Companies seeking renewable energy power purchase agreements should be more interested in how the deals in question would affect greenhouse gas emissions than what their total capacity is, writes Daniel Cohan, an assistant professor at Rice University. Cohan argues that building new wind and solar projects will have a greater impact than purchasing renewable energy credits.
The National Hurricane Center is expected to upgrade a storm on track for the Gulf of Mexico to tropical storm status, and operators in the area have started evacuating non-essential personnel. Hess, BP, BHP Billiton and Anadarko are among the operators who have started taking precautionary measures, including securing facilities in the region.
Royal Dutch Shell has agreed to a $425 million deal with EnVen Energy to sell its Brutus/Glider operation in the Gulf of Mexico. Back in July, the company announced plans to sell $6 billion to $8 billion worth of assets this year, and as much as $30 billion over the next three years to help pay for its $54 billion acquisition of BG Group that was announced in February.
Acquisitions for the first half of the year were led by activity in the Permian Basin, and that's poised to continue through the rest of the year, even as prices rise sharply. "My biggest takeaway is just how quickly acreage prices have been rising in the Delaware Basin," said NGI's Patrick Rau, director of strategy and research.
A proposal that threatened to damage Colorado's oil and natural gas production did not receive the required number of signatures to move forward. Initiative 78 was set to stop 90% of drilling and significantly reduce the number of energy explorers in the sixth-largest gas-producing state.
Motiva's HCU in Norco, La., was restarted on Monday after a weekend of malfunctions, say sources with knowledge of the plant's operations. The refinery, which produces 237,000 barrels per day, was under repair following an Aug. 20 breakdown and had only returned to production last Friday.
Wim Thomas, Shell's chief energy adviser, says that the huge global oil oversupply may not correct itself until the end of 2017, but the company is prepared for all outcomes. "It can happen any time between the second half of this year and the second half of next year," he says.
About a dozen already-available or midtrial therapies may be able to combat the Zika virus, researchers say. The therapies affect Zika's replication.
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