Vancouver, British Columbia--(Newsfile Corp. - July 25, 2023) - Altima Resources Ltd. (TSXV: ARH) (FSE: AKC) (OTC Pink: ARSLF) The Company has received an update from St-Georges Eco Mining (CSE: SX), its technology partnership ("H2SX"), relating to its Korean partners and the ability to proceed with the finalization of the formal agreement. The independent preliminary engineering study (the "Engineering Study") which is to be completed through utilization of the pilot plant currently located in [Read more]
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TC Energy isolates Columbia gas line section in Virginia, declares force majeure
TC Energy's Columbia Gas Transmission Pipeline on Tuesday declared a force majeure after isolating a section of its 'Line VB' pipeline after detecting a pressure drop due to an unplanned incident along Interstate 81 in Strasburg, Virginia. Canada's TC Energy, best known for its Keystone oil pipeline, earlier said it was responding to a fire in the vicinity, but did not confirm if the pressure drop was caused by the fire. No injuries have been reported, the company said. "As a result of [Read more]
US oil M&A jumps as private equity unloads shale assets
U.S. oil and gas deals rebounded in the second quarter as private equity firms shed shale portfolio investments and publicly traded oil firms grabbed smaller rivals. U.S. oil exploration and production deals last quarter soared to $24 billion - nearly three times that of the first quarter, energy analytics firm Enverus disclosed on Tuesday. There were 20 deals with an average value of $1.8 billion as a stable U.S. oil price outlook has encouraged private-equity buyers to exit properties. [Read more]
US natgas prices ease on forecasts for less demand
U.S. natural gas futures eased about 1% on Tuesday on forecasts for less demand over the next two weeks than previously expected. That small price decline came despite a drop in daily output and forecasts for the weather to remain hotter-than-normal through early August, especially in Texas. Power demand in Texas hit a record high on July 18 and will likely break that record on Tuesday and again next week as homes and businesses keep their air conditioners cranked up to escape a lingering [Read more]
BTG Energy to acquire infrastructure assets from private producer – BOE Intel
BTG Energy Corporation has filed an application with the AER to transfer the licences for 297 pipelines, 146 facilities and 4 wells from Certus Oil & Gas Inc. to BTG. That licence transfer is currently listed as "Pending" AER Approval. The affected locations for the transfer are mapped below via BOE Intel. BTG is a freshly capitalized private equity fund that raised $74.2 MM in December, 2022 with the mandate to "make investments in the Canadian energy infrastructure sector." The [Read more]
Indonesia’s big gas projects to proceed after global majors sell stakes
Shell and Chevron's agreements to sell stakes in major Indonesian gas projects to Pertamina, Petronas and Eni will unleash development at the fields, enabling the country to boost its flagging output, the buyers said. Indonesia has seen declining oil and gas production in recent years due to depleting reserves, and as major new projects face delays due to oil majors' exits. After signing a deal on Tuesday to buy a 20% stake in the Masela gas block from Shell, Nicke Widyawati, CEO of [Read more]
Oil prices rise on tighter supply, China hopes
Oil prices edged higher for the third straight session on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world's second-biggest economy lifted sentiment. Brent futures gained 22 cents, or 0.3%, to $82.96 a barrel by 0253 GMT, while U.S. West Texas Intermediate (WTI) crude rose 23 cents, also 0.3%, to $78.97. Both benchmarks rose over 2% the previous day, when hit their highest closes since April. The crude benchmarks have already climbed for four [Read more]
US to spend $1.55 billion for oil and gas sector to cut methane emissions
The U.S. government will provide up to $1.55 billion in funding to monitor and reduce methane emissions from the oil and gas sector, two agencies said on Monday. The funding will be accompanied by technical assistance for companies to rein in emissions of the planet-warming greenhouse gas from leaks and daily operations, the U.S. Environmental Protection Agency said. "The amount of methane emitted from oil and gas operations is enough to fuel millions of homes a year, and is a major driver [Read more]
Ottawa reveals conditions for allowing future fossil fuel subsidies
MONTREAL - Ottawa is restricting the conditions under which it will allow subsidies to the fossil fuel industry. The federal government has released guidelines that will limit when public funds are used to support oil and development. Subsidies will be allowed if they support clean energy as well as projects that reduce their greenhouse gas emissions or have a credible plan to achieve net zero by 2030. Subsidies aiding Indigenous involvement in the industry will continue, as will those [Read more]
US natgas prices steady as rising output offsets hot weather forecasts
U.S. natural gas futures held steady on Monday as rising output and forecasts for less demand next week offset forecasts for higher demand this week with the weather expected to remain hotter than normal through early August, especially in Texas. Power demand in Texas hit a record high on July 18 and will likely break that record on Tuesday and Wednesday and again next week as homes and businesses keep air conditioners cranked up to escape a lingering heatwave, said the Electric Reliability [Read more]