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Devon Energy and BP Enter Into $7.0B Property Sales Agreement and Oil Sands Joint Venture

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Devon Energy Corporation has entered into agreements to sell all of its assets in the deepwater Gulf of Mexico, Brazil and Azerbaijan to BP for $7.0 Devon and BP will also form a heavy oil joint venture to develop BP’s Kirby oil sands leases in Alberta, Canada. billion in cash.

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Ensyn and Fibria establish strategic alliance for cellulosic fuels and chemicals in Brazil; Fibria to invest $20M in Ensyn

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Ensyn Corporation and Brazilian wood pulp company Fibria Celulose S.A. have formed a strategic alliance that includes the establishment of an equally-owned joint venture for the production of cellulosic liquid fuels and chemicals in Brazil, as well as a US$20-million equity investment in Ensyn Corporation by Fibria.

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Ensyn receives EPA regulatory approval for its cellulosic renewable diesel RFDiesel

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The US Environmental Protection Agency (EPA) recently granted Ensyn Corporation ( earlier post ) Part 79 registration for its renewable diesel product, RFDiesel. FCC units are found in most refineries worldwide and are used to produce gasoline and diesel from vacuum gas oil (VGO). The RTP process is actually an analog to FCC.

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Annual global oil & gas capital expenditure to pass $1-trillion mark in 2012

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Increased activity in the Exploration and Production (E&P) sector will be the primary driver in pushing oil and gas capital expenditure (capex) to $1.039 trillion for 2012, according to the latest report by business intelligence firm GlobalData. GlobalData predicts Asia-Pacific to follow very closely with a capex of $253.1

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