ExxonMobil to Move Out of North Sea Oil & Gas
ExxonMobil has recently announed that they are planning to leave the North Sea Oil & Gas industry. The company, one of the largest international oil and gas providers, is in talks with a number of other firms for the sale of its stakes in 40 Oil & Gas fields, with total expected value of £1.6 billion (USD $2 billion).
Husky Begins Production at Saskatchewan Thermal Project
Husky Energy has commenced production at its Dee Valley thermal project in Saskatchewan, the second of six 10,000 bpd thermal bitumen projects to be brought onstream from 2018 to 2022.CEO Rob Peabody said, “These projects have direct access to our refining hub in Lloydminster and can be transported via committed export pipeline capacity to our refineries and other U.S.
Woodfibre LNG to Move Forward With $1.6 B Project
Woodfibre LNG, a Canadian subsidiary of Singapore’s Pacific Oil & Gas Ltd., is finalizing the engineering, procurement and construction contract for their $1.6 billion LNG export facility in Squamish, British Columbia.
Chevron and Qatar Plan $8 Billion Petrochemical Plant
Chevron Phillips Chemical Co. and Qatar Petroleum have agreed to develop an $8 billion petrochemical plant in the Gulf Coast region.
Cleantech Investment Coming to Canada’s Oil& Gas Sector
The Honourable Kent Hehr, Member of Parliament for Calgary, on behalf of the Honourable Amarjeet Sohi, Canada's Minister of Natural Resources, announced $2.1 million in funding for Linear Motion Technologies (LMT) Canada to design and test a new, cost-saving electric valve system that will reduce greenhouse gas emissions.The new valve design could replace the thousands of existing pneumatic valves used to control oil flow rate, pressure and temperature at oil and gas sites.