|Day's Range||52.69 - 53.64|
It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that there are more than a few examples Read More...
The facility, designed by Calgary-based Value Creation Inc., would be located near Edmonton and process 77,500 barrels of diluted bitumen a day into products like medium synthetic crude and ultra-low sulfur diesel. The province’s support is part of about C$3 billion Alberta plans to invest to spur the construction of refineries, upgraders and petrochemical facilities to reap more value from its oil reserves. The plan, an idea that has been floated for more than a decade, also aims to alleviate the pipeline bottlenecks that have hammered local crude prices and prompted Premier Rachel Notley to mandate a province-wide oil production cut.
Carbon capture is nothing new, but Korean researchers have now find a way to turn this captured CO2 into electricity and hydrogen
Your Energy Review for the Week Ended January 18Economic slowdown pressure oil prices Between January 11 and January 18, US crude oil March futures rose 4.1% and closed at $54.04 despite a rise in the US dollar. However, as of around 4:14 AM EST
Canada's biggest oil-producing province, Alberta, said on Tuesday that it would provide a C$440 million ($330 million) loan guarantee for a planned C$2 billion ($1.5 billion) oil partial upgrading facility, aiming to push more crude through its full pipelines. Alberta Premier Rachel Notley said her government had signed a letter of intent for the loan guarantee to private company Value Creation Inc [VALCT.UL], which intends to make a final investment decision by year-end on building the facility, near Edmonton. Alberta announced its strategy nearly a year ago to offer up to C$1 billion in loan guarantees and grants to spur construction of such facilities.
India remains the second biggest driver of global demand growth for crude oil according to energy consultancy WoodMackenzie
Prequin, a private capital tracker, has released a report highlighting a record amount of cash from unlisted funds flowing into the natural resource sector
What Happened in the Upstream Space Last Week?(Continued from Prior Part)Upstream stocksOn January 11–18, Laredo Petroleum (LPI) fell the most on our list of upstream energy stocks from the SPDR S&P Oil & Gas Exploration & Production
OPEC+ supply cuts have been slow to materialize as both Iranian and Venezuelan oil supply isn't falling as fast as expected, while Russia has reported that geological and meteorological circumstances are preventing it from cutting fast
The IMF, on Monday, cut its growth forecast for Saudi Arabia, naming lower oil prices and reduced production as two of the main reasons for the change
Based on the earlier price action, the direction of the EUR/USD into the close is likely to be determined by trader reaction to the uptrending Gann angle at 1.1369.
Canada is a top shipper of crops, fertilizer, oil and pulp, but has in recent years needed government intervention to keep commodities moving, from ordering railways to clear grain backlogs to Alberta's crude oil curtailments this month due to full pipelines. Free-trade deals with the European Union and Pacific Nations are boosting demand for commodities, adding further strain to Canada's transportation infrastructure.
Kuwaiti Oil Minister Khaled al-Fadhel has questioned his country’s $500 billion expansion plan, saying the budget for this plan could be ‘too optimistic’’
Broader Market Supported the Energy Portfolio(Continued from Prior Part)Oil’s implied volatility On January 17, US crude oil’s implied volatility was 35.5%, which was ~23.2% below its 15-day average. Usually, a lower implied volatility might
Libya’s oil future hinges on the fate of its largest oil field, and its national oil company the NOC is on edge following the offensive of strongman General Haftar to ‘secure oil fields’
The IEA said in its latest report that the balancing of oil markets is more likely to be a marathon than a sprint, and that the OPEC+ cuts will still take quite some time to balance the markets
Big oil is responding in different ways to the impending energy transition with varying levels of urgency, but a few trends in strategic change can be distilled
Last week’s rally indicates that two events will need to take place to sustain the current rally. Firstly, the U.S and China have to continue to make progress toward a trade agreement, and OPEC must continue to adhere to its strategy to limit output. This is because of the U.S. goal to become a net exporter while reducing its reliance on foreign oil.
This won’t make the U.S. independent of the global supply chain. It doesn’t mean that it will stop shipping in crude from the Middle East and Latin America, or bringing refined products from Europe and Asia. Some of the thanks should go the OPEC ministers who have helped make it possible.
Based on the price action on Thursday and Friday, the direction of the NZD/USD on Monday is likely to be determined by trader reaction to the main 50% level at .6781.