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Oil & Gas

IEA: Canada can become global energy power but needs to manage costs

Canada can profit immensely from its oil industry if it plays its cards wisely and manages to keep project costs at a reasonably low level, according to the International Energy Agency.
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Canadian pipeline operators to assume liability for oil spill damage under new rules

Canada is toughening its rules concerning pipeline safety and response to spill damages, transferring the responsibility for oil spills to pipeline companies and making them liable for all costs associated with accidents.
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Canada, US improve oil & gas industry logistics

Even though Canadian pipeline operators are experiencing difficulties in having major projects approved by U.S. authorities, the links between Alberta's oil fields and refineries south of the border are getting better.
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Exxon focuses on LNG sales on Asian spot market

Exxon Mobil Corp. has been involved in negotiations with customers in Asia regarding sales of liquefied natural gas on the spot market.
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Gazprom signs 30-year gas delivery contract with China

Russia and China have signed a historic 30-year gas delivery deal that is estimated to be worth more than $400 billion.
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House of Lords committee calls for 'urgent' fracking regulation in UK

The UK urgently needs to regulate fracking, so that the country's economy can start benefiting from the opportunities created by shale gas.
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Oil & gas industry contributes £35 billion annually to UK economy

Although oil prices are persistently high and production is declining in the UK, the outlook for the oilfield services industry is very positive.
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Domestic demand to fuel Russia's petrochemical industry growth

The Russian petrochemical industry is set to benefit from increasing domestic demand over the medium term, with non-oil industrial sectors emerging as the strongest driving force for growth.
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Petronas to build $27 billion refinery complex

Malaysia's state-owned oil and gas company Petronas has announced plans to invest $27 billion in the construction of a new refining and petrochemical complex in the southern state of Johor.
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Chevron signs renewed agreement for shale development in Argentina

U.S. energy giant Chevron Corporation has announced plans to invest more than $1.6 billion to develop shale reserves in Argentina.
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