that the larva can feed on. Killing an incubator before it melts gives a Living Heart, used to make a tamed Twisted (See previous post) evolve into their next stage. Looting an Incubator Corpse gives 3-7 Hive Meat, which restores 4 hunger when cooked.

Hive Guard: These high-class warriors never leave the Queen's side, and will defend her until their dying breath, using acid torrents, their powerful mandibles, and finally charging the intruder when at low health in a last-ditch effort to defend their Queen. Drops Guardian Plate and Undying Eye when killed, both of which are used to craft the Radiant Guardian armor, the strongest armor in the mod.

Queen: Responsible for every aspect of the hive, killing the Queen causes ALL Desecrators under her command to wither away and die. After her Hive Guard are either killed or removed from her, she will tear herself from her egg sack and join the fight herself. She can also fly, and acts like an insectoid dragon, hovering above melee reach and firing blobs or torrents of acid that melt armor. She will summon all nearby Desecrators to her side to defend her, and her Warriors will chew through blocks to accompany her in battle. Once she hits 10% health, she will attempt to flee the battle through any openings she can in order to start a new hive (meaning she just despawns). If she cannot flee, she will enrage and attack twice as fast. Drops a Queen Crest, Royal Jelly, and Regal Talons. Queen Crest and Regal Talons are used to craft the Executioner weapon set (A Sword, twin Axes, a Maul, and a Spear), all of which deal titanic damage and have powerful alternate abilities.

Cleaners- Found 'dead' in heaps, most Cleaners are out of power, and can be mined for iron, ancient debris, and even crystals normally found within the Tunnels. There is a 25% chance, however, that the Cleaner is simply inert, and will reawaken upon being hit with a pickaxe. All Cleaners sport a Piston Hand, and an Absorber, and will suck the player in with the later in order to launch them away with the former. Upon death, live Cleaners will drop all aforementioned materials, as well as a Cleaner Mother Circuit. CMCs can be crafted into either one of the Cleaner's weapons to be used themselves, or repaired with Netherite and slotted into a Cleaner that doesn't try and kill you in order to "tame" one. One tamed, it can be accessed and outfitted for transportation (With lots of carry slots and the ability to sort stored items into chests), terraforming (Cleans out a small portion of Gas to live in), or combat (Deals additional damage, and can't damage/knockback the player. Tamed Cleaners can also walk through portals.

[zvoneradikalni]

O Evropi i plinu

Pročitavši ovo: “Most short-sighted is Europe’s failure to take advantage of its own gas reserves. The Netherlands boasts a gasfield in Groningen which could, without any new infrastructure, provide about half as much gas as Russia used to supply to Germany. Yet production is minimal and the field is scheduled to close by 2024. The Dutch government fears the wrath of local homeowners who have…

[uniofaberdeen]

'World-class' study highlights CCUS potential for North Sea 'super basin'

A research study led by the University of Aberdeen has identified areas of a North Sea gas 'super basin' with the greatest potential for storing industrial carbon emissions, a key aim of the energy transition.

Described as ‘world-class research’ by the UK Regulator, the North Sea Transition Authority (NSTA), scientists from the University’s Centre for Energy Transition used subsurface data and techniques usually employed in oil and gas exploration, to produce a detailed technical study of the Anglo-Polish Super Basin in the Southern North Sea to determine its suitability for carbon capture, utilisation and storage (CCUS).

Their results confirm the huge potential of the area – a globally important hydrocarbon basin – as a future CCUS hub where industrial emissions can be safely stored in former gasfields and other geological formations.

If used in this way, the basin could play a major role in helping European nations sequester carbon emissions and meet net zero targets while promoting energy security, protecting industrial activity and prolonging the life of North Sea basin infrastructure.

As well as showing the geological criteria that determine the areas with the greatest potential, the study also highlights the need to assess non-geological risks – such as the potential for leaks along legacy wells and the need to avoid co-location conflicts with other stakeholders such as windfarm operators or the fishing industry.

The research provides a framework that can be used to determine CCUS suitability in other major basins around the world, as part of global efforts to safely store billions of tonnes of CO2 in geological formations.

The two-year study funded by the Net Zero Technology Centre was led by Professor John Underhill, Director of the University’s Centre for Energy Transition, along with colleagues from Heriot Watt University in Edinburgh. It was published in the AAPG Bulletin, a high-impact major international journal.

Professor Underhill said: “The study highlights the areas where the best carbon stores are located and provides a basis to evaluate and rank sites.

“Perhaps just as importantly, it also demonstrates the urgent need for regulators and stakeholders to work together to resolve any issues that may arise from the co-location and overlap of technologies to avoid competition for the offshore real estate. This is vital in ensuring that the UK remains on track to retain energy security and meet its net zero emission targets.

