(Energy Analytics Institute, 11.Feb.2022) — Energy briefs including Stuart Young, Trinidad and Tobago''s head at the Ministry of Energy and Energy Industries meeting with corporate executives at BP, Shell and Lightsource BP about the Project Lara; and Texas-based Exxon''s commenting on carbon capture and storage (CCS); and more.
— Ecuador''s national gov''t continues to push for an oil policy that strengthens the country''s hydrocarbon value chain through increased production while attracting investments that "generate economic resources for the benefit of Ecuadorians," state owned EP PetroEcuador said 11 Feb. 2022 over social media.
— ExxonMobil and partners Hess and CNOOC commenced production offshore Guyana at their second development (Liza Phase II). Production from Liza Unity FPSO vessel is expected to reach 220,000 b/d in late 2022, Exxon said 11 Feb. 2022 in an official stmt. The accelerated development will have potential to lift Guyana''s production capacity to more than 340,000 b/d seven yrs after a first discovery in Stabroek Block was announced in 2015. At this moment, 3,500+ Guyanese citizens provide support to ExxonMobil''s activities in Guyana, the co. said.
RELATED STORY: ExxonMobil’s Second Development Starts Operations Offshore Guyana
— Stuart Young, head of Trinidad and Tobago''s Ministry of Energy and Energy Industries (MEEI) plans to meet w/ corp. execs to discuss Project Lara. "This morning I will be meeting with BP, Shell and Lightsource BP to negotiate and hopefully finalize Project Lara our two solar projects which will produce 112.2 MW of electricity," minister Young said 11 Feb. 2022 over social media.
RELATED STORY: Caribbean Sustainable Energy Conference: Day 1 Highlights
— Exxon said 11 Feb. 2022 in an official stmt over social media that carbon capture and storage (CCS) can capture more than 90% of industrial CO2 emissions. That means 10% is not being captured.
— Dominion Energy (NYSE: D) reported 4Q:21 earnings of$1.3bn($1.63/shr) vs a net gain of$682mn($0.82/shr) in 4Q:20.Operating earnings for 4Q:21 were$752mn($0.90/shr) vs operating earnings of$672mn($0.81/shr) for 4Q:20, the co. announced 11. Feb. 2022 in an official stmt. For the YE:21, reported earnings were a net gain of$3.3bn($3.98/shr) vs a net loss of$401mn($0.57/shr) for YE:20. Operating earnings for YE:21 were$3.2bn($3.86/shr) vs operating earnings of$3bn ($3.54/shr) for YE:20.
Energy Analytics Institute (EAI), formerly LatinPetroleum (dba LatinPetroleum ), is a Houston-established private organization with a satellite presence in Calgary and Mexico City. Since 1999, EAI has been a leader in energy news coverage of Latin America in particular. Coverage, run out of Latin America, now spans the world and encompasses nearly all energy and energy-related sectors.
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(bpTT, 24.Jan.2022) — bpTT is aiding Trinidad and Tobago''s energy transition through its support for this country''s first Carbon Capture and Storage (CCS) mapping project.
bpTT has committed $340,000 to the CCS Storage Atlas project which is jointly led by the University of the West Indies and University of Trinidad and Tobago and seeks to map underground sites that can be used to store captured carbon dioxide. These include depleted hydrocarbon reservoirs both onshore and offshore. The project will form the foundation for assessing the feasibility of using carbon capture and storage as a solution to significantly reduce Trinidad and Tobago''s carbon emissions. Apart from funding, bpTT''s support for the project includes technical support and access to reservoir data.
CCS technology captures CO2 generated from the production or processing of natural gas and safely stores it in reservoirs underground.CCS could play an important role in helping T&T meet its global commitments aimed at reducing greenhouse gas emissions. It is also complementary to the development of a hydrogen industry.
Recent International Panel on Climate Change (IPCC) reports have concluded that ambitious goals, far above the current commitments, are needed to meet emission reduction targets. CCS has been identified as one of the technologies that is critical to realizing this objective. CCS technologies can offset the carbon footprint of fossil fuel consumption while the world transitions towards greener sources of energy.
Giselle Thompson, vice president corporate operations said: "bpTT is committed to working with industry stakeholders and the government to identify pathways for T&T to transition to a low carbon future and we are excited by this project. Carbon Capture and Storage can play a crucial role in helping Trinidad and Tobago to reduce carbon emissions and keeping our energy exports globally competitive."
Photo caption: Professor Brian Copeland, Pro Vice-Chancellor and Campus Principal, UWI signs the agreement commemorating bpTT''s support for T&T''s first Carbon Capture and Storage (CCS) mapping project. The project is jointly led by the University of the West Indies and the University of Trinidad and Tobago, with financial and technical support from bpTT. Also taking part in the signing are, from left, Wail Shaheen, vp subsurface, bpTT; Giselle Thompson, vp communications and advocacy, bpTT; and Professor Prakash Persad, President, UTT.
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