Financial

BP plc Group CEO Bob Dudley on Thursday said 2013 will be a “year of execution,” to build financial reserves, followed by a “year of delivery” as it prepares to launch a portfolio of 45 major upstream projects to 2020.

BP plc Group CEO Bob Dudley on Thursday said 2013 will be a “year of execution,” to build financial reserves, followed by a “year of delivery” as it prepares to deliver a portfolio of 45 major upstream projects to 2020.

Connecticut Gov. Dannel Malloy’s energy plan, which calls for the construction of 900 miles of natural gas mains and a host of financial and regulatory changes to make gas available to as many as 300,000 homes and businesses, would cost the state’s natural gas local distribution companies (LDC) $2.26 billion, according to the state’s Public Utilities Regulatory Authority (PURA).

Connecticut Gov. Dannel Malloy’s energy plan, which calls for the construction of 900 miles of natural gas mains and a host of financial and regulatory changes to make gas available to as many as 300,000 homes and businesses, would cost the state’s natural gas local distribution companies (LDC) $2.26 billion, according to the state’s Public Utilities Regulatory Authority (PURA).

Nexen Inc. and CNOOC Ltd. have pushed back by 30 days the completion of the Canadian company’s C$15.1 billion takeover by the arm of state-controlled China National Offshore Oil Co.

Europe’s EDF Trading has acquired ConocoPhillips’ Midwest commercial and industrial (C&I) natural gas portfolio, the EDF Group subsidiary said Thursday. Financial details of the transaction were not disclosed.

Chevron Corp. subsidiary Chevron Canada Ltd. will acquire a 50% operating interest in the Kitimat, British Columbia (BC), liquefied natural gas (LNG) export project and proposed Pacific Trail Pipeline (PTP), and a 50% interest in 644,000 acres of petroleum and natural gas rights in the Horn River and Liard basins in BC, and be a partner in the project and acreage with Apache Corp., the companies said Monday.

Williams, which has been expanding its onshore presence in the Marcellus and Utica shales, late Tuesday snagged a deal to significantly expand its onshore footprint in a $2.4 billion transaction to acquire half of the natural gas pipeline system once owned by Chesapeake Energy Corp.

EQT Corp. plans to spend $1.5 billion on capital expenditures (capex), drill more than 170 wells and invest $320 million in midstream projects in 2013, according to the company’s operational forecast released Tuesday.