Post Tagged with: "Contract"

Canada’s Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

Canada’s Largest Oil Producer Joins Opposition to Enbridge Pipeline Plan

From Reuters Canadian Natural Resources Ltd, the country’s biggest oil producer, has joined a number of other firms asking Canada’s energy regulator to intervene in Enbridge Inc’s plan to overhaul shipping contracts on its Mainline pipeline network. Canadian Natural’s letter to the National Energy Board (NEB), filed late on Monday, calls on the regulator to delay Enbridge’s proposal to switch to long-term, fixed-volume contracts on 90% of the Mainline. ConocoPhillips Canada, a unit of the U.S. oil major, also wrote to the NEB on Monday asking for the process to be delayed because of the “avoidable uncertainty” it created for Canadian producers. Suncor Energy Inc, MEG Energy Corp, Royal Dutch Shell Plc, Japan Canada Oil Sands Ltd (JACOS) and the Explorers and Producers Association of Canada previously wrote to the regulator expressing concerns about the planned changes. Enbridge launched a two-month open season on Aug. 2 to solicit bids for[Read More…]

Halliburton Lands Nine Contracts for Offshore Project in West Africa

Halliburton Lands Nine Contracts for Offshore Project in West Africa

From The Houston Chronicle Houston oilfield service company Halliburton has landed nine contracts to drill and complete a series of wells off the coast in West Africa. Australian exploration and production company Woodside Energy awarded the contracts to Halliburton as part of the first phase of developing the SNE Field off the coast of Senegal. Financial terms have not been disclosed but Halliburton reported that the contracts contingent on Woodside making a final investment decision to move forward with the ambitious offshore project. If the project reaches a positive final investment decision, the drilling campaign could start in late 2020 or early 2021 with 18 wells and up to eight optional wells over an estimated 3- to 4-year term. Halliburton’s contracts awarded include drilling, logging, cementing, lower completions, e-line/slick line, coiled tubing and well testing services. “We are excited to win this work and to provide services from our multiple[Read More…]

Source: Borr Drilling

Borr Drilling Awarded Contract by Pemex

By Tyler Losier, Energy Reporter, Oil & Gas 360 Borr Drilling is awarded its fourth Mexican contract in less than nine months Borr Drilling (stock ticker: BORR), an international drilling contractor headquartered in Bermuda, has been awarded a contract by Petróleos Mexicanos (Pemex) for the employment of a jack-up drilling rig. Previously, the company has entered into two other similar contracts with Pemex. The first rig, the Grid, has arrived on site and is currently commencing operations, and the second rig, the Gersemi, is expected to commence shortly thereafter. The design of the Grid and the Gersemi (source: Borr Drilling) The Grid and the Gersemi, both Liberian-flagged self-elevated drilling units, have an operati… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Saudi Aramco Gives Up Its Long-Held ‘In Perpetuity’ Oil and Gas Rights

Saudi Aramco Gives Up Its Long-Held ‘In Perpetuity’ Oil and Gas Rights

From Financial Times Kingdom’s switch to a 40-year contract reveals power struggle with state energy group The move came as part of the kingdom’s preparations for a stock market flotation for Saudi Aramco, which has been indefinitely delayed Saudi Arabia has cut the length of time that its state energy company has exclusive rights to the kingdom’s vast oil and gasfields, raising questions about Saudi Aramco’s long-term production and revealing a power struggle between the company and the government. Saudi Aramco’s concession agreement with the state has limited the amount of time in which the group can explore and develop resources to 40 years — from a previous contract that gave it access in perpetuity. There will be an option to renew the contract. The move, three people briefed on the matter said, came as part of the kingdom’s preparations for a stock market flotation of Saudi Aramco, which has[Read More…]

