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Blackstone open to Cheniere affiliate stake bids; emissions in RGGI states drop

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Blackstone open to Cheniere affiliate stake bids; emissions in RGGI states drop

Top News

Blackstone may entertain offers for Cheniere Energy Partners stake, exec says

Private equity firm Blackstone Group views its foundation investment in the Cheniere Energy Inc. affiliate that owns and operates the Sabine Pass LNG export terminal as a mission accomplished, and the group is open to moving on, the chief of Blackstone's energy-focused business said.

Report finds power plant emissions in RGGI states declined 47% over last decade

New England and mid-Atlantic states participating in the Regional Greenhouse Gas Initiative have experienced a steep decline in carbon dioxide emissions from power plants over the past decade, and the cap-and-trade program has been a key driver of those cuts, according to a new report.

Well-stocked oil market negates need for IEA action on Saudi disruption

The recent attacks on Saudi Arabian oil facilities highlights the vulnerability of global crude oil production and underscores the need for vigilance even as the market remains well supplied, the International Energy Agency's executive director Fatih Birol said Sept. 18.

Court approves deal allowing Kopper Glo to buy 2 Blackjewel coal operations

A federal bankruptcy court gave Blackjewel LLC the go-ahead to sell two of its Appalachian coal operations to Tennessee-based Kopper Glo Mining LLC.

Quoted

"Youth climate activism should not have to exist. We're exhausted because we have tried everything," said Jamie Margolin, a 17-year-old climate justice activist from Seattle, testifying before a joint hearing by the House Select Committee on the Climate Crisis and the House Committee on Foreign affairs.

Power

* Federal Energy Regulatory Commission member Richard Glick said he will not seek a waiver to participate before Nov. 29 in matters involving former employer Avangrid Inc., effectively stalling a decision from FERC on the PJM Interconnection's proposed capacity market overhaul.

* Connecticut regulators approved 10-year power purchase agreements to keep Dominion Energy Inc.'s Millstone nuclear power plant open for the next decade. The buyers of the plant's output are Eversource Energy and United Illuminating Co.

* Central Maine Power Co. has requested to change the route of its proposed New England Clean Energy Connect transmission line to avoid a protected pond. The rerouting will add $950,000 to the overall cost of the project.

* Dominion Energy North Carolina has agreed to lower its proposed revenue requirement by at least $13.5 million in a partial settlement agreement reached with the public staff of the North Carolina Utilities Commission.

* Every grid in the U.S., except the one operated by PJM Interconnection, is going green, according to Bloomberg News. Although PJM sees a lot of renewable applications, it's in an area that is also home to abundant natural gas reserves.

* U.S. Energy Secretary Rick Perry told Saudi Arabia that the kingdom needs to forgo uranium enriching to secure a nuclear-technology-sharing deal with the U.S., Bloomberg News reported.

* NRG Energy Inc. continues to expand in the retail energy space with the acquisition of American Light & Power's customer accounts, the Houston Chronicle reported. Financial terms of the deal were not disclosed.

Natural gas

* India's Petronet LNG Ltd. is identifying the volumes that it would take as part of a proposed investment in Tellurian Inc.'s Driftwood LNG export project, which continues to attract commercial support, Tellurian CEO Meg Gentle said in an interview at an industry conference in Houston.

* The bonds held by the U.S. Bureau of Land Management are not sufficient to prevent orphaned oil and gas wells, according to the U.S. Government Accountability Office. In its report, GAO recommended that the BLM adjust bond amounts to better reflect the costs of cleanups.

* Oil and gas industry executives expect flaring events — the controversial practice of burning off associated natural gas to enable oil production growth — to increase with Permian Basin oil production, and some industry leaders worry the practice could grow at an unsustainable pace given the lack of economic or regulatory incentives curbing the practice.

* There is a dramatic increase of natural gas leaks from aging pipelines in Baltimore, with utility Baltimore Gas and Electric Co. discovering on average nearly two dozen each day, The Baltimore Sun reported.

Oil

* The U.S. Energy Information Administration reported a build in U.S. crude oil and petroleum stockpiles in the week to Sept. 13.

* Security analysts former U.S. officials warn that critical petroleum infrastructure in the Middle East "remains vulnerable" to future attacks, The Wall Street Journal reported.

* JPMorgan Cazenove reported ratings affirmations and changes for several European oil majors, citing projections for stronger crude prices and improved returns, although the pace of their decarbonization efforts may be slower than expected.

* Saudi Arabian Oil Co. is in discussions with Saudi Arabia's Capital Market Authority over regulatory requirements for its proposed initial public offering, according to Reuters.

* U.S. President Donald Trump is set to meet with a group of senators today to discuss possible changes to the renewable fuel standard, the office of U.S. Sen. Bill Cassidy, R-La., said.

Coal

* A federal district court denied a coal producer's motion for summary judgment, ruling in favor of a coal miners' union in a case determining what constituted "construction" at a mine site.

* Contura Energy Inc. announced that it has entered into an agreement with an affiliate of FM Coal LLC interested in acquiring and operating the Eagle Butte and Belle Ayr coal mines in the Powder River Basin, a deal that may release Contura from all bonding, reclamation and operational liabilities pertaining to the mines.

* Wyoming Gov. Mark Gordon has reached out to the Mexican government over possible coal exports, the Casper (Wyo.) Star-Tribune reported.

* India is preparing to seek bids for coal mining blocks from global firms before the the end of this year, Reuters reported, citing sources close to the matter.

ChartWatch

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The apparent short-term nature of the disruption to global oil supplies stemming from an attack on Saudi Arabia's crude oil infrastructure could leave some investors reluctant to put their money into oil and gas stocks.

New from RRA

* As part of a court-ordered remand, the Washington Utilities and Transportation Commission staff and the Public Counsel section of the Washington Office of the Attorney General filed testimony recommending significant refunds for Avista Corp.'s electric and gas customers. The staff calculates a refund totaling about $43 million, and the attorney general calculates a refund totaling about $41 million.

The day ahead

* The U.S. Energy Information Administration natural gas storage report is due out today.

* Early morning futures indicators pointed to a lower opening for the U.S. equity markets. To view more SNL equity market indexes, click here. To view more SNL Energy commodities prices, click here.

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Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.

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