NorthAmOil - North America Oil & Gas

Suncor, CNRL take steps to adapt to lower price environment

Suncor Energy and Canadian Natural Resources Ltd have both announced steps in recent days that they are taking to adjust to the collapse in oil prices.

ExxonMobil reportedly cutting production at Gulf Coast refineries

ExxonMobil has reportedly cut production at two of its refineries on the US Gulf Coast owing to weak demand.

Aker agrees to provide umbilicals for Chevron’s Gulf operations

Aker Solutions has entered into a master agreement to provide umbilicals for Chevron’s operations in the US Gulf of Mexico over a 20-year period, and will supply the super-major's Anchor project under its first work order.

Leading oilfield service firms unveil capex cuts

Schlumberger and Halliburton – the top two leading oilfield service firms globally – have both said they are cutting spending in response to the collapse in crude prices.

Chevron cuts 2020 capex budget by $4bn

US-headquartered super-major Chevron has said it is reducing its capex budget for 2020 by $4bn, or 20%.

Jordan Cove LNG receives federal approval, but state battle remains

The proposed Jordan Cove LNG facility has received its long-awaited federal regulatory approval, but operator Pembina still has a battle on its hands to ensure the project can go ahead.

US considers wading into Saudi-Russia supply war

Fitch cuts oil price outlook for 2020 from 62.5/bbl to $41/bbl on global recession fears

Fitch Ratings has cut its short and medium-term oil and natural gas price assumptions in expectation of very large market oversupply in 2020.

LNG Canada cuts workforce in half amid pandemic

The Royal Dutch Shell-led LNG Canada consortium and its engineering, procurement and construction contractor, JGC Fluor, said this week that they would stop flying workers to the terminal’s site in Kitimat, British Columbia.

Cheniere: no impact on LNG production from coronavirus precautions

Cheniere Energy, the leading US exporter of the super-chilled fuel, has said it does not expect the steps it has taken to protect its workers in the midst of the coronavirus pandemic to have an impact on its production.

North Dakota considers best way forward amid price collapse

North Dakota’s regulators and producers are evaluating their options for how to move forward amid a further oil price drop.

Wave of US capex cuts accelerates

More and more US oil companies are rapidly cutting back capital expenditure budgets in response to the collapse in oil prices.