Equinor, Suncor, Canadian Upstream Investment: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CORPORATE
Equinor Nears Deal to Buy Suncor Oilfields - Norway's Equinor (NYSE:EQNR) (Stavanger) is close to reaching a deal to buy Suncor Energy Incorporated (NYSE:SU) (Calgary, Alberta) British North Sea oil and gas assets for around $1 billion, three sources familiar with the matter told Reuters on Wednesday. The deal includes Suncor's 40% stake in the Equinor-operated offshore Rosebank oil and gas project, located some 130 kilometers northwest of the Shetland Islands. (Reuters)

PRODUCTION
Canadian Producers Predict C$40 Billion in 2023 Upstream Investment - The Canadian Association of Petroleum Producers (CAPP) said on Wednesday it expects oil and natural gas investment in upstream production will reach C$40 billion (US$29.4 billion) in 2023, surpassing pre-COVID levels. The total investment forecast is C$4 billion (US$2.94 billion), or 11%, more in additional spending across Canada's economy than the previous year, mainly directed toward environmental protection and emissions-reduction technologies. (Reuters)

NATURAL GAS
Germany's Gas Bill Surged 109% Last Year - Germany's natural gas import costs more than doubled in 2022 despite volumes being slashed by 30%, official data from the Federal Office for Economic Affairs and Export Control (BAFA) showed. Germany's import bill increased to 74.0 billion euros (US$78.74 billion) from 35.4 billion (US$37.77 billion) a year earlier, the BAFA data showed. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).