Romania and France have agreed to work together on the upgrade of the Cernavoda nuclear power plant's Unit 1 and construction of Units 3 and 4. Nuclearelectrica signed a partnership agreement with French nuclear power firm Orano to work on the same project with US and Canadian companies.
The Trump administration's changes to Section 401 of the Clean Water Act hinder Maryland's ability to protect the Chesapeake Bay and other waterways, writes Betsy Nicholas, executive director of Waterkeepers Chesapeake. "State and tribal authority over our waterways is essential to ensuring clean water for all Maryland residents," she writes.
Some oil refineries in Louisiana, including ExxonMobil's 517,700 barrel-per-day Baton Rouge plant and Royal Dutch Shell's 227,400-bpd Norco and 211,146-bpd Convent, La., facilities, plan to maintain normal operations during Tropical Storm Zeta, which is expected to make landfall today. Meanwhile, US Gulf of Mexico operators had idled 49.45% of oil production and 55.35% of natural gas production as of Tuesday, according to the Bureau of Safety and Environmental Enforcement.
US oil producers have so far hedged 41% of their forecasted 2021 oil output at an average West Texas Intermediate price of $42 per barrel, lower than this year's floor of $56 per barrel, according to a Rystad Energy analysis. Meanwhile, natural gas players hedged more than 45% of their projected gas production at a Henry Hub base price of $2.58 per million British thermal units, versus 2020's $2.70/MMbtu floor price, Rystad analysts said.
EQT Corp is expanding its Appalachian Basin footprint with a $735 million acquisition of Chevron's assets in the region, which include Marcellus Shale acreage, around 100 uncompleted wells and a 31% stake in Laurel Mountain Midstream. EQT plans to fund the deal with cash, credit and proceeds from an offering of 20 million shares.
US crude stockpiles added 4.6 million barrels last week and gasoline supplies rose by nearly 2.3 million barrels, while distillates fell by 5.3 million barrels, according to the American Petroleum Institute.
ConocoPhillips' 160,000-barrel-per-day Willow project in the National Petroleum Reserve-Alaska received approval from the Bureau of Land Management on Tuesday, clearing the path for construction to begin. "This decision will make a significant contribution to keeping oil flowing down the 800-mile trans-Alaska pipeline decades into the future while delivering federal and state revenue as well as important impact assistance to the affected native communities," said Interior Secretary David Bernhardt.
President Donald Trump is considering an executive order instructing the government to conduct an economic analysis of hydraulic fracturing illustrating its benefits on trade and the economy and studying the effects of a fracking ban, according to senior administration officials. The order would also require agencies to explore ways to expand the practice.
Renewable energy, energy efficiency, grid modernization and energy storage workers in 2019 earned a median wage of $23.89 per hour, significantly higher than the national median wage of $19.14, according to E2, the American Council on Renewable Energy and the Clean Energy Leadership Institute's "Clean Jobs, Better Jobs" study. The report was developed to show how clean energy creates well-paying jobs and can support economic recovery.
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