Author: AEN Staff

$200B investment in LNG required to meet demand: Shell

A decline in spending in the LNG sector since 2014 due to weak energy prices will create a supply gap beginning in the mid-2020s, unless new investments in the super-chilled fuel are made. World Maritime News photo. Shell is considering moving ahead on projects, including LNG Canada Royal Dutch Shell says that over $200 billion needs to be invested in developing new liquified natural gas projects to keep up with a projected boom in demand for LNG by 2030. There are a number of LNG facilities approved in the first half of the decade that are coming on line...

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Low-sulfur marine fuel rules an opportunity for OPEC to reclaim market share

New MARPOL (International Convention for the Prevention of Pollution from Ships) limits on sulfur content in marine fuels starting in 2020 could result in 1-1.8MMb/d of additional refinery runs to produce higher volumes of marine gasoil. This additional crude demand would contribute to crude market tightening in 2020-21 and could provide OPEC with an opportunity to increase volume and market share.  Shell photo. MARPOL legislation comes into effect in 2020 By Anna Nikitina This article was published by McKinsey Energy Insights on May 17, 2018. MARPOL in a nutshell In 2020, global sulfur limits for marine bunker fuel will be lowered...

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Syncrude joins effort to create protected boreal forest in Northern Alberta

Syncrude, provincial and federal governments, Nature Conservancy of Canada and Tallcree First Nation join forces to create Birch River Wildland Provincial Park, a protected boreal forest in Northern Alberta.  Nature Conservancy of Canada photo. Syncrude to contribute $2.3 million Syncrude is joining the governments of Alberta and Canada, the Nature Conservancy of Canada and the Tallcree First Nation in the creation of the world’s largest protected area of boreal forest. According to a press release issued by the oil sands giant, Syncrude will contribute $2.3 million to the Nature Conservancy of Canada, which made a payment for a timber...

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Oil mixed on rising greenback, drop in US crude stocks, slowing global demand

Oil prices were mixed in trading on Wednesday as investors weighed the strengthening US dollar against falling US crude stocks and slowing global demand.  Shell photo. Oil prices impacted by strength of US dollar Oil prices were mixed on Wednesday as the rising US dollar outweighed government data that showed a larger-than-expected decline in US crude stocks. By 1:54 p.m., EDT, benchmark Brent crude was up 30 cents to $78.73 and US WTI dropped 16 cents to $71.105/barrel.  The Canadian Crude Index was down 25 cents to $50.87. The US dollar hit a nearly five-month high against a number...

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Canadian gov’t to cover Kinder Morgan losses due to ‘unconstitutional’ BC political opposition

Canada’s Finance Minister Bill Morneau blamed the government of British Columbia for the delay in the construction of the Kinder Morgan Trans Mountain pipeline expansion project.  Reuters photo by Chris Wattie. Kinder Morgan stopped non-essential work on Trans Mountain pipeline in April Canadian Finance Minister Bill Morneau said on Wednesday that Canada is prepared to cover any losses Kinder Morgan Canada may suffer if construction of the Trans Mountain pipeline expansion project is delayed by political opposition. On April 8, 2018, Kinder Morgan announced it will stop all non-essential work on its pipeline project that would more than double the...

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