August 27, 2018 - 3:07 pm Closing Bell Story, Energy News, OPEC
Source: Enbridge

Keystone XL Pipeline on Track to Begin Primary Construction in 2019

Open season for Keystone’s additional capacity from Canadian oil producers to U.S. refineries secures 500,000 BOPD 20-year commitments The Keystone XL open season has concluded with 500,000 BOPD 20-year commitments secured. This allows the proposed project to proceed. TransCanada Corporation (ticker: TRP) said that interest in the pipeline remains strong and the company will continue to secure long-term volume contracts. “Over the past 12 months, the Keystone XL project has achieved several milestones that move us significantly closer to constructing this critical energy infrastructure for North America,” said Russ Girling, TransCanada’s president and CEO. “We thank President Donald Trump and his administration for their continued support and appreciate the ongoing efforts of Nebraska Governor Pete Ricketts, the Nebraska legislative and congressional delegation, Omaha Federation of Labor, Nebraska State AFL-CIO, our customers and various stakeholders to advance this project. “Furthermore, we appreciate Alberta Premier Rachel Notley for her government’s commitment to[Read More…]

Cheniere Signs Another 15-Year LNG Contract

Cheniere Signs Another 15-Year LNG Contract

Cheniere Energy, Inc. (ticker: LNG) and its subsidiary Cheniere Marketing, LLC have entered into a LNG sale and purchase agreement (SPA) with Trafigura Pte Ltd., a Geneva-based independent trader of oil and petroleum products. Trafigura’s LNG team is based in Houston, Geneva and Singapore. Trafigura has agreed to purchase approximately 1 million tons per annum of LNG from Cheniere Marketing on a free on-board basis for a term of 15 years beginning in 2019. The purchase price for LNG is indexed to the monthly Henry Hub price, plus a fee. “We are pleased to announce this long-term SPA with Trafigura, an important player in the global LNG market. We expect this SPA to help support Cheniere’s expansion plans, and we look forward to a successful long-term relationship with Trafigura as a customer,” said Cheniere President and CEO Jack Fusco. “We are pleased to have signed a long-term SPA with Cheniere[Read More…]

January 16, 2018 - 2:21 pm Closing Bell Story, LNG, Oil and Gas 360 Articles
Canadian Govt. Signs Decade-Long NatGas Contract

Canadian Govt. Signs Decade-Long NatGas Contract

The Government of Canada has named Direct Energy Business as their new natural gas provider for Correctional Services Canada, the Department of National Defence and Public Services, and Procurement Canada. Direct Energy Business will provide natural gas management and related services for the next ten years to these critical government departments in Alberta, British Columbia, Saskatchewan, Manitoba, Ontario, Quebec, Nova Scotia, and New Brunswick. The contract is based on an annual natural gas consumption of 10 Bcf being awarded after an extensive RFP process. Throughout this ten-year contract, Direct Energy Business will provide strategic advice to mitigate future risks of cost volatility, billing consolidation, data management, consumptive studies, budget estimates, and delivery of natural gas. This new comprehensive data amalgamation will enable detailed tracking and analysis of the majority of the Government of Canada’s natural gas usage, identify areas for investment and enable more accurate reporting to Canadians and the[Read More…]

December 11, 2017 - 4:56 pm Canada, Closing Bell Story, Oil and Gas 360 Articles
China’s Crying Need for NatGas—a Discovery in Bohai’s Shallow Water, LNG Demand Booming

China’s Crying Need for NatGas—a Discovery in Bohai’s Shallow Water, LNG Demand Booming

China on a tear to expand domestic gas output and diversify its natural gas imports China’s quest for natural gas “China supports domestic enterprises to increase natural gas output and at the same time to diversify imports of the resource,” said spokesperson Gao Feng at a regular press conference, Hellenic Shipping News reported. China’s natural gas import is expected to rise as new cross-border gas pipelines and liquefied natural gas terminals will be put into use, a Ministry of Commerce spokesperson said. Calling imports “a significant source” of China’s natural gas supply, Gao attributed increasing imports to rising domestic demand and the improvement of infrastructure facilities. “Statistics from China’s customs showed that from January to October of this year, China’s natural gas imports rose 24.9 percent year on year to 54.165 million tonnes. Of the figure, liquefied natural gas (LNG) imports surged 47.7 percent to a record high of 29.092[Read More…]