“The study also has global relevance and application, and the workflow we have used has already been adopted by other countries. We have also used it to undertake studies in other parts of the UK as well as in Malaysia, Egypt and Brazil.”

Dr Nick Richardson, Head of Exploration & New Ventures at the UK’s regulator for Carbon Storage activities, the North Sea Transition Authority, said: “The Aberdeen University-led team has made a timely and incisive contribution with this world-class research that puts the UK’s storage resource capability on the map as a leading destination for the sequestration of industrial emissions from across Europe.

“By establishing a consistent regional geological framework, this work will assist the evaluation of storage sites within the Southern North Sea, allowing the optimisation of their exploitation and supporting assessments of risk and uncertainty. It will also aid regulatory and marine planning bodies in their ongoing efforts to identify synergies between offshore activities, and maximise opportunities for innovation and collaboration on the pathway to net zero.”

Graeme Davies, Harbour Energy’s Project Director of Viking CCS said: "The UK Continental Shelf, and in particular the Southern North Sea Gas Basin, provides world-class CO2 storage opportunities as we look to decarbonise our industrial and power sectors.

"This leading independent academic study into the basin’s geology and structured approach to risk segment analysis provides a robust platform for the long-term development of CO2 storage opportunities and provides further insight into how we are well positioned to use our existing oil and gas sector’s skills, data and infrastructure to help develop the burgeoning CCS industry in the UK."

[indoorverticalfarmingnews]

Queensland Government Supports Recommendations from Gasfields Commission Review to Strengthen Coexistence of Resource and Agriculture Sectors

The Queensland Government has announced its commitment to broadly support all recommendations from the Gasfields Commission Queensland’s review into coal seam gas (CSG)-induced subsidence. These measures aim to bolster protections that enable the resource and agriculture sectors to coexist harmoniously. The government will fully support six recommendations from the review, while the remaining two…

[qudachuk]

Ministers are weighing up a new gasfield but is more UK fossil fuel production necessary or desirable given its climate commitmentsThe UK government is considering whether to approve a giant new oil and gasfield in the North Sea, despite...

[zvaigzdelasas]

[Cyprus Mail is Greek-Cypriot Media]

in 1960 [the] strong friendship between Archbishop Makarios and President Nasser created the climate which has nourished the sincere friendship and understanding between our two peoples ever since.

The two countries have developed a network of cooperation in a variety of fields. First and foremost comes energy which has acted as a catalyst. The newly discovered gasfields in the Cypriot EEZ have recently acquired major importance, in view of the consequences of the war in Ukraine, which Europe had to face. It is, therefore, imperative that the Cypriot energy potential be linked to that of Egypt before being re-exported to Europe. It augers well that an agreement has been signed between Cyprus and Egypt to connect “Aphrodite”, the biggest Cyprus gasfield, with Egyptian liquefaction plants.

Moreover, the signing of the memorandum between Cyprus, Egypt and Greece for an electricity connection project holds great potential for connecting the electricity grids not only of the three signatories, but also of both continents together, thus diversifying their energy mix, and enhancing Europe’s energy independence. Extremely useful is also the fact that in 2019 Egypt partnered with regional countries (Cyprus, Egypt, France, Greece, Italy, Jordan and Palestine) the Eastern Mediterranean Gas Forum (EMGF) with headquarters in Cairo. This forum brings together governments the private sector and financial institutions to discuss the formation of a competitive regional gas market.[...]

[There is also] the trilateral cooperation agreement of Cyprus, Greece and Egypt and the two other agreements signed between Greece and Egypt. The first, the maritime treaty creating an exclusive economic zone for oil and gas drilling rights in the Mediterranean sea, was signed in Cairo on August 6, 2020, as a response to the illegal Libya (GNA)–Turkey maritime deal.

Moreover, [egyptian] Foreign Minister Sameh Shoukry in a statement to Al Arabiya on October 30 confirmed that dialogue between Egypt and Turkey to normalise their ties has come to an end as Turkish practices in the conflict-torn Libya remain unchanged.

11 Dec 22

[gasgeneratorus]

Natural Gas Generators

Natural gas travels thousands of miles before reaching its final destination. It is likely to be transported through pipelines that are under pressure from distant locations such as the Rocky Mountains and the Gulf of Mexico. The Panhandle-Hugoton gasfield in Texas has an estimated reserve totaling 66 trillion cubic inches.

From the existing reservoirs and large reserves in the Alaskan region, the US has an estimated 200 trillion cubic feet of reserve. Advanced technologies such as 3-D seismic vibration and drilling technology have helped increase natural gas production. The US has approximately 400,000 wells, which is a 20 percent increase in five years. However, the US has not been able produce enough to meet demand. It is expected that demand will rise by 40% between 2025 and 2025 Natural Gas Generator.

