Shell has reported it is participating as a sponsor and a judge in the Wendy Schmidt Oil Cleanup X CHALLENGE, a US $1.4 million competition designed to inspire a new generation of innovative solutions for oil spill cleanup technology, according to a press release. Wendy Schmidt, wife of Eric Schmidt, executive chairman of Google, is president of The Schmidt Family Foundation, which strives to advance the development of clean energy and support the better and more efficient use of natural resources. Shell’s decided to participate in the event last year after the Deepwater Horizon tragedy. Their participation includes: • Peter Velez, global emergency response manager at Shell International Exploration and Production, is the industry judge on the panel, which comprises officials from the USCG, MSRC, BOEMRE, among others. • Shell is paying for the technological components of the competition. • Shell will also help bring the winning technologies to market with other industry leaders. The competition was created by the X Prize Foundation, a non-profit organization that was founded in 1995 with the goal of encouraging investment in research and development by creating large-scale, high-profile competitions. According to the press release, 10 finalist teams from around the world have been chosen to test their equipment at the National Oil Spill Response Research & Renewable Energy Test Facility (OHMSETT) this summer in New Jersey, the largest outdoor saltwater wave/tow tank facility in North America.
Strong Earnings, Promising Outlooks for Enterprise, Magellan, Hess Midstream
2023-02-07 - In a strong earnings season, Enterprise surpassed $9 billion in EBITDA, Magellan beat earnings per share guidance and Hess Midstream weathered a tough winter to please investors.
BP Delivers Profits of $27.7 Billion in 2022
2023-02-07 - London-based BP Plc reported an underlying replacement cost profit of $27.7 billion in 2022 while reducing net debt to $21.4 billion and achieving an average return on average capital employed of 30.5%. In 2023, the company will remain focused on delivery of its financial frame underpinned by a $40/bbl balance point.
M&A Drives Crestwood Equity Partners Q4 Earnings
2023-02-23 - M&A activity drove Crestwood Equity Partner’s 2022 fourth-quarter earnings, but the company said it will not be a priority in 2023.
Exxon Set to Order 5th Guyana Oil Vessel, Sizing Up More Blocks
2023-01-17 - Since Exxon made Guyana's first offshore discovery in 2015, the South American country has become the world's fastest growing oil region, with estimates its fields could produce 1.64 MMbbl/d by the end of the decade.
CEO: Enbridge Building North American ‘Super System’ Through Investment, M&A
2023-03-15 - Calgary-based midstream giant Enbridge is investing billions to grow its oil and gas pipeline network and storage capacity, President and CEO Greg Ebel told Hart Energy.