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China’s CNOOC to acquire Canada-based Nexen for $15.1B; offshore oil and gas, oil sands, and shale gas

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CNOOC Limited—China’s largest producer of offshore crude oil and natural gas and one of the largest independent oil and gas exploration and production companies in the world—is acquiring all of the Common Shares of Canada-based energy company Nexen Inc. billion cash. The price represents a premium of.

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Obama Administration announces 21M-acre oil and gas lease sale offshore Texas

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The US Department of the Interior will offer more than 21 million acres offshore Texas for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Western Gulf of Mexico Planning Area. Ultra-deep gas royalty relief required under EPAct will still be available.

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EPA proposes new rulemaking for sharp cuts in methane emissions from oil and gas industry

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The US Environmental Protection Agency (EPA) is proposing comprehensive new regulations to reduce methane emissions from the oil and natural gas industry—including, for the first time, reductions from existing sources nationwide. Source: EPA. billion a year.

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Nippon Oil: Gas Stations Will Pump Electricity and Hydrogen

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In an interview with the Nikkei, Shinji Nishio, president of Nippon Oil Corp., said that gas stations will transform into providers of electricity and hydrogen, in addition to gasoline. I often tell gas station managers that we must adapt to the changing times. Such vehicles may expand at an enormous rate from around 2015.

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National Academies Report Examines Hidden Cost of Energy Production and Use in US; Estimates $120B in 2005

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Health and other non-climate damages by life-cycle component for different combinations of fuels and light-duty automobiles in 2005 (top) and 2030 (bottom). GHG emissions (grams CO 2 -eq)/VMT by life-cycle component for different combinations of fuels and light-duty automobiles in 2005 (top) and 2030 (bottom). Click to enlarge.

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EIA: light duty vehicle energy consumption to drop 25% by 2040; increased oil production, vehicle efficiency reduce US oil and liquid imports

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Greenhouse gas (GHG) emission standards and CAFE standards increase new LDV fuel economy through model year 2025 and beyond, with more fuel-efficient new vehicles gradually replacing older vehicles on the road and raising the fuel efficiency of the LDV stock by an average of 2.0% per year, from 21.5 l/100 km) in 2012 to 37.2

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Canada targets cutting GHGs 30% below 2005 levels by 2030; new regulations for oil and gas, power, petrochemicals

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Canada Environment Minister Leona Aglukkaq announced that Canada plans to reduce its greenhouse gas (GHG) emissions by 30% below 2005 levels by 2030. The new regulations include: Regulations aligned with recently proposed actions in the United States to reduce GHG methane from the oil-and-gas sector.

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