EnergyNord Stream 2 sanctions would be counter-productive for European ties - Biden
Reuters
3 minute read
Pipes for the Nord Stream 2 Baltic Sea pipeline are stored on a site at the port of Mukran in Sassnitz, Germany, September 10, 2020. REUTERS/Hannibal Hanschke
U.S. President Joe Biden on Tuesday said he decided to waive sanctions against the company behind the Nord Stream 2 gas pipeline because the project was nearly complete, and doing so could have harmed ties with Europe.
Biden, who is preparing for his first visit to Europe and his first meeting with Russian President Vladimir Putin next month, told reporters he had opposed the new pipeline since its inception, but held off on sanctions because it was almost completely finished by the time he took office in January.
Mexico should recover its investment to buy the controlling stake of the Deer Park refinery in Texas during the next two to three years, President Andres Manuel Lopez Obrador said on Wednesday.
Reuters
3 minute read
A sign is seen overturned from Hurricane Laura as traffic moves bumper to bumper along I-10 west as residents evacuate ahead of the arrival of Hurricane Delta in Vinton, Louisiana, U.S., October 8, 2020. REUTERS/Adrees Latif
U.S. oil and natural gas companies are gearing up for this year s forecast of an above-average Atlantic hurricane season, a security and emergency expert with the American Petroleum Institute (API) said on Wednesday.
Last yearâs record 30 named storms forced shutdowns of offshore oil production that reached, at one point, 90% of 1.9 million barrels per day in production and idled refineries for weeks.
EnergyEXCLUSIVE JX Nippon seeks $1.5 bln for UK North Sea oil, gas fields - sources
Ron BoussoShadia Nasralla
2 minute read
JX Nippon Oil & Energy Corp s logo is seen at its refinery in Yokohama, Japan February 7, 2017. REUTERS/Kim Kyung-Hoon/File Photo
Japan s JX Nippon wants to sell its British North Sea oil and gas assets including stakes in some of the basin s biggest fields in a deal that could fetch up to $1.5 billion, five banking sources said.
The sale is the latest deal in the North Sea marking the handover of assets from oil majors to private companies, which say they can better exploit remaining reserves than huge companies focusing on the energy transition. read more
United KingdomFactbox: UK North Sea oil and gas fields bought by private groups
Reuters
1 minute read
Tailwind, a private oil producer backed by commodity trader Mercuria, has agreed to buy BP s stake in the Shearwater oilfield in the British North Sea, it said on Monday. read more
The British North Sea has been undergoing a changing of the guard with oil majors selling oil and gas fields to private equity-owned groups.
The new owners say they can squeeze out more and cheaper barrels from North Sea fields than big companies, making faster decisions and specialising in North Sea extraction.
Here is a list of recent deals: