NorthAmOil - North America Oil & Gas
US suspends SPR sale as lobbyists push to add cheap barrels to reserve
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 to scale back in Permian
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.
Berkshire Hathaway not to invest in Quebec LNG project
Warren Buffett’s Berkshire Hathaway has dropped plans to invest CAD4bn ($2.9bn) into an LNG project proposed for Saguenay, Quebec.
Oil price collapse a major threat to Canada’s oil producers
The collapse in crude prices is expected to hit Canada’s already struggling oil industry hard.
Russia, Saudi Arabia lock horns in zero-sum supply war
Trafigura, Phillips 66 partner on deepwater oil port project
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.
Sempra makes LNG progress
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.
Minnesota regulators issue draft permits for Line 3 replacement
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.
Tellurian struggles with market conditions
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.
Ottawa, BC, Wet'suwet'en chiefs reach tentative agreement over land rights
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.
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