August 2017

Gulf refiners prepare for possible sanctions against Venezuela, look to Canada for crude

Canada

Gulf refiners see Venezuelan supplies dwindle According to Bloomberg, Gulf refiners are looking to Canada as they prepare for possible Trump administration sanctions against Venezuela which could mean heavy crude supplies from the beleaguered South American nation would be drastically cut to US customers. Canadian heavy crude from the Alberta oil sands is already a […]

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Oil prices fall as investors worry about oversupply, strong greenback, weak Asia demand

Energy Financial

Oil prices pressured by high production, inventories On Tuesday, oil prices fell as investors already concerned about the global glut of crude struggled with a rising US dollar and weaker demand for petroleum in China. Brent crude was dow 13 cents to $50.60/barrel by 12:53 p.m. EDT and US WTI fell by 14 cents to

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Wind energy continues rapid growth in 2016 – US Dept. of Energy

Innovation

Texas, Oklahoma, and Iowa lead the nation in wind energy The Energy Department released three wind market reports demonstrating continued growth in wind energy nationwide. America’s wind industry added more than 8,200 megawatts (MW) of capacity last year, representing 27 per cent of all energy capacity additions in 2016. In 2016, wind supplied about 6

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Calgary-based oil rig maker TESCO Corp. sold to USA competitor Nabors Industries

Energy Financial

Transaction values TESCO common stock at $4.62 per share Tesco Corporation announced it entered an agreement Nabors Industries Ltd. to combine with Nabors in a stock-for-stock transaction, according to a press release. TESCO shareholders will be issued 0.68 common shares of Nabors for each outstanding share of common stock of TESCO. TESCO shareholders will own approximately 10 per cent of the outstanding shares

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Canadian natural gas producers face rocky future without West Coast LNG

Markham on Energy

CAPP expects Canadian natural gas exports to US to decline 50% by 2030 In the wake of Petronas’ decision to cancel the Pacific NorthWest LNG project three weeks ago, there is good and bad news for Canadian  natural gas producers over the short to medium-term. Unfortunately, the bad outweighs the good. The Malaysian energy giant

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Husky Energy buying Wisconsin refinery for $435 million

Canada

Husky Energy buying 50,000 b/d Superior, Wisconsin refinery On Monday, Calgary-based Husky Energy announced it will purchase a 50,000 barrel per day (b/d) refinery from Calumet Specialty Products Partners, L.P., located in Superior, Wisconsin. The purchase price for the Superior Refinery is US$435 million in cash.  According to the company, the facility will help accelerate

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