Sunday, December 22, 2024

IEA Expects Demand Growth to Slow to 1.2 MMBOPD

The IEA’s monthly report places demand growth down from its five-year 2015 high The International Energy Agency (IEA) released its monthly report today, saying it expects global demand growth for oil to slow to 1.2 million barrels of oil per day in 2016. Demand growth in 2015 reached a five-year high of 1.8 MMBOPD, but momentum will ease towards its

Supermajors Spend $1.2 Billion to Secure Drilling Rights Offshore Canada

Statoil Plays Largest Role, Locks Up Interests in Six Blocks Some of the industry’s largest players spent $1.2 billion in a Canada offshore lease sale on November 12, 2015, securing a foothold in an area estimated to hold as much as 12 billion barrels of oil and 113 trillion cubic feet of gas. Statoil (ticker: STO) was a consistent player

LINN Energy Announces Senior Note Exchange Agreements

LINN Energy, LLC (LINE) (“LINN” or the “Company”) and LinnCo, LLC (LNCO) (“LinnCo”) announced today that LINN has entered into a series of privately negotiated transactions to exchange an aggregate principal amount of $2 billion of the Company’s senior unsecured notes (the “Unsecured Notes”) for an aggregate principal amount of $1 billion of newly issued senior secured second lien notes

Canada to Ban Tankers on North Pacific Coast in Blow to Enbridge

Story by Bloomberg Canada plans to formally ban oil tanker traffic on the northern coast of British Columbia, adding another hurdle to Enbridge Inc.’s Northern Gateway pipeline proposal. Prime Minister Justin Trudeau has instructed Marc Garneau, the minister of transport responsible for the Coast Guard, to implement the ban which has informally been in place for years and was part