A Vancouver native, Charlotte recently graduated from Simon Fraser University, where she majored in English and Humanities. During her time there, SFU’s Writing and Communications program caught her attention, and she began working towards a Certificate in Editing. After completing an editorial internship at Vancouver’s Western Living magazine in the fall of 2010, she knew that she wanted to pursue editing further.
Charlotte is excited to have joined the Investing News Network as an editorial assistant, and looks forward to gaining more knowledge about the commodities sector. She plans to complete her certificate in the spring of 2013.
Celtic Exploration Ltd. (TSX:CLT) announced that Canada’s minister of industry has approved the acquisition of Celtic by an ExxonMobil Canada subsidiary. No other regulatory approvals remain.
Reuters reported that Turkey is planning to increase the exploration of basins in its Southeast, East and Western Thrace areas in the hope of finding sizeable shale gas reserves. Turkey’s interest is motivated by its desire to reduce its energy import dependency.
CNNMoney reported that a range of factors, including higher oil prices, production cuts and the closing of refineries, have caused gas prices to rise for 32 days in a row, increasing by more than 13 percent during that time.
The BBC reported that the United States has approved CNOOC’s (NYSE:CEO,HKEX:0883) acquisition of Canada’s Nexen (NYSE:NXY,TSX:NXY). The deal has already been okayed by Canadian authorities, so approval from the US means that the path for the sale is now clear.
CBC News reported that increasing costs have not deterred ExxonMobil (NYSE:XOM) and its partners from moving forward with the Newfoundland-based Hebron oil project. They plan to begin construction and fabrication of the Hebron platform and expect first oil to be reached at the end of 2017.
The Globe and Mail reported that Chevron Corp. (NYSE:CVX) has agreed to take 50-percent ownership of Kitimat LNG by buying the minority positions held by Encana Corp. (TSX:ECA,NYSE:ECA) and EOG Resources Inc. (NYSE:EOG). The move places Chevron at the helm of the project and brings it closer to becoming a reality.
Birch Lake Energy Inc. (TSXV:BLK) and Veraz Petroleum Ltd. (TSXV:VRZ.H) announced that as per an arrangement agreement, Birch Lake will acquire all of Veraz’s issued and outstanding common shares. The transaction must be approved by a variety of entities, including Veraz shareholders, the TSX Venture Exchange and the Court of Queen’s Bench of Alberta, and is expected to close on December 21, 2012.
Bloomberg reported that a director at PT Pertamina, a state-owned Indonesian oil producer, said that Pertamina sent a takeover proposal to Coastal Energy Co.’s (TSX:CEN,LSE:CEO) major shareholders. It is possible that the proposal will cause a bidding war.
Zargon Oil & Gas Ltd. (TSX:ZAR,TSX:ZAR.DB) announced its financial and operating results for the third quarter of 2012, commenting that its oil production fell to 7,634 barrels of oil equivalent from 8,290 during the previous quarter. Its natural gas production declined 12 percent compared to the preceding quarter, averaging 15.33 million cubic feet per day.
