China Unrest Tanks Oil
November 28, 2022
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MEG Energy announces 2023 Capital Investment Plan and Operational Guidance
November 28, 2022
MEG Energy announces 2023 Capital Investment Plan and Operational Guidance Cana…
Oil stocks are showing a peculiar disconnect from crude prices
November 28, 2022
Oil Price Oil stocks have continued to show a peculiar disconnect from the commodity they track, with oil equities staging a powerful rally even as oil prices have fallen sharply since the last OPEC meeting. Over the past two months, the energy sector’s leading benchmark, the Energy Select Sector SPDR Fund (NYSEARCA: XLE), has climbed 34% while average crude spot prices have
U.S. easing of sanctions on Venezuela won’t have immediate impact on oil
November 28, 2022
Oil Price Traders are still weighing the timing and impact of U.S. President Joe Biden’s decision on Saturday to ease oil sanctions on Venezuela and grant Chevron a license to resume oil production in the country. Sanctions were implemented in August 2019 by the Trump Administration, and Biden’s decision to ease those sanctions came after the resumption of talks
U.S. natgas falls 5% on lower demand forecast, contract expiry
November 28, 2022
Reuters U.S. natural gas futures fell more than 5% on Monday, weighed down by forecasts for lower demand over the next two weeks than previously expected, near record output and ahead of the expiry of the front-month December contract. On its last day as the front-month, gas futures NGc1 for December delivery on the NYMEX were down 38.7 cents, or 5.5%,
Surge Energy Inc. announces closing of over-allotment option
November 28, 2022
BOE Report CALGARY, AB – Surge Energy Inc. (“Surge”, “SGY”, or the “Company”) (TSX: SGY) is pleased to announce it has closed an over-allotment option (the “Over-Allotment Option”) that was fully exercised by a syndicate of Underwriters to the Offering (as defined herein) led by National Bank Financial Inc. and Peters & Co. Limited (together with the syndicate members the “Underwriters”), to purchase
Oil falls as China’s COVID protests fuel demand fears
November 28, 2022
BOE Report Oil futures fell on Monday, with WTI hitting an 11-month low, as protests in top importer China over strict COVID-19 curbs fuelled demand concerns. U.S. West Texas Intermediate (WTI) crude slid $1.80, or 2.35%, to $74.71 a barrel. It fell as far as $73.82 earlier — its lowest since Dec. 27, 2021. Brent crude dropped $1.90, or
Biden administration quietly approves huge Texas oil export project
November 28, 2022
World Oil The Biden administration has approved plans to build the nation’s largest oil export terminal off the Gulf Coast of Texas, which would add 2 million barrels per day to the U.S. oil export capacity, The Texas Tribune and Earthworks reported. The approval by the Department of Transportation’s Maritime Administration was filed in the federal register on Monday without any public announcement,
