NorthAmOil - North America Oil & Gas

Global gas flaring drops 3% in 2022

The global oil and gas industry managed to reduce gas flaring by 3% last year to 139 bcm, from 144 bcm in the previous year, the World Bank reported on March 29 in its new Global Gas Flaring Report (GGFR), despite oil output rising by 5% to 80mn bpd.

US LNG exports reach record high in March, elevated by Freeport’s return to full power

US LNG producers recorded a record month in March, shipping 7.73mn tonnes of the super-chilled fuel, according to data from Refinitiv Eikon. The figure surpasses the country’s previous record high of 7.67mn tonnes exported in March 2022.

Venture Global to make repairs at Calcasieu Pass, delaying start of commercial operations

US LNG company Venture Global LNG will make repairs at the Calcasieu Pass export plant in Louisiana, delaying the start of the facility’s full commercial operations, the company revealed on March 31.

OPEC+ announces surprise output cut

OPEC and several of its partners in the OPEC+ group made a surprise announcement over the weekend, declaring that they would make a voluntary oil production cut of 1.15mn barrels per day, which will run until the end of the year.

QatarEnergy to partner in two ExxonMobil offshore blocks off Canada

QatarEnergy has agreed to partner on two promising ExxonMobil deepwater exploration blocks off Newfoundland and Labrador in Atlantic Canada.

Enbridge may delay Line 5 tunnel under Great Lakes

Enbridge Inc. has said that construction of a new tunnel for its ageing Line 5 natural gas liquids and oil pipeline in Michigan may be delayed until 2026.

Pieridae Energy abandons plans to transport gas from Western Canada to Nova Scotia

The company is seeking to build a facility to export LNG from Nova Scotia, on Canada’s East Coast, to Europe.

Energy Transfer to acquire Lotus Midstream for $1.45bn

Energy Transfer will acquire Lotus Midstream in a deal valued at around $1.45bn cash and stock.

Baker Hughes selected as main supplier of equipment for Port Arthur LNG

Houston-headquartered energy technology company Baker Hughes was selected by construction firm Bechtel on March 27 to serve as the main supplier of liquefaction equipment for Sempra Infrastructure’s Port Arthur LNG Phase 1 project.

US to issue ultimatum as Mexico reverses energy reform

The administration of US President Joe Biden will issue an “act now or else” missive in the next few weeks to Mexico over the two countries’ energy trade dispute.

NorthAmOil: US to issue ultimatum as Mexico reverses energy reform

Crescent Point to buy $1.2bn Montney assets from Spartan

Crescent Point Energy Corp of Calgary has agreed to purchase $1.24bn in oil-and liquids-rich assets in the Montney shale play from Spartan Delta Corp.

Rio Grande LNG suffers another setback with Societe Generale withdrawal

French bank Societe Generale revealed on March 28 that it pulled out of NextDecade’s Rio Grande LNG project in Texas last year. It is the first time the bank has disclosed that it withdrew from the long-delayed LNG facility.

Freeport LNG experiences rocky restart, cancels several March cargoes

Freeport LNG has cancelled up to four LNG cargoes scheduled to be delivered in March as the US’s second-largest export plant encounters bumps on its road back to full production after an eight-month long outage.

US Department of Justice recovers more than $53mn in Nigerian oil corruption cases

The US Department of Justice (DOJ) has reached a final resolution in two civil cases related to profits obtained through bribes paid to Nigeria’s former Minister for Petroleum Resources.

US replaces Russia as Europe's top oil supplier in December

The US has replaced Russia as Europe’s main oil supplier, according to data published by Eurostat on March 28, accounting for 18% of EU crude imports.

NorthAmOil: US becomes third-largest LNG exporter as first wave nears completion

IPC calls on Canadian federal government for more CCS incentives

International Petroleum Corp (IPC), an oil sands producer, has called on the federal government of Canadian Prime Minster Justin Trudeau for more incentives for carbon capture and storage.

ConocoPhillips to delay minor construction at Willow

ConocoPhillips has agreed to delay some construction at the Willow oilfield on Alaska ‘s North Slope until April 4 while a federal court considers whether to halt the work this winter.

Spain’s Repsol scraps plans for LNG terminal on Canada’s east coast

Madrid-based Repsol has decided against developing an LNG terminal on Canada’s east coast. The terminal would have been exported LNG from Saint John in New Brunswick, Canada across the Atlantic to Europe.

Canada may not need more major oil pipelines, says senior executive

A senior oil executive has said that Alberta may not need more major pipelines once the Trans Mountain expansion has been built.

Construction delayed for NextDecade’s Rio Grande LNG facility

NextDecade’s Rio Grande LNG terminal in Texas has suffered a setback with construction pushed back as the company is now expecting a final investment decision before the end of the second quarter.

Ksi Lisims LNG project in British Columbia moves ahead with environmental review

The Ksi Lisims LNG export project, led by the Nisga’a Nation, has been given the green light by the British Columbian government to enter environmental review for the $10bn floating LNG project in Canada’s northern Pacific coast.

Sempra launches Port Arthur LNG project

Sempra Infrastructure Partners has reached a final investment decision for the development, construction and operation of the Port Arthur LNG phase 1 project in Jefferson County, Texas.

ConocoPhillips' Alaska Willow project okayed, more of Arctic off-limits to oil leasing

The Biden administration has approved a scaled-back version of ConocoPhillips’ $7bn Willow project in Alaska, the US Department of Interior said on March 13.