In what the International Energy Agency (IEA) calls a “fundamental change” in the global crude oil market, over the next three years production gains from the United States alone will cover 80 per cent of the world’s demand growth, with Canada, Brazil and Norway able to cover the rest, according to Oil 2018, the IEA’s five-year market analysis and forecast.
March 5, 2018, 11:42 AM MST
The Alberta Energy Regulator (AER) has increased its forecast for pentanes plus (C5+) production in Alberta over the next 10 years due to an anticipated rise in natural gas production and an upward revision to liquids yields to better reflect actual liquids content.
March 5, 2018, 3:55 AM MST
Alberta has remaining crude bitumen established reserves of 164 billion bbls after estimated annual production of 1.01 billion bbls in 2017, according to the Alberta Energy Regulator’s (AER) annual reserves report released Wednesday.
March 1, 2018, 5:26 AM MST
The Alberta petrochemical industry could double its output in 20 years should West Coast LNG become a reality, says a report on energy diversification to the Alberta government.
February 28, 2018, 3:24 AM MST
A report on energy diversification in Alberta has recommended the Alberta government take the necessary steps to enhance the infrastructure for extraction of available natural gas liquids, specifically ethane, to encourage more value-added energy development.
February 28, 2018, 3:54 AM MST
Partially upgrading bitumen to a medium or heavy crude could “dramatically increase” the number of refineries that could take Alberta crude, says a report released on Monday.
February 27, 2018, 3:19 AM MST
The Alberta government “has definitely listened to the concerns from industry on how to develop the right framework for encouraging value-add, particularly partial upgrading,” says an official with the Canadian Association of Petroleum Producers (CAPP).
February 27, 2018, 3:52 AM MST
The Alberta government should transform its Invest Alberta agency into a “world-class organization that has the capacity to secure multibillion-dollar projects when competing with the best investment agencies in the world,” says a report by the province’s Energy Diversification Advisory Committee (EDAC).
February 27, 2018, 4 AM MST
Market access is fundamentally important, but if Canadians think it is a “silver bullet” that repositions the country for success in the global energy space, then those Canadians are wrong and naïve, according to Tim McMillan.
February 26, 2018, 10:45 AM MST
While Newfoundland and Labrador oil development hasn’t been hamstrung by the pipeline construction delays that are depressing western Canadian oil prices, the province has identified a need for more exploration drilling.
February 22, 2018, 6 AM MST
Demand for oil and other liquid fuels grows over much of the timeframe to 2040 but gradually slows and plateaus in the later years, BP plc says in the 2018 edition of its annual Energy Outlook released today.
February 20, 2018, 11:44 AM MST
Global oil supply in January edged lower to 97.7 million bbls/d but was 1.5 million bbls/d above last year as rebounding U.S. production underpinned non-OPEC output growth, the International Energy Agency (IEA) reported.
February 13, 2018, 2:52 AM MST
Canada requires a fresh approach and new tools for climate policy that will dramatically reduce emissions while maintaining economic prosperity, says a new.report.
February 13, 2018, 11:46 AM MST
A new report by the School of Public Policy says the best way to reduce greenhouse gas (GHG) emissions from road passenger travel in Canada is with a revenue-neutral carbon tax.
February 1, 2018, 10:12 AM MST
Pipeline constraints have greatly reduced the price that oil producers receive, and this effect is by far the largest competitiveness cost on energy producers, according to a new study by the C.D. Howe Institute.
February 1, 2018, 8:32 AM MST
Oilsands production will continue to rise through the next decade but not at previously anticipated levels as investment is expected to remain lower than historical rates, says IHS Markit.
January 30, 2018, 10:15 AM MST
When it comes to the environmental benefits of using domestic crude in central and eastern Canadian refineries, a new report might suggest this country has a decision to make: Does it choose a path that reduces global emissions but increases domestic ones, or does it only worry about meeting Canada’s quota on greenhouse gases?
January 25, 2018, 6 AM MST
Mexico’s abundant onshore and offshore basins are now starting to attract significant independent and foreign investment.
January 25, 2018, 3:18 AM MST
Canada’s upstream sector saw almost C$42 billion in new deals agreed in 2017 — a 91 per cent increase over the five-year annual average — as a few massive oilsands deals offset a drop in overall deal-flow.
January 24, 2018, 3:59 AM MST
The date at which oil demand will stop growing is highly uncertain and small changes in assumptions can lead to vastly different estimates, argue authors of a recent paper released by The Oxford Institute for Energy Studies.
January 22, 2018, 6 AM MST
The Permian Basin was the U.S. upstream sector’s top acquisition target for the fourth year in a row in 2017, according to new data from Evaluate Energy.
January 22, 2018, 6 AM MST
Canadian oil production surged 240,000 bbls/d in November to stand just below five million bbls/d, and growth this year will be powered by Fort Hills and Hebron, the International Energy Agency (IEA) said today in its first monthly review of the oil market.
January 19, 2018, 4:09 AM MST
With $163 billion agreed in new upstream deals in 2017, Evaluate Energy’s latest report suggests that the recently improving oil price will encourage continued M&A spending around the world in 2018.
January 18, 2018, 6 AM MST
Canadian oil production held largely steady in October, averaging around 4.75 million bbls/d, according to the International Energy Agency (IEA).
December 14, 2017, 3:45 AM MST
At the end of 2014, when Saudi Arabia was assessing its loss of market share worldwide, the tally showed a loss of close to 500,000 barrels a day from the U.S. market, mainly on the back of competition from Canada. At the time, the increase in coking refining capacity in the U.S. Midwest strongly favoured Canadian heavy crude while U.S. crude imports, mainly to the U.S. Gulf Coast, from the Organization of the Petroleum Exporting Countries (OPEC) had been slashed in half since oil’s price peak in 2008.
December 5, 2017, 6 AM MST