ND regulators launch Bakken recovery task force

: Crude oil, Natural gas
20/05/06

North Dakota state regulators have established a task force to facilitate the recovery of the oil and gas industry for the state.

The Bakken Restart Task Force, established by the Department of Mineral Resources, will work to support sectors affected by Covid-19 and rebuild the oil and gas industry.

Oil and associated gas production in the Bakken shale basin has fallen significantly as companies pull back on production because of significantly lower oil prices, which sank as a result of both the Covid-19 pandemic slashing demand and Saudi Arabia ramping up production amid a spat with fellow exporter Russia.

Last month the department announced expectations for production to fall based on a potential 50-75pc reduction in the Bakken shale rig count through June. The current rig count is 27, down by six rigs from a month earlier, with approximately 6,800 wells shut in.

The task force will focus on the long-term recovery of the regional oil and gas industry, along with regulatory agencies streamlining efforts and identifying economic stimulus projects or sources.

Action reports will be updated as the task force continues to review each area.

The Bakken shale basin includes 15 counties in North Dakota and five counties in Montana.

By Taylor Zavala

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24/12/03

Williams to sue Energy Transfer over gasline fight

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Argentina streamlines energy efficiency program

24/12/03

Argentina streamlines energy efficiency program

Montevideo, 3 December (Argus) — Argentina's government continues to fine-tune its energy efficiency program, eliminating red tape that slowed the import of appliances and machinery into the country. President Javier Milei's administration launched a new program in August to provide households and businesses with low-interest loans for energy efficiency. It has expanded the program to include more products and incentives. In late November, it announced a regulatory change for importing energy-efficient products, eliminating the need for performance testing, audits and other bureaucratic steps. Companies importing products now only have to provide an efficiency certification. The measure covers products from televisions for households to motors and pumps for businesses. The change is part of the government's efforts to deregulate the economy. It is juxtaposed to the president's skepticism for climate change. Milei eliminated the environment ministry and Argentina's delegation to the recent UN Cop 29 climate talks abruptly left the meeting. The change is part of the government's efforts to deregulate the economy to encourage investment and use of new technology. The government created in July the ministry of deregulation and state transformation and since then has eliminated hundreds of regulations, including more than 100 related to imports. The government has also eliminated more than 33,000 public sector jobs since Milei took office a year ago. "Any effort for energy efficiency has an immediate effect," said Nicolas Vizcaino, co-founder of Greempact, which creates energy-efficiency strategies for companies. "There is no excuse not to focus on efficiency." Greempact analyzes energy consumption data and other variables to create an energy baseline for clients. The data helps design strategies. Its strategies, which include changing technology, improving management and modifying production procedures, have helped some clients reduce consumption by more than 30pc, the company says. Vizcaino said efficiency is the key to the energy transition, because it not only saves a company money, but also has a positive impact on the entire system, from generation to distribution. "One megawatt of energy saved is less expensive and has a much greater impact than one megawatt of renewable energy added to a grid," he said. By Lucien Chauvin Send comments and request more information at feedback@argusmedia.com Copyright © 2024. Argus Media group . All rights reserved.

Industry wary of Trump tariffs on Canada, Mexico

24/12/03

Industry wary of Trump tariffs on Canada, Mexico

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Mexico central bank flags 2025 growth uncertainty

24/12/02

Mexico central bank flags 2025 growth uncertainty

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Brazil's Vale digs into wholesale gas market

24/12/02

Brazil's Vale digs into wholesale gas market

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