Enbridge has been working on replacement works on its massive Line 3 pipeline, running from Alberta to Wisconsin, to restore its capacity to 760,000 bbl/d.
A federal judge in Houston ordered a former Venezuelan oil minister this week to pay the owners of Harvest Natural Resources $1.4 billion in damages in a fraud suit.
Warren Buffett’s Berkshire Hathaway purchased a stake in Suncor Energy, sending the U.S.-listed shares of the Canadian oil and gas producer up 4% in after-market trading.
Saudi Aramco, the world’s top oil producer, plans to issue its first international bonds in the second quarter of 2019, likely worth about $10 billion, Saudi Energy Minister Khalid al-Falih said last month.
Norwegian oil company Aker said on Feb. 14 that its exploration start-up in Ghana will submit development plans to Ghanaian authorities in March and the parent will then decide whether to sell stakes via an IPO or other means.
Harvest Oil & Gas, a successor company to EnerVest’s former affiliate EV Energy Partners, announced divestitures on Feb. 14 totaling more than $90 million.
Encana’s acquisition of U.S. shale producer Newfield Exploration expands the company’s “core four” portfolio to include a key position in the oil-rich Stack and Scoop shale plays.
Tullow made a post-tax profit of $85 million on $1.9 billion in revenue last year, buoyed by higher oil prices and cost discipline.