Low oil prices one reason why world economic growth expected to be 2.9% in 2017 Following a tepid increase of 2.5 per cent in 2016, growth in the world economy will pick up this year, with real GDP forecast to rise by 2.9 per cent, according to The Conference Board of Canada’s World Outlook: Summer 2017. […]
Conventional onshore production shifted towards brownfield development to minimise capital spending – just like Alberta oil sands By Alessandro Blasi, senior programme officer, International Energy Agency The last few years have been particularly challenging for the oil and gas industry. From the natural gas shale revolution beginning about a decade ago to the dramatic shale-oil
Global oil/gas industry transformed as it responds to oversupply, new technologies – IEA Read More »
United States takes 99% of Canadian oil and gas exports Energy free trade under the North American Free Trade Agreement (NAFTA) has been good for the people of Canada, the United States and Mexico, keeping energy on the continent more affordable and reliable for citizens and the economy, according to a joint paper released by
Energy free trade under NAFTA good for all North Americans – CAPP, API, AMEXHI Read More »
Rick George helped pioneer oil sands mining Rick George, described as one of the pioneers of oil sands mining, passed away on Aug. 1 after a year-long battle against leukemia at the age of 67, according to a statement from his family on Wednesday. Mr. George was a long-time president and CEO of Suncor Energy
Former Suncor Energy CEO Rick George dies of leukemia Read More »
PSAC forecast up by 8 per cent The Petroleum Services Association of Canada, or PSAC, says it expects Canadian light oil producers to drill more wells this year than previously expected. The industry association says investors are transferring capital out of the oil sands. PSAC forecasts that 7,200 new wells to be drilled this year,
PSAC boosts oil, gas drilling forecast to 7,200 wells Read More »
Big Oil focused on cutting costs, changing strategies when crude prices tanked With oil prices hovering around $50/barrel, big oil companies are currently generating more cash than they did back in 2014 when the price of crude was over $100/barrel, according to Goldman Sachs. “Simplification, standardization and deflation are repositioning the oil industry for better
Big oil companies see more profits at $50 oil than $100 oil – Goldman Sachs Read More »
First purchase of WTI Midland by any Indian company Reuters reports India’s state owned Bharat Petroleum Corp (BPCL) purchased 1 million barrels of WTI Midland grade. The sale marks the first time an Indian company has bought the US grade, according to an industry source knowledgeable of the deal. Refiners in India joins a number
Indian refiner buys 1 million barrels of WTI Midland oil: Reuters Read More »
Oil prices up as refiners run at high rate, BP expects 2018 oil prices to range from $45 to $55- basically no change Oil prices rose in seesaw trading on Wednesday on soaring demand for refined product and despite disappointing crude stocks data from the US Energy Information Administration. Brent crude futures were up 42
Oil prices rise on record gasoline demand, BP pegs oil at $45 to $55 in 2018 Read More »
Global trade volumes up by 5 per cent By John Kemp LONDON, Aug 2 (Reuters) – Global trade is growing again which will give a big boost to middle distillates such as diesel used in the high-power engines that move almost all freight. World trade volumes grew by 5 per cent in the three months to May
Column: Global trade recovery lifts diesel demand Read More »
Tight oil most attractive investment theme in the global industry – Wood Mackenzie Tight oil profitability has been the focus of much debate since the oil price collapse of 2014. Its ability to scale down and up quickly and break even at low price points has made the Permian the star of the show for investors,
When will American shale oil make money? Maybe by 2020, says Wood Mackenzie Read More »
