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Suncor Sells $395 Million Stake in Oilsands Storage Terminal East Tank Farm Development, Canada
November 27, 2017
Canada-based Suncor Energy has divested a stake of 49 percent in its East Tank Farm Development, an oilsands storage terminal in Alberta province to Fort McKay First Nation (FMFN) and Mikisew Cree First Nation (MCFN) for a sum of C$503m
Siemens to Cut Around 7,000 Jobs as Demand for Gas Turbines Falls
November 21, 2017
Siemens will lay off 6,900 jobs across its global energy business as part of a restructuring move, amid a decline in demand for traditional power generation. The technology group said that the decision is driven by accelerating structural changes faced
South Carolina Electric & Gas to Acquire Columbia Energy’s Gas-fired Power Plant for $180 Million
November 21, 2017
South Carolina Electric & Gas Company has entered into an agreement in principle to purchase a 540MW combined-cycle, natural-gas-fired power plant from Columbia Energy for $180m. Located in Gaston, S.C., the Columbia Energy Center plant is a combined heat and
Nebraska Regulators Approve Keystone XL Pipeline Construction
November 21, 2017
Nebraska regulators handed energy producers and President Donald Trump a major victory Monday after approving the hotly disputed Keystone XL Pipeline. The Nebraska Public Service Commission voted 3-2 to approve an expansion of the multi-billion Keystone line. It will pave
Pacific Drilling Files for Chapter 11 Bankruptcy Protection
November 20, 2017
Offshore oil and gas drilling firm Pacific Drilling has filed for bankruptcy protection under Chapter 11 in the US, in a bid to pursue a comprehensive restructuring of its approximately $3bn in principal amount of outstanding funded debt. The filing,
GulfMark Offshore Completes Restructuring Plan and Emerges from Chapter 11
November 20, 2017
GulfMark Offshore has completed its financial restructuring plan and emerged from bankruptcy protection under chapter 11 of the US Bankruptcy Code. The Company’s court-approved Plan of Reorganization (the “Plan”) went into effect today, November 14, 2017. The Plan converts approximately
Praxair and BASF to Build New Syngas Processing Plant, Louisiana
November 17, 2017
Praxair, Inc. and BASF signed a long-term agreement for Praxair to design, build, own, and operate a new syngas processing plant at BASF’s facility in Geismar, Louisiana. The new plant, which will start up in 2020, will produce high-purity carbon
Incremental Oil and Gas Starts Recompletion Program at Silvertip Gas Field in Bighorn Basin, Wyoming
November 16, 2017
Incremental Oil and Gas says that it has commenced the gas recompletion program at its Silvertip Field located in the Bighorn Basin, Wyoming, US. Following is the update given by the company for the Silvertip Field: • First Lance Formation
Chevron Phillips Opens Polyethylene Units at $6 Billion USGC Petrochemicals Project, Texas
November 16, 2017
Chevron Phillips Chemical Company has commissioned the two polyethylene (PE) units of its $6bn US Gulf Coast (USGC) Petrochemicals Project. Located in Old Ocean, Texas, the new PE assets will have capacity to produce up to 1,000,000 metric tons annually
Cenovus to Divest Its Stake in Weyburn Oil Project to Whitecap for $940 Million, Canada
November 16, 2017
Cenovus Energy has reached a deal to divest its stake of 62.1 percent in the Weyburn oil project in the Canadian province of Saskatchewan to Calgary-based Whitecap Resources for a sum of $940m. The Weyburn project is a carbon-dioxide enhanced
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