A Barrel Fulll Archive

July 13, 2022  Buckeye Partners, L.P. (“Buckeye”) today announced that it closed on the previously announced acquisition of Bear Head Energy, Inc. (“Bear Head”) , which is developing a large-scale green hydrogen and ammonia production, storage and export project in Point Tupper, Nova Scotia with hydrogen electrolyzer capacity of over two gigawatts. “Buckeye’s intention with this acquisition is to develop a large-scale green energy production, distribution and export hub,” said Buckeye CEO Todd Russo. “Given the project’s unique features and the geographic advantages of the region, including its status as one of the top locations globally for wind energy generation, we believe that this has the potential to become one the world’s premier green hydrogen production facilities. As Buckeye continues to evolve into a more diversified energy company, acquisitions like Bear Head represent an opportunity for us to invest in growth that aligns with our customers’ evolving needs and ESG prior...

March 24, 2021 The proposed Kitimat LNG Project was intended to meet increasing global demand for affordable, reliable and ever-cleaner energy, reduce global emissions at a large scale, advance economic reconciliation with First Nations, and create prosperity for Canada. Although Kitimat LNG was a globally competitive LNG project, the strength of Chevron’s global portfolio of investment opportunities was such that in 2019, Chevron elected to cease further funding the project. Subsequently, Chevron Canada Limited (Chevron) and its 50/50 joint venture partner, Woodside Energy, elected to exit the Project. The exit of the Kitimat LNG Project includes the divestment or wind-up and restoration of assets, leases, authorizations and agreements covering the Kitimat industrial site and the site for the proposed LNG facility at Bish Cove. Chevron’s other assets in Canada are not included in this divestment, this decision only impacts the proposed Kitimat LNG Project. The Kitimat LNG decision i...

Oct. 29, 2015  Venari Resources LLC, a deepwater oil exploration and production company in the Gulf of Mexico, announced today successful results from the initial appraisal at its Anchor discovery previously announced in January 2015. The Anchor-2 discovery well, which spud in 2014, is located in 5,180 feet of water in Green Canyon Block 807, approximately 140 miles off the coast of Louisiana. The discovery well was drilled to a depth of 33,750 feet and encountered 690 feet of net oil pay in multiple Lower Tertiary Wilcox sands. The Anchor-2 sidetrack#1 well was drilled down dip to delineate the discovery and confirmed the hydrocarbon accumulation found in the discovery well. The appraisal well encountered 694 feet of net oil pay, a hydrocarbon column of at least 1,800 feet in the Lower Tertiary Wilcox reservoirs and indicated the reservoirs are well developed. "The appraisal results to date suggest that Anchor could be one of the largest oil accumulations in the Lower Tertiar...

23 October 2014 BP today announced an oil discovery at the Guadalupe prospect in the deepwater US Gulf of Mexico. The discovery well, on Keathley Canyon Block 10, was drilled by operator Chevron on behalf of the Guadalupe co-owners. The well encountered significant oil pay in Paleogene age Wilcox Sands. Located approximately 180 miles off the Louisiana coast in 3,992 feet of water, the well was drilled to a total depth of 30,173 feet. More tests are being conducted on the well and additional appraisal activity will be needed to determine the extent of the resource. The Guadalupe co-owners are: BP Exploration & Production Inc, with a 42.5 percent working interest; Chevron USA Inc. (operator), 42.5 percent; and Venari Resources LLC, 15 percent. BP has previously made three discoveries in the emerging Paleogene trend in the deepwater US Gulf of Mexico: Gila in 2013, Tiber in 2009 and Kaskida in 2006. “BP is pleased to be a part of another discovery in the Paleogene trend, an area of ...

29 September 2025 bp has reached a final investment decision on the Tiber-Guadalupe project in the Gulf of America, approving its second new production platform in less than two years in the critical US offshore region and further underscoring the significance of the US Gulf to its global strategy. The 100% bp-owned Tiber-Guadalupe will be bp’s seventh operated oil and gas production hub in the Gulf of America, featuring a new floating production platform with the capacity to produce 80,000 barrels of crude oil per day. The project includes six wells in the Tiber field and a two-well tieback from the Guadalupe field. Production is expected to start in 2030. “Our decision to move forward on the Tiber-Guadalupe project is a testament to our commitment to continue investing in the Gulf of America and expand our energy production from one of the premier basins in the world,” said Andy Krieger, bp’s senior vice president, Gulf of America and Canada. “Along with its sister project Kaskida, ...

14 November 2025 PETRONAS, through its wholly-owned subsidiary PETRONAS Suriname E&P B.V. (PSEPBV), together with Staatsolie Maatschappij Suriname N.V. (Staatsolie), has achieved a significant milestone with the Declaration of Commerciality (DoC) of Sloanea field in Block 52 , marking Suriname’s first gas development milestone in its expanding deepwater energy landscape. The DoC confirms the project’s readiness to progress from discovery towards development, subject to the final investment decision. It builds on the positive momentum from the Sloanea-1 exploration success in 2020 while underscoring both parties’ confidence in the hydrocarbon potential of Suriname’s offshore basin and the shared commitment to unlock Suriname’s deepwater potentials. PETRONAS Vice President of International Assets of Upstream, Mohd Redhani Abdul Rahman remarked, “The DoC of Sloanea-1 affirms the field’s economic feasibility towards its development and commercialisation. This milestone underscores the ...