NorthAmOil - North America Oil & Gas

Chevron exploring sale of Haynesville assets in east Texas

Chevron is considering selling all of its Haynesville assets in east Texas. If such a sale of the shale acreage proceeds, the supermajor would indeed be slimming down after agreeing in late October to purchase Hess for $53bn in stock.

Sempra’s Port Arthur LNG terminal faces hurdle as court removes emissions permit

An emissions permit for US energy company Sempra’s Port Arthur LNG facility has been removed by a US Court potentially throwing a spanner in the project’s construction.

US appeals court orders Gulf oil sale to proceed

The US Court of Appeals for the 5th Circuit has ordered the Biden administration to carry out a Gulf of Mexico auction within 37 days.

Pieridae abandons Goldboro LNG project in Nova Scotia

Canadian energy company Pieridae has revealed that it will halt plans to build the Goldboro LNG project in Nova Scotia as the company begins the process of selling its Goldboro subsidiary and its associated assets, permits, and licences.

Shell, BP, Edison request US and EU intervention in dispute with Venture Global

The long-running dispute between Venture Global and its European customers BP, Edison and Shell has seen another escalation with the three European companies requesting intervention from the US-EU Task Force on Energy Security.

US oil majors to continue betting big on oil

“We’re going to recover more oil at a lower cost, which is good for the US economy.” This was according to Exxon Mobil chairman and CEO Darren Woods when asked recently about the supermajor’s planned purchase of Pioneer Natural Resources.

Canada regulator halts work on section of Trans Mountain, WCS-WTI differential is wider amid delays

The Canada Energy Regulator (CER) has ordered Trans Mountain Corp. to halt work on a small section of the Trans Mountain pipeline because of environmental and safety issues in a wetland in British Columbia.

NorthAmOil: Judge rejects legal challenge to ConocoPhillips’ Willow

Judge rejects legal challenge to ConocoPhillips’ Willow

A federal judge has ruled that ConocoPhillips’ vast Willow oil project on the North Slope of Alaska can proceed.

Crescent Point to acquire Montney-oriented Hammerhead for $1.85bn

Crescent Point Energy will acquire Hammerhead Energy, an oil and liquids-rich Alberta Montney producer, for $1.85bn.

BlackRock to invest in Occidental direct air capture project in Texas

Private equity firm BlackRock is to invest in Occidental Petroleum’s direct air capture (DAC) project in Texas, a decarbonisation technology.

Renewable-diesel unit started up at Chevron’s El Segundo refinery

Chevron Lummus Global has finished the conversion and start-up of a diesel hydrotreater for producing renewable fuels at its El Segundo refinery near Los Angeles. The refinery can also still produce conventional diesel.

What is pushing oil price down?

The price of crude oil has fallen 6.6% in the week ending November 10, with Brent closing below $80 a barrel for the first time since July. Only a few months ago analysts were predicting triple-digit prices. Now that looks like a dream.

Kinder Morgan to buy NextEra Energy Partners' south Texas gas pipelines for $1.8bn

Kinder Morgan (KMI), the US pipeline operator, said it will buy NextEra Energy Partners’ gas pipelines in southern Texas, STX Midstream, for $1.82bn. The deal is expected to close in the first quarter of 2024.

What is pushing oil price down?

The price of crude oil has fallen 6.6% in the week ending November 10, with Brent closing below $80 a barrel for the first time since July. Only a few months ago analysts were predicting triple-digit prices. Now that looks like a dream.

Saudi, Russia to stick with voluntary output cuts

Saudi Arabia and Russia this week confirmed that they will extend their additional voluntary oil production restraint until the end of the year.

Oil prices defy analysts’ expectations and fall rather than rise after the outbreak of the Israeli-Hamas war

The oil price defied analysts’ expectations and fell rather than rose after the outbreak of the Israeli-Hamas war on October 7. A month later, despite a 3.7% drop in the price of a barrel of Brent, its value has returned to pre-war levels.

NorthAmOil: Profits down at Exxon, Chevron but still buoyant

Democrats seek anti-trust probe of Exxon, Chevron mega-deals

Democrats are calling for the US Federal Trade Commission (FTC) to probe the planned acquisitions, saying they could lead to higher prices for consumers at the pump and could violate anti-trust laws.

Biden’s Alaskan oil plan is ‘major threat’, says oil exec

US President Joe Biden’s plans for the National Petroleum Reserve-Alaska (NPR-A) are a “major threat” to oil companies plans for future drilling in the region, a senior oil executive has said.

Profits down at Exxon, Chevron but still buoyant

Profits at ExxonMobil and Chevron, the two largest US oil and gas companies, fell in the third quarter ended September 30. Exxon reported profits of $9.1bn, while Chevron posted profits of $6.5bn.

Biden delays Gulf of Mexico oil, gas sale

The Biden administration has delayed a planned Gulf of Mexico offshore oil and gas auction on November 8 until an appeals court has ruled on the controversial sale. Biden’s announcement was made on November 2.

Enterprise announces $3.1bn in Permian growth projects

Enterprise Products Partners has announced four new capital projects to support continuing production growth in the Permian Basin.

BP mulling partners to raise US shale output

Oil and gas giant BP is said to be exploring forming joint ventures with US shale gas companies to raise its output and slash costs at its North American onshore gas fields.

Chesapeake agrees to 15-year LNG supply deal with Vitol

US oil and gas company Chesapeake Energy revealed that it has signed a heads of agreement deal with Switzerland-based energy and commodity trader Vitol to supply it with LNG for 15 years, beginning in 2028.