NorthAmOil - North America Oil & Gas
The US Department of Energy has suspended a planned sale this week of up to 12mn barrels of crude from the country’s Strategic Petroleum Reserve.
ExxonMobil unveiled plans last week to reduce the number of rigs it operates in the US’ prolific Permian Basin. The announcement notably came before the collapse of the OPEC+ talks sent crude prices tumbling.
Warren Buffett’s Berkshire Hathaway has dropped plans to invest CAD4bn ($2.9bn) into an LNG project proposed for Saguenay, Quebec.
The collapse in crude prices is expected to hit Canada’s already struggling oil industry hard.
Commodity trader Trafigura and Phillips 66 announced on February 28 that they had formed a 50:50 joint venture to develop an deepwater port offshore Texas.
US-based Sempra Energy is making progress at both its existing Cameron LNG export project in Louisiana and its planned Port Arthur facility in Texas.
The Minnesota Pollution Control Agency has issued three draft permits that are required by Canada’s Enbridge to build the Line 3 oil pipeline replacement project.
Weakening LNG demand is weighing on US LNG developer Tellurian, with two pieces of unwelcome news for the company being announced in the past week.
The Canadian and British Columbia governments have reached a tentative agreement with hereditary chiefs of the Wet'suwet'en First Nation to acknowledge land title rights, in a step forward in a dispute relating to the Coastal GasLink pipeline.