Company News

EOG Resources cuts $2 billion or 31% from capex budget

      Texas-based EOG Resources is cutting its 2020 capital spending by $2 billion or 31%, in the wake of the spreading coronavirus and the crude oil price war ...

Enbridge to proceed with $500M Line 5 Pipeline tunnel

Enbridge announced Friday that it intends to build a $500 million pipeline tunnel under the Straits of Mackinac after a long and continuing legal fight with the state of Michigan, ...

Repsol to build 860 MW wind project in Spain

      Spanish oil major Repsol said Friday it will build another 860 megawatts (MW) of renewables capacity in northern Spain, through 26 onshore wind farms, Kallanish Energy reports. ...

ExxonMobil exports second crude cargo from Guyana

      Guyana’s second crude oil shipment left ExxonMobil’s Liza Destiny platform Wednesday and is heading to Panama, Kallanish Energy reports. The new crude oil cargo lifted by the U.S. ...

BP eyes 10 FIDs by 2021, reviews exploration approach

British oil supermajor BP has roughly 10 new projects in the pipeline expected to receive a final investment decision (FID) by 2021, potentially adding 900,000 barrels of oil-equivalent per day ...

Kinder Morgan sells Pembina Pipeline interest for $764M

Pipeline operator Kinder Morgan announced last week it’s sold all of its 25 million shares of Canada’s Pembina Pipeline Corp. for $764 million after taxes, Kallanish Energy reports. The money ...

Energy Transfer wants to nearly double DAPL capacity

Texas-based Energy Transfer, an owner and operator of the Dakota Access Pipeline, wants to increase the pipeline’s capacity by more than 96%, to 1.1 million barrels per day of crude, ...

Petrobras accelerates biofuels exit

      Brazilian state-run oil company Petrobras is seeking to accelerate its exit from the biofuels segment and has started the process to sell a large stake in BSBios Biodiesel, ...

Denmark mulls construction of $44.5B mega wind farm

      Denmark is investigating the possibility of building one or more “energy islands” with a capacity to produce 10,000 megawatts of offshore wind power, the country’s energy and climate ...

Ohio court dismisses FirstEnergy Solutions’ suit

      The Ohio Supreme Court has dismissed a complaint filed by FirstEnergy Solutions against a proposed referendum that could have killed a $1 billion bailout for two nuclear ...

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