Oil Price Canadian crude exported from the U.S. Gulf Coast in June clocked in at 1500,000 barrels per day, only slightly lower than average despite the commissioning of the expanded 590,000 b/d Trans Mountain pipeline (TMX) in May. TMX has the potential to cut shipments from the U.S. Gulf Coast to India, China, and South Korea if more oil from Canada’s West
World Oil (Bloomberg) – A flareup of wildfires in Alberta is threatening as much as half a million bpd of oil sands production, with MEG Energy Corp becoming the latest company to evacuate workers. About 500,000 bpd of marketable oil sands production could be within 10 km (6.2 miles) of an out-of-control blaze, Rystad Energy said in a report Thursday.
Oil and Gas 360 Publisher’s Note: Tenaz Energy will be a presenter at EnerCom Denver – The Energy Investment Conference on August 18-21, 2024. Please register to attend. CALGARY, AB, July 18, 2024 /CNW/ – Tenaz Energy Corp. (“Tenaz”, “our”, “we”, or the “Company”) (TSX: TNZ) has entered into an agreement with Nederlandse Aardolie Maatschappij B.V. (“NAM”), a 50/50 joint venture between Shell PLC and ExxonMobil
Oil Price China, Japan and South Korea are set to receive cargoes of oil imports from Canada’s newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from the facility since it became operational in May. The expanded TMX pipeline will triple the flow of crude from landlocked Alberta to Canada’s Pacific coast to 890,000 barrels per day
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 1 over last week, resulting in a total count of 584 rigs. Canada had an increase of 14 over last week, resulting in a total Canadian count of 189 rigs. Breakdown by region Of the regions tracked by Baker Hughes, only the Granite
Oil Price Strathcona Resources Ltd plans to develop up to US$1.5 billion (C$2 billion) carbon capture projects at its oil sands assets with the public investment vehicle Canada Growth Fund (CGF), the Canadian oil sands producer said in a statement. Strathcona announced a strategic partnership with CGF, which will help fund the development of carbon capture and sequestration (CCS) infrastructure on
World Oil (WO) — Enverus Intelligence Research (EIR), a subsidiary of Enverus, has released a report that examines where Canadian oil sands assets fall on the North American cost curve. “The often-overlooked Canadian oil sands represent nearly 40% of North America’s sub-$50 WTI breakeven oil resource,” said Dane Gregoris, managing director with EIR. “Oil sands businesses are particularly attractive to
BOE Report About 20 ships loaded crude oil on Canada’s West Coast in the first full month of operation on the newly expanded Trans Mountain pipeline, according to vessel-tracking data on Sunday, slightly below the operator’s forecast. Loadings from the pipeline expansion are closely watched because the Canadian government wants to sell the $24.84 billion (C$34 billion) line. Questions about
Oil and Gas 360 This week’s Baker Hughes Rig Count shows that U.S. had a decrease of 7 over last week, resulting in a total count of 581 rigs. Canada had an increase of 10 over last week, resulting in a total Canadian count of 176 rigs. Breakdown by region Of the regions tracked by Baker Hughes, the Cana Woodford,
Oil Price The expanded Trans Mountain oil pipeline will rely on spot customers to see a positive equity return or return on capital in 2026, according to company filings with Canadian regulators reviewed by Reuters. The expanded Trans Mountain pipeline is tripling the capacity of the original pipeline to 890,000 barrels per day (bpd) from 300,000 bpd to carry crude from
World Oil (WO) – Last week, the Canadian government passed bill C-59, requiring oil and gas companies to “back up” their environmental claims or otherwise be accused of “greenwashing.” In response, Alberta Premier Danielle Smith, along with Canadian Minister of Energy and Minerals Brian Jean and Environment and Protected Areas Minister Rebecca Schulz, released the following statement. “The federal Liberal
Oil Price A Canadian oil industry association has removed all transition-related content from its website in anticipation of punitive moves by the federal government, which earlier this month passed a law requiring companies to show proof of their transition statements. “Imminent amendments to the Competition Act will create significant uncertainty for Canadian companies that want to communicate publicly about the
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