BOE Report

Archives for 2016

Fitch: Canadian Banks Vulnerable to Oil Shock and Housing Correction

NEW YORK--(BUSINESS WIRE)--Canadian Banks fared relatively well through the 2008-2009 financial crisis and have enjoyed a prolonged period of stability; however, they are likely at an inflection point due to macroeconomic challenges, says Fitch Ratings. Canada's commodity-reliant economy will be facing challenges that pose new risks to Canada's major banks if oil prices remain 'lower for longer' and/or this creates a macroeconomic shock to the economy. [Read more]

Fitch: Tepid Global Demand and Low Oil Prices Put Pressure on Oil and Gas

CHICAGO--(BUSINESS WIRE)--LNG, natural gas, and oil producers, oil and gas pipelines, and oil refiners will be pressured by low demand and falling oil prices in 2016, according to a new Fitch Ratings report. "In addition to demand and pricing issues, the LNG industry is also facing new liquefaction capacity coming on line," said Jelena Babajeva, Director. "Additionally, market dynamics may drive lower throughput across the value chain, including [Read more]

Bayou Gas Odorants Adds Scentinel Products

PINEVILLE, LA--(Marketwired - Feb 22, 2016) - Louisiana-based gas odorants company, Bayou Gas Odorants (BGO), has partnered with Chevron Phillips Chemical (CP Chem) to offer their gas odorants product line, Scentinel.  The product line is already available through Bayou Gas Odorants and includes: Scentinel A, Scentinel E, Scentinel F-25, Scentinel S-20, Scentinel T and Scentinel T-50. "We've wanted to expand our product offering to reach more customers for many years," said [Read more]

Canadian oil production could slow down or freeze altogether, report warns

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CALGARY - Growth in Canadian oil production is likely to slow down or grind to a halt five years from now once projects now under construction are built, the International Energy Agency warns in a report released Monday.The Paris-based organization said it projects Canada to add 800,000 barrels a day of production by 2021, which would bring total output to 5.2 million barrels a day. Most of that growth is expected to come from Alberta's oilsands, with bitumen production expected to hit 3.4 [Read more]

Webcast Alert: Southwestern Energy Company Invites You to Join Its Fourth Quarter 2015 Earnings Conference Call on the Web

HOUSTON, Feb. 15, 2016 /PRNewswire/ -- In conjunction with Southwestern Energy Company's 2015 Fourth Quarter earnings release, you are invited to listen to its conference call that will be broadcast live over the Internet on Friday, February 26, 2016, at 10:00 a.m. EST with Bill Way, President and Chief Executive Officer of Southwestern Energy Company.  Southwestern Energy Company announces the following Webcast: What: Southwestern Energy Company's Fourth Quarter 2015 Earnings When: [Read more]

Strata Oil & Gas Announces Expansion of Land Base By a Factor of Fifty Percent

PEACE RIVER, ALBERTA--(Marketwired - Feb. 22, 2016) - Strata Oil & Gas Inc (OTCQB:SOIGF) ("Strata") announced today that it has entered into an agreement to acquire the rights to over 20,000 acres of oil sands leases in the Peace River oil sands region of Alberta, increasing the size of its Alberta oil sands holdings by a factor of approximately 50 percent. The rights extend from the Peace River formation to the base of the Pekisko formation. These lands are located next to Strata's Cadotte [Read more]

Edge Resources Inc. Announces Settlement of Disputed Invoice

CALGARY, ALBERTA--(Marketwired - Feb. 22, 2016) - Edge Resources Inc. ("Edge" or the "Company") (TSX VENTURE:EDE)(AIM:EDG) is pleased to announce that it has settled a disputed invoice with a third party (the "Third Party"), in the amount of $536,000, inclusive of GST. Edge paid no cash to settle the dispute and simultaneously removed approximately $10,000 in associated joint-interest invoices from its accounts payable. The dispute related to production and volume allocation errors in the [Read more]

Granite Oil Corp. Announces 2016 Budget and Regulatory Approval of Consolidated EOR Scheme

CALGARY, ALBERTA--(Marketwired - Feb. 22, 2016) - Editors Note: There is a photo associated with this press release. GRANITE OIL CORP. ("Granite" or the "Company") (TSX:GXO)(OTCQX:GXOCF) Granite is pleased to announce its budget and guidance for 2016. Granite also announces that it has received the approval of the Alberta Energy Regulator ("AER") to operate its gas injection enhanced oil recovery ("EOR") scheme on its 100%-owned Alberta Bakken property under a consolidated regulatory [Read more]

Economic sanctions involving globalized crude oil markets may do more harm than good

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The practice of sanctioning economies has become a primary political tool in the arsenal of international politics. From the freezing of a countries’ assets, to export restrictions, sanctions, particularly on Iran, have become a recent focus in assessing the future price of crude oil. While justifications for such political action may be well grounded, its broader effects on globalized markets would be a worthwhile study.  In January, the Iranian export sanctions ended in a quagmire of [Read more]

HSBC Bank Canada posts Q4 loss, as energy sector customers hit by low oil price

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VANCOUVER - HSBC Bank Canada says it had a loss in its fourth quarter and its 12-month profit was about one-third less than in 2014, largely because of increased provisions for customers in the energy sector.The bank's profit was $414 million for the 12 months ended Dec. 31, including a $38 million loss in the fourth quarter.That's down from the 2014 annual profit of $613 million, which included an $118 million profit in the final three months.HSBC says it felt the negative impact of depressed [Read more]