NorthAmOil - North America Oil & Gas
ConocoPhillips, the largest oil producer in Alaska, has reaffirmed a plan to cut output by around 100,000 barrels per day in the state in June, which comes despite flows on the Trans-Alaska Pipeline System being ramped back up.
Calgary-based Enbridge has proposed raising the tariff rates on its Express and Platte crude pipelines, which carry Canadian oil to points in the US.
Canada’s TC Energy has completed the sale of a 65% stake in the Coastal GasLink pipeline, which it is building in British Columbia.
The proposed Alaska LNG project has obtained federal authorisation to proceed, though the approval comes at a particularly challenging time for the LNG market, which threatens to derail new projects.
The Marcellus shale has edged out the Permian Basin as the top destination for hydraulic fracturing crews, according to investment advisory firm Tudor, Pickering, Holt & Co.
Canada’s oil industry is hoping for a resurgence of mergers and acquisitions, but only expects it to come after the world succeeds in rebounding from COVID-19.
Producers and investors remain cautious, as the coronavirus pandemic continues to affect energy demand, but are starting to plan for the post-crisis period.
The number of cancelled US LNG cargoes is reported to be on the up, but this comes as more LNG from the US is reaching China after shipments between the two recently resumed.
Shale driller Continental Resources has called on North Dakota’s energy regulators to intervene as the oil industry struggles to survive the coronavirus (COVID-19) pandemic, which has exacerbated an existing oversupply.
Shell Canada – a division of Royal Dutch Shell – and Pieridae Energy are set to engage in a second attempt to transfer licences after the first was blocked by the Alberta Energy Regulator.
Oilfield services firm Halliburton has said that it is slashing its dividend from $0.18 per share in the first quarter of 2020 to $0.045 per share in the current quarter.
Presumptive US Democratic presidential nominee Joe Biden has said that he would cancel the approval granted to the Keystone XL pipeline from Canada if he beats US President Donald Trump in November’s election.
US-based NextDecade has confirmed that it will delay its final investment decision on the Rio Grande LNG project, proposed for the Port of Brownsville, Texas, until 2021.
Much has been made of the troubles faced by Canada’s oil sands producers, but the country’s offshore industry is also struggling for survival.