NorthAmOil - North America Oil & Gas

Biden announces largest SPR release yet

US President Joe Biden has announced the largest ever release of crude from the country’s Strategic Petroleum Reserve in a bid to lower oil prices.

Vermilion to acquire Leucrotta in $382mn deal

Calgary-based Vermilion Energy announced on March 28 that it would acquire Leucrotta Exploration in a deal valued at CAD477mn ($382mn).

ExxonMobil considers expanding gas-to-bitcoin pilot to four countries

ExxonMobil is reportedly considering expanding its North Dakota gas-to-bitcoin pilot to Alaska, and internationally to the Qua Iboe terminal in Nigeria and Argentina’s Vaca Muerta shale play, as well as fields in Guyana and Germany.

Fire at ExxonMobil’s Montana refinery shuts down processing units

A fire broke out at ExxonMobil’s Billings refinery near Lockwood, Montana on March 26, forcing several processing units at the plant to be shut down.

Chinese buyers turn to next wave of US LNG projects for supply deals

New supply deals have been struck in recent days between Chinese buyers and developers of yet-to-be-built US LNG export terminals.

Shell starts production at PowerNap project in Gulf

Shell announced on March 29 that it had started production at the PowerNap project in the US Gulf of Mexico.

Tellurian starts construction on Driftwood LNG

US-based Tellurian announced on March 28 that it had kicked off construction on its Driftwood LNG terminal on Louisiana’s Gulf Coast.

OPEC+ kicks off meeting with focus on supplies

Trudeau unveils C$9.1 bn plan to meet 2030 carbon targets

Canada has unveiled a multi-billion dollar plan to cut carbon emissions, including a clean electricity standard (CES). The plan, presented by Prime Minister Justin Trudeau, includes C$9.1bn ($7.3bn) in new spending to meet carbon emissions.

NorthAmOil: Shell starts production at PowerNap project in Gulf

Shell announced on March 29 that it had started production at the PowerNap project in the US Gulf of Mexico.

NextDecade, Guangdong Energy sign HoA for LNG supply

US-based NextDecade announced on March 24 that it had signed a binding heads of agreement (HoA) with China’s Guangdong Energy for the supply of LNG from a planned facility on the US Gulf Coast.

US steps up efforts to supply more LNG to Europe

The US has taken further steps to help send more LNG to Europe to replace Russian gas, but its capacity to significantly ramp up exports of the fuel remains limited.