NorthAmOil - North America Oil & Gas
Private equity firm Waterous Energy Fund announced last week that it was upping its offer for a stake in Osum Oil Sands, and Osum's board has withdrawn its recommendation that shareholders reject the all-cash offer.
Leading US LNG producer Cheniere Energy posted a net loss of $194mn for the fourth quarter of 2020, down from a net profit of $939mn in the fourth quarter of 2019, but up on a loss of $463mn in the third quarter of 2020.
Canada’s TC Energy has reported a net profit attributable to common shares of CAD1.124bn ($890mn) for the fourth quarter of 2020, and has flagged up what it sees as opportunities to grow its natural gas and power and storage businesses.
The US federal government announced on 22 February that it will back the domestic ethanol industry regarding controversial waivers given to oil refineries who were being told to blend biofuels into their petrol.
Occidental Petroleum told buyers this week that it would be forced to curtail deliveries of crude owing to disruption resulting from extremely cold weather in Texas.
GAIL (India) has unveiled plans to stop selling the LNG it sources from the US in international markets, instead selling it locally from 2023.
Shale producers including Continental Resources, Devon Energy and Ovintiv released their results for the fourth quarter of 2020 this week. However, others including Occidental Petroleum and Pioneer Natural Resources rescheduled the release of theirs.
Mexico has suffered gas and electricity shortages since harsh weather interrupted pipeline deliveries.