Author: omc_admin

Enbridge Inc. and a partnership of 36 First Nations in British Columbia have inked a deal for the Indigenous groups to acquire a 12.5 percent ownership in a natural gas pipeline with a capacity of 3.6 billion cubic feet a day (Bcfd). Stonlasec8 Indigenous Alliance Limited Partnership will invest CAD 715 million ($512.75 million) in the Westcoast pipeline, which stretches over 2,900 kilometers (1,801.98 miles) from Fort Nelson in northeast BC and Gordondale near the BC-Alberta border to the Canada-US border. Westcoast, also known as the BC Pipeline, supplies BC and the Lower Mainland, Alberta, as well as the U.S. Pacific Northwest.  “This transaction provides…

Texas-based utility Vistra Energy has struck a $1.9-billion deal for the acquisition of close to 2.6 GW worth of gas-powered generation capacity across several states from Lotus Infrastructure Partners.The seven power plants are located in New York, California, New England and parts of the U.S. spanning 13 states serviced by transmission company PJM Interconnection, Reuters reported. The assets include five combined-cycle facilities and two combustion turbine power plants.The news of the deal comes amid reports of an expected surge in electricity demand in the United States, driven primarily by the proliferation of data centers.The Energy Information Administration earlier this year…

New Delhi: India’s first compressed biogas (CBG) plant with a multi-distribution model has commenced commercial gas offtake and injection into the city gas distribution (CGD) network in Kaithal, Haryana, with a capacity of 10 tonnes per day (TPD), according to a statement from the plant developer.The facility, developed by Demeter Agro Energies in collaboration with CEID Consultants and Engineering as its EPC partner and supported by Indraprastha Gas Limited (IGL), will supply compressed biogas through MDPE-rated pipelines and stainless steel lines, and support bottling via cylinder cascades.The plant is supplying 4 TPD of compressed biogas through the MDPE pipeline network.…

Strathcona has made an offer to acquire sector player MEG Energy for the equivalent of some $4.25 billion in cash and stock, per Reuters calculations. The offer represents a 9.3% premium to MEG Energy’s closing price on Thursday.“The combination of Strathcona and MEG would unify two 100+ Mbbls/d heavy oil “pure plays” with near identical netbacks and reserve life indexes, both focused on SAGD oil sands development,” Strathcona said in a news release.The company added that the takeover, if successful, would turn the combined company into the fourth-largest oil producer among companies using team-assisted gravity drainage recovery technology in the…

By Irina Slav – May 16, 2025, 1:32 AM CDT Crude oil prices are on track for a weekly increase due to optimism surrounding a potential trade agreement between the United States and China. The International Energy Agency (IEA) has projected a slowdown in global oil demand growth for the remainder of the year, influenced by economic factors and the rise of electric vehicles. Recent trends show a rebound in Chinese oil imports and a surge in Indian oil imports, while Japanese refiners are reconsidering their low-carbon investment strategies to focus on oil. Crude oil prices were set for…

The Philippines is looking at exporting renewable energy to Taiwan and other countries, Energy Secretary Raphael Lotilla said, a lofty strategy that would take advantage of surplus capacity. There are ongoing discussions between officials in Manila and Taipei, he said. “It’s not only Taiwan that has approached us but other countries in anticipation of excess capacity in renewable energy,” Lotilla told a media briefing on Thursday. Still, the strategy is among the most ambitious efforts to export clean energy in Asia. The region has struggled and largely failed to create cross-border transmission networks despite decades of proposals due to political…

Eni SpA has put onstream the Merakes East field in the offshore part of the Kutei Basin in Indonesia, expecting net natural gas production of 100 million standard cubic feet a day (MMscfd) or about 18,000 barrels of oil equivalent per day (boed). The tieback project is in the East Sepinggan block, operated by the Italian state-controlled energy major with an 85 percent stake. Indonesia’s state-owned PT Pertamina owns 15 percent. Merakes East has a water depth of 1,600 meters (5,249.34 feet). It sits about 10 kilometers (6.21 miles) from the Merakes field, which Eni put online 2021. Merakes East…

New Jersey Transit train engineers went on strike Friday, leaving an estimated 350,000 commuters in New Jersey and New York City to seek other means to reach their destinations or consider staying home.Groups of picketers gathered in front of transit headquarters in Newark and at the Hoboken Terminal, carrying signs that said “Locomotive Engineers on Strike” and “NJ Transit: Millions for Penthouse Views Nothing for Train Crews.” Passing drivers honked their horns.The walkout comes after the latest round of negotiations on Thursday didn’t produce an agreement. It is the state’s first transit strike in more than 40 years and comes…

Microsoft CEO Satya Nadella said the Chinese AI startup DeepSeek’s R1 model was the first AI model he had seen that was as competitive as OpenAI’s.”OpenAI has been so far ahead that no one’s really come close,” Nadella said in an interview with Bloomberg Businessweek published Thursday.”DeepSeek, and R1 in particular, was the first model I’ve seen post some points,” Nadella added. In January, DeepSeek spooked investors after its free chatbot app hit the top spot on Apple’s US App Store’s ranking. DeepSeek’s high-performing but relatively cheaper models sparked a sell-off in AI-related stocks as investors questioned if it would…

(Oil & Gas 360) – Calgary, Alberta (May 14, 2025) – Strathcona Resources Ltd. (“Strathcona” or the “Company”) (TSX: SCR) is pleased to announce that it has entered into definitive agreements to sell substantially all of its Montney assets for approximately $2.84 billion, pursuant to three separate transactions: The sale of its Kakwa asset (the “Kakwa Sale”) to ARC Resources Ltd. for approximately $1,695 million in total value ($1,650 million in cash and approximately $45 million in assumed lease obligations) The sale of its Grande Prairie asset (the “Grande Prairie Sale”) for approximately $850 million in total value ($750 million in cash…