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Liz Hampton News

26 Mar 2024

Shipping Industry Faces Fuel Dilemma in Bid to Cut Emissions

© Yellow Boat / Adobe Stock

The shipping industry is under increasing pressure to decarbonize, but unclear regulatory guidelines, including around what sorts of cleaner fuels large vessels should run, is complicating that path to net zero, according to executives.Global shipping firms are looking for ways to lower their carbon footprints, particularly as the International Maritime Organization (IMO), which regulates the global shipping industry, is being pushed to implement a charge on the sector's greenhouse gas emissions.The IMO's Maritime Environment Protection Committee concluded its 81st meeting last week…

20 Mar 2024

Red Sea Crisis Adds 100,000 Bpd to Global Fuel Demand

© moofushi / Adobe Stock

The shipping industry is consuming an additional 100,000 barrels per day of fuel to sail longer distances needed to avoid traversing the Red Sea, Vitol Chief Executive Officer Russell Hardy said on Wednesday.Total distance traveled by ships is about 3% more than it was before Yemen's Houthi group started attacking shipping, Hardy said.Tanker traffic in the Red Sea is higher today than it was five years ago, he said, but global conflicts have shifted global trade flows."We have had to re-orientate so much all over," he said at a panel during the CERAWeek conference in Houston, Texas.

26 Jan 2024

Tanker Ablaze After Being Struck by Houthis in the Red Sea

© mino21, peangdao / Adobe Stock

Yemen's Houthi rebels on Friday stepped up attacks on vessels transiting the Red Sea, including a hit on a fuel tanker operated on behalf of trading firm Trafigura that sparked a fire.Trafigura said that the fuel tanker Marlin Luanda, which was operating on its behalf, was struck by a missile as it transited the Red Sea.Firefighting equipment on board is being deployed to suppress and control the fire caused in one cargo tank on the starboard side, the company said in an emailed statement."We remain in contact with the vessel and are monitoring the situation carefully…

14 Mar 2023

Wave of New LNG Export Plants Threatens to Knock Gas Prices

© NPershaj / Adobe Stock

A flood of liquefied natural gas (LNG) export projects due online worldwide in mid-decade will vie against lower-cost renewable energy and a revived nuclear power sector, which could rock gas prices and hurt some proposed projects, analysts say.Proposed and approved new LNG plants would boost LNG supply by 67% increase to 636 million tonnes per annum (mtpa) by 2030 from 2021 levels, potentially saturating the gas market."There's over a trillion dollars of natural gas infrastructure being built in the world today.

13 Feb 2023

Louisiana Slams EPA over Lack of Urgency on Carbon Reduction Project Approvals

©Dmitry Kovalchuk/AdobeStock

The U.S. Environmental Protection Agency (EPA) is moving too slowly to allow states to permit and oversee carbon-reduction projects, according to Louisiana's governor, slowing millions of dollars in investments designed to tackle greenhouse gas reduction.Louisiana and other top oil-producing states say they can speed up permitting of carbon sequestration projects if allowed to handle decisions that currently fall under the EPA. There are dozens of these projects with multi-million…

05 Jan 2023

Hess Signals Guyana's Seventh Oil Platform

(File photo: Hess Corp)

Hess Corp on Thursday said drilling results expected this month could add a seventh platform in Guyana, which would lift the nascent oil producing nation's output above the 1.2 million barrels of oil equivalent per day planned.The U.S. oil producer is part of the Exxon Mobil Corp-led consortium that controls all production in the tiny South American nation. The group has confirmed so far plans for six floating production vessels in the country, home to the world's largest offshore…

04 Jan 2023

US Poised to Regain Crown as World's Top LNG Exporter

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The United States is on track to become the world's biggest exporter of liquefied natural gas (LNG) this year - ahead of current market leader Australia - once a fire-idled Texas plant is restarted, according to Reuters data.A June fire sidelined Freeport LNG, the second biggest U.S. export facility, and cut U.S. exports of the fuel by about 2 billion cubic feet per day (bcfd). That outage dropped the United States behind top exporter Australia as global demand for the fuel boomed.In 2022, U.S. exports of natural gas as LNG rose 8% to 10.6 bcfd, just shy of Australia's 10.7 bcfd.

