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Companies & Finance

ConocoPhillips Q3 profits fall 15%

ConocoPhillips’ third quarter earning fell by 15% to $2.62 billion with a net loss of $837 million compared to Q3 2010, the United States major reported on Wednesday.

27 October 2011
Companies & Finance

Hess Q3 profits fall on lower production levels

Hess Corporation, the United States oil and gas company based in New York, reported a drop in third quarter profits on Wednesday as firmer oil prices failed to support lower production levels.

27 October 2011
Supply & Demand

New England states need new capacity to meet future gas demand

ISO New England, the power grid operator for the six New England states - Vermont, Maine, New Hampshire, Massachusetts, Rhode Island, and Connecticut, forecast in its October 2011 Regional System Report that low natural gas prices are supporting the increasing use of natural gas for power generation and heating in New England.

25 October 2011
Policy & Regulation

Shell wins final approval for Beaufort Sea exploration

Royal Dutch Shell has won the US government’s final approval to begin its long-delayed plans for oil and gas exploration in Alaska’s Beaufort Sea in 2012, the United States Environmental Protection Agency (EPA) announced on Friday afternoon.

24 October 2011
LNG

There’s room for Royal Dutch Shell at Kitimat, says Encana

Royal Dutch Shell has bought the Kitimat Marine Terminal on Canada's Pacific Coast as a possible site for an LNG export terminal, the company confirmed to Interfax on Thursday.

21 October 2011
Policy & Regulation

US EPA plans shale gas wastewater standards

The United States Environmental Protection Agency (EPA) will develop standards for wastewater produced by natural gas extraction from underground coal-bed and shale formations in response controversy over contaminated water found near shale gas drilling sites.

21 October 2011
Companies & Finance

Kinder Morgan buys El Paso

Kinder Morgan agreed to buy Texas-based El Paso Corporation for $21.1 billion in cash and stock.

21 October 2011
Policy & Regulation

Chevron chief calls for a more supportive US energy policy

The United States government needs to recognise the value of fossil fuels and stop instituting policies that hinder the development of new projects, Chevron chief executive John Watson said in a speech on Wednesday at the Peterson Institute for International Economics in Washington.

20 October 2011
Companies & Finance

Williams splits E&P arm from its steadier pipeline unit

United States-based company Williams has decided to split its exploration and production branch from its pipeline business, forgoing a planned initial public offering (IPO) of the upstream unit because of the poor financial climate, the company announced on Tuesday afternoon.

19 October 2011
Companies & Finance

Encana’s focus remains on future partnerships asset sales, and reducing costs

Canada’s largest gas producer Encana will announce its third quarter earnings results on Thursday amid a tough operating environment as United States gas prices remain under $4 per million Btu (MMBtu).

19 October 2011
Pipelines, Storage & Power

KMI’s huge pipeline deal is safe haven in torrid environment

Kinder Morgan Inc. (KMI) will become the largest United States natural gas pipeline operator, more than doubling its network with the $21.1 billion cash and stock acquisition of Houston-based energy company, El Paso Corporation.

17 October 2011
Exploration & Production

BP welcomed back to the Gulf

Analysts have welcomed news that United States offshore regulators have decided to allow the UK’s BP to bid on new oil drilling leases in the Gulf of Mexico later this year.

14 October 2011
LNG

Canada’s regulator approves Kitimat LNG export license

The Kitimat LNG project, one of several planned LNG export schemes on the Canadian west coast, on Thursday became the first to be approved by the country’s regulator, the National Energy Board (NEB).

14 October 2011
LNG

North American LNG exports will kick-start prices

Gas prices in North America will remain depressed, until new export markets are discovered, an energy expert from an investment bank told Interfax on Tuesday.

12 October 2011
Companies & Finance

Sinopec buys Daylight Energy in $2.14 billion cash deal

China’s increased interest in foreign energy reserves have received a boost, with Sinopec’s purchase of Canada’s Daylight Energy.

10 October 2011
Exploration & Production

Enbridge beefs up British Columbia presence

Canada’s largest oil pipeline operator Enbridge is beefing up its presence in British Columbia, with the purchase of a $900 million stake in Encana's Cabin Gas Plant project. Encana appears to be selling the midstream asset to refocus on production.

10 October 2011
Policy & Regulation

US shale gas industry needs to fight together

Interfax talks with leading energy lawyer Ken Culotta, about why, rather than rejecting calls for greater regulation of fracking, the US shale gas industry should be encouraging it.

7 October 2011
Companies & Finance

Talisman trims its targets

Canada-based oil and gas company Talisman Energy has trimmed its production targets for 2011 for the second time in two months. Repairs at three of its North Sea oil projects, poor weather and lack of manpower at its gas fields in North America have all hit production, the company said in a statement on Wednesday.

6 October 2011
LNG

North American LNG export success needs price stability

The success of the continent’s LNG ambitions relied upon most variables remaining unchanged until 2014, say analysts.

5 October 2011
Policy & Regulation

Gas subsidised to tune of $90 billion in 2010

Among OECD countries, the United States, United Kingdom and Germany accounted for approximately $11.5 billion of natural gas subsidies in 2010, according to Interfax calculations.

4 October 2011

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