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Keystone Pipeline leaks 210,000 gallons of oil in South Dakota

A total of 210,000 gallons of oil leaked Thursday from the Keystone pipeline in South Dakota, the pipeline's operator, TransCanada, said. Crews shut down the pipeline Thursday morning, and officials are investigating the cause of the leak, which occurred about three miles southeast of the town of Amherst, said Brian Walsh, a spokesman for the [...]

By | 2017-11-17T18:21:26+00:00 November 17th, 2017|

What If Big Oil’s Bet on Gas Is Wrong?

Talk to a Big Oil executive these days, and the chances are they’ll steer the conversation toward gas. “In 20 years, we will not be known as oil and gas companies, but as gas and oil companies,” Patrick Pouyanne, chief executive officer of French giant Total SA, told a conference in St. Petersburg last month. Patrick [...]

By | 2017-07-27T15:40:32+00:00 July 27th, 2017|

Authorities step up search for oil offshore Jamaica

The search for oil offshore southern Jamaica continues as a second series of exploration activities, specifically 2D seismic surveys, are expected to begin before the end of this week. The exploration activities, which are being underatken by Tullow Oil — an independent oil and gas exploration and production company based in the United Kingdom — [...]

By | 2017-03-25T16:29:54+00:00 March 25th, 2017|

Donald Trump Could Be OPEC’s New Best Friend

Last week, I wrote that OPEC needs friends and a miracle to re-balance the oil market. Could President Trump be that unwitting buddy, providing the miracle by tearing up the nuclear agreement with Iran and removing almost a million barrels a day of supply at a stroke? Trump's number one priority is to dismantle the "disastrous" [...]

By | 2016-11-14T16:42:16+00:00 November 14th, 2016|

Millions More! – Parliament To Be Asked To Approve New Oil Hedge

Governor of the Bank of Jamaica (BOJ) Brian Wynter and Financial Secretary Everton McFarlane have come out defending the costly 'insurance' Jamaica has taken out against oil prices as the expiration date nears and a new one is being prepared for Parliament's approval. Hedging is an investment position used to reduce substantial losses that could [...]

By | 2016-10-21T15:12:04+00:00 October 21st, 2016|

Nations agree landmark deal to cut HFCs, potent greenhouse gases

Representatives from nearly 200 member countries of the Montreal Protocol agreed on a deal to reduce emissions of powerful greenhouse gases at a summit Saturday in Kigali, Rwanda. The landmark deal will reduce the use of hydrofluorocarbons, or HFCs, the world's fastest-growing greenhouse gases, the UN Environment Program said in a statement. HFCs are potent [...]

By | 2016-10-17T02:08:12+00:00 October 17th, 2016|

OPEC Reaches Preliminary Accord To Curb Oil Production

Outside view of International Conference Center in Algiers, Algeria, where energy ministers from OPEC and other oil-producing countries are gathered to attend the opening session of the 15th International Energy Forum Ministerial meeting in Algiers, Algeria. OPEC nations reached a preliminary agreement on Wednesday to curb oil production for the first time since the global [...]

By | 2016-09-30T13:53:18+00:00 September 30th, 2016|

LNG Shipper Under Financial Pressure

Golar LNG, the company which secured a two-year contract to ship liquefied natural gas (LNG) to Jamaica, posted huge net losses, has a working capital deficit and its chief executive officer resigned last month. The shipping company continues to suffer from a slowdown of the LNG industry during a global oil price drop, symptomised by [...]

By | 2016-06-03T15:28:48+00:00 June 3rd, 2016|

Oil Prices Will Rise Again, Biden Warns Caribbean

United States (US) Vice-President Joe Biden has warned regional leaders that volatile oil prices will return. On this basis, he is urging them to use every opportunity to explore clean and alternative energy sources to bolster the prosperity of the Caribbean and Central America. "This is a moment of opportunity to turn that progress into [...]

By | 2016-05-17T21:26:33+00:00 May 17th, 2016|

Bogue Power Plant ready to use natural gas

The Jamaica Public Service Company Ltd (JPS) has officially concluded work to convert the Bogue Power Plant in Montego Bay, St James, to dual fuel capability. The plant is now able to use natural gas, as well as automotive diesel fuel, which it has been using since its commissioning in 2004. The work, which started [...]

By | 2016-05-11T15:00:43+00:00 May 11th, 2016|