03 August

Upwards momentum What do you do when you control 13% in the market share of a material that has a wide variety of industrial uses, but demand has fallen off a cliff and doesn’t look like its going back up anytime soon? If you are Methanex (TSX:MX)(NASDAQ:MEOH), you simply hang in there. Methanex gained 32% […]

Read More
02 August

RBC Capital analyst Gregory Pardy maintained a Hold rating on Baytex Energy ( BTE ) on July 30 and set a price target of C$0.70. The company’s shares closed last Friday at $0.47. According to TipRanks.com , Pardy has 0 stars on 0-5 stars ranking scale with an average return of -7.1% and a 41.1% […]

Read More
02 August

US oil producers have started bringing some shut-in wells back online since this spring’s price crash. S&P Global Platts Analytics expects the nearly all the shut-in volumes to come back by October. But US oil output will continue to decline as a result of some $41 billion in capital expenditure cuts announced by drillers this […]

Read More
02 August

Construction continues on the Trans Mountain pipeline expansion at the Westridge Terminal in Burnaby, BC Thursday, July 2, 2020. There was no oil tanker traffic out of Burrard Inlet in July, according to figures released by a group opposed to the federal government’s Trans Mountain pipeline expansion. The statistics show that during the first six […]

Read More
02 August

A major insurance company dropped coverage for the Trans Mountain expansion project, an oil pipeline seen as vital to the growth of Canada’s oil sands. Under pressure from environmental groups and growing global concerns about climate change, insurance companies are beginning to drop coverage for large-scale energy infrastructure. Swiss insurance company Zurich announced on Wednesday […]

Read More
02 August

Big oil companies need to be flexible and diversify in the wake of climate change, electric vehicles and other technologies. Reuters Probably not since the Second World War have the big oil companies released earnings under such turbulent and unpromising circumstances. Their big losses and write-downs are shocking but unsurprising. Are they just the reflection […]

Read More
02 August

The COVID-19 pandemic drove oil juggernaut ExxonMobil XOM -1% to a $1.1 billion loss in the second quarter — its largest ever — but hasn’t budged its long-term view that the world needs more oil and gas. Exxon announced a huge cost-cutting campaign, saying it would continue curtailments of crude oil production into the third […]

Read More
02 August

Baker Hughes reported on Friday that the number of oil and gas rigs in the US fell again this week, by 2, to 251, marking the twentieth straight loss in the number of active rigs. The total oil and gas rigs are now sitting at 695 fewer than this time last year. The number of […]

Read More
02 August

Lacombe County council is opposed to a Province of Alberta proposal to change how oil and gas wells, pipelines and associated machinery and equipment are assessed for property tax purposes. If approved, the changes would significantly impact residents and businesses in Lacombe County, either by significantly higher municipal taxes, reductions in services, or a combination […]

Read More
01 August

The recovery in global oil demand looks like it’s going to be slower than expected. (Bloomberg) — The recovery in global oil demand looks like it’s going to be slower than expected, as a resurgence in Covid-19 cases forces the re-imposition of lockdowns. All three of the world’s main oil forecasting agencies — the International […]

Read More