03 Aug 2022

US Regulator to Allow Freeport LNG to Resume Partial Operations in October

(File photo: Freeport LNG)

The second-largest U.S. liquefied natural gas (LNG) exporter on Wednesday said it reached an agreement with a federal regulator that will allow it to resume some operations at its Quintana, Texas, plant in October.Freeport LNG shut the plant, which supplies about 20% of U.S. LNG exports, following an explosion and fire on June 8. Its closure helped to push up LNG prices in Europe and Asia, and dampening U.S. natural gas prices.The operator reached a consent agreement with the…

14 Jun 2022

Freeport LNG Targets Year End for Full Operations After Fire

(File photo: Freeport LNG)

Freeport LNG, one of the largest operators of liquefied natural gas export plants in the United States,on Tuesday said last week's fire damage to its Texas plant would keep it fully offline until September with only partial operation through to the year end.Natural gas prices slumped in the United States and soared in Europe on the lengthier shutdown as the Quintana, Texas, facility produces roughly 20% of U.S. LNG exports and has been a major supplier to Europe, which has sought…

09 Jun 2022

Freeport LNG Plant Suffers Explosion

(Photo; Freeport LNG)

A explosion occurred on Wednesday at the Freeport LNG liquefied natural gas plant on the Texas Gulf Coast, according to police, and prompting an evacuation of nearby residents in Quintana, Texas.The plant can process up to 2.1 billion cubic feet of natural gas per day into a supercooled liquid for export.Freeport LNG acknowledged an incident occurred around 11:40 a.m. local time with providing further details. There were no injuries and all employees had been accounted for, a company spokesperson said.

30 Dec 2021

Oil Firms Predict Rising Output, But Warn of Higher Costs

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U.S. oil and gas executives are predicting higher production and drilling activity next year as oil prices climb, but say they face sharply higher costs, according to a poll released on Wednesday by the Federal Reserve Bank of Dallas.Some 49% of executives surveyed said they aim to expand output next year, while 15% said their main focus would be to maintain existing production levels and 13% plan to focus on reducing debt. Six-month outlooks remained positive, but the index declined…

17 Sep 2021

Some 28% of U.S. Gulf of Mexico Crude Output Offline

Louisiana Offshore Oil Port, Pumping Platform Complex - Credit: Edibobb - Wikimedia Commons

U.S. Gulf Coast crude oil exports are flowing again after recent hurricanes took out 26 million barrels of offshore production, according to sources and Refinitiv Eikon data, with local prices easing as more shipments moved out of the region.Hurricanes Ida and Nicholas damaged platforms, pipelines and processing hubs, shutting in most offshore production for weeks. Restarts continued on Thursday with about 28% of U.S. Gulf of Mexico crude output offline. Some vessels remained at sea waiting to load U.S. crude.But of more than 50 tankers set to load U.S.

15 Sep 2021

Gulf Coast Oil Firms Return to Ida Recovery as Storm Nicholas Recedes

Royal Dutch Shell halted production at its Perdido offshore oil platform due to heavy winds caused by Nicholas - Image Copyright - Stuart Conway/Shell

Energy companies worked to restore pipeline service and electricity after Tropical Storm Nicholas passed through on Tuesday, allowing them to return to repairing the significant damage caused by Hurricane Ida two weeks ago.Nicholas, downgraded to a tropical depression late Tuesday, caused rain, flooding, and power outages in Texas and Louisiana, where some refineries remained offline in the wake of Hurricane Ida. The earlier storm shuttered most U.S. Gulf offshore oil and gas production.Colonial Pipeline, the largest U.S.

14 Sep 2021

Oil Output, Vessel Traffic Halted as Nicholas Lashes Texas

© JACoulter / Adobe Stock

Hurricane Nicholas on Tuesday took another swipe at U.S. Gulf Coast energy facilities, cutting offshore oil and gas output gradually recovering from the last storm and disrupting power to onshore pipeline, gas and chemical plants.Royal Dutch Shell halted production its Perdido offshore oil platform due to heavy winds, and U.S. liquefied natural gas producer Freeport LNG said processing at its Texas coast facility was halted, likely due to a power outage.Power losses briefly cut Colonial Pipeline's main gasoline and diesel lines out of Houston…

14 Sep 2021

Power Outages Hit Texas Ports Following Hurricane Nicholas

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The Port of Houston on Tuesday said all terminals would remain closed due to the effects of Hurricane Nicholas and widespread power outages, and the Freeport Harbor Channel in Texas also suspended vessel movements due to unsafe conditions and power outages, according to notices from both ports.The Port of Houston anticipates resuming vessel movements on Tuesday evening and normal operations on Wednesday, then notice said.(Reporting by Liz Hampton in Denver)

13 Sep 2021

Energy Firms Face Another Storm in US Gulf

(Image: NOAA)

