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“The commitments shown by Suncor Energy, Cenovus Energy, and Murphy Oil are extremely positive for the Newfoundland and Labrador offshore oil and gas industry," Noia CEO Charlene Johnson said in a statement. View the full article
During a recent call with investors, Suncor Energy CEO Mark Little commented on the future of the Terra Nova FPSO and efforts to confirm the Asset Life Extension project of the vessel. View the full article
Canadian Natural Resources, Cenovus Energy, Imperial, MEG Energy and Suncor Energy formally announced the Oil Sands Pathways to Net Zero initiative. “The initiative is an industry driven, made-in-Alberta solution which will strengthen our position as global ESG leaders,” said Sonya Savage, Alberta’s Minister of Energy. View the full article
Suncor Energy aims to reduce emissions by 10 megatons by 2030, from about 29 megatons in 2019. Half of the target will be achieved at its oil sands plants, refineries and other facilities through using carbon capture technology, switching fuels for operations and increasing energy efficiency. View the full article
Canada’s economic expansion suffered a minor setback last month after a robust start to the year, driven by a drop in oil production. View the full article
For a few fleeting hours Thursday, shares of Cenovus Energy Inc., one of Canada’s biggest oil producers, bounced back to highs not seen since its massive stock issuance to buy assets from ConocoPhillips four and a half years ago. View the full article
Brookfield Infrastructure Partners LP raised its hostile offer for Inter Pipeline Ltd. to C$8.4 billion ($6.9 billion) as it sought break up the company’s deal with Pembina Pipeline Corp., setting off a full-blown takeover battle for Canada’s fourth-largest pipeline company. View the full article
“The federal Liberal and NDP coalition has passed draconian legislation that will irreparably harm Canadian’s ability to hear the truth about the energy industry and Alberta’s successes in reducing global emissions," said Alberta Premier Danielle Smith, along with Canadian Minister of Energy and Minerals Brian Jean and Environment and Protected Areas Minister Rebecca Schulz. View the full article
Russia is supplying more oil to the U.S. than any other foreign producer aside from Canada as American refiners scour the globe for gasoline-rich feedstocks to feed surging motor-fuel demand. View the full article
Enbridge Inc.’s proposal to keep its massive Mainline oil pipeline network full through long-term contracts was rejected by Canada’s top energy regulator in a win for some producers who want more flexibility to ship their crude. View the full article
The Canadian government released potential designs for an emissions cap on the oil and gas industry, the next step in Prime Minister Justin Trudeau’s plan to cut emissions in the sector by 42% by 2030. View the full article
With Canadian pipeline giant Enbridge and Michigan Governor Gretchen Whitmer locked in a legal battle over the state’s efforts to decommission Enbridge’s Line 5, Canadian Natural Resources Minister Seamus O’Regan said he has reached out to all levels of government in the U.S. Legislators on both sides of the border have also held over 20 meetings to seek an agreement. View the full article
The supply cuts out of Northern Alberta, following a surprise OPEC+ decision to not increase output next month, could add more support to the recent rally in crude prices. OPEC+ had been debating whether to restore as much as 1.5 million barrels a day of output in April but decided to wait. View the full article
The Canadian government invoked oil and gas transit rights under a decades-old treaty with the U.S. to stop Michigan’s attempt to shut down an Enbridge Inc. pipeline under the Great Lakes. View the full article
Canadian oil production is more than two and half times domestic demand, yet the majority of crude oil demanded in the country arrives via the United States, according to a new analysis by IHS Markit. View the full article
Canada’s oil production could increase by 900,000 barrels a day to make up for supply losses from Russia’s war in Ukraine, according to the premier of the province of Alberta. View the full article
Callon Petroleum Co. failed to win over investors Wednesday after announcing its biggest-ever acquisition to bulk up in America’s most prolific shale patch. View the full article
Californian Governor Gavin Newsom will ban new hydraulic fracturing permits in the coming years as the state pushes to eliminate net greenhouse-gas emissions by 2045. View the full article
A coastal California county’s attempt to curb new oil and gas development suffered another blow when an appeals court upheld a ruling striking down a ban on new wells and hydraulic fracturing. View the full article
California is asking the federal government to declare an “electric reliability emergency” so the Golden State can lean more heavily on fossil fuels to avoid blackouts. View the full article
The merger of Cabot Oil and Gas Corp. with Cimarex Energy Co. announced Monday has confounded investors and analysts, leaving them to question the logic behind a tie-up that the companies say will increase diversification. Cimarex is mostly an oil explorer in Texas and Oklahoma, while Cabot is focused on natural gas drilling in the Marcellus shale basin in Appalachia. View the full article
The C-Kore tools were used to test the electrical integrity of the subsea assets, giving quick feedback to the operator for their maintenance decisions on the field. View the full article
The contract is for the provision of RLWI services onboard the M/V Island Venture, C-I’s flagship intervention vessel commissioned in 2017. View the full article
Evaluation of logging data, sample examination and formation pressure measurements confirm approximately 24 m of pay in an overall hydrocarbon column of 37 me. Notably, the hydrocarbon column extends across the boundary between the Gamba and the underlying Dentale formation. View the full article
BW Energy’s preliminary evaluation indicates an increase in Hibiscus gross recoverable reserves (mid-case) of approximately 8 MMbbl of oil to 12 MMbbl of oil. The company plans to complete the well as a development well later in 2024. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.
