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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

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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. million callable common share purchase warrants, each exercisable into one common share at any time without conditions by Osum, at a price of $12.50 Stikeman Elliot LLP acted as legal counsel to the KERN led shareholder group. The placement will consist of 21.2 Scotia Waterous Inc.

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Kinder Morgan to purchase El Paso for approximately $38B to form largest natural gas pipeline network and largest midstream energy enterprise in North America

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The total purchase price, including the assumption of debt outstanding at El Paso Corporation and including the debt outstanding at El Paso Pipeline Partners, L.P. Largest independent transporter of petroleum products in the United States, transporting approximately 1.9 Carbon dioxide is used in enhanced oil recovery projects.

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Refiners and Truckers Associations Challenge California LCFS in Federal Court

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The National Petrochemical & Refiners Association (NPRA) filed a legal challenge to California’s Low Carbon Fuel Standard (LCFS) with the US District Court, Eastern District of California, Fresno Division. It imposes substantial burdens on interstate commerce that are excessive in relation to the claimed local benefits.

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National Low Carbon Fuel Standard study releases major Technical Analysis and Policy Design reports; providing a scientific basis for policy decisions

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Very broadly, they found that an LCFS would buffer the economy against global oil price spikes, trim demand for petroleum, and lessen upward pressure on gas prices. Treat all crude oils as part of the overall pool of transportation fuels. We did not shy away from controversy. We are not advocates. Harmonize global LCFS policies.

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