Cenovus cuts spending by another 20%, plans to shed more jobs

Cenovus Energy Inc., Calgary, has reduced its planned capital spending for 2016 by an additional 20% to $1.2-1.3 billion (Can.), down 27% from that of 2015 and 59% from that of 2014. The firm outlined its initial 2016 budget in December. Source: News

Shell advances AO capacity expansion at Geismar plant

Royal Dutch Shell PLC subsidiary Shell Chemical LP has started construction on a $717-million project to increase alpha olefins (AO) production at its Geismar, La., chemical manufacturing plant, which post-expansion, will become the largest AO production site in the world. Source: News

Valero lets contract for Pembroke refinery

Valero Energy Corp., San Antonio, has let a contract to Wood Group PLC, Aberdeen, to provide onshore industrial services to the company’s Pembroke refinery located along the Pembrokeshire coast in southwest Wales, UK. Source: News

Analysis: Production freeze clouded by conditions, history

Although countries saying they’ll freeze oil production account for 25% of global supply, conditions of their Feb. 16 agreement and history offer little reason to expect much change in an oversupplied market. Source: News

Sierra Club files federal lawsuit regarding Oklahoma earthquakes, disposal wells

The Sierra Club has filed a lawsuit in US District Court for the Western District of Oklahoma against Chesapeake Operating LLC, Devon Energy Production Co. LP, and New Dominion LLC, saying injection wells have contributed to induced seismicity in Oklahoma and southern Kansas. Source: News

Gas flow reported from In Salah southern fields in Algeria

The In Salah Gas joint venture has started natural gas production from the 2,000-sq-km southern fields project, the latest phase of development of seven gas fields in central Algeria. Source: News