Based on today’s closing trading price of Suncor’s common shares on the TSX, acquisition price was $10.17 per COS share Suncor and Canadian Oil Sands Limited announced today that Suncor’s acquisition of COS has been completed following shareholder approval of an amalgamation agreement at a special meeting of COS shareholders this morning. “Today marks the
Suncor Energy completes acquisition of Canadian Oil Sands Read More »
Oil production from wells drilled has so far been able to keep U.S. crude oil production from falling significantly below its level in late 2014 According to the EIA, U.S. crude oil production from the Lower 48 states from new wells (drilled since the start of 2014) made up 48 per cent of total U.S. crude oil production
“Texas is now poised to lead the US back into the global marketplace where our producers can compete with anyone, anywhere” – Craddick For 40 years, Texas oil producers were locked out of the global market, their West Texas Intermediate crude (WTI) instead stockpiled awaiting refinement as prices were artificially controlled. At the same time,
Op-ed: Taking long view of the Texas energy industry Read More »
LNG review process could be sped up by six months or more if Congress passed necessary legislation Although we’re not even a full quarter into 2016, this year is shaping up to be the most momentous in decades, and we’re not talking just about the elections. We’re also talking about American energy exports. Since the
Op-ed: Time to reduce American government barriers to LNG approvals Read More »
Significant investment for Exxon Mobil Chemical is expansion of its export-based position at Mont Belvieu, Texas Exxon Mobil Chemical, the world’s fourth-largest chemical company, is leveraging its logistics prowess and investing in strategic American export-oriented facilities to ensure its competitiveness in a low oil-price environment, according to a new report from IHS Inc. ExxonMobil Chemical’s product
Fewer rigs but higher production suggests drilling is more efficient There were 94 active natural gas-directed rigs as of March 11, 2016, according to Baker Hughes Inc., a decline of three units from last week, when rigs fell below 100 for the first time in the 29-year rig data history. Natural gas-directed rigs are currently 63 per
Rig count at historic low, but gas production still high Read More »
Weekly coal railcar loadings averaged slightly more than 75,000 carloads, 35% below previous five-year average Coal stockpiles at electric generating facilities totaled 197 million tons at the end of 2015, the highest level since June 2012 and the highest year-end inventories in at least 25 years, according to the US Energy Information Administration. More than
Coal stockpiles at power plants rise, shippers reduce railcar loadings Read More »
The leaders of the assembled companies referred to the progress made in UN discussions on the development of global diesel fuel specifications to reduce emissions The world’s leading manufacturers of heavy-duty commercial trucks and engines called for further progress in regulatory harmonisation and closer cooperation among European, North American, and Japanese agencies. Meeting in Brussels, the
Heavy duty truck makers want regulations harmonised globally Read More »
In a February 10 letter to Director Hopper, API called on BOEM to not fundamentally alter the current Air Quality Regulatory Program The energy industry is accusing the Obama Administration of regulatory overreach again, this time over proposals to regulate air quality in the Outer Continental Shelf. The OCS is the part of the internationally recognized continental
Bureau of Ocean Energy overreaching on air quality regulatory program – API Read More »
Distillate fuel oil stocks rose by 32.2% from same period last year to end at 162.8 million barrels, highest Feb. inventory level in 35 years Total petroleum deliveries, a measure of consumer demand, rose 2 percent in Feb. from year ago levels to average 19.8 million b/d, according to the American Petroleum Institute. These were the
Feb. US petroleum demand up, gasoline demand sets new record Read More »
