Sunday, December 1, 2024

Buffett’s Suncor Bet to Revive Investor Interest in Canadian Energy

From Reuters Berkshire Hathaway Inc’s re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said. The move is also seen by some as a wager the energy sector could benefit from a change in the guard in Canada’s oil-rich Alberta province, which

America’s Shale Boom Keeps Rolling Even as Wildcatters Save Cash

From Bloomberg America’s surging shale oil production shows little sign of abating, despite industrywide spending cuts, as explorers learn to do more with less. Almost all the independent producers have reduced their budgets for 2019, but many still expect to deliver double-digit growth in production this year, fourth-quarter earnings reports show. Growth is slowing but still strong: the U.S. will

Canadian Heavy Crude Slips With Pipeline Rationing Set to Rise

From Bloomberg Heavy Canadian crude prices widened to the biggest discount against New York futures this year as pipeline-operator Enbridge Inc. reported that rationing on its heavy oil lines would increase next month. Western Canadian Select, an oil sands benchmark, traded at $15 a barrel below West Texas Intermediate futures Tuesday, $1.50 wider than on Friday and the biggest discount

Next OPEC Headache Is Brazil’s Burgeoning Crude Production

From Bloomberg When the giant P-67 floating oil production vessel lit its flare tower earlier this month, it marked the start of a Brazilian supply boom that’s poised to challenge OPEC’s efforts to balance the global market. The mammoth facility — long and wide enough to fit an American football field — is the first of four similar platforms to begin pumping crude this