Cheniere Energy Inc said on Friday it has signed a deal to sell liquefied natural gas to China National Petroleum Corp (CNPC) from its Corpus Christi export terminal under construction in Texas, moving the top U.S. LNG company closer to expanding the site. CNPC's PetroChina International Co Ltd subsidiary will buy about 1.2 million tonnes per annum (mtpa) of LNG under two agreements with a portion of the supply beginning in 2018 and the balance in 2023, Cheniere said. The deal should [Read more]
U.S. drillers boost oil rig count to highest nearly 3 years -Baker Hughes
U.S. energy companies added 26 oil rigs this week, boosting the count to 791, its highest since April 2015, even as crude pulled back from three-year highs with drillers expecting higher prices for their output in 2018 than last year. The increase in the week to Feb. 9 was the biggest weekly rise since January 2017, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is much [Read more]
U.S. drillers boost oil rig count to highest nearly 3 years -Baker Hughes
U.S. energy companies added 26 oil rigs this week, boosting the count to 791, its highest since April 2015, even as crude pulled back from three-year highs with drillers expecting higher prices for their output in 2018 than last year. The increase in the week to Feb. 9 was the biggest weekly rise since January 2017, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. More than half of those oil rigs were located in the Permian basin [Read more]
Canadian police arrest two at Kinder Morgan pipeline protest
Canadian police arrested two people on Thursday at a protest over Kinder Morgan Canada Ltd's Trans Mountain pipeline expansion after the protesters began blocking highway traffic and equipment. A man, 23, and a woman, 22, were arrested for mischief, the Royal Canadian Mounted Police said. The man was released without charge, while the woman, who had locked herself to a piece of machinery, faces one charge of mischief. The two were part of a peaceful protest in the Vancouver suburb of [Read more]
Kinder Morgan Canada set to fight back in pipeline battle
Kinder Morgan Canada Ltd is gearing up for a legal fight over British Columbia's plans to block increased oil shipments through the western Canadian province, as it questions the intent of the proposed rules which could further delay its Trans Mountain pipeline expansion project. In a five-page letter from Kinder Morgan Canada's President Ian Anderson to British Columbia Premier John Horgan, sent on Tuesday and seen by Reuters on Thursday, Anderson questioned the province's [Read more]
Suncor calls on Canada to ‘up its game’ in drive for investment
Suncor Energy Inc , one of Canada's biggest oil producers, said on Thursday that the country is losing ground to others in creating conditions to attract investment. The warning from Suncor Chief Executive Steve Williams came hours before Prime Minister Justin Trudeau's Canadian government was scheduled to unveil changes to the regulatory regime for resource projects. "We are having to look at Canada quite hard. The cumulative impact of regulation (and) higher taxation than other [Read more]
Canada’s MEG Energy to sell pipeline, storage assets for C$1.61 bln
Canadian oil sands producer MEG Energy said on Thursday it had agreed to sell some pipeline and storage assets in Alberta to Wolf Midstream Inc for C$1.61 billion ($1.28 billion) to pay down debt and fund its flagship project in Athabasca. MEG said it would sell its 50 percent interest in the Access Pipeline for C$1.4 billion and its full interest in the 900,000-barrel Stonefell oil storage facility for C$210 million. MEG said it will get C$1.52 billion in cash when the deal closes, and a [Read more]
Suncor reports boost in fourth-quarter profit
Suncor Energy Inc , Canada's second-largest energy producer, reported a higher fourth-quarter profit on Wednesday, topping analysts' estimates on stronger oil prices and lower costs. The Calgary, Alberta-based company reported net earnings of C$1.38 billion, or 84 Canadian cents per share, in the three months ended Dec. 31. In the year-prior quarter, net earnings were C$531 million, or 32 Canadian cents per share. Suncor's operating profit, which excludes one-time items, was [Read more]
U.S. closer to decision on sanctioning Venezuela oil: Tillerson
KINGSTON (Reuters) - The United States is closer to deciding whether to impose sanctions on Venezuelan oil, U.S. Secretary of State Rex Tillerson said on Wednesday, at the end of a five-nation tour of Latin America where he discussed the move with regional leaders. Tillerson said Canada, Mexico and the United States had agreed at a trilateral meeting last week to study what could be done to mitigate the impact of such a move. Tillerson said he had briefed President Donald Trump about the [Read more]
U.S. shale surge sends warning to OPEC: Kemp
LONDON, Feb 7 (Reuters) - U.S. crude oil production is set to increase by more than 1.2 million barrels per day in 2018 compared with 2017, according to the latest short-term forecasts from the U.S. Energy Information Administration. U.S. crude production will average almost 10.6 million barrels per day (bpd) this year compared with 9.3 million bpd in 2017 (“Short-Term Energy Outlook”, EIA, Feb. 6). The forecast has been revised sharply higher from less than 10.3 million bpd at the time of [Read more]