NorthAmOil - North America Oil & Gas

7 May 2020

Texas regulator rejects output cut proposal

6 May 2020

The Railroad Commission of Texas, the state’s oil and gas regulator, has rejected a proposal to impose mandatory cuts to crude production.

Desperately seeking storage

6 May 2020

The North American oil industry is scrambling to find spare crude storage capacity as inventories continue to rise, and various companies in both the US and Canada are now trying to offer temporary storage solutions.

Freeport LNG Train 3 enters service

6 May 2020

The third train at the Freeport LNG export terminal on the Texas Gulf Coast has entered commercial service.

More pain, little gain for super-majors

6 May 2020

ExxonMobil has reported its first quarterly loss in 32 years, while Chevron has announced a further cut to its 2020 capex budget.

Shell strikes deal to exit Appalachian Basin

6 May 2020

Royal Dutch Shell announced this week that it has agreed to sell its Appalachian Basin shale gas assets in Pennsylvania, in a deal that will mark its exit from the region.

Cheniere reports first-quarter profit, but moderates growth forecast

30 April 2020

Cheniere Energy, the US’ leading exporter of LNG, reported this week that its net income in the first quarter of 2020 reached $375mn, but warned that it had experienced an increase in the number of cargo cancellations by customers.

Hopes for resilience of LNG demand

30 April 2020

The COVID-19 pandemic is hitting many industries, including LNG, but there are hopes that demand for the fuel will stay resilient despite being dented in the short term.

NGPL declares force majeure on Sabine Pass gas flows following storms

30 April 2020

Natural Gas Pipeline Co. of America (NGPL), a subsidiary of Kinder Morgan, said on April 29 that gas transport to the Sabine Pass delivery point was temporarily suspended after “severe” storms damaged the pipeline.

Dispute between Enbridge and certain shippers continues

29 April 2020

The fight between Canada’s Enbridge and some of the shippers on its Mainline system continues, with two producers accusing it of behaving like a monopoly in letters filed with the Canada Energy Regulator.

Diamond Offshore files for bankruptcy protection

29 April 2020

Houston-based Diamond Offshore Drilling filed for Chapter 11 bankruptcy protection on April 26 in an illustration of the threat low oil prices represent to the industry.

Cuts continue in Canada, but one bright spot emerges

29 April 2020

Canadian energy companies continue to cut spending and production, but dry gas producers could benefit as associated gas output drops.

ExxonMobil modifies operations to make hand sanitiser

29 April 2020

ExxonMobil announced last week that it had reconfigured its manufacturing operations in Louisiana to make medical-grade hand sanitiser for donation to coronavirus response efforts in several US states.

Continental reportedly halts most shale production, seeks to cancel deliveries

29 April 2020

Continental Resources, one of the US’ pioneering shale producers, has reportedly halted most of its production in North Dakota’s Bakken play and is seeking to cancel at least some contracted oil deliveries.

BP revises terms of Alaska asset sale

29 April 2020

Super-major BP has reaffirmed its commitment to closing the sale of its Alaska business to Hilcorp Energy, but said that the two companies had renegotiated the financial terms of the deal in response to the current market volatility.