NorthAmOil - North America Oil & Gas

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Oil & Gas

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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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Imminent start-up of Canada’s TMX pipeline may impact Iraq

16 April 2024

Canada’s Trans Mountain Expansion (TMX), to start up on May 1, will triple pipeline capacity for exporting heavy oil-sands crude from Alberta to Pacific coast. This may affect the prospects of a similar grade of crude from OPEC member Iraq.

Superfund for climate damage? Advocates say yes

16 April 2024

Polluters may have to pay compensation to taxpayers for climate damage under new laws being considered in four US states.

Biden increases financial assurance by $6.9bn for offshore oil & gas decommissioning

16 April 2024

The Biden administration has ruled that offshore oil and gas industry will have to produce $6.9bn in new financial assurances to protect American taxpayers from offshore decommissioning costs on the Outer Continental Shelf

Chevron-Hess merger may be postponed due to arbitration over Guyana Stabroek block stake

16 April 2024

Hess Corporation reported in a filing to the US Securities and Exchange Commission (SEC) that its acquisition by Chevron Corporation may be delayed until 2025.

What next for oil markets after Iranian strike on Israel?

16 April 2024

For the time being, traders have apparently shrugged off fears of a direct war between Israel and Iran, but escalation is still a significant risk.

Cedar LNG to receive liquefaction equipment from Chart Industries

16 April 2024

Pembina Pipeline and Haisla Nation have taken another key step forward with the development of their proposed floating LNG facility in Kitimat, British Columbia with the announcement that Chart Industries will supply liquefaction equipment.

Israeli attack on Iran to cost Biden re-election over possible oil price hike

15 April 2024

After Iran's unprecedented attack on Israel in the early hours of Sunday, April 14, global concerns are growing about Israel's retaliatory action that has already pushed oil prices above $90 per barrel.

Jamie Dimon calls US LNG pause "enormously naive"

10 April 2024

Jamie Dimon, the chief executive of leading US investment bank JPMorgan Chase, harshly criticised President Biden’s LNG pause in his annual letter to shareholders.

Cedar LNG moves ahead with notice to proceed issued to EPC contractors

10 April 2024

Pembina Pipeline and its partner the Haisla Nation have issued a notice to proceed to engineering, procurement, and construction contractors Black & Veatch and Samsung Heavy Industries for its Cedar LNG project the partners revealed.

Crude oil prices remain in motion amid Middle East uncertainty

10 April 2024

Fresh talks between Israel and Hamas at the start of the week prompted Brent and WTI prices to slip from higher prices during the previous week, but a lack of progress in the talks by mid-week and a pending new attack by Israel prompted concern.

Enterprise Products to construct new Delaware Basin gas facility, receives deepwater port licence for SPOT project

10 April 2024

Enterprise Products Partners is to construct the Mentone West 2 gas processing plant in the Delaware Basin, which is in the Permian in Texas.

Trans Mountain pipeline expansion to start up May 1

10 April 2024

Trans Mountain Corp, the owner of the Trans Mountain pipeline, has announced that the start-up of the CAD34bn ($22.2bn) project’s expansion will be May 1.

ExxonMobil signals first-quarter results will be weaker

10 April 2024

Exxon Mobil, the US’s largest oil company, has warned that its first quarter results will be weaker because of lower oil and gas prices as well as a large loss in fuel derivatives.

FTC requests more information in $7.4bn Chesapeake-Southwestern deal

10 April 2024

The Federal Trade Commission (FTC) is seeking more information on the $7.4bn merger of Chesapeake Energy and Southwestern Energy. The companies have said this will delay the closing date of their deal until the second half of 2024.

Diamondback may power Permian operations with nuclear power

10 April 2024

Diamondback Energy and Oklo have signed a letter of intent for supplies of 50 MW of nuclear power for the oil company’s operations in the Permian Basin.

US Energy Department halts purchases to refill Strategic Petroleum Reserve

10 April 2024

The US Department of Energy has stopped two planned purchases to refill the Strategic Petroleum Reserve this coming August and September, acquisitions that had been announced in mid-March.

US launches methane waste prevention rule

4 April 2024

The Biden administration has issued a final rule to limit methane waste from oil and gas drilling sites on federal and Native lands.

Oil, gas activity relatively unchanged in Q1: Dallas Fed

4 April 2024

According to the Dallas Fed energy survey, activity in the oil and gas sector in the bank’s region remained largely stagnant in the first quarter of 2024. The business activity index was 2.0, indicating minimal growth during the quarter.

US gas production rose by 4% in 2023, in line with 2022: EIA

4 April 2024

US natural gas production grew by 4% in 2023, or 5.0bn cubic feet per day, to average 125.0 bcfpd, according to the EIA.

SilverBow declines newest Kimmeridge proposal, in advance of proxy fight

4 April 2024

The board of directors of Eagle Ford driller SilverBow Resources Inc. has again rejected a latest proposal from asset manager Kimmeridge to merge it with Kimmeridge Texas Gas

US is world’s top crude producer, but the acceleration is slowing

4 April 2024

The US has produced more oil than any country for the last six years, despite President Joe Biden’s climate policies. But the gains are slowing as shale plays mature. Even so, America could still surprise the market and continue to plough ahead.

Chevron-PDVSA joint venture launches new drilling drive in Venezuela

3 April 2024

Petroindependencia, a joint venture between Venezuelan national oil company PDVSA and US oil behemoth Chevron, has initiated a fresh drilling campaign, as disclosed by PDVSA in a statement on April 1.

SLB to buy ChampionX for $8bn

3 April 2024

Oilfield services company SLB will buy smaller rival ChampionX in an all-stock deal valued at $7.75bn. It is the largest purchase for SLB since the company acquired oilfield gear maker Cameron International for $14.8bn in 2016.

White House rejects GOP proposal to tie Ukraine aid to reversal of LNG pause

3 April 2024

Officials in the Biden administration have shot down the possibility of a deal linking aid for Ukraine with reversing the pause on new US LNG export approvals.

Edited by

Anna Kachkova

Editor

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