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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.

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IFQC annual ranking of gasoline sulfur standards sees progress around the world; US drops to 46th

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A trio of European countries and one from South America made major strides in reducing their levels of sulfur content in gasoline, allowing them to advance in the annual global ranking published by Hart Energy’s International Fuel Quality Center (IFQC). Sulfur is found naturally in crude oil.

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MIT Report Finds Natural Gas Has Significant Potential to Displace Coal, Reducing Greenhouse Gas Emissions; Role in Transportation More Limited

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The use of compressed or liquefied natural gas as a fuel for vehicles could help to displace oil and reduce greenhouse gas emissions, but to a limited extent because of the high cost of converting vehicles to use these fuels. Professor Jacoby is co-director of the MIT Joint Program on the Science and Policy of Global Change.

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