With renewable energy projects finding capital faster than fossil fuels, Lake Region State College's Jay Johnson is training former oil workers for new careers working with wind turbines. According to Johnson, the skills for operating fracking derricks translate directly into the skills required for operating and maintaining wind turbines.
Cheniere Energy turned a $197 million profit during the second quarter, versus a $114 million loss a year earlier, while revenue rose 5% to $2.4 billion, all despite the wave of liquefied natural gas cargo cancellations due to the coronavirus outbreak. The company exported 78 cargoes during the quarter, down from 104 the same period last year, but it still earned $708 million from fees on canceled shipments.
Oil production from Alaska's North Slope region averaged 477,896 barrels per day last month, marking the largest volume for the month of July since 2013 and an increase from roughly 466,000 bpd a year earlier, according to data from the Revenue Department. ConocoPhillips, the top producer in the state, curtailed about 100,000 bpd of production for about six weeks in late May, but returned to normal operations in July.
Wyoming's rig count has dropped to zero for only the second time since 1884, according to Petroleum Association of Wyoming Executive Director Pete Obermueller, after workers closed the last active natural gas drilling rig this week. "It is historic, but not in a great way. There are so many jobs attached to these rigs, and now, people are painfully learning so much revenue is attached too," said Obermueller, whose organization estimates that each working rig supports jobs for 100 people.
HollyFrontier's 48,000-barrel-per-day refinery in Cheyenne, Wyo., has processed its last barrel of crude ahead of its planned conversion to a renewable diesel production plant, which should be complete in the first quarter of 2022. HollyFrontier expects crude runs at its refineries to average 340,000-370,000 bpd in the third quarter.
A new report from the Government Accountability Office has found that as many as 17 standards used by government agencies in the permitting process for liquefied natural gas export facilities are outdated. The government should review standards-specific regulations every three to five years and update them if necessary, the watchdog recommended.
Nineteen wind farms won contracts of up to 16.5 years to supply power under Ireland's Renewable Electricity Support Scheme in its first auction. The contracts still need to be approved by the government, but the Irish Minister for Climate Action and Environment Eamon Ryan said the auction will allow for rapid deployment of land-based wind projects.
Wood Mackenzie released a study on Tuesday that found increasing offshore wind leasing has the potential to bring in large capital investments between 2022 and 2035 -- $42 billion of which would be for wind turbine manufacturing and in the supply chain. "By not seizing this opportunity to demonstrate its unwavering commitment to offshore wind, the U.S. risks letting a once-in-a-generation economic development and clean energy opportunity slip through its fingers," said Brandon Burke, the policy and outreach director for Business Network for Offshore Wind.
The Ministry of New and Renewable Energy in India announced new guidelines requiring energy project developers to bundle wind and solar energy with thermal power to stabilize the energy grid. New projects must include at least 51% renewable energy.