MEG: Christina Lake output surged in July

MEG Energy Corp., Calgary, says bitumen production surged last month at its Christina Lake thermal project south of Fort McMurray, Alta., after a 33-day turnaround in the year’s second quarter and application of new technology in the latest development phase. Source: News


SGC awards BHGE contract for flare gas recovery

The South Gas Company of Iraq (SGC) has let a contract for flare gas recovery for Nassiriya and Al Gharraf oilfields to Baker Hughes, a GE company. Source: News


Kosmos enters Gulf of Mexico with $1.225-billion acquisition

Kosmos Energy Ltd., Dallas, has agreed to acquire Gulf of Mexico operator Deep Gulf Energy (DGE), Houston, from First Reserve and other shareholders for $1.225 billion comprised of $925 million in cash and $300 million in common shares. Source: News


MARKET WATCH: Crude oil prices close slightly lower to end week

Crude oil prices dropped slightly to end a volatile week on the New York and London markets on Aug. 3. Some unilateral US sanctions on Iran are scheduled to become effective Aug. 7, but this does not yet include oil. Source: News