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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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Suncor to reduce 20% contractor work force in 2023
Suncor Energy is targeting a 20% reduction in its contractor workforce in the current year as it deals with inflationary pressures and supply chain issues that are driving costs upwards, according to the company’s interim CEO, Chris Smith.
Fossil fuel consumption subsidies in 2022 were at record high of $1 trillion
According to the International Energy Agency, worldwide subsidies for fossil fuel consumption increased dramatically in 2022, surpassing $1 trillion for the first time.
BP predicts faster decline in oil and gas demand
OPEC+ to stick with current deal to end of 2023
Enbridge targets higher volumes on Canadian Mainline in 2023
Calgary-based Enbridge is expecting higher throughput volumes on its Canadian Mainline system in 2023 compared with the previous year.
Precision anticipates increases in WCSB drilling
Drilling among producers in the Western Canadian Sedimentary Basin (WCSB) is expected to rise in the coming years as prices remain high and so does demand, senior industry officials have said.
ExxonMobil selects technology providers for planned blue hydrogen plant
ExxonMobil has selected two providers of decarbonisation technologies – Honeywell and Topsoe – to support its planned blue hydrogen facility at its Baytown refining and petrochemical complex on the Texas Gulf Coast.
What’s next for PHRT’s Limetree Bay Refinery?
As the US EPA prepares to permit the removal of hazardous chemicals from the Limetree Bay Refinery, USVI Governor Albert Bryan Jr. accuses the agency of being politically motivated.
Plains predicts 2023 Permian output to grow by 500,000 bpd
Plains All American Pipeline (PAA) said it expects total crude oil production in the Permian Basin to rise by up to 500,000 barrels per day (bpd) in 2023, according to officials on an earnings call for the fourth quarter of 2022.
US oil M&As down in 2022 but 2023 could see a surge
In 2022, US upstream M&As totalled $58bn in 160 deals, with $13bn transacted in 26 deals during the fourth quarter, according to Enverus Intelligence Research. The full-year figure was down 13% compared with 2021.
Biden administration to sell 26mn barrels from SPR
The administration of US President Joe Biden is to sell 26 mn barrels of oil from the Strategic Petroleum Reserve (SPR), one of the releases mandated by the US Congress in 2015 to bolster the budget.
TC reveals cause of Keystone spill in Kansas
TC Energy has pointed to several factors that it says caused the Keystone pipeline to rupture in December in rural Kansas.
Thailand’s largest coal producer to pursue US shale gas
Banpu, the largest coal producer in Thailand, has reaffirmed its plans to boost investments in US shale gas as it moves into lower-carbon resources.
Talos Energy completes acquisition of EnVen Energy
Houston-based oil and gas company Talos Energy has completed its acquisition of EnVen Energy. The deal doubles the deepwater facility footprint of Talos.
Freeport receives first LNG vessel since shutdown
Chevron exits Myanmar
Equinor receives licence from oil regulator for “significant” discovery off Newfoundland
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) has issued a licence to Equinor for the Cappahayden K-67 discovery. The board estimates that it holds about 385mn barrels of recoverable oil.
Bakken holds back US oil production growth
North Dakota’s Bakken shale field is holding back the US’s oil production growth
Biden acknowledges oil will remain necessary in the US
US President Joe Biden has conceded that oil will be needed in America for some time yet, despite the energy transition.
ConocoPhillips profits double in 2022
ConocoPhillips saw doubled profits in 2022 of $18.7bn as crude prices rose, its highest earnings in a decade. This was compared with a year earlier when profits were $8.1bn. ConocoPhillips spun off its refining business in 2012.
NuStar to move 600,000 bpd from the Permian in 2024 to Gulf Coast
NuStar Energy plans to transport 600,000 barrels per day of crude from the Permian Basin to the Gulf Coast in 2024 for refining or export, company executives said.
Nearly 200 permits in New Mexico violate federal law, says appeals court
A federal appeals court said the government wrongly ignored the dangers of greenhouse gas and other hazardous emissions when it issued permits to drill nearly 200 oil and gas wells in New Mexico.
Freeport restarts liquefaction in Train 3, ending 8-month halt
Freeport LNG revealed on February 3 that it has restarted the liquefaction process of Train 3 at the Texas liquefied natural gas export plant.
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