EnergyU.S. waives shipping restrictions to ease fuel crunch after pipeline hack
Bhargav Acharya
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Holding tanks are seen in an aerial photograph at Colonial Pipeline s Dorsey Junction Station in Woodbine, Maryland, U.S. May 10, 2021. REUTERS/Drone Base/File Photo
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The U.S. government relaxed a long-standing maritime law protecting domestic shipping commerce to allow an undisclosed company to transport gasoline and diesel to ports in the East Coast after a cyberattack crippled the nation s largest fuel pipeline network.
The Jones Act, implemented in 1920, requires goods moved between U.S. ports to be carried by ships built domestically and staffed by U.S. crew. The waiver will allow foreign vessels to ship petroleum products from the Gulf Coast to East Coast ports in the United States.
EnergyEXCLUSIVE Biofuels processor POET in talks to acquire Flint Hills ethanol assets -companies
Stephanie Kelly
2 minute read
POET, the largest biofuels producer in the United States, is in discussions with Flint Hills Resources to acquire the entirety of Flint Hills ethanol assets, both companies told Reuters on Thursday.
The deal would increase POET s potential production capacity for ethanol by more than a third to 3 billion gallons per year, said Jessica Sexe, a spokeswoman for POET.
That could help the company tap into potential growth in the biofuels market as the Biden administration considers boosting biofuels as part of a broader strategy to decarbonize the nation s economy to fight climate change.
EnergyEXCLUSIVE Qatar pivots to LNG-hungry China in strategy shift
Muyu XuChen Aizhu
8 minute read
Qatar is in talks to make Chinese firms partners in its liquefied natural gas expansion project, the world s largest, in a shift from the Gulf state s reliance on western majors for technology and global outreach, industry sources said.
Since the early 1990s, Qatar has depended on international companies, including ExxonMobil (XOM.N), Royal Dutch Shell (RDSa.L) and Total (TOTF.PA), to help it to build its LNG industry. In exchange, the Western majors received lucrative long-term supply contracts.
But the U.S. shale gas revolution and increased focus on renewable energy as pressure mounts to tackle climate change has curbed the West s appetite for gas.
EnvironmentConocoPhillips shareholders back proposal to set Scope 3 targets
Reuters
2 minute read
The logo for ConocoPhillips is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid/File Photo
A majority of shareholders at U.S. oil and gas producer ConocoPhillips (COP.N) on Tuesday voted in favor of setting emissions reduction targets that include the use of the company s fuels.
Few U.S. producers have set so-called Scope 3 targets, which take into account greenhouse gas emissions from customers using the fuel they have purchased, although their European counterparts have done so.
Nigeria's state oil firm NNPC has picked 16 consortia for its new crude-for-fuel swap contracts for one year starting in August, sources with direct knowledge of the matter said.