NorthAmOil - North America Oil & Gas
Cenovus sets out capex plan for 2021
Canada’s Cenovus Energy has unveiled its capital expenditure budget for 2021. The company said it would spend CAD2.3-2.7bn ($1.8-2.1bn) this year, while prioritising debt reduction.
Surge announces Midland Basin acquisition as other Asian firms exit shale
Surge Energy US Holdings announced on January 31 that one of its subsidiaries had signed a purchase and sale agreement (PSA) to acquire leasehold interest and producing wells from Grenadier Energy Partners II for $420mn.
Chevron, Reliance reportedly seeking partial roll-back of US sanctions on Venezuela
Chevron (US) and Reliance Industries (India) have reportedly asked the US government to lift some of the existing restrictions on trade with Venezuela.
Michigan approves underwater tunnel for Line 5
The Michigan Department of Environment, Great Lakes and Energy (EGLE) has approved the construction of the new underground tunnel that would house Line 5, which currently runs along the bottom of the Straits of Mackinac.
LOOP oil exports to Asia hit record highs
Crude exports from the Louisiana Offshore Oil Port (LOOP) – the only US port that can fully load very large crude carriers (VLCCs) – reached a new record in January.
Super-majors in the spotlight
US-based super-majors ExxonMobil and Chevron have been in the news as they announced their quarterly results and reports surfaced of abandoned merger talks between the two.
US open to easing Nord Stream 2 sanctions
The US may be prepared to enter talks with Germany on easing its sanctions on Nord Stream 2, signalling that the Biden administration may have resigned itself to the fact that the Russian pipeline will be completed.
Occidental delivers carbon-neutral oil cargo to India
Occidental Petroleum announced this week that its Oxy Low Carbon Ventures division had delivered a cargo of carbon-neutral crude oil to Reliance Industries Ltd (RIL) in India.
NextDecade abandons Galveston Bay LNG plan
US-based NextDecade announced last week that it had decided not to proceed with plans to develop its Galveston Bay LNG project on the Texas Gulf Coast.
NRG NorthAmOil: News of abandoned megamerger emerges amid earnings season
Oil and gas giants ExxonMobil and Chevron held preliminary talks to discuss a potential merger last year, it has emerged.
Baker Hughes predicts 3-4 LNG FIDs in 2021
Oilfield services firm Baker Hughes anticipates that 3-4 LNG export projects will be sanctioned this year as the industry recovers from the pandemic-related downturn.
Court ruling delivers mixed fortunes for Dakota Access
A US federal appeals court declined this week to shut down the Dakota Access pipeline, operated by Energy Transfer, but upheld a ruling from a lower court retroactively throwing out a decision that had allowed its construction.
Tellurian’s Souki urges industry to clean up its act
Tellurian’s co-founder and executive chairman, Charif Souki, has urged the oil and gas industry to do more to clean up its act.
Keystone XL’s demise boosts importance of other pipelines
US President Joe Biden’s cancellation of the cross-border permit for the Keystone XL pipeline last week means that other pipeline projects providing takeaway capacity from Canada’s oil sands have assumed greater importance.
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