Over 80 per cent of shareholders approved the $49 billion Shell BG deal LONDON _ Royal Dutch Shell shareholders have overwhelmingly backed the 34 billion pound ($49 billion) bid to buy BG Group, despite a slide in oil prices that have had some critics wondering about the wisdom of the mega-deal. More than 80 per […]
Shell BG purchase deal approved by shareholders Read More »
Oil companies thinking twice about sinking money into new projects LONDON _ The world’s biggest oil companies are slashing jobs and backing off major investments as the price of crude falls to new lows, and there may be more pain to come. Companies like BP, which said Tuesday it is cutting 4,000 jobs, are slimming
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Upstream North American shale plays were hard hit: total value of shale transactions just $29 billion, down from $71 billion in 2015 HOUSTON, Texas – Upstream merger and acquisition (M&A) activity is set to rebound from its record low in 2015, according to a new study from oil and gas information and insight provider 1Derrick.
US upstream oil/gas M&A to surge in 2016 following 73% plunge in 2015 Read More »
Chevron’s equity gas from Australia well-placed to meet growing demand for natural gas in Asia-Pacific region SAN RAMON, Calif. – Chevron Corp. has announced that its wholly-owned subsidiary, Chevron U.S.A. Inc., has signed a non-binding liquefied natural gas (LNG) supply Heads of Agreement (HOA) with China Huadian Green Energy Co., Ltd. “This is an important
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Corrib offshore project a joint venture between Shell, Statoil, Vermilion Energy CALGARY _ Vermilion Energy (TSX:VET) of Calgary says the Corrib offshore natural gas in Ireland began producing for the first time on Wednesday. “First gas marks an important milestone for Vermilion” said Lorenzo Donadeo, CEO of Vermilion. The Calgary-based company expects output to rise
Corrib, Irish offshore gas field, began producing on Wednesday Read More »
CNRL, Suncor, Cenovus, Shell on board with Alberta climate policy CALGARY _Prominent members of both Big Oil and the environmental movement have given their blessing to Alberta’s sweeping new climate change plan. But as remarkable as it was for the likes of both oilpatch billionaire Murray Edwards, Canadian Natural Resources Ltd.’s chairman, and former U.S.
Alberta climate policy: Exxon subsidiary Imperial still mulling over plan Read More »
Murkowski says problems with regulatory environment for Arctic drilling are responsibility of Obama Administration Sen. Lisa Murkowski (R-Alaska) is blaming the Obama Administration for Statoil’s decision to end Alaska operations and give back leases Alaska’s Arctic offshore frontier the company won in 2008. “I am very concerned that, for the second time in as many months,
Murkowski blames Obama for Statoil, Shell abandoning Arctic drilling Read More »
Quest will capture one-third of emissions from Shell’s Scotford Upgrader, which turns oil sands bitumen into synthetic crude Shell is celebrating the official opening of the $1.35 bilion Quest carbon capture and storage (CCS) project in Alberta, Canada, and the start of commercial operations there. Quest is designed to capture and safely store more than one
Shell $1.35 billion Quest carbon capture and storage facility officially opens Read More »
Shell blames lack of pipelines for abandoning Alberta oilsands project CALGARY – Royal Dutch Shell is scrapping its Carmon Creek oilsands project in northwestern Alberta, citing a lack of pipelines to coastal waters as one reason for the decision. The move comes after a review of the project’s design and costs and where it stacks up against
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Shell Arctic drilling stopped due to poor Chukchi Sea results ANCHORAGE, Alaska – The Army Corps of Engineers suspended its study into building the first deep-water port for large oil and gas support ships in the Arctic Ocean after Royal Dutch Shell ended its exploratory drilling off Alaska’s northern coast. Shell’s decision last month to halt offshore
