NorthAmOil - North America Oil & Gas

Oil markets on edge amid escalations in Israel-Hamas war

The escalation in the Israel-Hamas conflict is inciting apprehensive speculations about the impact on global oil markets amid the complex web of geopolitics, sanctions and spectre of broader tensions in the region and beyond.

Canadian oilpatch ripe for M&As as Tourmaline set to buy Bonavista for $1.12bn

Canada’s largest natural gas producer, Tourmaline Oil, plans to acquire the rival privately held Bonavista Energy to add Deep Basin gas growth. The price-tag would be CAD1.5bn ($1.1bn) cash and stock.

Canada Supreme Court says Trudeau environment law largely unconstitutional

The Impact Assessment Act (IAA) of 2019 governs how large projects such as oil sands plants affect the environment. It is largely unconstitutional, said the court, because it oversteps federal authority over what in Canada are provincial matters.

More consolidation expected in US shale

This follows the recent blockbuster October 12 news that ExxonMobil Corp. had agreed to buy Pioneer Natural Resources Co. for almost $60bn. The all-stock transaction will make Exxon the dominant player in the Permian Basin.

Canadian regulator to make preliminary decision soon on Trans Mountain tolls

Chesapeake Energy may buy Southwestern - reports

Chesapeake Energy is reportedly considering purchasing rival natural-gas producer Southwestern Energy. The purchase would create the largest natural-gas-focussed exploration-and-production company in the US by market value.

Sanctioned oil tanker docks in Houston, destined for ExxonMobil refinery

An oil tanker sanctioned by the US government over allegations that it carried Russian crude priced above the G7's price cap docked in Houston on October 17, destined for unloading at ExxonMobil’s refinery in Baytown, Texas.

Venture Global asks FERC for authorisation to commence part of Calcasieu LNG plant

US LNG producer Venture Global has requested authorisation from the Federal Energy Regulatory Commission to begin service of liquefaction blocks 7-9 at Calcasieu Pass LNG terminal in a filing made on October 10.

Biden administration unveils $7bn in funding for first seven US hydrogen hubs

NorthAmOil: Biden administration unveils $7bn in funding for first seven US hydrogen hubs

IEA declares end to "Golden Age of Gas"

The energy crisis triggered by Russia’s invasion of Ukraine effectively marks the end of the 10-year Golden Age of Gas, the International Energy Agency said in its medium-term gas market report this month.

US gas output to reach a new high in 2023, says EIA

According to the US Energy Information Administration's new Short Term Energy Outlook, both America’s gas output and demand will rise to a new high this year.

Exxon to acquire Pioneer for $60bn

ExxonMobil Corp. has agreed to buy Pioneer Natural Resources Co. for $59.5bn. The all-stock transaction will make Exxon the dominant player in the Permian Basin, the world’s most active shale play.

NorthAmOil: Exxon to acquire Pioneer for $60bn

Kosmos discovers oil in the deepwater US Gulf of Mexico

Kosmos Energy has announced an oil discovery in the deepwater US Gulf of Mexico at the Tiberius exploration well.

Tellurian seeks extension to complete Louisiana LNG plant

LNG developer Tellurian is seeking a three-year extension for completing its Driftwood LNG plant in Louisiana.

Delfin gets four-year extension for LNG port facilities

Delfin LNG has more time to complete the first phase of its Gulf of Mexico export plant. FERC extended until September 28, 2027 the amount of time Delfin has to put into service the onshore portion of its proposed floating export facility.

Report: Canadian oil output to soar to new high within two years

A new study by Deloitte Canada finds that Canadian oil production will rise because of the start-up of the expanded Trans Mountain pipeline from Alberta to the British Columbia. The pipeline expansion is expected to be complete in 2024.

Vessel restrictions in Gulf of Mexico would cut oil, gas output by 24%

A new analysis released by the American Petroleum Institute suggests that if the Biden administration’s vessel restrictions were implemented in the Gulf of Mexico, oil and gas production would decline dramatically.

Big companies in California now have to report emissions

Companies operating in California that make more than $1bn in annual revenues will have to disclose their carbon emissions – including indirect or Scope 3 emissions – under new legislation signed into law by Governor Gavin Newsom.

NorthAmOil: Biden’s oil, gas lease plan is evidence of his “failed” energy policies, says API

Biden’s oil, gas lease plan is evidence of his “failed” energy policies, says API

The administration of US President Joe Biden has unveiled a proposed five-year plan for offshore oil and gas auctions. And to no-one’s great surprise, it is not a plan with which the oil and gas sector is happy.

Imperial, Alberta’s energy regulator knew about Kearl’s tailings seepage for years

Imperial Oil and the Alberta Energy Regulator knew for years about the Kearl oilsands tailings seepage, documents reported by Canadian Press show.

Flaring increases in Permian

Flaring is increasing again in the Permian basin, with enough gas flared in one year to meet the US’s domestic gas needs for an average day.

Oil, gas emissions undercut Canada’s climate progress, says estimate

Emissions from oil and gas – as well as from buildings – continued to rise in 2022, undercutting Canada’s climate progress, according to a new independent estimate from 440 Megatonnes, a project of the Canadian Climate Institute.