Cenovus signs $13.3-billion deal with ConocoPhillips for oil sands, other Canadian assets

Cenovus Energy Inc., Calgary, has agreed to acquire ConocoPhillips’ 50% interest in the companies’ jointly owned Foster Creek Christina Lake (FCCL) oil sands partnership as well as the majority of the Houston independent’s Deep basin conventional assets in Alberta and British Columbia for $13.3 billion, including $10.6 billion in cash and 208 million Cenovus common […]

Zinke issues orders in response to Trump’s executive order on energy

US Interior Sec. Ryan Zinke issued two secretarial orders on Mar. 29 that implement reviews of Department of the Interior agency actions and restore the federal coal leasing program in response to the Mar. 28 Executive Order on Promoting Energy Independence and Economic Growth that President Donald J. Trump signed a day earlier. Source: […]

Dow close to startup of Freeport ethylene plant

Dow Chemical Co. has completed construction of the previously announced 1.5 million-tonne/year ethylene production expansion and upgrade project at its petrochemicals manufacturing complex in Freeport, Tex. Source: News

MARKET WATCH: NYMEX May crude oil jumps above $49/bbl

The light, sweet crude oil contract for May delivery climbed more than $1 on Mar. 29 to settle just above $49.50/bbl while the June contract gained $1.10 to settle at $50/bbl, which analysts largely attributed to drops in distillates and gasoline inventories. Source: News