NorthAmOil - North America Oil & Gas

Exxon Mobil submits arbitration awards for Citgo shares to US court against Venezuela

Exxon Mobil has submitted arbitration awards against Venezuela to a US court. The company's major oil ventures were expropriated and nationalised in 2007 by then-President Hugo Chavez, a move that led to protracted arbitration proceedings.

Suncor CEO indicates intention to re-focus on oil

Suncor Energy’s CEO, Rich Kruger, said this week that the company has been too focused on the energy transition in recent years and needs to re-focus on an oil-centred business strategy.

Occidental agrees to buy Carbon Engineering for $1.1bn

A subsidiary of Occidental Petroleum has struck a deal to acquire direct air capture technology player Carbon Engineering.

Unravelling the controversial decision: Alberta's renewable energy moratorium

Alberta, the largest oil and gas producing province in Canada, is facing pushback after imposing a seven-month halt on new wind and solar projects.

Woodfibre LNG moves ahead with construction of modules

Woodfibre LNG, a unit of Singapore-based Pacific Energy, has announced that it has given approval to a Chinese fabrication plant to commence building the 19 modules that will comprise the CAD6.8bn ($5.1bn) LNG facility.

NorthAmOil: Tourmaline joins Ksi Lisims LNG project

Southwestern’s earnings down 80% y/y

Southwestern Energy announced last week that its net income for the second quarter of 2023 totalled $231mn, and came in at $95mn on an adjusted basis. This represents an 80% year-on-year decline in net income from $1.17bn a year ago.

Chevron signs MoU with Cummins on lower-carbon fuels, completes PDC acquisition

Supermajor Chevron announced this week that it had signed a memorandum of understanding with Cummins to “leverage complementary positioning in hydrogen, natural gas and other lower-carbon fuel value chains”.

Cedar LNG partners push back targeted FID date

The partners in Canada’s Cedar LNG project, the Haisla Nation and Pembina Pipeline, have pushed back the target date for a final investment decision on the project to the fourth quarter of this year.

Tourmaline joins Ksi Lisims LNG project

Canada’s Tourmaline Oil announced last week that it had joined Rockies LNG Partners, the group developing the proposed Ksi Lisims LNG project on the British Columbian coast.

Talos makes Gulf discovery with Sunspear

Talos Energy said in its second-quarter earnings release this week that it had made a discovery at its Sunspear prospect in the US Gulf of Mexico.

Preparing for Trans Mountain expansion’s start-up

The Trans Mountain pipeline expansion is nearing start-up and trying to clear some final hurdles, after which the Canadian government faces the challenge of trying to sell the project