Mexico Sells 60% of Blocks in Second Auction, Compared to Just 14% in the First Round Mexico’s National Hydrocarbon Commission heard plenty of criticism following its first oil auction in July, in which only two of the 14 available offshore blocks were sold. Its second go-’round was much more successful. The country’s latest oil auction, conducted on September 30, 2015,
FERC approves the first West Coast LNG Export Facility The Federal Energy Regulatory Commission (FERC) gave its final environmental approval for the Jordan Cove LNG project and the Pacific Connector Gas Pipeline in Oregon, according to a FERC release. The project is the first liquefied natural gas terminal on the West Coast, and will deliver natural gas produced in the
Survey of oil companies, producers and analysts shows declines in OPEC output OPEC production declined in September, led by lower output in the group’s three-biggest producers, according to a survey conducted by Bloomberg. The survey was taken of oil companies, producers and analysts, and it showed output from OPEC down 233,000 barrels per day from August to 32.05 million barrels
The drilling program of Nighthawk Energy plc (ticker: HAWK.L) is up and running again, and new arrangements in its marketing firm agreements are expected to provide increased upside in the second half of 2015. The plan to drill the first of six gross wells (three net) commenced on schedule in September, as part of its joint development agreement with Cascade
TORRANCE, Calif.–(BUSINESS WIRE)–ExxonMobil has reached an agreement with PBF Energy, Inc. for the sale and purchase of its refinery in Torrance, California, a lubricants distribution center at Vernon, products terminals at Vernon and Atwood, and associated California pipelines and other logistics assets, including facilities at the Southwest terminal. “The sale results from a strategic assessment of the site and how
MIDLAND, Texas–(BUSINESS WIRE)– Concho Resources Inc. (NYSE: CXO) (the “Company”) today announced the launch of an underwritten public offering of 7,000,000 shares of common stock. The underwriters will have an option to purchase up to an additional 1,050,000 shares of common stock from the Company. Proceeds from the offering are expected to be used to repay all outstanding borrowings under
PARSIPPANY, N.J.–(BUSINESS WIRE)–PBF Energy Inc. (NYSE:PBF) announced today that its subsidiary has signed a definitive agreement to purchase the 155,000 barrel-per-day Torrance refinery, and related logistics assets, from ExxonMobil. With the acquisition, PBF will increase its total throughput capacity to approximately 900,000 barrels per day. The purchase price for the assets is $537.5 million, plus working capital to be valued
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From The Wall Street Journal LONDON— Schlumberger Ltd. on Wednesday backed out of a $1.7 billion deal for a stake in Russia’s largest onshore drilling firm after Moscow didn’t approve the deal by a deadline imposed by the Western oil-services giant. The collapse of the deal highlights the deteriorating relations between Russia and the West amid sanctions over Ukraine. It
Ukraine and Russia agree on a new “Winter Deal” After months of negotiation mediated by the European Union, Russia and Ukraine have come to an agreement on the price for gas from Russian monopoly Gazprom (ticker: OGZPY) for the coming winter. Ukrainian Energy Minister Volodymyr Demchyshyn indicated Monday that the price Ukraine will pay for Russian gas supplies in the
Five independent reviews say pipeline could be constructed and operated safely Calgary-based TransCanada (ticker: TRP) announced today that it will file an application with the Nebraska Public Service Commission (PSC) to seek approval for the Keystone XL route through the state. TransCanada is also in the process of withdrawing its current eminent domain actions and is taking steps to terminate
HAMILTON, BERMUDA–(Marketwired – Sept. 30, 2015) – Teekay Corporation (Teekay or the Company) (NYSE:TK) announced today it has entered into a Framework Cooperation Agreement with The Export-Import Bank of China (CEXIM) for up to $1 billion in new loan facilities. Such loan facilities would be made available to Teekay and its subsidiaries, including Teekay LNG Partners L.P. (NYSE:TGP), Teekay Offshore
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