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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. It is the second-largest oil producer in the UK North Sea.

Oil-Sands 325
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Study finds plausibly high volumes of Canadian oil sands crudes in US refineries in 2025 would lead to modest increases in refinery CO2 emissions

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An analysis of the US refining sector, based on linear programming (LP) modeling, finds that refining plausibly high volumes of Canadian oil sands crudes in US refineries in 2025 would lead to a modest increase in refinery CO 2 emissions (ranging between 5.4% to 9.3%) from a 2010 baseline, depending upon the supply scenario.

Oil-Sands 247
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USGS new estimates of global undiscovered, technically recoverable conventional oil and natural gas, excluding US

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USGS is the only provider of publicly available estimates of undiscovered technically recoverable oil and gas resources of the world. These new estimates are for conventional oil and gas resources only. These estimates include resources beneath both onshore and offshore areas.

Oil 218
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State Department releases final environmental impact statement on Keystone XL Pipeline Project; analysis of GHG emissions

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Comparison of the percent differential for WTW (well-to-wheel) GHGs from gasoline produced from WCSB oil sands using different production processes relative to gasoline produced from reference crudes. The proposed Project is not likely to impact the amount of crude oil produced from the oil sands. Click to enlarge.

Oil-Sands 253
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BP Egypt announces significant gas discovery in deepwater Nile Delta

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The wireline logs, fluid samples and pressure data confirmed the presence of gas and condensate in 38m (125 feet) net of Oligocene sands in Salamat. Further appraisal will be required to better define the field resources and to evaluate the options for developing the discovery. BP production and exploration in Egypt.

Egypt 199
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Suncor Energy and Petro-Canada To Merge

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In addition to having the largest oil sands resource position in Canada, the merged company will have the following characteristics: A resource base with approximately 7.5 Current crude oil and natural gas production of approximately 680,000 boe per day (boe/d). Oil sands (bbl/d). Suncor Petro-Canada.

Canada 150
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Shell signs new offshore upstream deals with CNOOC and CNPC; China and Gabon

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Shell has signed two offshore oil and gas Production Sharing Contracts (PSCs) with CNOOC, and a PSC amendment with CNPC for a new development phase for the Changbei gas field in China. Shell has also entered an agreement with CNOOC for its participation in two Shell exploration blocks offshore Gabon, West Africa.

Gabon 218