03 November

Egypt’s crude oil reserves reached about 3bn barrels, down from about 4bn in 2015, a decline of 25%, as a result of the country’s failure to achieve significant oil discoveries during the past three years. A source in the oil sector told Daily News Egypt that the local market has consumed about 1bn barrels of […]

Read More
03 November

Imperial Oil logo at the company’s annual meeting in Calgary, Friday, April 28, 2017. Two new oilsands projects with the combined capacity to produce up to 200,000 barrels per day have been approved by the Alberta Energy Regulator but proponent Imperial Oil Ltd. isn’t saying when or if it will build them. Company experts are […]

Read More
03 November

If you can’t join ’em, beat ’em. That was the mindset of Yorkton’s Brett Kemp, who scored twice on Friday night and added one assist, leading the Edmonton Oil Kings to a 5-1 win over the Regina Pats before an announced crowd of 4,676 at the Brandt Centre. “It’s a team I’ve grown up watching […]

Read More
03 November

A worst-case oil spill in the Great Australian Bight would be twice the scale of the Gulf of Mexico disaster, and rough seas and a lack of suitable equipment risk delaying the response effort, confidential plans show. Documents released under freedom of information laws reveal the potential dangers involved in drilling for oil in the […]

Read More
02 November

Several media outlets have reported liability estimates provided by the AER in presentations to industry. We want to apologize for the concern and confusion that this information has caused. The numbers are staggering – $260 billion in total liability, which is $200 billion more than we have consistently reported. This particular estimate was created for […]

Read More
02 November

© Mark Duffy / Adobe Stock Canadian drilling activity will fall 5 percent in 2019, as deep price discounts discourage production, an industry group forecast on Thursday. Canadian oil producers are collecting prices that are much lower than the U.S. benchmark due to severe pipeline bottlenecks, and weak prices may lead producers to limit drilling […]

Read More
02 November

The sun will come out tomorrow, or at least some time next year. That’s the message from Canadian oil producers suffering from the worst domestic glut in at least a decade. Even as prices dipped to new lows on Thursday, some companies including Suncor Energy Inc. and Canadian Natural Resources Ltd. see reasons for optimism. […]

Read More
02 November

Drilling for oil and gas in Canada will likely decline by 5 percent in 2019, the Petroleum Services Association of Canada has forecast, blaming pipeline capacity shortages and the resultant discount in Canadian heavy to the West Texas Intermediate benchmark for the outlook. The PSAC said it expected oil and gas companies to drill 6,600 […]

Read More
02 November

Click here to view the article on the original web page at www.cnbc.com Oil prices fell on Friday as surging output by the world’s three largest producers outweighed supply concerns from the start of U.S. sanctions next week against Iran’s petroleum exports. Front-month Brent crude futures were at $72.60 per barrel at 0441 GMT on […]

Read More
02 November

Click here to view the article on the original web page at www.ctvnews.ca Enbridge President and CEO Al Monaco attends the company’s annual general meeting in Toronto on Wednesday May 6 , 2015. (Chris Young / THE CANADIAN PRESS) CALGARY — Enbridge Inc. is looking at options to help clear a glut of oil in […]

Read More