French energy group Total has agreed to buy for an undisclosed amount the distribution business of Brazil's Grupo Zema, in order to expand in Brazil and in the biofuels sector.
Oil prices dipped on Nov. 22 after U.S. inventories swelled to their highest level since December adding to concerns about a global crude glut but OPEC talk of an output cut limited losses.
Red Wolf Crude Connector will have an initial capacity of 120,000 bbl/d.
Total inventories were 446.91 million barrels, the highest level since Dec. 2017, according to an EIA report. The last time crude oil stockpiles grew for nine straight weeks was between Jan. 6, 2017 to March 3, 2017.
Alberta said on Nov. 20 that it will double its incentives for companies developing new plants to make petrochemical products, as the Western Canadian province seeks to diversify its economy beyond crude extraction and export.
President Donald Trump praised Saudi Arabia for helping to lower oil prices on Nov. 21 as pressure intensified to impose tougher sanctions on the Middle East ally following the murder of dissident Saudi journalist Jamal Khashoggi.
British Columbia’s premier said on Nov. 20 his government will introduce legislation next year that will require all new light-duty cars and trucks sold in the province by 2040 to be electric or zero-emission vehicles.
Argentina is due to begin exports of LNG from a part of its vast Vaca Muerta shale gas resource next year through FLNG vessel provided by Exmar.
Bakken crude oil pricing "is pretty distressed," one trader said. For buyers who can grab it at the Gulf Coast, the crude "is going to look a lot more attractive than the local grades."
U.S. officials said Russia facilitated the delivery of oil from Iran to Syria, and that a variety of mechanisms were used in an attempt to conceal the shipments and oil-related payments.
Woodside Petroleum Ltd, Australia's biggest listed oil and gas explorer, said on Nov. 20 it had signed a 20-year gas supply deal with Perdaman Chemicals and Fertilisers Pty Ltd.
The acquisition, which the Tailwater Capital-backed company acquired from Woodland Midstream Partners and Orion Pipeline, establishes a “strong asset base” for Elevate Midstream in East Texas.