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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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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.
Freeport LNG receives approval to begin commissioning second jetty
Freeport LNG was granted permission by federal regulators on October 27 to start commissioning its second LNG jetty.
Baker Hughes on track to record almost $9bn worth of orders for LNG equipment in 2022/2023
Houston-headquartered energy services company Baker Hughes revealed it is on track to bring in almost $9bn in LNG equipment sales orders between 2022 and 2023, during a third-quarter earnings call.
Chevron to buy Hess for $53bn as majors bet on fossil fuels
In the latest in a series of massive US upstream transactions, Chevron has agreed to buy Hess, a US exploration-and-production independent, for $53bn in an all-stock transaction.
Devon mulls buying Marathon, ConocoPhillips eyes CrownRock
As part of an expected trend of more mergers and acquisitions in the US upstream sector, Devon Energy is mulling buying Marathon Oil, while ConocoPhillips is now eyeing CrownRock.
Trans Mountain pipeline may need new funds for completion
The Canadian government corporation building the Trans Mountain pipeline – which is scheduled to come online by the end of Q1 2024 – may need external financing to complete the project, auditor says.
US oil, gas dealmaking down in Q3 but mega-deals to ignite activity in Q4
More than $120 bn in deals this month may push up activity in M&As in the fourth quarter after a quieter third quarter, reported Enervus.
Largest oil services providers report strong global sales
SLB, the world’s biggest oil-services provider, has reported a boost in its international drilling and oilfield equipment sales in the third quarter, despite weaker demand in North America. Oil demand has been rising globally.
Trudeau weighs excluding oil and gas from Indigenous loan plan
Canadian Prime Minister Justin Trudeau and his cabinet are debating whether to include the oil and gas sector in a planned multi-billion dollar loan programme for resource projects.
Latest M&A deal for US major will impact South America
Chevron, which is already active in Venezuela and Suriname, is set to enter Guyana as a result of acquiring Hess in an all-stock transaction worth $53bn.
TotalEnergies partners with Corio and Rise on 3+ GW wind project in US
TotalEnergies has partnered with Corio Generation, an offshore wind developer, and New York-based Rise Light & Power for the joint development of an offshore wind project off New York and New Jersey.
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.
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.
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