Page 15 - NorthAmOil Week 04 2023

NorthAmOil NEWS IN BRIEF NorthAmOil

UPSTREAM DOWNSTREAM and contributing to a lower-emission energy
future for our employees, neighbours and
Murphy Oil announces Imperial approves communities.”
The renewable diesel project was first
fourth-quarter and full-year CAD720mn for largest announced in August 2021, with the
Province of British Columbia supporting
2022 results, preliminary renewable diesel facility in this project through a Part 3 Agreement
under the BC low-carbon fuel standard. A
year-end 2022 reserves, Canada significant portion of the renewable diesel
from Strathcona will be supplied to British
2023 capital expenditure Imperial said today it will further help Canada Columbia in support of the province’s plan to
achieve its net zero goals by investing about
lower carbon emissions. Imperial also intends
and production guidance CAD720mn ($560mn) to move forward to use renewable diesel in operations as part of
with construction of the largest renewable
the company’s emission reduction plans.
Murphy Oil today announced its financial diesel facility in the country. The project at Imperial’s renewable diesel facility will
and operating results for the fourth quarter Imperial’s Strathcona refinery near Edmonton use low-carbon hydrogen produced with
ended December 31, 2022, including net is expected to produce more than one billion carbon capture and storage technology to help
income attributable to Murphy of $199mn, or litres of renewable diesel annually primarily Canada meet low emission fuel standards.
$1.26 net income per diluted share. Excluding from locally sourced feedstocks and could Imperial has entered into an agreement with
discontinued operations and other items help reduce greenhouse gas emissions in the Air Products for low-carbon hydrogen supply
affecting comparability between periods, Canadian transportation sector by about and is developing agreements with other
adjusted net income attributable to Murphy 3mn metric tonnes per year, as determined third parties for biofeedstock supply. The
was $173mn, or $1.10 adjusted net income per in accordance with Canada’s Clean Fuel low-carbon hydrogen and biofeedstock will
diluted share. Regulation. Regulatory approval for the be combined with a proprietary catalyst to
For the full year 2022, the company project is expected in the near term. produce premium lower-emission diesel fuel
recorded net income attributable to Murphy “Imperial supports Canada’s vision for a and will reduce greenhouse gas emissions
of $965mn, or $6.13 net income per diluted lower-emission future, and we are making relative to conventional fuels.
share. Murphy reported adjusted net strategic investments to reduce greenhouse Site preparation and initial construction
income, which excludes both the results of gas emissions from our own operations are underway. Renewable diesel production
discontinued operations and other items and to help customers in vital sectors of the is expected to start in 2025. The project
affecting comparability between periods, of economy reduce their emissions,” said Brad is expected to create about 600 direct
$881mn, or $5.59 adjusted net income per Corson, Imperial chairman, president and construction jobs, along with hundreds more
diluted share. chief executive officer. “The investment at our through investments by business partners.
MURPHY OIL, January 26, 2023 Strathcona refinery will deliver immediate IMPERIAL, January 26, 2023
benefits to the local economy creating jobs
Arroyo invests in integrated

shore-side LNG liquefaction

and bunkering platform in
the US

Arroyo Investors, a Houston-based,
independent investment manager focused
on power and energy infrastructure assets
throughout the Americas, today announced it
has recently closed an investment in Seaside
LNG and its affiliated entities, an integrated
shore-side LNG liquefaction and bunkering
platform in the US.
The company owns interests in two
separate operating businesses: (A) a 50%
ownership interest in JAX LNG, a small-scale
(360,000 gallons per day) LNG liquefaction
facility operating two trains in Jacksonville,
Florida; and (B) a 100% ownership stake in
an LNG bunkering barge operation through
Polaris New Energy.
“We believe this investment represents
a differentiated opportunity for Arroyo to
own and operate infrastructure assets that

Week 04 26•January•2023 www. NEWSBASE .com P15