Production from the Canadian oil sands will increase through 2040 even if pipeline capacity remains constrained, says the National Energy Board of Canada. Source: News
Walker presses ANS producers for more progress on LNG export project
Alaska Gov. Bill Walker (I) notified three Alaska North Slope oil and gas producers that he will consider other ways to generate revenue for the state if more progress is not made on reaching operating milestones for the Alaska Liquefied Natural Gas Project before the legislature completes its regular session. Source: News
PwC: US oil, gas M&A activity in 4Q lightest in 5 years
A “sharp contraction” of crude oil prices and “limited access to the capital markets” in 2015 resulted in the least fourth-quarter merger and acquisition activity in the US oil and gas industry in 5 years, according to analysis from PwC US. Source: News
Athabasca Oil enters venture with Murphy Oil for development in Alberta
Athabasca Oil Corp. has agreed with the Canadian unit of Murphy Oil Corp. to jointly develop the Duvernay and Montney in the Kaybob area in west-central Alberta. The transaction is valued at $475 million (Can.) Source: News
Clarksons: World mobile offshore drilling rig utilization drops to 73%
Worldwide mobile offshore drilling rig utilization dropped to 73% from 87% during last year, the lowest utilization level in 30 years, Clarksons Research Services Ltd. of London reported in its Offshore Drilling Rig Monthly. Source: News
Woodside lets Greater Western Flank subsea contract
Woodside Petroleum Ltd. has let a $180-million contract to FMC Technologies for the design, manufacture, and supply of subsea production systems for the Greater Western Flank Phase 2 (GWF-2) project on the North West Shelf offshore Western Australia. Source: News
Shell, BG shareholders both approve merger
The shareholders of both Royal Dutch Shell PLC and BG Group PLC have both approved the proposed merger of the two companies, and the deal is set to close on Feb. 15, some 10 months after it was first reported. Source: News
Total lets contract for Antwerp refining operations
France’s Total SA has let a long-term contract to Praxair Inc., Danbury, Conn., to supply industrial gases to its refining and petrochemical platform in Antwerp, Belgium. Source: News
MARKET WATCH: NYMEX, Brent crude oil prices gain on Russia-OPEC talk speculation
Light, sweet crude oil prices settled above $32/bbl on the New York market Jan. 27 while Brent crude prices settled above $33/bbl. Analysts attributed the price support to speculation that some major producers might consider cutting oil output. Source: News
BHP Billiton: Trinidad and Tobago deep water could contain top-tier prospect
The deep water offshore Trinidad and Tobago represents the possibility of a “Tier 1” prospect for BHP Billiton Petroleum (BHPB), David Rainey, president of exploration, told delegates early last week at the annual Trinidad & Tobago Energy Conference hosted by the Energy Chamber of Trinidad & Tobago in Port of Spain. Source: News