NorthAmOil - North America Oil & Gas
Canada’s Cryopeak LNG Solutions has started construction on a small-scale LNG facility in Fort Nelson, British Columbia.
More capital expenditure cuts are being announced by US oil and gas companies, including some producers that are scaling back spending for a second time since oil prices collapsed in March.
Shipments of US LNG to China are resuming after Beijing has reportedly started granting tax waivers to certain importers of the super-chilled fuel.
Premier Oil will exit the Area A joint venture in which it partners with 88 Energy on Alaska’s North Slope after their Charlie-1 well encountered natural gas condensates but not the light oil that the partners were targeting.
Shale producer Whiting Petroleum has filed for bankruptcy protection in the wake of the oil price collapse, and many others are set to follow unless prices improve.
The unprecedented glut in global oil supply has tested storage capacity to the limits, driving the world’s biggest producers to negotiate a truce this year and curb their output.
Donald Trump said on April 2 that Russia and Saudi Arabia would be cutting their output, instead of continuing with a supply war that could result in hundreds of oil companies going out of business. The Kremlin denied his claim.
The Saudi-led oil glut leaves the energy transition and decarbonisation efforts hanging in the balance
US LNG producer Cheniere Energy has filed a request with federal regulators to begin service on its newly completed Midship pipeline from Oklahoma’s Anadarko Basin.