North America

Canada's Alberta Sees Budget Deficit Narrowing as Oil Prices Recover

The Canadian oil-producing province of Alberta estimated its 2021/22 budget deficit will shrink to C$18.2 billion ($14.5 billion), as its economy starts to recover from the damage caused by the coronavirus pandemic.

EIA: U.S. Crude Output Falls 10%, Refinery Runs Drop to 2008 Low

U.S. crude oil production dropped by more than 1 million barrels per day last week during Texas's deep freeze, equaling the largest weekly fall ever, and refining runs tumbled to levels not seen since 2008.

U.S. Trade Groups Urge Biden to Cap Natural Gas Prices After Texas Freeze

Trade groups representing U.S. public power and natural gas companies urged President Joe Biden to declare a gas emergency for last week's extreme weather and authorize the secretary of energy to cap the price of gas.

Canadian Trans Mountain Pipeline Seeks to Shield Insurers from Activist Pressure

Trans Mountain Corp, a firm that operates an oil pipeline owned by the Canadian government, has asked a regulator to keep the identities of its insurers private as activists push them to drop coverage.

An Alberta Petrochemical Complex is at the Heart of Brookfield's Inter Pipeline Bid

Inter Pipeline Ltd's ambitious petrochemical plant was meant to unlock new markets, instead it has left the Canadian company battling cost overruns and vulnerable to a hostile C$7.08 billion ($5.64 billion) takeover from Brookfield Infrastructure Partners.

Traders Supply Mexico With Emergency LNG After Power Crisis

Mexico's state-run power company resorted to LNG imports as natural gas supplies from the southern United States, especially neighboring Texas, were hit by frozen pipelines and rocketing prices caused by a cold snap.

U.S., Canada Move Past Keystone XL Toward Achieving Net Zero Emissions by 2050

U.S. President Joe Biden said that he and Canadian Prime Minister Justin Trudeau agreed to work toward achieving net zero emissions by 2050.

Historic U.S. Interior Pick Tests Senate Support for Biden on Climate

Deb Haaland, the first Native American ever picked for a U.S. cabinet post, was grilled by Republican Senators who want an Interior Secretary more welcoming of oil and gas drilling on federal lands.

Occidental Petroleum Posts Larger Quarterly Loss on Asset Sale

Occidental Petroleum Corp posted a larger-than-expected fourth-quarter loss despite higher oil and gas prices as an asset sale weighed on results.

U.S. Energy Regulator to Examine Climate Change's Threat to Power Reliability

FERC, which regulates the interstate transmission of electricity, oil and natural gas and approves fossil fuel projects such as pipelines, could play a big role in President Joe Biden's promise to make the power grid emissions-free by 2035.

Brookfield Launches Hostile Bid to Buy Canada's Inter Pipeline

Brookfield Infrastructure Partners said on Monday it formally launched its hostile bid to buy Inter Pipeline Ltd, weeks after the Canadian oil and gas transportation company rejected its unsolicited offer as inadequate.

Design and Engineering Starting for Oil Search’s Pikka Project in Alaska

Papua New Guinea-based Oil Search announced front-end engineering and design is beginning for phase 1 of its Pikka project on Alaska’s North Slope.

Oil Producers Eye Long Road to Recovery as Texas Thaws

Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources said.

Inter Pipeline Undecided on Strategic Options after Brookfield Offer

Canada's Inter Pipeline Ltd said no decisions have been made as it initiates a strategic review of its options, a week after rejecting an unsolicited bid from its largest shareholder, Brookfield Infrastructure Partners.

Venezuela Offers Natural Gas to Mexico, Experts Question Plan

Venezuela does not have a liquefaction plant to convert natural gas into LNG, which would be necessary to send the gas via sea to Mexico, industry experts said.

Texas Oil Refiners Will Take Weeks to Recover, Boosting U.S. Gas Prices

Texas oil refineries shut by cold-weather disruptions may take several weeks to resume normal operations, industry experts said on Friday, helping to push up fuel prices.

As Power Returns, Texas Energy Firms Slowly Emerge from Deep Freeze

Texas energy companies on Friday began preparing to resume oil and gas production after days of frozen shutdowns as electric power and water service slowly resumed at darkened oilfields and refineries.

Ford Shuts North American Plants due to Weather, Gas Supply Interruption

Freezing weather that interrupted gas supplies in the southern United States and Mexico was wreaking havoc on Thursday with car manufacturing plants, with Ford saying several of its assembly plants have been shut.

Texas Mandate to Bar Natural Gas Exports Likely Unenforceable

The Texas oil and gas regulator on Thursday alerted state natural gas producers of a directive to reserve their supplies for in-state electric generation even as one member questioned whether the directive could be enforced.

President Asks Mexicans to Ration Power as Texas Limits Fuel

Mexico's president asked consumers on Thursday to use less electricity in the evenings as a measure to help overcome shortages of natural gas from Texas, which is seeking to ban exports of the fuel during freezing weather.

Texas Oil Producers Still Shut; Governor Bans Natural Gas Exports

The Texas governor ordered a ban on natural gas exports from the state to try to speed the restoration of power, which could heavily impact Mexico.

U.S. LNG Exports Forecast to Exceed Pipeline Exports in 2022

EIA forecasts that U.S. liquefied natural gas (LNG) exports will exceed natural gas exports by pipeline in the first and fourth quarters of 2021 and on an annual basis in 2022.

Northern Mexico Hit With $2.7 billion Blackout due to Texas Freeze

Factories across parts of northern Mexico on Tuesday reported $2.7 billion in losses from blackouts that extended to a second day on limited natural gas supplies from Texas, where a rare winter freeze has left millions of users without light or heat.

Energy Transfer to Acquire Enable Midstream for $7 billion

Dallas-based Energy Transfer and Oklahoma City’s Enable Midstream Partners are merging after agreeing that Energy Transfer will acquire Enable for an all-equity $7.2 billion deal.

Texas Energy Sector Struggles to Thaw After Deep Freeze

Texas produces more oil and natural gas than any other U.S. state, and its operators, unlike those in North Dakota or Alaska, are not used to dealing with frigid temperatures.

Magellan Midstream Launches Open Season for Potential New Mexico Pipeline Expansion

The nearly 250-mile pipeline segment currently transports various grades of gasoline and diesel fuel from Magellan's terminal in El Paso, Texas to terminals in Albuquerque, New Mexico.

Texas Deep Freeze Hits Energy Sector

A deep freeze in Texas that started over the weekend continued to wreak havoc on the U.S. energy sector on Tuesday, grounding operations at the Houston Ship channel and curbing output in the nation's largest oil field in the Permian, while several of the biggest oil refineries remained offline.

Resurgent Canadian Natgas Producers Looking to U.S. Market

Canadian natural gas producers are bouncing back faster from the COVID-19 pandemic than battered U.S. shale firms, putting them in position to boost net gas exports to the United States for the first time in five years.

Oil Prices Close to 13-month Highs, Supported by Texas Cold Snap

Oil prices hovered near 13-month highs on Tuesday, supported by a U.S. cold snap that shut wells in Texas, though gains were capped by a Norwegian wage deal that averted supply disruptions in Europe.

Oil Refineries Shut as Texas Energy Industry Reels from Deep Freeze

A deep freeze across Texas took a toll on the energy industry in the largest U.S. crude-producing state, shutting oil refineries and forcing restrictions from natural gas pipeline operators.