United States & Canada

Lightsource BP to power historic Colorado steel mill with 240MW solar plant

September 30, 2019 | Renewable Energy, Solar, United States & Canada

London, UK | – Lightsource BP will build and operate a 240MW solar facility that will sell energy to Midwestern utility Xcel Energy to power operations at a historic Colorado steel mill for 20 years. The project partners, which count steel maker EVRAZ North America, are touting the project as the largest on-site solar facility dedicated to a single customer in the US. The US$250 million solar plant will be located on EVRAZ’s Rocky Mountain steel property in the central Coloradan city of Pueblo. The …

Occidental triumphs over Chevron with a $57bn deal to acquire Anadarko

May 10, 2019 | Asset Acquisitions & Divestitures, United States & Canada

Sells African assets to Total for $8.8bn London, UK | – American  international oil and gas exploration and production company,  Occidental Petroleum has clinched the deal to acquire Anadarko Petroleum Corporation  as Chevron decided not to better its initial offer to counter Occidental’s $57bn bid. In a statement, Chevron stated that it will allow the four-day match period to expire and expects that Anadarko will terminate the earlier signed merger deal.  As per the terms of the merger agreement, Chevron will be eligible to receive a $1bn …

Shell moves ahead with £23bn Canada LNG project

October 05, 2018 | Budget & Investment, LNG & LPG, United States & Canada

London, UK | –  Two of Royal Dutch Shell’s Asian partners in a liquefied natural gas venture in western Canada approved their share of the investment, pushing the multibillion-dollar development one step closer to a final approval. The board of PetroChina, the nation’s largest oil and gas company, approved its $3.46 billion share of the LNG Canada project, the company said in a filing to the Hong Kong stock exchange Friday. Korea Gas Corporation made a similar announcement in Seoul about its stake. All the …

GE, Baker Hughes to divorce

June 27, 2018 | Asset Acquisitions & Divestitures, Company Operations, United States & Canada

London, UK | – Shares in GE surged on Tuesday following the announcement that the company would divest its stake in Baker Hughes, international media reported. The sale would likely take place gradually over a period of two to three years, Bloomberg reported. Baker Hughes, which attempted a merger with Halliburton that failed prior to its acquisition by GE a year ago, would presumably struggle on on its own, the report added. “Today marks an important milestone in GE’s history,” John Flannery, GE’s CEO, said in …

U.S shale producers renew challenge to OPEC

November 28, 2017 | Shale oil & gas, United States & Canada

London, UK | –  U.S. shale producers have started adding more drilling rigs in response to rising oil prices and improving confidence about the outlook for 2018. Experience shows changes in the number of rigs drilling for oil in the United States tends to follow changes in WTI prices with a lag of about 16 to 20 weeks. The active rig count peaked in mid-August and then declined through September and October, in response to the earlier peak and fall in prices between February and …

Exxon sues U.S. over $2 million fine for breach of Russia sanctions

July 21, 2017 | Eastern Europe & Russia, Government & Regulations, Legal, United States & Canada

London, UK | – American multinational oil supermajor, Exxon Mobil Corporation must pay a $2 million fine for showing “reckless disregard” for U.S. sanctions on Russia while Secretary of State Rex Tillerson was the oil giant’s CEO, the Treasury Department said Thursday. Exxon sued the U.S. government to stop the fine. Treasury said that Exxon violated sanctions when it signed contracts in May 2014 with Russian oil magnate Igor Sechin, chairman of government-owned energy giant Rosneft. The U.S. blacklisted Sechin, Tillerson’s longtime business associate, as …

Halliburton acquires Summit ESP

July 06, 2017 | Oilfield Services, United States & Canada

London, UK | – American multinational corporation and one of the world’s largest oil field service companies, Halliburton has announced the acquisition of Summit ESP, a leading provider of electric submersible pump (ESP) technology and services. The addition of Summit’s artificial lift offerings and industry-leading customer service strengthens Halliburton’s artificial lift portfolio for its global customers. “The acquisition of Summit expands Halliburton’s existing artificial lift capabilities and increases our overall leading position in North America oilfield services,” said Jeff Miller, president and CEO of Halliburton. …

Trump dismays, angers allies by abandoning global climate pact

June 02, 2017 | Health, Safety & Environment, Renewable Energy, United States & Canada

London, UK | – President Donald Trump on Thursday said he would withdraw the United States from the landmark 2015 global agreement to fight climate change, drawing anger and condemnation from world leaders and heads of industry. Trump, tapping into the “America First” message he used when he was elected president last year, said the Paris accord would undermine the U.S. economy, cost U.S. jobs, weaken American national sovereignty and put the country at a permanent disadvantage to the other countries of the world. “We’re …