Encana, the Calgary-based oil giant, has increased its investments in Texas Oil Fields despite a disastrous performance in the last 12 months following the steep decline in oil prices. “The timing was woeful, of course. Encana, led by new CEO Doug Suttles, bought its Texas oil at the top of the market, just before oil prices… Keep reading →
Chevron has signed a $10 bin, 50-year agreement with the government of Ukraine to explore for and develop oil and gas in the Olesska field in the western part of the country. Chevron is expected to spend $350MM for exploration over two to three years. Ukraine has a strong interest in developing its domestic resources as a means of reducing… Keep reading →
The pace of change in the North American natural gas business has accelerated in recent months, with the US Department of Energy approval process for exports to non-free trade agreement countries failing to stop the achievement of major project milestones and new technology innovations driving market expansion. Four projects have been approved by DOE for… Keep reading →
Rural landowners and a First Nation are up in arms of the appointment of Gerry Protti, former Encana executive and founding member of Canadian oil and gas lobbying group CAPP, to the office of Alberta Energy Regulator. The regulator also has environmental responsibilities. [Calgary Herald] British Columbia Premier Christy Clark is pushing to finalize a… Keep reading →
Oil sands producers found themselves in the midst of a fresh attack from the environmental community when a new study released Monday identified levels of oil sands-related contamination that appear to have intensified since the beginning of commercial development to present day. Core samples extracted from 6 regional lakes showed the presence of polycyclic aromatic hydrocarbons up to 50 miles north of Fort McMurray, Alberta – the hub of oil sands mining activity.
“Our research tells a consistent story of increased contaminants and ecological change that has occurred in the region since industrial development of bitumen resources began,” Joshua Kurek, a postdoctoral fellow at Queen’s University, Department of Biology is quoted as saying on the university’s website. Keep reading →
Chevron’s financial strength, LNG operational experience and marketing expertise could help the project reach important sales and purchase offtake agreements with buyers. Keep reading →
Encana and Ferus LNG enter into joint venture to build liquefied natural gas fuel plant in Western Canada http://ow.ly/gd4cgBy Peter Gardett
Encana and Ferus LNG enter into joint venture to build liquefied natural gas fuel plant in Western Canada http://ow.ly/gd4cg encanacorp
For much of the past decade the answer to almost any major economic question had at least a little bit of “China” in its answer, and for energy the growth of what has become the world’s second largest economy and remains its most populous nation has been central to market growth and disruption.
Without China’s growth, oil prices would have been lower, leavening the expensive and much-debated fight over the race to renewable power in the US. With less growth in China, natural gas companies in the US might have had fewer buyers for their barely profitable (or even loss-making) fields as the technology developed to expand production in turn brought down prices. Keep reading →