NorthAmOil - North America Oil & Gas

US regulators approve Caesar-Tonga stake sale

The US Bureau of Ocean Energy Management has approved Royal Dutch Shell’s sale of its 22.45% stake in the Caesar-Tonga oilfield in the US Gulf of Mexico to Norway’s Equinor.

Koch exits oil sands

Koch Industries has confirmed that recently sold off its upstream leases and abandoned licences in Alberta’s oil sands.

Oil shipments begin on Cactus II

Commodity trader Trafigura announced on August 12 that it has started shipping oil on the Cactus II pipeline out of the Permian Basin.

Occidental closes Anadarko acquisition

Occidental Petroleum closed its acquisition of Anadarko Petroleum last week and is now figuring out the next steps to take with the latter’s assets.

US shale bankruptcies continue for Halcon, Sanchez

Over the past week, both Halcon Resources and Sanchez Energy have separately filed for Chapter 11 bankruptcy protection.

Cheniere ups volumes, losses

Murphy reports Gulf push

US independent Murphy Oil has announced that it is proceeding with three new projects in the deepwater US Gulf of Mexico.

Occidental sells $13bn of bonds to fund Anadarko acquisition

Occidental Petroleum has sold $13bn of bonds to help finance its $38bn acquisition of Anadarko Petroleum.

Chevron’s profit up, ExxonMobil’s down in second quarter

Chevron has reported strong profits for the second quarter of 2019, while rival super-major ExxonMobil reported a year-on-year drop owing to low weaker natural gas prices and higher maintenance costs.

Plains completes Cactus II as new partners buy into project

Plains All American Pipeline has completed its Cactus II pipeline from the Permian Basin in West Texas to the Corpus Christi area on the Texas Gulf Coast.

Turkey’s Tupras reports 15% y/y decline in Q2 profit

Q2 profit significantly above market average expectation mainly thanks to hefty deferred tax gain recorded by oil refiner.

Canadian pipeline operators add capacity for more crude to reach US refiners

Pipeline operators are finding ways of sending more Canadian oil to US refiners, despite the fact that no major new pipelines are coming online, and any proposals tend to be held up by regulatory delays and litigation.

Shell approves PowerNap tieback in deepwater Gulf

Shell Offshore has made a final investment decision for the PowerNap deepwater project in the US Gulf of Mexico.

US authorises Gulf LNG exports

The US Department of Energy has approved exports from Kinder Morgan’s Gulf LNG project, which would be located in Jackson County, Mississippi.

US becomes third largest LNG exporter as first wave nears completion

The US is now the world’s third-largest LNG exporter but the US-China trade war still threatens further expansion