China National Petroleum Corp (NYSE:PTR) is currently the frontrunner to acquire Iraq’s West Qurna-1 oilfield from Exxon Mobil Corporation (NYSE:XOM) which, if realized, would shrink Western oil influence in that country ten years after the American-led invasion. Exxon is surrendering its interest in the huge southern oilfield following disputes with the central government over exploration contracts it had reached with the autonomous Kurdistan region in the north.
Enbridge (NYSE:ENB) and EDF EN Canada have entered into an accord through which the former will invest around $170 million to purchase a 50 percent interest in the 150-megawatt Massif du Sud Wind Project in Quebec. The investment will mark the company’s second in the province.
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Statoil (NYSE:STO) and its partners are poised to spend $5.6 billion to bring the Dagny field in the North Sea online following the submission of a development plan to Norwegian authorities on Thursday. The public operator wants to develop the oil and gas field, which covers four licenses by the employment of a fixed platform that will be tied into the Sleipner field for gas export, with recoverable reserves calculated at 225 million barrels of oil equivalent.
Dominion Resources (NYSE:D) and Caiman Energy I are forming a $1.5 billion equal partnership joint venture to supply midstream services to natural gas producers operating in the Utica shale in Ohio and parts of Pennsylvania. The firms say that the joint venture should close by the end of December.
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