Exxon is close to completing a workforce assessment for the United States and Canada, after which it will announce the number of people it needs to lay off in response to the crisis caused by the pandemic. “Making the organization more efficient and more nimble will reduce the number of required positions and, unfortunately, reduce […]
Read MoreThe benchmark price of Canada’s oil sands is expected to strengthen next year amid lower supplies of Mexican heavy crude oil to the United States, BMO Capital Markets said in a report carried by Bloomberg . Western Canadian Select (WCS) —the benchmark price of oil from Canada’s oil sands delivered at Hardisty, Alberta—has seen its […]
Read Morepexels photo The Lead Exxon Mobil Corp. will be revealing its final workforce appraisals in the United States and Canada very soon, according to the company’s chief executive. Earlier this spring, the oil major unveiled a plan to make cuts to its workforce in hopes of improving the company’s competitiveness. Exxon lost $1.7 billion during […]
Read MoreThe Lower 48 oil and natural gas rig count remains sharply lower than a year ago, but fracturing activity is rising, a revival that should extend into 2021, all things (prices) being equal, Patterson-UTI Energy Inc. CEO Andy Hendricks said Thursday. Drilling and completion activity for the Houston giant “stabilized” in the third quarter as […]
Read MoreSummary Enbridge continues to be an undervalued gem in the pipeline business. Its price is little changed over the last 6 months since we last wrote on it. We think investors should carefully consider adding to or opening new positions in ENB at current levels. Looking for a portfolio of ideas like this one? Members […]
Read More2020 Rising Star Farheen Akbar Seventeen years ago, aspiring engineer Farheen Akbar left her native Bangladesh – where few opportunities existed for the determined young woman – for Montreal in order to pursue her dream. Despite not speaking French and only knowing functional English, Farheen earned a degree in electric engineering from Concordia University, completed […]
Read MoreU.S. natural gas exports to Mexico, most of which cross the border via pipeline, have continued to increase in 2020, according to the U.S. Energy Information Agency (EIA). Mexico imports of liquefied natural gas (LNG), meanwhile, have declined every month since March, according to EIA, as pipeline infrastructure comes online offering cheaper alternatives. In early […]
Read MoreExxon Mobil Corp is "very close" to completing its workforce appraisals in the United States and Canada and expects to unveil job cuts, its chief executive told employees in an email on Wednesday. The second-largest U.S. oil company by market value lost nearly $1.7 billion US in the first six months of the current fiscal […]
Read More(Bloomberg) –Canadian oil prices are poised to strengthen next year as Mexican heavy crude exports to U.S. Gulf Coast refineries dwindle, according to BMO Capital Markets. Heavy Western Canadian Select’s discount to the West Texas Intermediate benchmark could narrow to $5 to $7 a barrel next year, BMO said in a report Wednesday. Oil sands […]
Read MoreThe Company achieved a total net production of 131.2 million barrels of oil equivalent (“BOE”) for the third quarter of 2020, representing an increase of 5.1% year-over-year (“YoY”). Production from China increased by 10.4% YoY to 88.6 million BOE, mainly attributable to commencement of new projects such as Luda 21-2/ Luda 16-3 regional development project […]
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