TransCanada on Thursday unveiled a $1.9 billion expansion plan that would boost the shipping capacity of its NGTL natural gas system in Alberta, Canada, by 1 billion cubic feet per day. The company has secured shipper commitments to the capacity expansion for an average of nearly 29 years.
Primark has created the Global Sourcing Map, which will improve transparency by helping consumers learn about all of the factories and suppliers in its supply chain. The map includes data on the 1,071 factories and suppliers in Primark's supply chain, which will be updated by the company's Ethical Trade and Environmental Sustainability Team twice per year.
Orsted and the University of Oxford in England have a signed a five-year deal in which the duo will work together to improve the design of offshore wind turbines. Orsted Head of R&D for Wind Power Christina Aabo said the agreement with Oxford will "further mature our foundation designs to support even bigger turbines in even deeper waters, lowering costs and risk level at the same time."
Frederic Laluyaux, CEO of Aera Technology, says some of his best decisions resulted from taking a chance on people. "Someone that doesn't have the necessary pedigree on paper, but has the grit, the talent, the energy, the intelligence, and you give those folks a chance to move up very fast and take more responsibility, you get rewarded so much with that," he says.
The amount of electricity generated from renewables in the US is almost as much as output from the nation's 99 nuclear power plants, according to a report from the Business Council on Sustainable Energy and Bloomberg New Energy Finance. Nuclear power provides about 19% of the country's electricity, while renewables make up 18% of the country's energy mix.
A provision in the budget deal signed by President Donald Trump last week will more than triple a tax credit for carbon dioxide injection in oil extraction from $10 per metric ton to $35 per metric ton. The tax credit expansion will likely encourage US producers such as Occidental Petroleum to ramp up investments in enhanced oil recovery projects, which help boost oil production by extending the life of oil wells.
Houston-based Gulf of Mexico oil producer Fieldwood Energy filed for Chapter 11 bankruptcy protection on Thursday with a plan that would help the firm slash its more than $3 billion in debt by half. News of the bankruptcy filing coincided with Fieldwood's acquisition of Noble Energy's Gulf of Mexico assets in a deal worth about $700 million.
North Dakota saw its first monthly decline in oil production since June in December, with drillers pumping 1.18 million barrels per day, down nearly 15,700 barrels per day from November, according to the state's Department of Mineral Resources. North Dakota's natural gas production also posted a moderate drop from 2.1 billion cubic feet per day in November to 2.08 billion cubic feet in December.
Washington state will likely deny land leases and permits associated with the Trump administration's offshore drilling proposal because the plans are not in the "best interest of the state," State Commissioner of Public Lands Hilary Franz wrote in a letter to Interior Secretary Ryan Zinke.
The West Virginia House of Delegates on Thursday voted 60-40 in favor of a bill that would allow natural gas producers to drill on a property with consent from 75% of landowners. The House vote advances the bill to the Senate floor for consideration.
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