NorthAmOil - North America Oil & Gas

Permian production buoys ExxonMobil, Chevron Q3 results

Oil and gas production from the booming Permian Basin has buoyed the third-quarter results of the US’s two largest oil companies, ExxonMobil and Chevron.

US LNG exports projected to experience smallest annual rise

US LNG exports are expected to see their smallest annual rise since the country began exporting the super-chilled fuel in 2016.

US oil imports from Canada reach high

US crude imports from Canada hit a new high of 4.3mn barrels per day in July 2024, thanks to expanded capacity from Canada’s Trans Mountain expanded pipeline.

ConocoPhillips looks to shed non-core assets, says report

According to a report, ConocoPhillips is considering selling some of its Permian Basin shale assets for more than $1bn.

A second deepwater Texas oil export terminal gets EPA approval

Gulflink, a proposed and controversial deepwater export terminal in Texas, has been approved by the Biden administration’s Environmental Protection Agency.

Trump wins the election but US oil supply unlikely to rise, says analyst

Ex-president Donald Trump may have won the US election, but the country’s oil supply is unlikely to increase. This is according to Anne-Sophie Corbeau, BP’s former head of gas analysis in an interview on the eve of the vote.

Coterra and Vitol sign 11-year LNG supply deal

Houston-based Coterra Energy has signed a long-term LNG supply deal with global energy and commodities trader Vitol.

Canada releases draft rules to cap greenhouse gas emissions from oil and gas

Canada’s federal government has unveiled draft regulations to cap greenhouse gas emissions from the country’s oil and gas sector. The sector must lower its emissions to 35% below 2019 levels by 2030, say the draft rules.

Glenfarne selects contractor Kiewit for Texas LNG project

New York-headquartered Glenfarne Group has chosen contractor Kiewit to build the company’s Texas LNG plant.

Energy industry must drive sustainable socio-economic growth: ADIPEC

The global energy industry must drive the next phase of sustainable socio-economic growth, UAE Industry Minister and CEO of the country’s national oil company ADNOC, Sultan Ahmed Al Jaber, said at the ADIPEC conference in Abu Dhabi on November 4.

US sanctions four Singapore-based LNG firms over alleged ties to Russia’s Novatek

The United States has imposed sanctions on four Singapore-based LNG shipping companies linked to Russian energy producer Novatek, targeting their role in circumventing sanctions on Russia's gas industry

OPEC output rises despite Iraqi cuts as unwinding is pushed back

has pushed back its planned easing of output cuts to the end of the year, just as production has risen despite Iraq’s compensatory efforts

US maintains sanctions pressure on Russian LNG

The US Treasury Department maintained pressure on the Russian liquefied natural gas (LNG) sector with a number of designations in the October 30 sanction update.

Global oil supply to see major glut next year: World Bank

Global commodity prices are on track to slump to a five-year low next year, with an oil glut emerging so large that it will largely negate the impact of the Israel-Palestine war escalating into a regional Middle Eastern conflict.

NorthAmOil: US elections could have impact on global LNG markets

US elections could have impact on global LNG markets

The US election is in its final few days, and Vice President Kamala Harris and ex-President Donand Trump have been in a razor-edge race. The vote, for the US president and much of Congress, is on November 5.

Colonial Pipeline mulls $10bn sale, says report

Colonial Pipeline Co., the operator of the US’s largest refined products midstream system, is considering a sale that could value the company at over $10bn.

Canadian federal agency proposes backing giant oil sands carbon capture project, says report

A Canadian federal financing agency has proposed a multi-million-dollar investment in the Pathways Alliance carbon capture project in the oil-sands of Alberta. This is according to anonymous sources quoted by the Globe and Mail newspaper.

US shale gas production has dropped so far in 2024, says EIA

According to the US Energy Information Administration (EIA), US shale gas production has fallen so far in 2024. If this trend continues through December, it will mark the first annual decrease since 2000, before the start of the shale boom.