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The publication continues to provide weekly coverage of upstream, midstream and downstream news, spanning shale oil and gas, LNG, oil sands, transport by pipeline and rail, company performance and regional energy policy – on both national and state or provincial levels. NorthAmOil provides regular updates on the status of major proposed projects in both the US and Canada. The publication also looks at more distant prospects, such as offshore Arctic drilling.
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Petrobras kicks off Gulf stake sale
Brazil’s state-owned Petrobras said on February 16 that it had launched the non-binding phase of a process to sell its 20% stake in MP Gulf of Mexico, a joint venture with the US’ Murphy Oil, which owns the remaining 80%.
Alberta reportedly planning to toughen oil sands emissions standards
The Alberta government is reportedly planning to close a loophole that allowed oil sands miners to claim millions of dollars’ worth of credit for their emissions.
Colgate reportedly considering sale or merger
Private equity-backed Colgate Energy is reportedly considering a sale, as well as continuing to explore the possibility of an initial public offering.
Crescent to buy Uinta Basin assets for $815mn
US independent Crescent Energy announced this week that it had struck a deal to buy assets in the Uinta Basin from Verdun Oil Company II, which were previously owned by EP Energy, for $815mn.
ConocoPhillips supplies Bakken gas to bitcoin miner
US independent ConocoPhillips is supplying natural gas from North Dakota’s Bakken play to a bitcoin mining project, it emerged this week.
NorthAmOil: Alberta reportedly planning to toughen oil sands emissions standards
The provincial government of Alberta is reportedly planning to toughen its greenhouse gas (GHG) emissions standards for oil sands mines.
Bakken Energy, Mitsubishi Power partner with indigenous group on hydrogen
Bakken Energy and Mitsubishi Power Americas have said that they are partnering with the Mandan, Hidatsa, and Arikara (MHA) Nation, an indigenous group, on a clean hydrogen project.
Biden administration pushes on with lease sale plans
The administration of US President Joe Biden is continuing to plan for future federal oil and gas lease sales despite a court ruling in January that invalidated the first lease sale it held.
Cenovus reports fourth-quarter loss on one-time charge
Canada’s Cenovus Energy has posted a net loss of CAD408mn ($320mn) for the fourth quarter of 2021, down from a profit of CAD551mn ($433mn) in the third quarter of last year and a loss of CAD153mn ($120mn) in the final quarter of 2020.
Canadian government rejects Quebec LNG project
The Canadian government has rejected GNL Québec’s Énergie Saguenay LNG project. The move follows a rejection from the provincial government of Quebec in July 2021 and could spell the project’s demise.
Canadian oil exports via Gulf Coast reach record highs
Canadian producers are reported to have exported record crude volumes from the US Gulf Coast at the end of 2021 but continue to face some pipeline capacity constraints.
TotalEnergies exits North Platte project in Gulf
France’s TotalEnergies announced on February 10 that it has decided not to sanction its North Platte project in the US Gulf of Mexico.
Crescent Point reportedly seeks to sell assets
Canadian light oil producer Crescent Point Energy is reportedly seeking to sell some of its assets in Alberta and Saskatchewan.
NorthAmOil: Crescent Point reportedly seeks to sell assets
Canadian light oil producer Crescent Point Energy is reportedly seeking to sell some of its assets in Alberta and Saskatchewan.
Cedar LNG awards FEED contract
Canada’s Cedar LNG announced this week that it had awarded a front-end engineering and design (FEED) contract to Black & Veatch and Samsung Heavy Industries for its proposed floating LNG (FLNG) project.
US on track for LNG dominance
The US is on track to be the world’s leading producer of LNG this year, with the Calcasieu Pass terminal preparing to export its first cargo.
ExxonMobil, Chevron see earnings bolstered by oil prices
ExxonMobil and Chevron reported fourth-quarter profits, bolstered by stronger oil and gas prices, but some ongoing challenges have been reflected in the results.
ConocoPhillips beats expectations with fourth-quarter results
ConocoPhillips has reported earnings of $2.6bn, or $1.98 per share, for the fourth quarter of 2021.
US judge annuls federal Gulf of Mexico lease sale
A US federal judge has annulled the first Gulf of Mexico lease sale held by the administration of US President Joe Biden.
Enbridge partners with indigenous group on Alberta carbon storage hub
Canada’s Enbridge has announced that it is partnering with the First Nation Capital Investment Partnership (FNCIP) – a group formed by four First Nations – to advance the proposed Open Access Wabamun Carbon Hub in Alberta.
Newfoundland and Labrador not ruling out Bay du Nord participation
The government of Newfoundland and Labrador is not ruling out participating in Equinor’s Bay du Nord project in the offshore Flemish Pass Basin.
Earthstone to buy Bighorn Permian for $860mn
Earthstone Energy announced on January 31 that it had agreed to acquire the assets of privately owned Bighorn Permian Resources for around $860mn.
BNEF: global investment in energy transition reached $755bn
Pressure builds on Biden to prioritise climate and energy provisions of Build Back Better
Pressure is building within President Joe Biden’s own party for the White House to prioritise the climate and energy provision of the Build Back Better bill, stalled for more than a month in the US Senate.

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