NorthAmOil - North America Oil & Gas

Golden Pass LNG files for capacity expansion as cargo cancellations bite US exporters

Qatar Petroleum and ExxonMobil have requested permission from US regulators to increase the capacity of their Golden Pass LNG terminal, which is currently under construction on the Texas Gulf Coast.

NRG: Some forward momentum, but overall restraint

Despite the relative stability of crude prices in recent days, more news of activity cutbacks, earnings losses and demand weakness continues to come in, and all eyes are turning to the forthcoming OPEC+ meeting.

LNGL terminates Magnolia transaction, sells to different buyer

A deal struck by Australia-based LNG Ltd (LNGL) to sell its proposed Magnolia LNG project on the US Gulf Coast fell through less than two weeks after being announced, but LNGL has sold the project to a different buyer instead.

New North American liquefaction capacity in more doubt than ever

Some LNG developers in the US and Canada say they are still targeting final investment decisions soon, but this seems to be increasingly in doubt.

Ukraine signs deal to buy US LNG

ConocoPhillips reaffirms Alaska production cut even as TAPS ramps flows back up

ConocoPhillips, the largest oil producer in Alaska, has reaffirmed a plan to cut output by around 100,000 barrels per day in the state in June, which comes despite flows on the Trans-Alaska Pipeline System being ramped back up.

Enbridge seeks rate increase on oil pipelines

Calgary-based Enbridge has proposed raising the tariff rates on its Express and Platte crude pipelines, which carry Canadian oil to points in the US.

TC Energy completes sale of Coastal GasLink stake

Canada’s TC Energy has completed the sale of a 65% stake in the Coastal GasLink pipeline, which it is building in British Columbia.

Alaska LNG obtains federal authorisation

The proposed Alaska LNG project has obtained federal authorisation to proceed, though the approval comes at a particularly challenging time for the LNG market, which threatens to derail new projects.

Marcellus edges out Permian to become top destination for frack crews

The Marcellus shale has edged out the Permian Basin as the top destination for hydraulic fracturing crews, according to investment advisory firm Tudor, Pickering, Holt & Co.

Canada looks forward to future deal surge

Canada’s oil industry is hoping for a resurgence of mergers and acquisitions, but only expects it to come after the world succeeds in rebounding from COVID-19.

NRG: Signs of cautious optimism

Producers and investors remain cautious, as the coronavirus pandemic continues to affect energy demand, but are starting to plan for the post-crisis period.

More US shipments reaching China even as other cargoes cancelled

The number of cancelled US LNG cargoes is reported to be on the up, but this comes as more LNG from the US is reaching China after shipments between the two recently resumed.

Continental seeks relief in North Dakota

Shale driller Continental Resources has called on North Dakota’s energy regulators to intervene as the oil industry struggles to survive the coronavirus (COVID-19) pandemic, which has exacerbated an existing oversupply.

Shell, Pieridae to try licence transfers again

Shell Canada – a division of Royal Dutch Shell – and Pieridae Energy are set to engage in a second attempt to transfer licences after the first was blocked by the Alberta Energy Regulator.

Halliburton slashes dividend by 75% in response to oil price crash

Oilfield services firm Halliburton has said that it is slashing its dividend from $0.18 per share in the first quarter of 2020 to $0.045 per share in the current quarter.

Keystone XL becomes US election issue following Biden pledge

Presumptive US Democratic presidential nominee Joe Biden has said that he would cancel the approval granted to the Keystone XL pipeline from Canada if he beats US President Donald Trump in November’s election.

NextDecade confirms FID delay on Rio Grande LNG

US-based NextDecade has confirmed that it will delay its final investment decision on the Rio Grande LNG project, proposed for the Port of Brownsville, Texas, until 2021.

Canada’s offshore industry struggles to stay afloat

Much has been made of the troubles faced by Canada’s oil sands producers, but the country’s offshore industry is also struggling for survival.

Rigs sink but prices stay buoyant as WTI June contract expires

US rig counts have sunk to historic lows for a second consecutive week, but WTI prices avoided another crash as the June contract expired.

NRG: A slow and painful recovery

The market may be showing early signs of a recovery, but for many oil and gas companies, the worst is still to come

South African oil storage capacity draws interest from US companies

US crude oil producers are reportedly showing strong interest in storage capacity in South Africa.

Williams to provide Anchor gas transport services

Pipeline operator Williams announced last week that it had agree to provide offshore natural gas transportation services to the Anchor project in the US Gulf of Mexico.

Continental shutting in 70% of May output

Shale producer Continental Resources, which operates in North Dakota’s Bakken play and in Oklahoma’s Anadarko Basin, said in its first-quarter results that it would be curtailing 70% of its operated oil production this month.

Norwegian wealth fund blacklists four Canadian producers

Norway’s $1 trillion sovereign fund said on May 13 that it had excluded four Canadian oil and gas companies from its investment portfolio for producing “unacceptable” levels of greenhouse gas emissions.