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The Trans Mountain expansion was approved by Canada in 2016, but has been repeatedly delayed by permitting issues.
Italy’s Eni (NYSE: E) will probably have to move a drilling ship blocked by Turkey off Cyprus, but will not relinquish its interests in the area, the oil major’s CEO said on Feb. 22.
The rule, finalized in November 2016, took effect in January 2017 and was aimed at reducing leaks of natural gas, or methane, that happen through venting and flaring during oil production on federal land.
Seeing the potential benefits of oil, residents of the poorest of Kenya’s 47 counties now want the central government to make up for decades of neglect by ploughing nearly a third of expected oil revenues back into Turkana.
Cyprus said Feb. 21 it would press ahead with oil and gas exploration, signaling resolve in a standoff with Turkey over access to potential energy riches after Ankara extended military exercises in the eastern Mediterranean to early March.
The Interior Department said it would offer 77.3 million acres offshore Texas, Louisiana, Mississippi, Alabama and Florida, an auction that includes all available unleased areas in the Gulf of Mexico.
Democratic Republic of Congo’s oil minister on Feb. 15 defended the country’s right to explore for oil anywhere on its territory after media reports that President Joseph Kabila approved drilling in Africa’s largest tropical rainforest reserve.
At the core of the case is a $1.3 billion payment from Shell and Eni to secure the block from Malabu Oil and Gas, allegedly controlled by former Nigerian oil minister Dan Etete.
Algeria’s state energy firm Sonatrach and Italian oil firm Saipem signed an agreement on Feb. 14 to end their legal disputes over four gas projects, company executives said, paving the way for new projects.
Eni said its contracted Saipem 12000 drillship had been heading from a location southwest of Cyprus towards an area southeast of the island on Feb. 9 when it was stopped by Turkish military ships.
Drilling rig company Seadrill said in a court filing it postponed an initial hearing on its restructuring plan to Feb. 26, buying more time to consider alternative plans.
The U.S. is considering restricting imports of Venezuelan crude oil and exports of U.S. refined products to Venezuela, U.S. Secretary of State Rex Tillerson said Feb. 4, to put pressure on socialist President Nicolas Maduro to “return to the constitution.”