PetroChina’s natural gas and crude oil transportation system, stretching from the country’s remote borders with Central Asia to major coastal cities, could be worth at least $85 billion via a spinoff, analysts at Sanford C. Bernstein and Jefferies Group, told Bloomberg.
The U.S. State Department today will approve the Presidential permit required to proceed with construction of the Keystone XL oil pipeline, previously blocked by former President Obama, two government sources told Reuters.
Energy Transfer Equity had the right to back away from the $33 billion merger with Williams Cos., the Delaware Supreme Court ruled, with the two rival pipeline giants still to argue over a $1.5 billion fee tied to the deal’s termination.
Total energy investment in the Middle East and North Africa (MENA) could approach $1 trillion over the next five years, according to the latest MENA Energy Investments Outlook, published by the Arab Petroleum Investments Corp. (APICORP).
New production projects and a fresh shale boom could boost oil output by a million barrels per day (MMBPD) year-over-year and result in an oversupply in the next couple years, according to Goldman Sachs.
Oil production in Ohio’s Utica Shale dropped sharply in fourth quarter 2016, while natural gas production continued to increase, according to a new report from the Ohio Department of Natural Resources.