ConocoPhillips yesterday announced it will buy US shale oil producer Concho Resources for US$9.7 billion, in the latest example of consolidation in the energy sector following depressed oil prices and demand due to the COVID-19 pandemic. The deal sees 1.46 shares of ConocoPhillips swapped for each...
The Canadian oil sands industry has received a welcome boost in the shape of Suncor Energy’s (TSX:SU) ambition to start a new project in Alberta later this year. A barrage of high-profile exits by major oil players have blighted the sector in recent months, with BP,...
BP (LSE:BP) is reportedly close to finalising a divestment deal which will confirm the energy giant’s exit from Canada’s oil sands industry. The multinational oil company is associated with three projects in Alberta, including a joint venture with Canadian energy firm Husky Energy (TSE:HSE) in the...
Chevron (NYSE:CVX) is exploring the possibility of offloading its 20% stake in Canada's Athabasca Oil Sands project, a sale which could generate a figure around the US$2.5 billion mark. It is understood that the US oil giant has spoken with investment banks regarding the prospect of...
US-based ConocoPhillips (NYSE:COP) has announced the US$13.3 billion sale of its oil sands assets in Western Canada to Cenovus Energy (NYSE:CVE). Conoco, the world’s largest independent oil and gas explorer, said the sale would allow it to repay debt and return cash to its stakeholders, while...
Shell (LSE:RDSA) has commenced production at its deep-water Malikai project off the cost of Malaysia. Malikai is located in waters up to 500 metres deep and is expected to reach peak production of 60,000 barrels per day (bpd). It is Shell’s second deep-water project in Malaysia...
