International

Crescent Point Energy Corp. has agreed to acquire a package of liquids-rich assets in the Montney Shale of Alberta in an all-cash deal with Spartan Delta Corp. valued at C$1.7 billion ($1.2 billion). Spartan said the agreement would reward its stockholders with a payment of C$9.50 ($7.12)/share. “Over the past five years, we have fundamentally…

Despite holding the world’s second largest natural gas reserves and having Russia as a new partner, Iran faces challenges to revive one of its three LNG export projects. Iran, the world’s third largest gas producer, shares the giant North Dome/South Pars field with Qatar, but it has fallen far behind in developing its reserves to…

U.S. exploration and production (E&P) firms last week approached the pandemic-era peak oil output level as catalysts for global demand gather and benchmark crude prices recover from fears imposed by financial system upheaval. E&Ps churned out 12.2 million b/d for the week ended March 24, according to the U.S. Energy Information Administration’s (EIA) Weekly Petroleum…

Calgary-based pipeline giant Enbridge Inc. has agreed to spend $1 billion in a U.S. development with Divert Inc. to turn food waste into renewable natural gas (RNG).  The investment is part of a plan to develop facilities in major U.S. regions within 100 miles of 80% of the population, according to the companies.  “The infrastructure…

The European Union (EU) has been eyeing a boom in Eastern Mediterranean natural gas production to ease price volatility, but new research suggests more volumes could be a mid-term source of relief rather than a long-term solution. In a report for Columbia University’s Center on Global Energy Policy, the authors posit that as much as…

A consortium of investment groups is planning to acquire Origin Energy Ltd., Australia’s largest integrated utility, in a deal that could make ConocoPhillips upstream operator of the natural gas fields that feed the Australia Pacific LNG (APLNG) facility. Brookfield Renewable Partners LP and U.S.-based institutional energy investor EIG reached an agreement with Origin’s board to…

Saudi Arabian Oil Co. is taking a 10% stake in a Chinese petrochemical company to expand its crude oil presence in the country. Aramco, as it is known, said it would pay around $3.6 billion to buy the interest in Rongsheng Petrochemical Co. Ltd.  Aramco Overseas Co. (AOC) would manage the stake. Under a long-term…

As an influx of additional LNG volumes are set to hit markets later this decade, the next wave of long-term contracts – mostly by Asian buyers – could push global prices toward an “unprecedented moment,” according to Columbia University’s Center on Global Energy Policy (CGEP). CGEP researcher Ira Joseph said in a recent note that…

LNG vessel rates continue to plunge, recently hitting some of their lowest points in months, as more ships have become available to move the super-chilled fuel, particularly in the Atlantic Basin. Spark Commodities on Thursday assessed the roundtrip cost of moving an April cargo from the United States to Europe at $49,500/day, down $1,000 from…