Energy Biz Review: TransCanada gets the OKAY, Shell Drills Near DEVILS ISLAND
Anadarko Petroleum (NYSE:APC) wins a license from Guyana, with which it may explore for oil and gas offshore in the Roraima deepwater block. The firm will study the geology in hopes of potential drilling sites.
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Norway’s Statoil (NYSE:STO) is said to be losing as much as $25 million a day, due to effects of the Norwegian oil workers’ work stoppage, which has shut down 240,000 barrels per day in Norway, representing 15 percent of the country’s oil production, and 11.9 mmcf per day, (7 perecnt) of its natural gas output. It’s thought that if the strike results in a more significant cut in production, oil prices might react.
TransCanada (NYSE:TRP) gains Federal approval to construct the southernmost section of its massive pipeline, from which it intends to transport crude oil from the Cushing, Okla. storage hub to refiners on the Gulf. However, the firm still requires permits from two other Army Corps of Engineers districts, ahead of construction of the pipeline which should handle 700,000 barrels a day.
Royal Dutch Shell (RDS.A, RDS.B) will take advantage of the French government’s lifting of its temporary suspension of oil and gas exploration near French Guyana, by drilling appraisal wells in the area. Shell and partners including the French oil major Total (NYSE:TOT) and Tullow, holds a permit to look for oil off the coast of the French Department of Guyane.
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