International Energy Agency says high supply to blame for oil prices PARIS _ The head of the International Energy Agency expects oil prices to remain low next year as demand weakens and supply remains high. The price of oil fell this week to its lowest since early 2009, when the global economy was deep in […]
Head of International Energy Agency sees oil price staying low in 2016 Read More »
Kinder Morgan anticipates enough cash flow to fund all 2016 equity contribution, “significant portion” of debt requirements HOUSTON, TEXAS – Despite troubles dogging the global oil and gas industry, Kinder Morgan says it will generate enough revenue in 2016 to fund its operations, including capital expenditures. Kinder Morgan, Inc. announced Wednesday that its board of directors
Kinder Morgan forecasting solid 2016, healthy revenue and cash flow Read More »
“Combining the Great Northern Midstream assets with our Tesoro High Plains Pipeline will create a leading crude oil pipeline system in the most prolific region of the Bakken.” SAN ANTONIO, Texas – Tesoro Corporation has agreed to acquire Great Northern Midstream LLC, a crude oil logistics provider which owns and operates high-quality, recently constructed crude
Tesoro to acquire strategic pipeline assets in the Bakken Read More »
Pemex upgrade will produce cleaner gasoline: company MEXICO CITY _ Mexico’s state-owned oil company says it will invest about $23 billion in upgrading refinery capacity, in part to produce cleaner gasoline. The Petroleos Mexicanos company will spend much of the money at six refineries to produce ultra-low-sulfur fuels, which it says will help reduce emissions.
Pemex announces $23B in refinery investments Read More »
Greenpeace says 1.5-degree limit puts more pressure on Alberta to reduce emissions EDMONTON _ Alberta’s environment minister says the province is doing its share to fight climate change, even under a more stringent limit for global warming. “We have unveiled a robust package of policies that we believe signals our willingness to do our part,”
Alberta has done its share for climate, even under tighter limit: minister Read More »
Cheap gas prices may last well into 2016, perhaps longer DALLAS _ Oil prices have been lower for longer than expected. Now, with OPEC’s decision to keep pumping at current levels, analysts expect oil to remain relatively cheap well into 2016 and maybe longer. That, of course, is good news for consumers and fuel-guzzling industries
Cheap gas celebrated by consumers while oil producers try to deal with the pain Read More »
Husky Energy’s 2016 sustaining/maintenance costs expected to be $2.4-2.6 billion, a 15-20% reduction compared to $3 billion average CALGARY, AB – As the North American oil and gas sector braces for a difficult 2016, Husky Energy says it has reduced costs to the point where it can break even if West Texas Intermediate remains below $40USD. “Five years
Husky Energy lowers break even to sub-$40 US WTI Read More »
Oil prices expected to remain low for months WASHINGTON _ The falling oil and gasoline prices that for months have coincided with strong U.S. hiring have helped most Americans. But they’ve come at a painful cost for workers in the energy and mining sector: 122,300 lost jobs in the past year. Even as workers nationwide
Low oil prices force energy industry companies to cut over 120,000 jobs Read More »
US rig count continues to fall as oil prices drop On Friday, Baker Hughes released its weekly rig count, showing the number of rigs looking for oil or natural gas in the United States has dropped by seven to 737. The number of oil rigs dropped 10 to 545 and the number of natural gas
Baker Hughes US rig count down this week to 737 Read More »
With 1,000 coal plants under construction world-wide, carbon capture highly valued REGINA _ Saskatchewan Premier Brad Wall has returned home after attending the international climate conference in Paris, where he promoted carbon capture and storage technology. Speaking to reporters at the Regina airport on Thursday evening, Wall said the world was happy to listen about the
Interest in carbon capture piqued at Paris climate conference Read More »
