Environment

EU Carbon Price Falls After Lawmaker Suggests Market Tweaks to Prevent Spikes

The Benchmark European carbon contract fell more than 5% on Wednesday afternoon after a key European lawmaker suggested changes could be made to the EU's carbon market to allow the European Commission to act swiftly if prices rose too quickly.

New York Pension Fund to Divest Half its Shale Companies

New York's state pension fund will sell $238 million worth of stock and debt it holds across 21 shale oil and gas companies including Chesapeake Energy Corp, Hess Corp and Pioneer Natural Resources, saying they have not shown they are ready to move to a low-emissions economy.

Oil Company Directors Decline to Testify in U.S. House Climate Panel

Board members of four major oil companies declined to appear at a U.S. House oversight panel hearing scheduled for Feb. 8 to answer questions about their companies' climate change plans, the committee said on Thursday.

Peru Facing Fuel Shortage after Suspending Repsol Operations

Peru is facing a fuel shortage after the government banned Repsol SA from unloading any new oil into a local refinery after a large oil spill last month, its new prime minister said Thursday.

EU Proposes Rules to Label Some Gas and Nuclear investments as Green

Investments in some gas and nuclear power plants would be labelled as sustainable under rules proposed by European Commission on Wednesday, a plan that has split countries and investors.

EU to Propose 'Green' Investment Label for Natural Gas, Nuclear Energy

The European Commission is set to propose rules on Wednesday to allow some gas and nuclear power plants to be labelled as green investments, with minor changes to a previous draft proposal.

US Unveils $1.15 Billion for Abandoned Oil and Gas Well Cleanup

The Biden administration said it would make $1.15 billion available to states to clean up abandoned oil and gas wells as part of a broad effort to reduce U.S. climate warming emissions.

Ecuador Oil Spill Affected Protected Area in Amazon, Government Says

A burst pipeline in Ecuador caused an oil spill within a protected area of the country's Amazon rainforest, the environment ministry said, adding that the pipeline operator will face legal consequences.

Pipe Burst Leads Ecuador Pipeline Operator to Suspend Pumping Crude

OCP Ecuador, the operator of Ecuador's privately held heavy crude pipeline, suspended pumping crude as a preventative measure after it ruptured in the Amazon.

Forced Electrification Could Cost Maryland Consumers $26,000+ per Household, CEA Report Finds

Removing natural gas service and usage could cost Baltimore households more than $26,000 each, a Consumer Energy Alliance analysis found.

Thai Oil Spill Cleanup to Take 5 More Days, Navy Says

An oil spill caused by a leak from an undersea pipeline 20 km (12.4 miles) off Thailand's eastern coast will take at least five more days to clear, its navy said on Thursday.

Peru Reports Small New Oil Leak During Clean-Up of Prior Spill

Spain's Repsol SA, which was removing remnant crude oil from a pipeline 18 meters (59 feet) under the surface of the sea, said the escaped oil was an expected part of the process and contained.

Carbon+Intel: Top US Oil States Vie for Carbon Capture Oversight to Speed Up Permits

Companies are proposing carbon capture and storage hubs to sequester greenhouse gas emissions from refineries, chemical and natural gas plants, a move that could help slow global warming.

US Court Vacates Federal Permit for Mountain Valley Natural Gas Pipeline

Analysts at ClearView Energy Partners LLC said the loss of the permit likely means "completion of the pipeline this calendar year now looks unlikely."

Linde Debuts Plant for Extracting Hydrogen from Natural Gas Pipelines Using Membrane Technology

Linde Engineering started a full-scale pilot plant in Germany to showcase how its HISELECT powered by Evonik membrane technology can extract hydrogen from natural gas pipelines.

Analysts Raise EU Carbon Price Forecasts as Gas Rally Persists

Analysts have raised their European carbon market average price forecasts in response to persistently high gas prices that encourage electricity generators to use more polluting coal-fired power.

Perspective: Canada Praised for Climate Leadership Despite Scathing Watchdog Report

The report said federal investment of $12.6 billion in the Trans Mountain pipeline expansion is an example of policy incoherence in relation to moving forward on climate commitments.

Aerial Surveys Detect Dozens of Methane 'Super-Emitters' in Permian

The facilities, which include pipelines, were observed as "persistently" emitting large volumes of methane over the three years of aerial surveys.

Energy Transfer to Supply Gas to Texas Power Plants in Feb Freeze Dispute

Energy Transfer will continue providing natural gas to Vistra Corp's power plants in Texas, it said after Vistra complained to state regulators that Energy Transfer threatened to stop supplying fuel.

DNV Evaluating Hydrogen Readiness of Hungarian Gas Pipeline

FGSZ Ltd. commissioned DNV to assess the suitability for partial to full hydrogen transport of one of FGSZ’s natural gas pipelines in Hungary.

Texas Cold Snap Arrives as Industry Says NatGas Infrastructure is Ready

To avoid a repeat of last February's energy emergencies after power plants and gas pipes froze, state agencies have imposed several weatherization and other rules to ensure that power and gas supplies keep flowing.

Ensuring Resilient Infrastructure and Climate Balance

America’s energy security must be balanced with environmental stewardship while accounting for the needs and impacts of current and future generations.

Methane Leak Detection Moving to Higher Plateaus

The U.S. government continues to look at rules or fees requiring companies to track and limit volumes of methane released into the atmosphere. Investment companies such as BlackRock are also keeping a close eye on sustainability practices such as methane reduction.

MVP Preparing to Weld Final 20 Miles, Targeting Summer 2022 In-Service Date

The total project work for Mountain Valley Pipeline (MVP) is nearly 94% complete, and on track for a summer startup after state agencies approved construction permits last month.

Canada's Trans Mountain Oil Pipeline Returns to Normal Operating Pressure

Canada's Trans Mountain pipeline returned to normal operating pressure on Saturday, it said in a statement, after functioning at reduced pressure for over a month.

Canary Project Explores “Responsibly Sourced Gas” Possibilities

PureWest Energy LLC took bids on 7% of its Wyoming natural gas output that was certified as coming from net-zero wells that are also certified as being responsibly sourced. PureWest was testing the market.

American Petroleum Institute Wants Recognition for Methane Reductions

The American Petroleum Institute lobby group is seeking recognition of reductions in methane emissions by oil and gas producers as the Biden administration moves to regulate the greenhouse gas.

Climate-Fueled Permafrost Thaw Threatens Up to Half of Arctic Infrastructure

From satellite imagery, scientists estimate at least 120,000 buildings, 40,000 km (24,850 miles) of roads, and 9,500 km (5,900 miles) of pipelines could be at risk.

New England Power Prices Jump to 4-Year High as Region Freezes

Power prices in New England jumped to their highest since January 2018 as homes and businesses cranked up their heaters to escape the region's coldest day of the winter.

Worrying About Moving More Swiftly than Usual

In January 2020, Russia’s government approved a number of acts concerned with rendering new economic benefits and subsidies to businesses or investors willing to engage in projects in the country’s High North.