Archive for July, 2017
Oil prices rise, on on signs of easing oversupply
Oil prices on track for biggest weekly gain this year Oil prices hit two-month highs on Friday and are on track to post the strongest weekly percentage gain in 2017 as investors’ concerns about the stubborn global oversupply eased. Brent crude futures were up 86 cents to $52.35/barrel at 11:35 a.m. EDT, slightly down from […]
Column: Physical oil market tightens as refiners scramble for crude
Physical oil market significantly tighter now than the first half of June By John Kemp LONDON, July 28 (Reuters) – Physical crude markets are at last showing signs of tightening as record refinery consumption in the United States coincides with a slowdown in oil exports from the Middle East Gulf. U.S. refineries processed an average […]
TransCanada to expand Canadian Mainline capacity through new investment
Expansion will move additional 80 million cubic feet of natural gas per day, much of it from West to Eastern Canada markets TransCanada Corporation announced it will apply to the National Energy Board to expand the capacity of the Canadian Mainline System through its Maple Compressor Station near Vaughan, Ontario, according to a press release. […]
New technology could end costly crude oil pipeline blockages
Process involved putting two electrical plates (charged at 4,000 volts) into pipe, attracting asphaltene Getting crude oil from the wellhead to a downstream destination can be literally stopped in its tracks when components of the oil known as asphaltenes clump together, reducing the flow or causing a complete blockage, according to a University of Houston […]
Oil prices rise to eight-week high on US crude stock drop, Saudi export reduction
Also in this brief: Hedge funds’ active positioning in crude oil Oil prices steadied in trading on Thursday, remaining near eight-week highs on a higher-than-expected drop in US crude stocks last week and a commitment by Saudi Arabia and two other OPEC members to reduce their exports. According to Reuters, gasoline futures were the biggest percentage […]
The race for a better battery: ‘quinones’ organic compound is cheap, safe, lasts longer
Researchers have filed for 3 patents for the technology and hope to find partners to help commercialize it Modern batteries power everything from cars to cell phones, but they are far from perfect – they catch fire, they perform poorly in cold weather and they have relatively short lifecycles, among other issues. Now researchers from […]
Suncor, Total SA dispute cost of Fort Hills oil sands project
Fort Hills 92 per cent complete, crude production to begin by end of 2017 France’s Total SA has told Suncor Energy is will not provide any more funding for the Fort Hills oil sands project, a joint venture between Suncor, Total and Teck Resources Ltd. Earlier this year, Suncor increased its capital costs estimate for […]
US shale producers cutting budgets as oil prices lag
US shale producers say 2017 plans were too aggressive A number of US shale producers say they are starting to pull back on aggressive capital spending plans for this year due to languishing oil prices. So far this week, Anadarko, ConocoPhillips, Whiting Petroleum and Hess Corp have cut a combined $750 million from their capex […]
Canada brief July 27: TransCanada to be reimbursed for cancelled Pacific NorthWest LNG pipeline
Also in this news brief: Ship slow down through BC’s Haro Strait hoped to be beneficial for endangered Southern Resident Killer Whale pod, TransCanada launches Keystone XL pipeline open season TransCanada Corporation was notified that Petronas affiliate Pacific NorthWest LNG would not be proceeding with their proposed LNG project near Port Edward, British Columbia. “As part of […]
Q2 markets brief: Shell profits soar, ConocoPhillips cuts capex
Shell gearing up for world of “lower forever” oil prices Royal Dutch Shell CEO Ben van Beurden says his company is gearing up for “lower forever” oil prices after his company tripled their profits in the second quarter. The large multi-national oil company increased its cash flow to $12.2 billion and reduced its debt by […]
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