NorthAmOil - North America Oil & Gas
US court overturns ruling on Citgo bonds, mandates Venezuelan law application
A US appeals court on July 3 overturned a previous ruling that allowed bondholders to stake claims against Venezuela’s state-owned oil company, PDVSA, and its US refining subsidiary, Citgo, directing the lower court to apply Venezuelan law.
Several competitive bids in Citgo auction, final hearing is September 19
Several competitive bids were received in June by a US federal court for the refiner Citgo Petroleum’s parent PDV Holding.
US Senate probes alleged collusion between Big Oil, OPEC
A US Senate committee is probing whether there was illegal collusion between major US oil firms and the OPEC cartel.
Deer Park refinery delivers record profits for Pemex
Pemex has reported record profits from its Deer Park refinery, marking the highest gains in 16 years since the acquisition.
Canada’s Wolf Midstream unveils $731mn expansion of its NGL North System
Wolf Midstream has announced a positive final investment decision to proceed with its NGL North Phase Two project, which will significantly increase the natural gas liquids production capacity of Wolf's existing NGL North System.
Canadian crude shipped to Asia via California
A potentially cheaper journey for heavy oil sands crude is from British Columbia to Asia via California, report Bloomberg. This is because only smaller tankers can dock in Vancouver in British Columbia.
Canada’s oil sands are back in the limelight, says Enverus
Assets in Canada’s oil sands now represent nearly 40% of North America’s sub-$50 West Texas Intermediate (WTI) breakeven oil, said Enverus Intelligence Research (EIR).
SM Energy unveils $2bn Uinta basin acquisition
Spain’s Repsol may sell minority stake in Eagle Ford oil assets
Repsol is seeking to sell a minority interest in its Eagle Ford assets in south Texas.
Final member of panel selected for ExxonMobil-Chevron arbitration
The final member has been selected for the three-person arbitration panel tasked with resolving ExxonMobil's claim against Chevron's $53bn acquisition of Hess Corp.
Dismissed Tellurian co-founder Souki seeks to buy back stake
Influential LNG pioneer Charif Souki, who co-founded and served as chairman of US LNG developer Tellurian until being pushed out in December, is seeking to buy back a stake in the company.
Biden’s LNG permit pause halted by US court
President Biden’s LNG permit approval pause for US LNG exports to non-Free Trade Agreement countries has been halted by a ruling made on July 1 by a federal judge.
US court asked to delay Citgo auction proceedings amid investor bid evaluations
A motion filed with a US court seeks to postpone a pivotal hearing on the auction of shares in the parent company of Citgo Petroleum, a US-based refiner technically owned by Venezuelan state-run oil company PDVSA, until September 19.
US Supreme Court weakens federal regulators, bolstering business interests
The conservative majority of the US Supreme Court has overturned a 40-year-old landmark decision – the Chevron deference – that made it easier for the federal government to regulate the environment
Cedar LNG takes positive FID
A positive final investment decision was announced by indigenous majority-owned Cedar LNG for its 3.3mn tonne per year floating LNG project located in British Columbia on the territory of the Haisla Nation.
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