Royal Dutch Shell on Monday began evacuating staff from a U.S. Gulf of Mexico oil platform, and other energy companies began preparing for hurricane-force winds from a second Gulf Coast storm in as many weeks.Tropical Storm Nicholas was about 105 miles (115 km) south of Port O'Connor, Texas, and moving north with winds of 60 miles per hour (97 kph). It could become a hurricane just ahead of landfall on Monday, according to the National Hurricane Center.Waves stirred up by Nicholas neared 12 feet (3.7 m) in height were reported outside of Port Aransas…

13 Sep 2021

Houston Ship Channel Halts Inbound and Outbound Transit

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The Houston Ship Channel on Monday halted inbound and outbound transit activity head of Tropical Storm Nicholas, a port official said.Nicholas on Monday was making its way towards the southern Texas coast with sustained winds of around 60 miles per hour, according to the National Hurricane Center. It could become a hurricane before making landfall.(Reporting by Liz Hampton)

07 Sep 2021

Over 80% of U.S. Gulf of Mexico Oil Output Still Offline

Credit:Scott Bufkin/AdobeStock

More than 80% of oil production in the Gulf of Mexico remains shut in after Hurricane Ida, a U.S. regulator said on Monday, more than a week after the storm made landfall and hit critical infrastructure in the region.Energy companies have been struggling to resume production after Ida damaged platforms and caused onshore power outages. About 1.5 million barrels per day of oil production, or 84%, remains shut, while another 1.8 billion cubic feet per day of natural gas output, or 81%…

31 Aug 2021

Floods, Outages Slow Oil Companies' Efforts to Restart after Hurricane Ida

Credit: NOAA.gov

Widespread flooding from Hurricane Ida and power outages slowed efforts on Tuesday by energy firms to assess damages at oil production facilities, ports, and refineries.Nearly all of Louisiana lost electrical power on Monday after one of the most powerful hurricanes to hit the region downed transmission lines and flooded communities. Coastal areas were swamped by a storm surge so great it reversed the flow of the Mississippi River.Analysts said it could take two to three weeks to restart producing platforms and fully resume output at Louisiana refineries.

01 Sep 2021

USCG Assessing Major Damage After Ida

(Photo: U.S. Coast Guard)

The damage to Louisiana’s power grid from Hurricane Ida is so extensive that the U.S. Coast Guard has joined the task of assessing the wreckage, a departure from its maritime security duties.More than 1 million homes and businesses along the U.S. Gulf Coast are without power following Ida’s landfall late Sunday. The storm destroyed transmission lines up and down the Mississippi River, including one large tower that collapsed near Avondale, Louisiana, leaving a conductor from an electrical line in the river itself.“Where and how the tower fell…

01 Sep 2021

Mississippi River to New Orleans Set to Reopen to Vessel Traffic

© Ted / Adobe Stock

A segment of the Mississippi River from Southwest Pass to New Orleans is expected to reopen to vessel traffic by midnight, following surveys at the waterway, the Port of New Orleans said on Wednesday.The Mississippi River is the largest U.S. commercial waterway. The reopening could include restrictions, such as requiring vessels to navigate only in daylight hours, said Jessica Ragusa, spokeswoman for the port.(Reporting by Liz Hampton, writing by Marianna Parraga)

02 Sep 2021

Baton Rouge, New Orleans Ports Reopen After Ida, Key Oil Hubs Remain Shut

© momentscatcher / Adobe Stock

Most ports along the U.S. Gulf Coast had reopened on Thursday following lengthy closures from Hurricane Ida, which lashed southern Louisiana with 150-mile-per-hour winds that caused extensive infrastructure damage and floods.Two of Louisiana’s main ports, New Orleans and Baton Rouge, reopened late on Wednesday, according to the U.S. Coast Guard. They joined the already functional terminals of Panama City, Biloxi, Mobile, Pascagoula, Bienville, Beaumont, Cameron, Lake Charles, Port Arthur…

02 Sep 2021

U.S. Offshore Oil Firms Eye New Bases after Storm Damages Key Hub in Louisiana

Platforms in the Gulf of Mexico - Credit:  Mosto/AdobeStock

Offshore energy companies have started searching for new bases away from Louisiana's devastated ports as oil and gas companies launch efforts to resume their Gulf of Mexico operations.Port Fourchon, a key hub for the offshore industry, was slammed by Ida on Sunday when it made landfall with winds over 150 miles per hour (240 kph). Supply boat, fuel and air ferry services were still unable to access facilities there on Wednesday due to extensive storm damage.Dozens of oil and gas companies operate in the U.S.