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IHS Markit: US oil producers to halt 1.75 MMb/d per day of production; Canada to cut 0.5 MMb/d

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Due to the collapse in oil prices, IHS Markit expects US producers are in the process of curtailing about 1.75 The oil market fear that characterized March and the extreme price pressure that producers felt in April have galvanized producers across North America into unprecedented action. However, nearly 1.4

Oil 186
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TC Energy seeking $15B in damages from US after revocation of Keystone XL Presidential Permit

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Canada-based TC Energy Corporation has filed a Notice of Intent to initiate a legacy North American Free Trade Agreement (NAFTA) claim under the United States-Mexico-Canada Agreement to recover economic damages resulting from the revocation of the Keystone XL Project’s Presidential Permit.

Energy 186
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Government of Canada approves $11B Pacific NorthWest LNG Project

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The Federal Cabinet of the Government of Canada approved the $11-billion Pacific NorthWest LNG Project following completion of a federal environmental assessment. The facility would liquefy and export natural gas produced by Progress Energy Canada Ltd. in northeast British Columbia. For example, Pacific NorthWest LNG Ltd.

Canada 150
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Canada files to define outer limits of expanded Atlantic continental shelf; preliminary filing on Arctic, targeting North Pole

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On 6 December, Canada filed a submission to define the outer limits of its expanded continental shelf area in the Atlantic Ocean with the Commission on the Limits of the Continental Shelf. What we want to do is claim the biggest geographic area possible for Canada.”. Legal context. Click to enlarge. —Minister Baird.

Canada 230
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Calumet’s Montana Renewables became the largest SAF producer in North America in Q2

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Approximately 50% of renewable diesel production is currently being sold into Canada; all of the SAF is being delivered to Shell Aviation; and the renewable hydrogen plant capacity was demonstrated. In November 2021, Montana Renewables was separated both legally and commercially from Calumet Specialty Products Partners, L.P.,

Montana 150
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Chinas CNOOC to acquire Canadian oil sands producer OPTI for $2.1B

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an indirect wholly-owned subsidiary of CNOOC, will acquire oil sands producer OPTI Canada Inc for approximately US$2.1 The principal asset of OPTI consists of a 35% working interest in the Long Lake and three other oil sands project areas located in the Athabasca region of northeastern Alberta. CNOOC Luxembourg S.a

Oil-Sands 218
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Osum Oil Sands closes $500M private placement; new investors include government of Singapore

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Canada-based Osum Oil Sands Corp. billion barrels (net), ranking it third in the area next to Husky Energy and Shell Canada. Credit Suisse Securities (Canada), Inc., and Barclays Capital Canada Inc. Stikeman Elliot LLP acted as legal counsel to the KERN led shareholder group. Scotia Waterous Inc.

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