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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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PetroChina to Take 60% Working Interest in Two Oil Sands Projects for C$1.9B

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Athabasca Oil Sands Corp. The agreements also provide for certain financing arrangements for AOSC. Oil sands projects are very capital-intensive long-term investments and difficult to fully finance in the traditional equity market. billion (US$1.7 In 2007, Alberta granted China National Petroleum Corp.

Oil-Sands 150
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Opinion: Oil Megaprojects Won’t Stay On The Shelf For Long

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One casualty of the oil price downturn could be the megaproject. For years, as conventional oil reserves depleted and became increasingly hard to find, oil companies ventured into far-flung locales to find new sources of production. The collapse of oil prices, however, could kill off the megaproject.

Oil 150
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Government of Canada to buy Trans Mountain Pipeline System and Expansion Project for C$4.5B, resume planing and construction

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The 1,150-km (714-mile) Trans Mountain pipeline system (TMPL) is the only pipeline system in North America that transports both crude oil from the oil sands and refined products to the west coast. —Bill Morneau, Minister of Finance. billion (US$3.46 Earlier post.) This is an investment in Canada’s future.

Canada 199
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Perspective: Drive Star Conversion Program Could Cut US Oil Use in Half by 2020

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In a pre-response to that speech, having successfully advocated for plug-in hybrids like the forthcoming Chevy Volt, we propose that the President follow that speech up with a “realistic and conservative” roadmap to halve our oil use in 10 years. Oil is holding us all hostage, economically and physically. Finally, it’s time to begin.

Oil 252
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Coskata Unveils Semi-Commercial Feedstock-Flexible Ethanol Facility; Springboard for Full-Scale Commercial Rollout

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The process also uses less than half the water per gallon than required for the production of gasoline from conventional crude, and about one-third to one-quarter of the water per gallon required for the production of gasoline from oil sands oil, Bolson said. On average, approximately 3.0 Earlier post.).

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Devil in the Details: World Leaders Scramble To Salvage and Shape Copenhagens UNFCCC Climate Summit

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The 15 th Congress, also known as the 15 th Conference of Parties, or COP 15, was initially intended to be a largely procedural summit, with many major negotiating points settled and most environmental ministers prepared to sign a binding emissions treaty that contained specific emissions targets as well as commitments to financing structures.

Climate 236