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Canadian Banks Ease Credit Rules for Energy Companies to Stave Off Defaults, Bankruptcies
April 21, 2020
Canadian banks are beginning to relax lending standards for energy firms struggling to operate with oil prices at half the level needed to cover costs, seeking to keep them afloat until the industry recovers from its deepest slump ever. Banks
US Trade Body Awards Grant to Accelerate India’s Use of Natural Gas, Improve Energy Access
April 21, 2020
A federal US trade body announced to award a grant to an Indian company to accelerate its use of natural gas and improve energy access to support economic growth. Under the grant, the US Trade and Development Agency (USTDA) will
U.S. Judge Cancels Permit for Keystone XL Pipeline from Canada
April 21, 2020
A U.S. judge canceled a key permit Wednesday for the Keystone XL oil pipeline that’s expected to stretch from Canada to Nebraska, another setback for the disputed project that got underway less than two weeks ago following years of delays.
DOE Selects Nine Companies to Store Crude Oil at Strategic Petroleum Reserve
April 20, 2020
The U.S. Department of Energy (DOE) has tapped nine U.S. companies to store their U.S. produced crude oil in the Nation’s Strategic Petroleum Reserve (SPR). Due to a combination of factors, including the drop in demand due to COVID-19 related
Energy Storage Association Seeks Federal Assistance Amid COVID-19 Impact
April 20, 2020
Energy storage in the United States has taken a hit since the spread of COVID-19, the U.S. Energy Storage Association (ESA) said in a survey released this week, with 63 percent of industry respondents expecting a decrease in revenues. Approximately
Virginia Governor Northam Signs Virginia Clean Energy Act
April 20, 2020
Virginia Gov. Ralph Northam signed the Virginia Clean Economy Act and is planning to have the state join the Regional Greenhouse Gas Initiative. “These new clean energy laws propel Virginia to leadership among the states in fighting climate change,” Northam
Democrats Argue Coronavirus Stimulus Should Not Bail Out Fossil Fuel Companies
April 20, 2020
More than 40 Democratic lawmakers are arguing that fossil fuel companies should not be able to receive any assistance under the coronavirus relief package passed by Congress last month. In a letter to Treasury Secretary Steven Mnuchin and Federal Reserve
Lonestar Resources Enters Into Eagle Ford Shale Joint Development Agreement
April 17, 2020
Lonestar Resources has entered into a joint development agreement (JDA) in Gonzales County with one of the largest producers in the Eagle Ford Shale which encompasses an area of mutual interest (AMI) totaling approximately 15,000 acres. The agreement calls for
Cheniere Commits More than $1,000,000 to Global COVID-19 Relief Efforts
April 17, 2020
Cheniere Energy has pledged more than $1 million to organizations that provide essential services to those most in need and at risk during the COVID-19 outbreak. Cheniere has made contributions to organizations in locations where the company has facilities or
Houston-based Yuma Energy Files for Chapter 11 Protection
April 17, 2020
Yuma Energy together with its subsidiaries, have filed voluntary Chapter 11 petitions for relief under the United States Bankruptcy Code in the U.S. Bankruptcy Court for the Northern District of Texas. The company plans to continue to operate its business
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