The United States and Canada are the only two countries in the world to commercially produce both shale gas and tight oil, the Energy Information Administration said on February 13, 2015. Two other countries, China and Argentina, are the only other nations to extract resources from shale, but both are exclusively producing one of the two hydrocarbons. Russia and Australia
For Some Color on this Development, Oil & Gas 360® Interviewed Export Canada Economist Stuart Bergman Earlier this month, the European Parliament decided to reverse an earlier decision that labeled Canadian oilsands crude as “dirty oil,” removing barriers to refiners in the E.U. to import bitumen from Canada. For insight on what this decision means for Canada, Stuart Bergman, Assistant
Decision by the European Union allows for sale of Canadian oilsands crude in the Eurozone The European Union will now officially treat oilsands crude the same as oil from elsewhere in the world, after finalizing the decision on Friday, February 6, 2015. The European Parliament voted in December to remove restrictions from importing Canadian oilsands, which was accepted without amendments
Southern Pacific becomes first E&P in oil sands to seek creditor protection Southern Pacific Resource Corp. (ticker: STP), based out of Calgary, Alberta, Canada, announced yesterday that it has obtained creditor protection under the Companies’ Creditors Arrangement Act (CCAA). CCAA protection prevents creditors and others from enforcing rights against the company and affords STP the opportunity to restructure its financial
Partners BP and Husky expect oil from Sunrise Energy Project by Q1 of next year On December 11, Husky Energy (ticker: HSE) announced that it has commenced steam operations at its Sunrise Energy Project, a joint venture (JV) with BP (ticker: BP), in the northeast Alberta oil sands. Husky is the operator of Sunrise and has a 50% working interest
While TransCanada’s $8 billion project hangs in the balance, Canadian oil is already moving south The landslide Republican victory in this month’s midterm elections will prompt changes in the business of politics and in the U.S. economy, but will they include the Keystone XL pipeline? The House of Representatives approved the Keystone pipeline earlier today by a count of 252-161, with
Canada is home to a large number of public companies that are developing hydrocarbon resources on both sides of the border. In this series, Oil & Gas 360® takes a closer look at some of the promising operators in Canada’s E&P space. Canada’s Economy Canada’s GDP growth has outperformed the U.S. in four of the past five years, and growth of
Re-exporting Canadian Oil through U.S. According to an Energy Information Administration (EIA) report released October 31, crude oil exports reached their highest levels in 57 years in July. The EIA reported that the United States exported 401,000 BOPD in July, marking the second highest monthly export volume since the EIA started publishing data in 1920. Due to current U.S. crude
By Bloomberg Nov. 3, 2014 Oil-sands crude will supply Gulf Coast refineries regardless of how President Barack Obama rules on the Keystone XL pipeline, Alberta Premier Jim Prentice said. Developers of Alberta’s oil sands can use trains to reach the world’s largest refining market or the Energy East conduit to Canada’s Atlantic coast that TransCanada Corp. (TRP) is also proposing, Prentice
In an industry report released July 8, 2013, Raymond James & Associates asked the question: ‘When will the Keystone XL Pipeline become a necessity?’ According to analysts, Marshall Adkins & Cory Garcia, additional pipeline capacity out of Western Canada will be eventually needed if Canadian oil sands growth continues as projected. “While Keystone isn’t needed today or arguably even in
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