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Keyera to buy west central Alberta gas plant

Keyera Corp., Calgary, will pay $133 million to Whitecap Resources Inc. for interests in gas processing in west central Alberta and in associated oil and gas reserves, Keyera reported. The company expects the acquisition to close on May 1.

Imperial to sell conventional assets to Whitecap for $855 million

Imperial Oil Ltd. has reached an agreement to sell its interest in conventional assets in Boundary Lake, Cynthia/West Pembina, and Rocky Mountain House in British Columbia and Alberta to Whitecap Resources Inc. for $855 million. The deal is expected to close in May.

MARKET WATCH: Front-month oil, gas futures contracts close down on week

The front-month crude oil and natural gas contracts slid during the week ended Mar. 14, despite their respective price jumps on that day. Crude oil was down 3.6% on the week, and gas ended 4.1% lower than the previous week, according to analysts at Raymond James & Associates Inc.

Wintershall to sell share of Verbundnetz Gas to EWE

Wintershall plans to divest its 15.79% share in Verbundnetz Gas AG in eastern Germany to EWE AG. Terms were not disclosed.

Witnesses disagree on Keystone XL’s potential US security impacts

Witnesses at a US Senate Foreign Relations Committee hearing sharply disagreed on whether the proposed Keystone XL crude oil pipeline would help or hinder US security.

FERC issues draft EIS on Freeport LNG’s Phase II projects

The US Federal Energy Regulatory Commission has issued a draft environmental impact statement (EIS) on Freeport LNG’s Phase II modification and liquefaction projects.

FERC to issue EA for Cove Point LNG export project in May

The US Federal Energy Regulatory Commission has notified Dominion, Richmond, Va., that it will issue its environmental assessment (EA) for the Cove Point LNG liquefaction and export project on May 15.

IEA: Global oil demand revised upward on stronger data

Global oil demand in 2013 rose by 1.3 million b/d year-over-year to 91.3 million b/d, according to the latest, near-complete set of demand data for the year, the International Energy Agency said in its most recent monthly Oil Market Report. This estimate is 45,000 b/d above last month’s estimate, as December demand exceeded expectations.

MARKET WATCH: Crude oil futures gain, natural gas futures slide

Crude oil futures prices on the New York Mercantile Exchange continued to make gains Mar. 13, while the natural gas contract continued to slide.

EPA lifts post-Macondo contract suspension in agreement with BP

The US Environmental Protection Agency and BP PLC reached an agreement that will effectively end the bar on new federal contracts imposed on the multinational oil company in the wake of the 2010 Macondo deepwater well incident and crude oil spill.

Oil Search completes placement for Elk-Antelope fields amid political dustup

Oil Search Ltd. has completed its share placement to the Papua New Guinea government in the recently announced deal to fund the company’s acquisition of a 22.835% stake in retention license PRL15 containing the Elk and Antelope fields in the eastern Highlands of Papua New Guinea for $900 million.

Progress expands BC assets in deals totaling $1.5 billion (Can.)

Progress Energy Canada Ltd., a subsidiary of Malaysia’s state-owned Petronas, has closed on its acquisition of assets in northeastern British Columbia from Talisman Energy Inc. In addition, Progress will purchase Montney lands in the Julienne area, also in the northeastern part of that province.

EIA projects record US natural gas storage injection in 2014

The US Energy Information Administration’s Short-Term Energy Outlook (STEO) for March forecasts a robust natural gas injection season through April to October with nearly 2,500 bcf added to storage as operators seek to rebuild stocks.

Chevron to increase production, maintain capex level through 2017

Chevron Corp. will increase production by 20% through 2017 without raising capital expenditures, executives said Mar. 11 at the company's annual security analyst meeting in New York.

MARKET WATCH: NYMEX crude oil, products decline on inventory build

Crude oil futures prices fell more than $2/bbl on the New York market after a weekly US government report showed a larger-than-expected gain in crude supplies.

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