The Nuclear Energy Innovation and Modernization Act, which, in part, mandates that the Nuclear Regulatory Commission update its licensing rules for new reactors and uranium-related regulations, was signed by President Donald Trump this week.
Limited supply coupled with strong demand from refiners including Marathon Petroleum and Valero Energy have pushed prices for US Gulf Coast heavy sour crudes such as Heavy Louisiana Sweet to their highest levels in three months, traders say. "Saudi imports are down, pushing up HLS and Mars relative to lighter crude because Gulf Coast refiners need heavier barrels," said Sandy Fielden, Morningstar's oil and products research director.
US benchmark Henry Hub natural gas spot prices may average $2.89 per million British thermal units in 2019 and $2.92/MMBtu in 2020, down from $3.15/MMBtu in 2018, the Energy Information Administration projects. The Appalachian Basin, Permian Basin and Haynesville Shale will continue to fuel record dry gas production, the EIA added, with expected output levels of 90.2 billion cubic feet per day in 2019 and 92.2 bcfd in 2020, up from 83.3 bcfd in 2018.
Kinder Morgan is "actively" considering an expansion of the 84,000-barrel-a-day, 500-plus-miles-long Double H pipeline from the Bakken Shale to Guernsey, Wyo., to take advantage of rising regional oil production, CEO Steven Kean said. Bakken Shale output surpassed 1.3 million barrels per day in September and could reach 1.4 million bpd in April.
Artificial intelligence has become an integral part of Royal Dutch Shell's business strategy, helping it streamline operations, improve safety and efficiency, and transition to a greener future, writes Bernard Marr. Shell is implementing AI tech such as reinforcement learning at each step of the oil and gas supply chain, seeking reduced gas extraction costs, better response to shifting power demand and fewer service station hazards.
Several House Democrats, including Natural Resources Committee Chairman Raul Grijalva, D-Ariz., urged the Interior Department to drop plans to bring back dozens of furloughed employees to work on offshore oil and natural gas drilling efforts. The Democrats called the move "outrageous" and "farcical," in addition to questioning its legality.
The US is on track to add 10.9 gigawatts of new installed wind capacity in 2019, and more than half of those additions will be in Iowa, Illinois and Texas, writes Chris Ramirez, citing Energy Information Administration data. Texas' wind industry has 13,000 operational turbines generating 14.8% of the state's electricity, and still has great potential for growth, he writes.
Orsted US Offshore Wind and the Responsible Offshore Development Alliance are planning a task force where they'll work together to ensure commercial fishing and offshore wind development can coexist in the US. "Through this partnership, we will be able to share our concerns in a productive way and develop practical solutions as we all seek to coexist and thrive for a better tomorrow," Orsted North America President Thomas Brostrom said.
Accurate data on pricing and new mechanisms for arranging deals are making risk-migration tools a popular option for major companies looking to invest in wind, says REsurety CEO Lee Taylor. These tools help companies minimize financial and weather-related risk, and may help drive down the levelized cost of renewable energy.
The 200-megawatt, 81-turbine Upstream Wind Energy Center in Antelope County, Neb., began operations on Thursday. Invenergy owns a 20% interest in the project, with WEC Energy controlling the remaining 80%.
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