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Oil & Gas

Canadian oil company to develop existing assets amid rising North Sea investments

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Canadian oil and gas company CNR International, Inc. is looking to take advantage of a recently introduced tax break and invest more than $470 million in one of the oldest North Sea oil fields.
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EIA report revises global shale oil and gas reserves upwards

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Global reserves of shale-based resources push up the world's total potential oil reserves by 11 percent and natural gas reserves by 47 percent.
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French parliamentary commission calls for change in fracking ban

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Hydraulic fracturing has once again become an issue of heated debate in France, as political parties, industries and the public have all shared different opinions about using the technique to drill for shale gas and oil.
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US imposes sanctions on Iran's petrochemical sector

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The United States is imposing sanctions on Iran's petrochemical industry in a bid to cut off funds that the Islamic republic might use for developing its nuclear program.
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Canadian refineries ramp up crude exports from US

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Canadian refineries are working to increase their use of crude oil from the United States, particularly from Texas and North Dakota.
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Statoil finds new oil reserves in North Sea

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Shortly after it announced what is considered to be the biggest oil discovery in the North Sea for decades, Statoil said it had made a new discovery in the area, this time in the Grane field.
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Global petrochemical producers rethink strategies to remain competitive

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Most petrochemical businesses have already come to the realization that the U.S. natural gas-based feedstock is giving those who use it a great advantage in terms of costs.
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Enbridge applies for capacity extension of Alberta Clipper pipeline

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Calgary-based pipeline transport company Enbridge is seeking U.S. approval to increase the capacity of a pipeline carrying crude from Alberta to Wisconsin.
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ExxonMobil, Qatar Petroleum sign deal for natural gas liquefaction project in Texas

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The agreement establishes a commercial framework to sell up to the full 15.6 million metric ton annual (MTA) output of the Golden Pass Products liquefaction project.
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Odebrecht to invest heavily in Latin America

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Brazilian conglomerate Odebrecht announced May 1 plans to invest $20 billion globally over the next three years, 85 percent of which will be invested in Latin America.
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