It’s Thursday at The Nightly. This reminds me of the “It’s morning in America” thing Ronald Reagan used for his re-election campaign… minus the election, Reagan, and trouble in Russia. Wait… okay, so minus 2 out of 3. Point is, Thursday is always one of the biggest days of the week in the oil & gas biz. It makes the top 7 each time. So before I make even less sense. Let’s get to what you want more of. The latest in the oil & gas biz. Here it be:
$1-billion Overhaul Up For Jamaican Refinery
Yeah, mon! Feels good to write that… say that. “Yeah, mon!” See what I mean!?
The Venezuela and Jamaica governments have finished up an agreement to start undertaking the expansion and modernization of their Petrojam Ltd. refinery in Kingston, Jamaica.
As part of the agreement, the refinery will also increase its reception and processing of Venezuelan heavy crude—which right now imports most of its crude from Venezuela and Mexico.
I’ve never been to Jamaica, but I stand with Jamaica and it’s not because a good friend of mine owns a marijuana store in Cali. It’s because a family member of mine owns a marijuana store in Cali.
Norway’s Energy Sector Bouncing Back From Record Lows
How about some love for Norway? I’ve never heard anyone say a negative thing about Norway. And how can you not love a place that had a king named “Cnut The Great”?!?!
Norway, a main oil and gas producer and one of the central suppliers to the European economy, outside of Russia is expected, according to its government, to get a slight increase in investments.
Despite the downturn of short-term oil and gas production, the government says that the output for 2016 was higher than 2015. #SilverLining!
As for 2017, the government said investments in oil & gas extraction, as well as pipeline transport, were predicted to come in at around $17.8 billion, which is close to 2% higher than prior estimates.
Somewhere Cnut The Great is smiling proud.
New Exxon CEO Says Carbon Tax Could Combat Climate Change
In his first blog post since succeeding Rex Tillerson, Darren “Not Out Of The Woods”, the new head of Exxon Mobil Corp. spoke of climate change, calling for a carbon tax to discourage use of polluting fuels.
Above all else, I love that the CEO of Exxon has a blog. Makes me feel safe. Early on, it’s easy to say that I’m a fan of Mr. Woods. He may bring greatness back to the name a guy named “Tiger” once owned.
Woods said a revenue-neutral carbon tax “would promote greater energy efficiency and the use of today’s lower-carbon options, avoid further burdening the economy, and also provide incentives for markets to develop additional low-carbon energy solutions for the future.”
Go, Darren! Go, Darren! Go, Darren! (Imagine if that was being done with me surrounded by my “get hype” crew and we all had our fists in the air, and there were some energetic laps and “Uh-Huh’s!” thrown in as well. Okay… you don’t have to imagine that… at all.)
Woods also said:
“Low-emission fuels such as natural gas, carbon capture and biofuels will play important roles in helping nations meet the Paris climate accord.”
Boom. El Finito! ATK has the baton from here. We can always count on him to, like a warm cup of joe or a pitcher throwing a no-hitter, hit all the right spots with his Morning Surge. Until Friday my good people… Night night.