4 Min Read
(Reuters) - Texas lawmakers on Thursday found themselves on the horns of a power market dilemma: expect lawsuits from utilities and traders if they retroactively cut cold-snap electricity prices, or “cascading bankruptcies” if they do not.
FILE PHOTO: An electrical substation is seen after winter weather caused electricity blackouts in Houston, Texas, U.S. February 20, 2021. REUTERS/Go Nakamura
The state’s grid operator sharply hiked power prices during a February freeze, pushing two power companies into bankruptcy and prompting others to default on bills. Officials this week called for regulator Public Utility Commission (PUC) of Texas to immediately reduce about $16 billion in power prices.
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HOUSTON, Feb 12 (Reuters) - U.S. oil refiner Citgo Petroleum Corp said on Friday its board elected Jose Pocaterra, its newest member, as chairman of its board of directors.
Pocaterra, a finance executive who joined the Citgo board a month ago, replaces former Chairperson Luisa Palacios, who stepped down in October and remained a director.
The new chairperson “brings more than 20 years of international experience in the financial, business and planning areas within the oil and gas industry,” said Carlos Jordá, Citgo’s chief executive.
The Houston-based company is owned by Venezuela, but its leadership split with the government of President Nicolas Maduro, whose 2018 reelection was widely denounced as a sham.
By Reuters Staff
3 Min Read
HOUSTON, Feb 3 (Reuters) - Major energy companies are turning their carbon sequestration technologies and projects into business ventures, converting some efforts that help pump more oil and gas into profit-making ventures while burnishing their environmental reputation.
The efforts could help big greenhouse gas emitters reduce their carbon emissions intensity and move closer to Paris Agreement climate change targets. Energy giants view these efforts as balancing customer demands for more oil and gas while fitting in a lower-carbon energy world.
Carbon removal technologies will be necessary to limit the increase in planetary warming to no more than 1.5 degrees Celsius, the goal of the 2015 Paris Climate Agreement, the United Nations has said.
2 Min Read
FILE PHOTO: Oct 20, 2020; Arlington, Texas, USA; Texas governor Greg Abbott looks on while in attendance for game one of the 2020 World Series between the Tampa Bay Rays and the Los Angeles Dodgers at Globe Life Field. Mandatory Credit: Kevin Jairaj-USA TODAY Sports
ODESSA, Texas (Reuters) - The top elected official of the largest U.S. oil and gas producing state on Thursday pledged to fight President Joe Biden’s executive orders that he claimed would undercut Texas energy production.
In a case of dueling executive orders, Texas Governor Greg Abbott authorized state agencies to bring legal challenges Biden’s policies. Biden on Wednesday unveiled a series of actions to combat climate change, including pausing new oil and gas leases on federal land and cutting fossil fuel subsidies.