News

US gas and oil rig count down by 2, Canadian rig count up 15

US gas and oil rig count down by 2, Canadian rig count up 15

Rig count expected to continue rising through at least 2019 In its weekly review, General Electric Co’s Baker Hughes reports the US rig count fell for the second week since January and now sits at 950. Drillers cut one oil rig and one gas rig in the week ending July 21. During the same period […]

Opinion: Saudi Arabia curtails crude flow to United States

Opinion: Saudi Arabia curtails crude flow to United States

Saudi Arabia crude exports to US at slowest rate since 2015 By John Kemp LONDON, July 21 (Reuters) – Saudi Arabia is making good on promises to curtail oil shipments to the United States with the likely intention to drain visible inventories and support prices. The United States imported an average of 524,000 barrels per […]

Clean energy tech brief July 20: Captain Kirk explores the outer reaches of…home solar energy

Clean energy tech brief July 20: Captain Kirk explores the outer reaches of…home solar energy

Also in this brief: Only 1 in 8 US homes uses programmed thermostat with central AC, will there be enough lithium to meet growing battery needs William Shatner joins Save Money, Save the World alliance, switches home to solar power Actor William Shatner, famous for playing Captain Jame T. Kirk on the 1960s Star Trek TV series and […]

Oil price news brief July 20: Brent reaches $50 then dips

Oil price news brief July 20: Brent reaches $50 then dips

Also in this brief: US crude inventories drop, Analysts peg oil price at $40 to $60 for next year or more Oil prices slip in choppy trading In early trading on Thursday, oil prices topped the $50/barrel mark for the first time since June, but as the day wore on, concerns about the global oversupply was a […]

Opinion: US gasoline surplus eliminated by trade flows

Opinion: US gasoline surplus eliminated by trade flows

US gasoline surplus resulted in low prices, increased exports By John Kemp LONDON, July 20 (Reuters) – The US gasoline surplus has disappeared thanks to a sharp drop in prices which has caused imports from Europe to slow and exports to Latin America and other markets to accelerate since the start of June. US refineries […]

Opinion: Saudi Arabia empties domestic crude tanks

Opinion: Saudi Arabia empties domestic crude tanks

Saudi Arabia domestic stocks reached a peak in October 2015 By John Kemp LONDON, July 19 (Reuters) – Saudi Arabia has been progressively reducing its bloated domestic stocks of crude in a sign the global oil market is rebalancing, albeit more slowly than OPEC anticipated. Saudi Arabia’s domestic crude stocks declined in 16 of the […]

US gasoline, crude stocks drop significantly: EIA

US gasoline, crude stocks drop significantly: EIA

Crude stocks down 4.7 million barrels Data compiled by the US Energy Information Administration shows gasoline and crude stocks fell significantly and by more than analysts had expected last week. In the week ending July 14, crude inventories in the United States fell by 4.7 million barrels, against analysts’ expectations of a drop of 3.2 […]

Cenovus, Suncor meeting sustainability goals, including reducing emissions over 30% by 2026

Cenovus, Suncor meeting sustainability goals, including reducing emissions over 30% by 2026

Cenovus surpassed 30 million tonnes of CO2 injected underground since 2000, equivalent to taking 6,000,000 cars off the road Two of Alberta’s largest oil sands producers, Suncor Energy and Cenovus Energy, released their corporate sustainability reports Monday and reducing  greenhouse gas emissions while lowering costs to ensure long-term competitiveness was a major theme for both […]

Alberta news brief July 18: Industry to blame for its pipeline problems – 7Gen founder Carlson

Alberta news brief July 18: Industry to blame for its pipeline problems – 7Gen founder Carlson

Also in this brief: Canada’s uncertain role in the global LNG market, TransAlta says Rona Ambrose will help it become Canada’s “leading clean power company” Pat Carlson, founder of innovative natural gas producer Seven Generations Energy, tells Bloomberg that the Canadian industry should stop blaming “environmentalists, First Nation communities or the government for its failure to get LNG export […]

Kuwaiti oil minister says OPEC cuts working, market in balance by March

Kuwaiti oil minister says OPEC cuts working, market in balance by March

OPEC cuts within range, despite increased production from Libya, Nigeria Kuwait’s oil minister said while the world oil market is taking longer to rebalance than expected and the global oversupply glut should be cleared by the end of March 2018, making further OPEC cuts unnecessary. Essam al-Marzouq told Reuters the cartel does not need to […]