Energy Executives News

Dominion Energy executives said on Wednesday that the electric utility's $9.8 billion offshore Virginia wind farm is on track and on budget, having recently entered a critical phase of the environmental review process.The roughly month-long crucial public comment period on the environmental impact study of the 2.6 gigawatt project will end in February, Dominion Chief Executive Officer Robert Blue said on the Richmond, Virginia-based company's quarterly earnings call. "As it relates to the project's execution…

With new global emissions standards looming, the marine shipping industry is increasingly looking at liquefied natural gas as alternative to high-sulfur bunker fuel, shipping and energy executives said at a global gas summit this week. Already used to fuel ferry fleets and cruise ships, LNG is gaining traction among freight and cargo shippers, despite a reluctance by the entrenched industry to make major changes. The stakes are high: the global shipping fleet now consumes about 4 million barrels per day of high sulfur fuel oil. "Ship owners are very conservative, they're generally a little slower to act... But it's going to happen," Peter Keller, chairman of SEA\LNG and executive VP of maritime firm Tote Inc, told Reuters at the World Gas Conference in Washington.

China's interest in reducing its trade surplus with United States through increased energy imports could advance plans for U.S. liquefied natural gas (LNG) plants, said energy executives involved in developing new facilities.The White House and China on Saturday said a U.S. trade team would travel to China to explore new energy and agricultural deals. The joint communique lowered trade tensions, lifting stock markets in Asia and the United States on Monday.There are over two dozen proposed U.S.

United States taking share from OPEC nations in Asia, Europe, as China’s biggest U.S. crude buyer to double imports. In the two years since Washington lifted a 40-year ban on oil exports, tankers filled with U.S. crude have landed in more than 30 countries, ranging from massive economies like China and India to tiny Togo. The repeal has unleashed a flood of U.S. shale oil, undercutting global crude prices, eroding the clout of the Organization of Petroleum Exporting Countries (OPEC) and seizing market share from many of its member countries. In 2005, before the shale revolution, the United States had net imports of 12.5 million barrels per day (bpd) of crude and fuels - compared to just 4 million bpd today. U.S.

Rosneft and BP signed an agreement on Saturday to jointly explore for hard-to-recover oil in Russia, the first major deal for the state-run Russian oil company since the West imposed sanctions over Ukraine in March. Rosneft chief executive Igor Sechin, a close ally of President Vladimir Putin, has been targeted by U.S. sanctions along with some other members of Putin's so-called inner circle following Russia's annexation of Crimea from Ukraine in March. Western energy bosses saved the St Petersburg International Economic forum from a complete failure by effectively standing by Russia as heads of top banks and many other firms did not show up for fear of reprisals over the sanctions.

The United States imposed fresh sanctions on Russian firms and government officials on Monday, a move that financial markets largely shrugged off and U.S. Republican lawmakers dismissed as too little to deterMoscow from further action in Ukraine. The reaction underscored the dilemma facing President Barack Obama: how to use sanctions to punish Moscow for its intervention in Ukraine without hurting European countries and foreign companies with deep financial ties to Russia. Washington slapped sanctions on seven Russian government officials and 17 companies linked to President Vladimir Putin, in response to what the White House said was Moscow's failure to adhere to an April 17 agreement on ways to resolve the crisis.

NEVA 2013, which convenes in Russia’s ‘maritime capital’ St Petersburg between September 24 and 27, will offer delegates and exhibitors the opportunity to scrutinise the significant developments in the structure and operation of Russia’s maritime industries and the nation’s growing presence on the international stage. Organized by UK-based Dolphin Exhibitions at the Lenexpo exhibition complex, NEVA 2013 is expected to attract more than 870 exhibitors from over 55 countries seeking to broaden trading ties with Russia. It will also feature a wide-ranging conference and seminar programme with an array of leading Russian and foreign experts ready to debate the key issues.

The role of Russia as a key global supplier of natural gas will be amplified at upcoming 'Russian Day' event. The Russian Energy Minister, Alexander Novak, confirms he will host a special ‘Russian Day’ at one of the world’s leading gas industry events in London this October. The role of Russia as a key global supplier of natural gas will be examined during the day-long session, which also welcomes Novak’s Deputy, Pavel Fedorov, plus chief executives from petrochemical giant SIBUR and liquefied natural gas exporter, Sakhalin Energy. Other leading government and state energy executives will also be present to explore future investment and financing issues in Russian energy and project development.

Confidence for improved margins and higher capital investment has returned to the oil and gas industry this year, according to a group of industry leaders. However in the long-term, the energy sector faces unprecedented challenges that could have a lasting impact for years to come. The comments were among those made at an exclusive roundtable event held recently in Houston by GL Noble Denton, an independent technical advisor to the industry. This event followed the publication of “Big Spenders: The outlook for the oil and gas industry in 2012”…

In the two years since oil reservoirs were discovered off Cuba's coast, Canadian, Chinese, Indian and Norwegian companies have lined up to explore the potentially lucrative Caribbean waters. U.S. oil exploration in Cuban waters - along with most U.S. trade - is prohibited under a 45-year-old U.S. embargo designed to undermine Fidel Castro's communist government. This week, American energy executives meet their Cuban counterparts in the first private-sector oil summit between the two countries. Cubans hope to inform the businessmen of their country's oil potential while undermining the embargo, which has often frustrated American corporations.