Archive for March, 2017

Acceleware successfully field tests low-carbon, low-cost oil sands production technology

Acceleware successfully field tests low-carbon, low-cost oil sands production technology

Acceleware had all objectives successfully achieved during the three-day test run Calgary-based Acceleware Ltd. says it has successfully tested a new radio frequency technology that reduces emissions and costs for oil sands production, potentially eliminating steam-assisted gravity drainage (SAGD) techniques. RF XL is a “revolutionary” low-cost, low-carbon radio frequency (RF) enhanced oil recovery for both situ oil sands and […]

Iran oil, energy sector expand with help from Russia

Iran oil, energy sector expand with help from Russia

Iran oil sector recovering from international sanctions Iranian President Hassan Rouhani met with Russian Prime Minister Dmitry Medvedev on Monday in a bid to further develop a warmer relationship that has recently been strengthened by both countries’ involvement in the war in Syria. At the outset of the visit, Rouhani said “I hope that a […]

By March 27, 2017 0 Comments Read More →
Shell, Anadarko may let Permian JV expire to speed up development

Shell, Anadarko may let Permian JV expire to speed up development

10-year long Permian joint venture unlikely to be renewed Royal Dutch Shell and Anadarko Petroleum are exploring the possibility of letting a 10-year joint venture in the Permian Basin expire. The move would allow both companies to split their properties in an effort to speed up development, according to a report by Reuters. A senior Shell executive […]

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OPEC supply cuts extension may not be warranted: Goldman Sachs

OPEC supply cuts extension may not be warranted: Goldman Sachs

OPEC supply cuts not necessary unless supply and demand fundamentals deteriorate Goldman Sachs said an extension of the OPEC supply cuts agreement is not warranted unless there is a deterioration of supply and demand fundamentals. In a note released on Sunday, analysts part of the Global Investment Research Commodities team at Goldman Sachs said OPEC and […]

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Aramco IPO deal sweetened with tax cut by Saudi government

Aramco IPO deal sweetened with tax cut by Saudi government

Aramco IPO: Up to 5 per cent of kingdom’s oil giant Saudi Arabia has cut income tax rates paid by its state-run oil company Saudi Aramco, giving investors more incentive to buy into the proposed Aramco IPO next year. Reuters reports the royal decree issued on Monday and retroactive to Jan. 1, set the firm’s […]

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Oil prices dip again as investors uncertain over OPEC deal extension

Oil prices dip again as investors uncertain over OPEC deal extension

Oil prices falling since mid-March Oil prices continued to slide in trading on Monday due to uncertainty over whether members participating in the OPEC-led supply cut deal would extend the pact into the second half of the year in an effort to reduce the global crude glut. Investors’ concerns were not calmed after the OPCE members and […]

By March 27, 2017 0 Comments Read More →
Boulder County approves new oil/gas regulations, wades further into legal quagmire

Boulder County approves new oil/gas regulations, wades further into legal quagmire

Colorado Supreme Court ruling last year found local bans on development “invalid and unenforceable” By by Aileen Yeung , EnergyInDepth After being sued by the Colorado attorney general just last month over the county’s extended moratorium on oil and natural gas development, the Boulder Board of County Commissioners (BOCC) voted yesterday to adopt new oil and natural […]

$1.7 billion Total Texas investment in polyethylene, steam cracker JVs

$1.7 billion Total Texas investment in polyethylene, steam cracker JVs

Total Texas JV with Austria’s Borealis and Canada’s Nova Chemical On Monday, Total announced it will be entering a joint venture with two companies in a steam cracker unit and a new Borstar® polyethylene unit on the US Gulf Coast.  The Total Texas investments are valued at $1.7 billion. The French energy company is expected […]

By March 27, 2017 0 Comments Read More →
Hedge funds unwind record bullish position in oil, pressure prices

Hedge funds unwind record bullish position in oil, pressure prices

Enormous concentration of hedge fund positions that presaged sharp drop in oil prices seems to have dissipated By John Kemp LONDON (Reuters) – Hedge funds have unwound much of the concentration of bullish positions that contributed to a fall in oil prices this month, suggesting a broader range of views about where prices go next. […]

Suncor provides update on Ft. McMurray plant fire that injured worker

Suncor provides update on Ft. McMurray plant fire that injured worker

Suncor extends best wishes for speedy recovery to Syncrude employee injured in incident On March 14th, 2017, a worker was injured at Suncor’s Syncrude upgrader plant located north of Fort McMurray. The fire occurred on Tuesday afternoon at about 2 p.m. after an explosion rocked the Mildred Lake Upgrader. Officials say emergency crews were able […]