However, governmental policies are more restrictive than any other factor when it comes to natural gas production. The Bureau of Land Management rules and restrictions for gas companies prevent them from exploring new gas discovery opportunities. Gas companies were discouraged from producing more because of price controls implemented in the 1970s. The positive side is that the shift from hydroelectric to natural gas as the fuel choice has acted as an incentive for oil- and gas companies produce more.

More than 2,000 companies produce gas in the US. The largest five, Chevron and BP, each produce 18%. BP is the largest US producer of natural gas. Dominion Home is one of the major players in downstream processing and transportation. They produce, store, and transmit gas.

As the shortage in supply was caused over time, so too can the solution to the shortage in demand and subsequent price rises. This will only be possible over the course of many years. This is what the gas industry is trying to do.

[newzzwired]

HSBC to stop new oil and gas project funding after backlash

HSBC to stop new oil and gas project funding after backlash

HSBC will cut direct financing and advisory ties to new oil and gasfields or metallurgical coal projects, after coming under fierce criticism over its climate change policies from shareholders and environmental activists. The symbolic step to limit its direct exposure to the most polluting fossil fuels does not restrict its financing of energy companies with expansion plans, but it could place…

[razmah1]

Rosmari-Marjoram Gasfield, Malaysia

Dateline 2022-08-11, Offshore Technology: Rosmari-Marjoram is a proposed sour gas field development located in Block SK318, offshore Sarawak, Malaysia. Sarawak Shell Berhad (SSB), a Malaysian subsidiary of Shell, has 75% ownership and is the operator of the gasfield. Petronas subsidiary Petronas Carigali holds a 15% stake in the field while Brunei Energy Exploration owns the remaining 10%…

[sanjosenewshq]

US exports file oil volumes as gas value tensions construct

The US is exporting file volumes of oil and taking over an even bigger function as a gas provider in response to the worldwide power crunch attributable to Russia’s warfare in Ukraine, at the same time as tensions flare over petrol costs at dwelling. Mixed US exports of crude oil and refined petroleum merchandise surged to 11.4mn barrels a day final week, in keeping with knowledge launched on Wednesday by the Vitality Data Administration, probably the most ever reported. The shipments have been virtually 2mn b/d greater than the earlier week and got here regardless of oil corporations dealing with strain from Washington to ship much less gas overseas and construct home shares as president Joe Biden’s administration tries to curb costs on the pump forward of crucial midterm elections. Buffeted by excessive costs, the White Home has refused to rule out controls on gas exports. Vitality secretary Jennifer Granholm wrote to grease refiners in August calling on them to construct shares of gas to keep away from “extra federal necessities or different emergency measures”. The prospect of curbs on exports re-emerged after the Saudi Arabia-led Opec+ oil cartel not too long ago lower manufacturing. The Biden administration stated final week “all choices” remained on the desk to “guarantee home provide”. Export controls would threat angering international locations that depend upon US provides. Oil corporations have warned that any ban on refined product gross sales may improve home gas costs and “alienate US allies throughout a time of warfare”. The US has change into an important provider to world power markets because the shale drilling revolution reworked manufacturing from its oil and gasfields greater than a decade in the past. Its significance has grown as Opec+ introduced cuts to manufacturing and the EU implements an embargo on Russian crude later this yr in response to the warfare. The US continues to be a big oil importer, with inbound crude shipments averaging 6.2mn b/d final week from international locations together with Canada and Saudi Arabia, a few of which shall be exported once more after it’s refined into petrol or diesel. US exports of crude have been 5.1mn b/d a day final week, a file degree, in keeping with the EIA. For refined merchandise the determine was 6.3mn barrels a day, shy of a file 7mn b/d earlier this month. Biden stated final week he was doing “all the things in [his] energy” to deliver down the value of petrol, which hit file ranges this summer season. It has since fallen sharply, however at $3.76 a gallon, stays greater than 60 per cent greater than when he took workplace. At $5.32 a gallon, the value of diesel, used to energy business, has not fallen as sharply from its peak and is about double its degree when Biden entered the White Home. US inventories of distillate, which incorporates diesel and heating oil, have been 106mn barrels final week, a couple of fifth decrease than the five-year common. Biden has ordered his officers to organize for extra releases from the nation’s Strategic Petroleum Reserve as a file drawdown introduced in March involves an finish. The SPR releases and rising exports have taken petroleum shares to about 1.6bn barrels, their lowest since 2005, elevating considerations about US preparedness in case of huge provide disruptions. Originally published at San Jose News HQ