Energy news in brief

** New Orleans-based utility Entergy Corp. said that 207 transmission lines covering more than 2,000 miles were knocked down by Hurricane Ida’s wrath, and that the approximately 900,000 customers who do not have power in Louisiana and Mississippi may have to wait roughly three weeks for restoration.

** Enerplus Corporation announced that it has entered into a definitive agreement to sell its interests in the Sleeping Giant field (Montana) and Russian Creek area (North Dakota) in the Williston Basin for total consideration of US$115 million. In addition, Enerplus will receive up to US$5 million in contingent payments if the WTI oil price averages over $65 per barrel in 2022 and over $60 per barrel in 2023. The effective date of the transaction is July 1, 2021.

** The Texas oil refinery that Petroleos Mexicanos is buying has racked up a rare net loss of about $360 million this year, adding to the challenges Mexico faces in seeking energy independence. Mexico’s state-owned oil giant agreed in May to buy Royal Dutch Shell Plc’s majority stake in the Deer Park refinery.

** The Minnesota Court of Appeals on Monday affirmed a decision by state pollution regulators to issue a water quality certification for Enbridge Energy’s Line 3 crude oil pipeline, the latest setback for opponents who are trying to stop the project as it nears completion.

** The British government is being urged by the Blair Institute to charge motorists by the mile amid warnings that the switch to electric vehicles will triple the amount of time we spend stuck in traffic. There are currently around 100,000 electric cars on Britain’s roads, but that figure is expected to soar to 25 million by 2035.

** U.S. Rep. Ilhan Omar is leading a letter with Democratic members of Congress and scores of Minnesota state lawmakers calling for “urgent intervention” from President Joe Biden to halt the Line 3 pipeline project.

** Ukraine’s leader is visiting the United States this week in hopes of bolstering security ties with Washington and persuading the Biden administration to ramp up sanctions against a new Russian natural gas pipeline that bypasses his country.

** One of Noble Corp.’s three U.S. Gulf drillships that scrambled to evade Ida’s path faced hurricane-force conditions and survived. The Globetrotter II, which is leased to Royal Dutch Shell Plc for $275,000 a day for the next couple years, maintained stability throughout Ida’s passing and is operating on its own power with functional marine and safety systems, the Sugar Land, Texas-based company said Sunday in a statement.

** Forty-four freight ships are stuck awaiting entry into California’s two largest ports, the highest number recorded since the beginning of the COVID-19 pandemic, the Marine Exchange of Southern California reported over the weekend.

** Three protestors are convicted and fined for chaining themselves to a junked car fortified with concrete and steel to block the Mountain Valley Pipeline in Virginia.

** Federal Trade Commission Chair Lina Khan said the regulatory body would increase its enforcement of alleged collusion on fuel prices by oil and gas companies in a bid to prevent high fuel costs for consumers.

** The Biden administration plans to lower access costs for wind and solar development on federal lands in response to industry claims that leasing rates and fees are too high.

** Residents of Colstrip, Montana, sue the owners of a nearby coal plant and mine, alleging coal dust damaged their health and property.

%d bloggers like this: