Tag: 2018
Suncor to increase production in 2018 while capital spending drops $750 million
Oil sands cash costs per barrel are $23-26 dollars Suncor released its 2018 corporate guidance today which includes a capital program of between $4.5 and $5.0 billion and average upstream production of 740,000 to 780,000 boe/d, according to a press release. The midpoints of these ranges represent a year over year production increase of more […]
CNRL to boost Alberta oil sands production 50% in 2018
2018 production targeted between 1,090,000 BOE/d and 1,170,000 BOE/d Canadian Natural Resources Ltd. announced its 2018 budget, with a capital investment of $4.3 billion, $500 million less than 2017, and a 50 per cent increase in oil sands production, according to a press release. “Canadian Natural’s transition to a long life low decline asset base is […]
PSAC forecasting 7,900 wells drilled in 2018, better than 2017
2018’s activity to be better than 2015, 2016 and 2017 The Petroleum Services Association of Canada (PSAC) released its 2018 Canadian Drilling Activity Forecast, with an expectation of 7,900 wells drilled in Canada, according to a press release. For 2017, the association’s final revised forecast predicts a yearly total of 7,550 wells. PSAC bases its […]
2nd generation Nissan LEAF electric car makes North American debut
2018 Nissan LEAF starts at $35,998 in Canadian dealerships Nissan debuted the LEAF in North American following the LEAF’s global launch in Tokyo, Japan. The next-generation of LEAF, the world’s best-selling affordable, mass-production electric vehicle, goes on sale in early 2018 at all 97 Nissan electric vehicle certified dealerships in Canada, according to a Nissan […]
Calgary and Edmonton on the road to economic recovery – Conference Board
Unless oil price rises above $50/b, high paying oil and gas jobs may not return until 2018 or later Gradually rising oil prices will help pull the economies of Calgary and Edmonton out of recession this year, according to The Conference Board of Canada’s Metropolitan Outlook: Spring 2017. Calgary’s economy is expected to grow for […]
Oil demand to 2018: Where could we be wrong?
Oil demand has been surprisingly strong over the last two years in India Global oil demand is in for a year of strong growth but given the delicate rebalancing in the oil market, even small changes to a forecast could have major implications for price, according to Wood Mackenzie. Wood Mackenzie highlight the factors that could have […]
Global crude oil balances expected to tighten through 2018
Brent crude oil spot prices expected to remain fairly flat during 2017 Crude oil and other liquids inventories grew by 2.0 million b/d in the fourth quarter of 2016, driven by an increase in production and a significant, but seasonal, drop in consumption, according to the US Energy Information Administration estimates. Global production and consumption are […]
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