Colombia’s Ecopetrol plans first fracking project

Colombia’s state-run oil company, Ecopetrol, has applied for a permit to launch the country’s first hydraulic fracturing project, targeting unconventional resources in Magdalena Medio, central Colombia. According to CEO Felipe Bayon, the company filed a permit request with the country’s environmental agency and upon approval, the project could start in 2019. He didn’t say, however, when … Read more

Chevron in talks to buy Petrobras’ Texas refinery: sources

U.S. oil supermajor Chevron has held talks to acquire Pasadena Refining System Inc., (PRSI), a Texas oil refinery owned by Brazilian state-run oil firm Petroleo Brasileiro SA (Petrobras), three people familiar with the situation told Reuters. You have reached your allocation of free articles this week. Don’t despair you can keep reading the news. Subscribe or start … Read more

Saudis could invest $5B in Russia’s Arctic LNG 2

      Saudi Arabia is willing to put some $5 billion into the $25 billion Russian liquefied natural gas (LNG) project Arctic LNG 2, Russian Direct Investment Fund (RDIF) CEO Kirill Dmitriev said Tuesday. “The Saudi energy minister has announced the possibility of investing around $5 billion in the Arctic LNG 2 project,” Dmitriev told … Read more

U.S. LNG 25% cheaper than Russian gas: PGNiG

As Poland announced the first U.S. liquefied natural gas (LNG) import deal in Central Europe, state oil and gas company PGNiG says importing North American gas is 25% cheaper than buying Russian gas. Speaking at a press conference on Wednesday, PGNiG CEO Piotr Woźniak said Poland pays roughly a quarter less for U.S. gas than for Russian product, … Read more

Dominion Energy wants to keep Surry NPP running to 2053

Dominion Energy on Tuesday filed an application with the U.S. Nuclear Regulatory Commission to renew the operating licenses for its Surry Power Station, Kallanish Energy reports. The Virginia-based company wants to renew the licenses for the two-reactor nuclear power plant (NPP) acility for another 20 years, The current permits allow Dominion Energy to operate Surry’s … Read more

NN Group won’t invest in oil sands projects, pipelines

      An international financial services company has announced its withdrawal from financing tar sands oil and pipeline projects in Canada and the U.S., Kallanish Energy reports. The announcement of new investment restrictions from the Netherlands-based NN Group came last week. The company that manages 240 billion euros ($277.13 billion) said it would not … Read more

U.S. renews pressure against Iran-Pakistan gas pipeline: official

      The Trump administration is preventing the Iran-Pakistan natural gas pipeline to be completed, Iran’s parliament speaker, Ari Larijani, said this week following a meeting with Pakistani officials in Turkey, Kallanish Energy reports. The 1,724-mile gas pipeline, designed to supply South Pars gas to Pakistan, has previously stalled amid pressure from the U.S. … Read more

North American O&G industry faces $240B of maturities through 2023

      The quality of debt issued by the North American oil and gas industry has changed substantially – and not in a good way — over the past two years, Moody’s Investors Service says in a new report. While low-rated companies issued almost no debt between mid-2015 and mid-2016, since that time, “B”-rated … Read more


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