Monday, 20 July 2026

Tradewater has bought Colorado-based Carbon Shield, adding well-plugging and methane mitigation projects across Colorado and Wyoming, according to World Oil.

The buyer first moved into orphaned oil and gas wells in 2023, running projects in Illinois, Indiana and Kansas since then, World Oil reported. Those projects have kept more than 1.6 million metric tons of carbon dioxide equivalent out of the atmosphere, the company said.

Chief Executive Kirsten Dueck said the deal lets the company "rapidly scale" its plugging work.

The company states a target of preventing more than 30 million metric tons of CO2-equivalent emissions by 2030.

Taylor Heffner, Carbon Shield's vice president of operations, moved to Tradewater under the deal.

More than 141,000 documented orphaned oil and gas wells sit across the country, with further undocumented wells thought to need remediation, according to the U.S. Environmental Protection Agency cited by World Oil.

TotalEnergies told investors its oil trading profit should hold at the strong level booked in the first quarter, which the company tied to market turbulence from war in the Middle East, according to Rigzone.

The integrated liquefied natural gas (LNG) division, which contributes about one fifth of group results, is set for a sharp drop as European demand stays weak, Rigzone reported.

Shares in Total dropped as much as 2.5% during Thursday trading and later recovered part of the decline, lagging BP and Shell in the early session, according to Rigzone.

The company put the hit from the Iran conflict at roughly 210,000 barrels of oil equivalent a day, less than the range it had signaled a quarter earlier, per Rigzone.

Cash flow from the integrated power arm should climb, helped by an end-of-April purchase of a 50% stake in a sizable set of gas-fired plants in western Europe, according to Rigzone.

Downstream earnings and cash flow are set to rise as firmer refining margins reflect tighter fuel supplies out of the Middle East and Russia, Rigzone reported.

Only 415 of more than 1,500 projects and programmes seeking to transition from the Clean Development Mechanism (CDM) to the new carbon market under Article 6.4 of the Paris Agreement won host government approval by the 30 June deadline, according to Climate Home News.

China and India, which host two-thirds of all applicants, declined to back any of their old UN carbon credit projects seeking to sell offsets under the new market, according to Climate Home News. That refusal drove a cull of nearly three-quarters of the applicant pool.

UN estimates cited by Climate Home News found that if all transitioning projects had been successful, they could have flooded the market with more than 900 million credits generated with largely outdated rules.

Brazil approved 92 projects during the extension window, giving it the largest number of activities still able to sell credits under the new mechanism, according to Climate Home News. All of its approvals came during that window.

The extension itself was agreed at COP30 in Belém, where countries pushed the approval deadline back six months to the end of June after requests from many developing countries, according to Climate Home News.

Injy Johnstone of the Max Planck Institute said the lack of transition is the biggest contribution Article 6 has made to climate yet, according to Climate Home News.

Mozambique granted approval on the deadline day itself to a project supporting the Ressano Garcia gas plant, according to Climate Home News. That project could still profit from the new market following the government's decision.

Unirac acquired the assets of Terrasmart from Gibraltar Industries for a reported USD 5 million, according to Solar Builder.

Unirac CEO Peter Lorenz called the acquisition a natural extension of the company's distributed generation (DG) platform, Solar Builder reported.

Terrasmart president Ed McKiernan has joined Unirac alongside other key members of the Terrasmart team, according to Solar Builder.

The Terrasmart brand has served the ground-mount, tracker, and canopy segments of the DG market across the United States, Solar Builder reported.

Weil, Gotshal & Manges LLP served as lead legal counsel and Koley Jessen served as legal counsel to Unirac, according to Solar Builder. Perella Weinberg Partners LP served as financial advisor to Gibraltar Industries, and Polsinelli PC served as its legal counsel.